5.X — Profit: Reflection Questions #
Have I actually calculated the cost of my empty chairs–the gap between where my sales are and where they need to be? Do I know my Guest Acquisition Cost, and am I investing enough to close that gap?
Am I spending more energy cutting costs or building top-line revenue? What would it look like to flip that ratio–even by ten percent?
When was the last time I reviewed my pricing strategy–not just adjusted a few prices, but truly evaluated whether every item on my menu is priced to reflect its value and maximize contribution margin?
Do I understand all four aspects of my food cost, or am I managing to a single percentage on my income statement and hoping for the best?
How much revenue have I generated from discounted Guests who returned and paid full price? If I don’t know the answer, what does that tell me about whether my discounting strategy is actually working?
Am I using discounts because I have a genuine strategy–or because I’m reacting to the discomfort of empty seats? Have I built a real plan for slow periods, or am I making it up as I go?
If I eliminated every discount tomorrow, what would I need to improve about my Guest experience to justify full price? What’s stopping me from making those improvements right now?
What message are my current promotions sending to my best Guests–the ones who already come in and pay full price? Am I rewarding loyalty, or am I punishing it?
Can I name my twenty-five best Guests–the ones who bring friends, celebrate with us, and recommend us without being asked? If not, what does that tell me about how well I actually know my Guests?
Is my current loyalty program creating genuine emotional attachment, or have I just built a discount mechanism that trains Guests to wait for a deal? What would happen if I eliminated it tomorrow?
What percentage of your total revenue comes from catering, takeout, and delivery? If you don’t know the exact number, that’s your first problem. Are you dedicating resources proportional to what those channels contribute?
If a new Guest orders takeout from you tonight, what is their experience from start to finish–ordering, packaging, accuracy, presentation? Would you be proud of it, or are you treating off-premise Guests as second-class?
Have you explored SBA 504 financing or other capital options that could fund the growth investments you’ve been putting off? What’s the real reason you haven’t pulled the trigger–lack of information, or fear?
When was the last time you personally followed up with a catering client, a regular takeout Guest, or anyone who chose to spend money with you outside your dining room? Are you building relationships–or just processing transactions?
Am I surrendering my Guest relationships to third-party platforms? What percentage of my off-premise business comes through channels I don’t control–and what am I doing to reclaim those relationships?
If I stripped away every discount, every promotion, and every rewards scheme, would my Guests still choose me? If the honest answer is no, what does that say about the experience I’m delivering–and what’s the first thing I need to fix?
