SpotOn Unveils Tools to Help Restaurants Boost Profit Margins
SpotOn's new marketing campaign, Points of Profit, demonstrates to restaurant owners and operators how it is possible to get to double-digit profit margins.
Backed by data, case studies, and insights from industry operators, the campaign is supported by Maximizing Profit Margins, a whitepaper that details the ways in which restaurant owners can consolidate their technology to win back profit points and an interactive profit margin calculator that helps restaurants quantify where money might be hiding in plain sight. SpotOn’s Points of Profit arrives as restaurants face record-high inflation, serving as a roadmap for operators to protect margins from rising costs and generate new revenue.
“The pandemic has had a profoundly destabilizing impact on our industry and made the dream of profitability even more distant for many operators,” Matthew Kenney, CEO of Matthew Kenney Cuisine, says. “With 'Points of Profit,' SpotOn is showing restaurant owners the strategies they can employ to help protect their margins from inflation.”
In 2019, profit margins for single location full-service restaurants averaged 6.2 percent, according to an IBIS World report. Over the last two years, amidst pandemic shutdowns, a labor crisis, the rising cost of goods, and a sluggish supply chain, already slim profit margins have shrunk even more. With its Points of Profit campaign, SpotOn is taking on one of the longest held (and most limiting) norms in the restaurant industry--that there’s a single-digit ceiling to profit margins.
Around the globe and across industries, businesses that were able to accelerate their digital evolution were able to best weather the economic impacts of the pandemics. Points of Profit provides a practical, incremental plan to help restaurant owners reduce costs and offers a profit margin calculator to determine potential new revenue based on data from current SpotOn customers.
SpotOn has built a suite of integrated solutions designed to increase revenue and lower costs, so restaurant owners can earn higher profits. Its flexibility enables you to implement what you need when you need it.
The whitepaper is available for download at www.spoton.com/pointsofprofit and will be a featured topic during education sessions at The Bar & Restaurant Show in Las Vegas on March 22, and the National Restaurant Association's TechTalk in Chicago on May 23.
