M2 is next focus in MMMMs by restaurant turnaround consultant

After marketing, another key area of the four MMMMs to saving a failing foodservice operation that a restaurant turnaround consultant will target is to increase income and cash flow. This is focusing on the all important second one: Restaurant Dining RoomMoney When cash is tight and the restaurant is struggling to just meet day-to-day obligations of food and beverage purchases, payroll, and operating supplies, it becomes especially critical that one captures every opportunity to increase receipts and daily deposits. Many restaurateurs miss some obvious areas where sales AND money can be secured without any added cost or expense. A couple excellent examples are prepaid gift certificates and events and party bookings. Instead of using those give-away coupons to give your customers a certain discount if they buy something when they visit; why not offer gift certificates with a certain discount tied to their level of purchase when they prepay. This secures immediate cash receipts and guarantees the sale, provided you put in some restrictions. Another way to capture advance deposits AND income that a restaurant turnaround consultant will recommend is to solicit company events and banquets with a prorated discount based on the volume of the party receipts and prepayment. Again, this affords the restaurant an ability to increase sales while improving its cash flow. On the expense side reducing employee costs, without sacrificing customer service, since payrolls must be met and paid every two weeks or twice monthly in most restaurants is particularly important from a restaurant turnaround consultant perspective. This starts with the third M in the MMMMs…