Knowing how a restaurant performs in key business measures is crucial to identifying where there may be unrealized cost savings. The National Restaurant Association offers a simple way to access operating data points for comparison – take a 5-minute survey.
Each month, the NRA conducts its Restaurant Industry Tracking Survey among restaurant operators nationwide to track trends in key indicators. The results (which are anonymous and only used for aggregate data) are the base for the monthly Restaurant Performance Index, which is widely used to gauge trends in the industry. All respondents who complete the one-page, online survey receive exclusive, free access to the detailed results not included in the RPI, broken out by industry segment, type of ownership and state/region.
For example, food and nonalcoholic beverage costs represented a median of 32 percent of total food and nonalcoholic beverage sales in June, up slightly from 31 percent in April and May, according to the survey. Casual dining operators reported the highest ratio in April, at 33 percent. Fast casual operators came in the lowest, at 28 percent.
The survey also asks about same-store sales and customer traffic levels, staffing and employee hours, capital expenditures and menu prices.
Restaurant operators: Take the survey now, and start tracking how your business compares to similar restaurants on a monthly basis.