RESTAURANT STRATEGY

The 10 Things I Know About Running Insanely Profitable Restaurants

Listen Later
#342 - The 10 Things I Know About Running Insanely Profitable Restaurants

 

*****

REGISTER NOW for the P3 PROFITABILITY SUMMIT (July 14-16, 2024 in St. Louis, MO): https://www.chipklose.com/events/ticket-p3-profitability-summit

*****


After 25 years in the industry, helping hundreds of restaurant owners generate consistent, predictable 20% profits month after month... these are the 10 things I KNOW about running an insanely profitable restaurant. Listed below, with tactical advice on the podcast to help you take action on each and every one of these by the end of the week:

  1. 20% profits are absolutely possible.

  2. There are 3 moving targets in our business… which is what makes our job so hard.

  3. It’s crucial to keep prime cost below 60%.

  4. Every restaurant needs multiple revenue streams (3-4 minimum).

  5. Catering and PDR is absolutely key to success in this post-covid world.

  6. Top-heavy payroll will absolutely kill you.

  7. Understand the difference between macro and micro.

  8. Managers manage the profitability of the restaurant… they need clear goals and oversight.

  9. Education is key… you must constantly level up.

  10. Your network is key… you must surround yourself with ambitious people… people who believe what you believe. 
     

    11. *****

    Join me at the P3 PROFITABILITY SUMMIT in St. Louis, MO (July 14-16, 2024). Attendance is being capped at 100 people. Use the link below to get your tickets! 

    REGISTER NOW: https://www.chipklose.com/events/ticket-p3-profitability-summit

    ...more
    View all episodesView all episodes
    Download on the App Store
    RESTAURANT STRATEGYBy Chip Klose
    • 4.9
    • 4.9
    • 4.9
    • 4.9
    • 4.9

    4.9

    181 ratings

    More shows like RESTAURANT STRATEGY

    View all
    Coaching for Leaders by Dave Stachowiak

    Coaching for Leaders

    1,468 Listeners

    The School of Greatness by Lewis Howes

    The School of Greatness

    21,127 Listeners

    Restaurant Rockstars Podcast by Roger Beaudoin

    Restaurant Rockstars Podcast

    49 Listeners

    The Tony Robbins Channel by Tony Robbins

    The Tony Robbins Channel

    6,440 Listeners

    10% Happier with Dan Harris by 10% Happier

    10% Happier with Dan Harris

    12,727 Listeners

    THE ED MYLETT SHOW by Ed Mylett

    THE ED MYLETT SHOW

    14,015 Listeners

    The Martell Method w/ Dan Martell by Dan Martell

    The Martell Method w/ Dan Martell

    593 Listeners

    Kwik Brain with Jim Kwik by Jim Kwik, Your Brain Coach, Founder www.KwikLearning.com

    Kwik Brain with Jim Kwik

    4,842 Listeners

    The Diary Of A CEO with Steven Bartlett by DOAC

    The Diary Of A CEO with Steven Bartlett

    8,849 Listeners

    Build A Better Restaurant with Peter Harman by Peter Harman

    Build A Better Restaurant with Peter Harman

    53 Listeners

    On Purpose with Jay Shetty by iHeartPodcasts

    On Purpose with Jay Shetty

    27,568 Listeners

    A Bit of Optimism by Simon Sinek

    A Bit of Optimism

    2,227 Listeners

    The Restaurant Prosperity Formula by David Scott Peters

    The Restaurant Prosperity Formula

    33 Listeners

    The Daily Motivation by Lewis Howes

    The Daily Motivation

    907 Listeners

    Setting the Table: Restaurant Growth Strategies by Robin B

    Setting the Table: Restaurant Growth Strategies

    0 Listeners