Many restaurants lost business during the recession, as plenty of families were struggling and chose to save money by cooking at home rather than going out to eat. This forced many business owners to hold off on making new purchases until sales picked up once more. New reports indicate restaurateurs may soon be able to invest in a dual purpose cash and check scanner, as the industry is experiencing a steady recovery.
Positive numbers good news for the industry
The U.S. Department of Commerce recently released a report that revealed food and beverage sales have shot up year-over-year, which comes as promising news to those in the restaurant business. Sales experienced a 4.3 percent jump when compared to May 2012. Even month-to-month numbers were stronger, with May showing a 0.6 percent increase over April sales.
As unemployment numbers slowly decline, even more people may be willing to spend more money at local bars and restaurants, which could lead to further growth in the industry. A new report from the U.S. Department of Labor showed jobless claims fell by 9,000 for the week ending June 22, to a seasonally adjusted 346,000. This figure was in line with expectations from top economists and indicates steady improvements in hiring among employers. If this trend keeps up, food sales could continue to rise, bringing in still more business for restaurant owners.
Coping with the spike in sales
Because sales were so slow during the economic downturn, many restaurants may be ill-prepared to deal with the influx of customers and lack the resources necessary to ensure everything runs smoothly during busy periods. By launching hiring initiatives, training employees on best practices to use during peak dining hours and guaranteeing essential processes are in place, business owners will be able to handle the jump in families dining outside the home.
However, restaurateurs should also consider the importance of technology and how it can help them grow their enterprise. Many patrons who eat out or frequent bars choose to pay with cash, and it's important for business owners to address this fact by investing in a new cash counting machine. Such advancements can help them more efficiently manage backroom processes and ensure all transactions are handled quickly and easily.
July 11, 2013