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Restaurant Metrics: How to Use Data to Build Your Menu Workshop
May 1, 2023 @ 6:00 pm - 7:30 pm
Join TechTown Detroit for an interactive and informative workshop featuring Michal Kowalkowski, 2023 Young Transatlantic Innovation Leaders Initiative (YTILI) Fellow. YTILI is administered locally through Global Ties Detroit. This workshop is designed to help restaurant owners, managers and aspiring culinary entrepreneurs unlock the potential of their menus using the power of data-driven decision-making.
You will learn how to effectively calculate food costs, margins and develop an efficient inventory management system to maximize profitability and minimize waste. Key topics covered in this workshop include:
-Introduction to food cost calculations: Learn the basic principles of calculating food costs and how it relates to menu pricing and overall profitability.
-Understanding margins: Discover the importance of knowing your margins and learn how to evaluate and adjust menu items for optimal profitability. -The role of inventory management: Explore how effective inventory management can help in controlling food costs, reducing waste and improving your bottom line.
-Building a data-driven menu: Get practical tips and strategies to create a successful, data-driven menu that caters to customer preferences while optimizing profit margins.
-Hands-on exercises: Apply the concepts learned through real life examples and practice exercises, allowing you to confidently apply these techniques to your own restaurant.
By the end of this workshop, you’ll be equipped with the knowledge and tools to leverage data in making informed decisions that can positively impact your restaurant’s success. Whether you’re an industry veteran or a budding restaurateur, this workshop will provide valuable insights to help you effectively use data to build a winning menu and a thriving business.