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The Perfect Pairing: How to Combine Data and Experience with Analytics

Owners and managers are pros at handling stressful situations: packed dining rooms, hour-long waitlists, and even emergencies like the AC going down on a scorching day. However, there’s one thing that stresses out even the toughest, most seasoned industry managers—invoices. 

In many ways, the restaurant business is all about operating ‘on the fly’.  Whether it’s reimagining your business model to adapt to a global pandemic,  jumping behind the bar to sling drinks when your head bartender is weeded,  or reworking your signature dish to suit a picky customer’s tastes, most  restaurateurs are masters at rolling with the punches.  

Facing mandatory closures and limited dining room capacities, many restaurants have had to pivot their business models to stay afloat. While delivery isn’t new to the foodservice industry, more eateries are offering the service during COVID-19 quarantine measures. And amid the pandemic, restaurants have been forced to get creative, offering new services like sanitary packaging and contactless delivery.

COVID-19 forced you to close your dining room, and now your business is running on delivery and takeout. You have to continue selling hot, tasty dishes – your sales depend on it. And after taking big hits to your bottom line, you can’t afford to clutter your cooler and cut into your profits further with extra, expensive ingredients. How do you balance cooking up your best menu items with keeping your inventory under control?

COVID-19 has shaken up the food service industry, forcing restaurants and bars across the country to shut down – in some cases, permanently. Some dining rooms are beginning to welcome back customers, but virus hotspots are still fresh on diners’ minds. As they plan to reopen their doors, operators are having to rethink strategies to keep their staff and consumers safe and healthy.

Craftable is thrilled to announce the launch of Analytics, a software tool for bar and restaurant operators that combines sales, costs, and labor together in real time. With Analytics, operators are able to capture detailed insights from sales, revenue sources, service fees, payment types,  and more. 

It’s no secret that successful bar and restaurant owners spend more time on the floor than in the cellar or walk-in. But managing inventory is a key driver of success for hospitality businesses. While it can be a pain, operators have to spend some time making sure they have the right stock to keep dishes and drinks flowing out to diners and drinkers.

Managing the costs of operating a bar can leave you wanting a stiff drink at the end of the day. According to Investopedia, bars gulp down an average of $20,000 in monthly expenses between labor, rent, utilities and other miscellaneous expenses. Ordering inventory can tack on thousands of dollars more.

Your best bartender has crafted a drink special you’re sure will bring thirsty customers flocking in for happy hour and after-dinner cocktails. You order plenty of liquor to keep everyone’s glass full.