Track your tech spending and ROI
As restaurants progressively become more like tech companies that happen to serve food, a restaurant’s technology spending and tech-driven earnings will take on ever-greater importance. According to a recent report from Nation’s Restaurant News, the average “digitally sophisticated” restaurant chain spends approximately 2-4 percent of their sales on technology. This calculation can be difficult to come to for a restaurant with dozens of pieces of software and peripheral equipment, but consider it something to work toward – particularly as you look to invest in new tech. Knowing your return on investment for your existing tech stack can help you ask critical questions when the next tech-driven solution comes around.
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