Nation’s Restaurant News has recently posted an article that has caught our attention. Domino’s Pizza’s has reported a decrease in earnings in its first quarter. With the release of their new items such as their Parmesan Bread Bites, stuffed cheesy bread, and their Artisan pizzas, they had hoped for a better turn out. These specialty items did increase the average check and profit margins at the unit level but the company is still suffering.
We recently wrote a blog about how to control costs during hard times. This blog emphasizes that operational aspects such as inventory control, portion sizing, reducing turnover, improving employee retention, and training are all import aspects of business that can be forgotten about during good times. Domino’s is recognizing the importance of focusing on these operational aspects, referring to them as “unit-level economics”.
“While the company’s domestic unit count declined a net nine restaurants in the first quarter, Domino’s aim is to set itself up for renewed domestic expansion in the future by shoring up unit-level economics,” said Chief Executive Patrick Doyle.
Doyle continued, “We know that profitable franchisees make for a healthy system, and the goal is to turn those profits into new stores so our domestic store growth rate improves over the long term.”
Domino’s is proof that it is very important for a business to be efficient and cost conscience. TimeForge can immediately improve profitability and is designed to improve cost controls at your business. TimeForge allows you to produce schedules in minutes instead of hours. We have several franchisees that use our product. These franchisees have lower costs, are more efficient, and are more successful than their competitors because of the competitive advantage that TimeForge offers. At the risk of being cheesy here, I think it’s important to state that we are proud to serve small businesses – whether they are franchises or not. We like to think that we are helping our nation’s economy grow one small business at a time.
Can you build a schedule in less than 10 minutes? How many thousands of dollars do you spend making schedules every year? Did you know that TimeForge can minimize costs and increase profits through effective employee scheduling? Sign up today for a free trial today!