THE LUMIERE BLOG
The One Big Beautiful Bill Act (OBBBA) - What Employers and Employees Need to Know
Congress has officially passed the One Big Beautiful Bill Act (OBBBA), signed into law by President Trump on July 4, 2025. It’s a sweeping package with wide-ranging implications for businesses and workers across the country. We’ve broken down the sections most relevant to employers so you can stay focused on your business while we help make sense of the new rules.
1. Overtime Compensation Deduction
Starting in tax year 2025, eligible employees can deduct up to $12,500 annually of FLSA-compliant overtime pay ($25,000 for joint filers). However, this deduction phases out for individuals earning over $150,000 AGI ($300,000 for joint). Overtime not governed by the FLSA—such as state-regulated or contract-based arrangements—is excluded.
Key employer takeaway: Maintain precise records of all overtime and ensure compliance with federal FLSA definitions.
2. Tip Income Deduction
Employees who earn tips can now deduct up to $25,000 of qualifying tips annually. This includes pooled tips and voluntary gratuities, but excludes mandatory service charges and tips from industries such as law, finance, healthcare, and entertainment.
Like the overtime deduction, the tip deduction also phases out above $150,000 AGI ($300,000 joint). To qualify, the employee must have been employed and regularly tipped before December 31, 2024.
Employer reminder: Track and report all tips carefully to ensure staff can claim this benefit.
3. Paid Family & Medical Leave Tax Credit Enhanced
Effective after 2025, employers offering at least two weeks of paid leave at 50% wage replacement will qualify for a 40% tax credit—up to 50% for businesses with revenue under $29 million. The credit is capped at $500,000 ($600,000 for small businesses).
To qualify:
Employees must be full-time and employed at least six months.
At least half of the leave must be paid at the employee's regular rate.
A documented leave policy must be in place.
4. Student Loan Repayment Tax Exclusion
A previous temporary tax break allowing up to $5,250 in student loan repayment per employee, tax-free, has been made permanent.
Why this matters: Employers offering this benefit can continue doing so with no federal payroll tax impact.
5. Health Benefit Plan Updates
Bronze and Catastrophic marketplace plans are now HSA-eligible.
HSA funds (up to $150 individual/$300 family per month) can be used for direct primary care arrangements.
The $5,000 cap on Dependent Care FSAs is now increased to $7,500—the first hike since the 1980s.
6. Business Investment Deductions
The expensing cap for business property increases to $2.5 million (from $1.5 million).
The phaseout threshold has risen to $4 million.
The pre-2022 definition of adjusted taxable income is restored, which could boost the value of business interest deductions.
7 . R&D Expense Deduction Restored
Good news for innovation: businesses can once again deduct all domestic R&D expenses in the year incurred, starting in 2025. This reverses the 2022 change that forced amortization over five or fifteen years.
Small businesses (under $31 million in average annual receipts) can apply the change retroactively for 2022–2024 by filing an amended return.
What this means: Immediate deductions could ease cash flow, and tracking U.S. vs. international research is now critical.
Final Thought
The OBBBA is far-reaching, and this summary covers the most employer-relevant provisions. As always, we recommend working with your accountant or financial advisor to identify how these updates apply to your business operations and to ensure you’re making the most of every available deduction.
Streamlining Operations and Enhancing Financial Management: A Case Study of Outsourced Accounting Solutions for a Small Restaurant
Client Background A growing independent restaurant in faced challenges managing its financial operations. With multiple revenue streams from counter service, third-party delivery platforms, and catering, the owner was struggling to maintain accurate records, reconcile daily sales, and understand key metrics like food costs and labor efficiency. To improve operations and gain financial clarity, the restaurant engaged Lumiere Strategies as their outsourced accounting partner.
The Challenge The restaurant operated on a legacy point-of-sale (POS) system (Toast) that was expereincing integration issues with their accounting software. Daily sales and deposits were being tracked manually, and inconsistencies between POS data and bank deposits made it difficult to reconcile revenue. Tips, delivery platform fees, and sales tax liabilities were often overlooked or inaccurately reported. The owner lacked visibility into food costs, labor ratios, and other critical KPIs.
Our Approach Lumiere Strategies implemented a comprehensive financial management solution tailored to the restaurant’s operations:
1. Point-of-Sale System Configuration and Integration
Resolved the Toast POS system integration with QuickBooks and made changes to optimize the tracking for settlement from both counter service and delivery.
Customized POS categories to reflect revenue sources: dine-in, delivery, online orders, catering.
Automated QuickBooks Online journal entries and daily sales reporting.
2. Revenue and Payment Reconciliation
Created daily reconciliation workflows to match POS reports to bank deposits, third-party delivery payouts, and merchant service statements.
Identified and managed exceptions (e.g., missing deposits, duplicate payments, tip discrepancies).
Segregated and tracked counter revenue, third-party delivery fees, and associated merchant processing costs.
3. Tip Tracking and Payroll Support
Established tip tracking protocols to align with IRS guidelines and payroll reporting.
Integrated with payroll providers to ensure proper allocation of tips and employer tax obligations.
4. Sales Tax and Compliance
Mapped sales categories to appropriate sales tax rates and jurisdictions.
Established reporting to provide transparency to sales tax liability and cash flow impacts.
Filed monthly sales tax returns and implemented monthly reconciliation processes to validate reported vs. collected tax.
5. Food Cost and Labor Best Practices
Developed a cost-tracking system by syncing vendor bills and invoice data into QBO, categorized by food, beverage, and packaging.
Calculated food cost percentages and provided monthly benchmarks.
Provided guidance on scheduling strategies to improve labor efficiency and manage overtime exposure.
The Results
Improved Accuracy: Reconciliation accuracy increased to over 98%, reducing time spent on manual review.
Actionable Insights: Monthly dashboards delivered clear metrics on food cost %, labor %, and profitability by revenue stream.
Sales Tax Compliance: 100% on-time filing rate and zero notices from taxing authorities.
Operational Efficiency: Restaurant staff were able to focus on service and kitchen operations while Lumiere managed financial backend tasks.
Conclusion By partnering with Lumiere Strategies, the restaurant transformed its financial management—from a manual, error-prone system to a streamlined, integrated process that supported growth and profitability. The customized approach empowered ownership with better insights, improved compliance, and more time to focus on what mattered most: delivering great food and service to their customers.
Strategic Planning Success: A 10-Step Guide to Building a Strong Roadmap for 2025 and Beyond
As Fall Sets In, It’s Time to Look Ahead
As the leaves begin to change color and the temperatures drop, many company leaders recognize that it’s time to start planning for the next year. This annual ritual is often one of the few times during the year when leadership can step back to evaluate the company's achievements, challenges, and potential growth opportunities. Here’s a 10-step process to make the most of this planning season and set your organization up for success in 2025.
1. Muster the Team
Strategic planning benefits from a diversity of perspectives, so it’s essential to bring together not just senior leaders and key stakeholders but also front-line employees who understand the day-to-day workings of the company. Including voices from all levels of the organization provides a fuller picture of current realities, encourages buy-in, and fosters a sense of ownership.
2. Reconfirm Vision, Mission, and Core Values
These foundational elements define why your company exists, what it aims to achieve long-term, and the values it upholds. Revisiting these principles helps ensure that your strategies remain true to the organization’s purpose and guides the development of meaningful goals. If these elements no longer resonate or align with the current direction, consider updating them to reflect where the company is headed.
3. Honestly Assess Where You Are Today – SWOT Analysis
A structured SWOT Analysis (Strengths, Weaknesses, Opportunities, and Threats) provides a clear picture of your company’s current position and helps set priorities. Use a four-quadrant grid to organize each component of the analysis for a thorough, balanced view:
• Strengths: Identify internal assets, skills, or advantages unique to your company. This might include specialized expertise, strong customer relationships, or technological capabilities that give you an edge.
• Weaknesses: Highlight internal challenges, such as skill gaps, limited resources, or inefficient processes, which may hinder growth. Recognizing these areas allows you to make improvements or allocate resources strategically.
• Opportunities: Examine external trends, customer needs, or emerging markets that could provide growth or expansion avenues. Look for ways to capitalize on these opportunities, such as launching new products or entering new markets.
• Threats: Assess external risks, such as competitor activity, regulatory changes, or economic uncertainties, that could negatively impact your company. Identifying these threats enables you to develop strategies to mitigate them.
To prioritize your findings, consider scoring each element by its potential impact and urgency. This structured format not only provides clarity but also enables your team to make informed decisions on which opportunities to pursue and which threats to address first.
4. Establish Clear and Measurable Targets
Setting clear, realistic goals over a 3-year time frame keeps everyone focused on achievable outcomes. By defining specific, measurable targets, you can more effectively track progress. Avoid overly ambitious goals that may feel unattainable; instead, aim for objectives that build momentum and lay a foundation for continued growth. Focus on a few high-priority objectives that will create meaningful impact.
5. Agree on Your Key Actionable Initiatives
To make progress toward your goals, develop concrete initiatives that respond to the findings from your SWOT analysis. Whether it’s expanding into new markets, launching new services, or improving efficiency, each initiative should be aligned with your objectives and prioritized based on its potential to drive success. Ensuring everyone agrees on this list of initiatives solidifies your roadmap for the coming years.
6. Create an Implementation Plan and Allocate Resources
Turning strategies into action requires a detailed implementation plan. Break down each initiative into specific tasks with clear timelines, milestones, and responsible individuals. Determine the resources each step will need, including budget, staffing, and tools. Make sure these resource allocations are backed by commitment from leadership and are sufficient to achieve each initiative’s goals.
7. Incorporate Flexibility into Your Plans
Since business conditions can shift rapidly, flexibility is key to staying resilient. By building adaptability into your plans, your team can better respond to new opportunities or challenges as they arise. Designate areas in your plan that can be adjusted as needed, and communicate with your team about the potential to reprioritize resources in response to changing conditions.
8. Communicate the Strategy and Initiatives
To create alignment across the organization, it’s vital to communicate the strategic direction and the role of each initiative. Introduce initiative leaders, explain the purpose of each effort, and clarify what’s expected from each team member. Regular communication ensures everyone understands how their role contributes to the broader objectives, which boosts motivation and commitment.
9. Develop a Culture of Accountability and Continuous Improvement
By fostering a culture that values accountability, team members become more invested in their work and committed to delivering results. Implementing key performance indicators (KPIs) for each initiative and linking them to performance evaluations encourages continuous improvement. Recognizing and rewarding incremental progress helps build momentum and ensures that improvement remains a priority.
10. Track Progress and Adjust
Regularly tracking progress allows for quick identification of successes and roadblocks. Set up monthly or quarterly check-ins to review initiative metrics, discuss challenges, and decide if any adjustments are necessary. This ongoing assessment cycle keeps the plan dynamic, ensuring that it remains relevant and effective throughout the 3-year timeline. Adjustments based on real-time feedback make the strategic plan a living document that can evolve as the company does.
By following these 10 steps, your organization can develop a strategic roadmap that promotes alignment, accountability, and adaptability, ensuring you’re well-prepared to meet the challenges and opportunities of the coming years. Strategic planning is a powerful investment in your company’s future, and Lumiere Strategies is here to help you make the most of it. With extensive experience guiding senior leaders and organizations through the strategic planning process, we bring the insights, tools, and expertise needed to build a robust and actionable plan tailored to your business. Contact us today at lumierestrategies.com to learn how we can support your organization’s journey to sustained growth and success.
Benefits of a PEO - hint it's the benefits!
Need an HR Department But Can’t Justify the Costs?
If you’re a small to medium-sized business (SMB), you likely recognize the importance of having professional HR management to handle administrative tasks while keeping your employees satisfied with competitive benefits. Offering big-business advantages like comprehensive health insurance, 401(k) plans, and other perks can enhance employee retention and attract top talent.
However, you might find yourself in a catch-22: your business is too small to afford a full-fledged HR department, yet you struggle to grow without these essential HR resources.
Fortunately, there’s a viable solution: hiring a Professional Employer Organization (PEO). A PEO allows you to offer your employees access to top-tier benefits that would otherwise be unattainable for your business. A number of Lumiere’s clients have discovered that partnering with a PEO is a cost-effective way to provide excellent employee benefits and HR support. PEOs can manage your payroll, benefits, HR administration, tax compliance, and regulatory obligations.
How Does a PEO Work?
When you engage a PEO, you and the PEO become co-employers. Responsibilities are clearly defined in a contract that outlines both parties' obligations. This partnership enables you to streamline HR processes, allowing your finance and management teams to focus on productivity and profitability.
Partnering with a PEO can lead to significant advantages for small and medium-sized businesses. According to recent studies, companies using PEOs experience 7% to 9% faster growth, 10% to 14% lower employee turnover, and are 50% less likely to go out of business. Access to improved benefits options can help you attract and retain top talent by providing employees with choices from well-known national insurance carriers.
PEOs typically charge either a flat fee per employee per month or a percentage of the total payroll. In ideal scenarios, savings from healthcare premiums and reduced payroll and HR costs can offset the PEO fees, making it a financially viable option.
What Are the Benefits of a PEO?
In addition to enabling you to offer competitive health insurance, here are some additional benefits provided by a PEO:
Comprehensive Payroll and HR Administration: Efficient management of payroll, benefits, and compliance tasks.
Employee Onboarding: Streamlined processes for new hires to ensure they integrate smoothly into your organization.
Benefits Enrollment: Assistance with employee benefits selection and enrollment.
Tax Remitting and Filing: Accurate management of tax obligations to avoid penalties.
Enhanced Competitive Benefits: Offering high-quality benefits that are often beyond the reach of smaller businesses.
Retirement Plans: Access to 401(k) plans and other retirement savings options.
Flexible Spending Accounts: Health savings options to increase employees' take-home pay.
COBRA Administration: Compliance management for COBRA benefits.
Government Compliance Support: Minimizing risks associated with regulatory compliance without adding to your workforce.
Workers’ Compensation and Employment Practices Liability Insurance (EPLI): Coverage to protect your business and employees.
Affordable Care Act (ACA) Support: Assistance with ACA compliance and reporting.
Professional HR Guidance: Expert advice to navigate complex HR challenges.
Is a PEO the Right Choice for You?
If you’re considering whether a PEO is the right fit, start by clarifying your needs regarding HR administration, risk management, and the benefits you want to offer. Here are some steps to take:
Evaluate PEO Offerings: Investigate what each PEO provides and how it aligns with your business needs.
Ask Questions: Inquire about how benefits are funded and managed.
Understand Pricing Models: Make sure you comprehend the costs based on your current size and projected growth.
Review Client Portfolios: Look for PEOs with expertise in your industry.
Request References: Speak to other businesses that have partnered with the PEO.
Let Us Help You
If you believe a PEO could benefit your business, you’re likely on the right track. As you begin your research into PEOs, consider keeping us in the loop. At Lumiere, we do not sell PEO services, allowing us to provide independent advice tailored to your needs.
We have experience working with many major PEOs, including:
ADP TotalSource: A leader in the PEO market, ADP offers a familiar platform with extensive resources. Their pricing is a flat fee per employee.
TriNet: A technology-driven payroll and HR solution that specializes in supporting specific industries. Their pricing is also a flat fee per employee.
Insperity: Provides a full-service HR solution managed by professionals, along with Human Capital Management software. Their pricing is based on a percentage of gross payroll.
Justworks: A newer, tech-focused solution offering intuitive mobile and web interfaces, with live chat support and competitive flat fees per employee.
For additional recommendations, check out resources from the National Association of Professional Employer Organizations (NAPEO).
Once you choose a PEO, you’ll find that most offer user-friendly technology that can be easily integrated into your existing systems. However, if you encounter challenges during the transition, Lumiere is here to assist you in optimizing your new PEO services. We’re committed to supporting your financial and HR needs.
Elevating the Family Office Experience: How Outsourced Accounting Empowers Private Client Professionals
For private client advisors, estate attorneys, and family office managers, every detail matters. From reconciling household spending to coordinating estimated tax payments, the day-to-day demands of serving high-net-worth families are complex, nuanced, and deeply personal. That’s where outsourced accounting can make a real difference—not just in managing the numbers, but in enhancing the level of service you provide to your clients.
Clarity Through Customized Reporting
Whether your clients are tracking philanthropic giving, investment withdrawals, or household budgets, timely and tailored reporting is key. Our team produces clear, consolidated spending reports that allow professionals to:
Analyze trends in personal and household expenditures
Break out credit card usage by category or family member
Track transfers, reimbursements, and recurring obligations
With access to these insights, family office professionals are better equipped to advise on budgeting, trust distributions, and cash flow planning.
Household Payroll Without the Headaches
Managing payroll for domestic employees can be a minefield of compliance and confidentiality. We simplify the process:
Payroll setup and direct deposit for household staff
Filing and remitting household employment taxes
Year-end W-2s and compliance with federal and state regulations
This allows private client professionals to stay focused on the big picture while knowing that sensitive employment tasks are handled with precision.
Proactive Tax Compliance
With multiple residences, shifting investments, and evolving estate structures, family offices require tax readiness year-round. Our services include:
Coordination of quarterly estimated tax payments
Tracking and remittance of property taxes across jurisdictions
1099 tracking for service providers and contractors
We collaborate closely with your client’s tax advisor to ensure timely filings and reduce surprises.
A Trusted Back-Office Partner
Outsourced accounting isn’t just about efficiency—it’s about trust. We operate as an extension of your team, with discretion, consistency, and a deep understanding of the family’s financial ecosystem.
From reconciling investment accounts to coordinating with attorneys and CPAs, we help private client professionals stay organized, responsive, and ahead of schedule.
Final Thought
Private client service is about more than managing wealth—it’s about making life smoother for the families you support. With an outsourced accounting partner, you gain the structure, systems, and expertise to do just that.
Let’s talk about how we can support your work behind the scenes—so you can stay focused on what matters most.
5 Benefits of an ePayroll Solution
Is your business aiming to "go green" affordably? Do you want to reduce your carbon footprint and save money at the same time? With an ePayroll solution, your company can achieve both goals—and more! Here are the top five benefits of switching to an ePayroll system:
1. Saves Time and Money
As a small business owner, time is one of your most valuable assets. At Lumiere, we understand that your time is best spent growing your business, not handling payroll errors. With ePayroll solutions, you’re backed by an experienced payroll team and an efficient electronic system, making payroll processing seamless. If a rare system malfunction occurs, most ePayroll providers are insured, ensuring your business is not held liable.
While payroll itself doesn’t generate revenue, by reducing labor and administrative costs, an ePayroll system can contribute to your bottom line. Through simplified processes, automation, and minimized errors, you can reallocate resources toward areas that drive growth and profitability.
2. Secure and Reliable
Protecting sensitive employee information is essential, especially given the rise in identity and cyber theft. ePayroll systems offer high-level data encryption and secure servers, reducing the risk of data breaches. By going paperless, you also eliminate the possibility of physical pay stubs being lost or stolen. Top providers like Gusto, ADP, and QuickBooks Online Payroll offer advanced security features to protect your business and employees, making ePayroll a more reliable, secure solution.
3. Enhanced Employee Experience
A digital payroll system doesn’t just benefit employers; it makes life easier for employees too. No more lost pay stubs or requests for duplicate copies—ePayroll solutions allow employees to access their pay history and tax forms anytime, anywhere. Many platforms now include mobile apps for convenience, allowing employees to review their paychecks on the go.
With quick access to their payment history and tax documents, employees can better manage their finances, enhancing overall satisfaction and workplace efficiency.
4. Reduced Paper Waste & Storage Needs
According to the Paperless Project, “In the last 20 years, the usage of paper products has increased from 92 million tons to 208 million.” Much of that paper ends up in U.S. landfills, where paper waste is one of the largest components. On average, each American uses more than 700 pounds of paper annually, a significant portion of which comes from printed payroll documents.
According to the American Payroll Association’s Getting Paid In America survey by the American Payroll Association, over 3% of Americans still receive paper pay stubs, and 72% still receive both paper and electronic W-2s. Implementing an ePayroll solution will not eliminate all paper usage, but it can substantially reduce it. Switching to ePayroll is a simple, impactful step toward a greener, more sustainable business.
5. Real-Time Payroll Data and Reporting
An ePayroll solution provides immediate access to real-time payroll data and comprehensive reporting. This benefit is invaluable when making financial decisions, managing cash flow, or preparing for tax season. Many ePayroll platforms offer customizable reports on wage expenses, overtime, and other critical data points that can be accessed anytime and help guide informed business decisions.
Leading ePayroll Providers in 2024
Here’s a quick look at some of the top ePayroll providers this year:
Gusto: Known for its user-friendly interface, Gusto offers comprehensive payroll and HR tools, automated tax filing, and strong security measures. It’s an excellent choice for small and medium-sized businesses.
ADP: A trusted industry leader, ADP provides scalable payroll solutions that can grow with your business. It includes options for benefits administration, HR services, and tax filing, making it ideal for larger companies with complex needs.
QuickBooks Online Payroll: Perfect for businesses already using QuickBooks, this payroll system offers seamless integration with accounting and tax tools, along with automated payroll and tax filing.
Paychex: Known for flexibility, Paychex offers solutions for businesses of all sizes. It includes payroll processing, HR tools, compliance assistance, and employee benefits management.
Rippling: Rippling combines payroll with IT and HR services, offering unique features such as device and app management for employees. It’s a good choice for businesses seeking comprehensive employee management.
With Lumiere, we’re committed to helping clients save time, cut costs, and create more efficient workflows. An ePayroll solution does just that—and as a Lumiere client, you can relax while we handle the details of converting your payroll system.
Ready to go digital? Schedule a call to discuss how an ePayroll solution can benefit your business!
Achieving Financial Success in the Restaurant Industry: Optimizing COGS, Labor, and Expenditure Ratios
Running a successful restaurant involves more than just serving delicious food—it requires careful management of finances to ensure profitability and sustainability. One key aspect of financial management is maintaining optimal ratios for cost of goods sold (COGS), labor, and both controllable and non-controllable expenditures. In this blog post, we'll explore the best ratios for these categories and provide strategies for achieving financial success in the restaurant industry.
Cost of Goods Sold (COGS):
COGS represents the direct costs associated with producing the food and beverages sold in your restaurant. This includes ingredients, packaging, and any other materials directly used in food preparation.
Ideally, COGS should be kept between 25% to 35% of total revenue. However, this can vary depending on factors such as the type of cuisine and the pricing strategy of the restaurant.
To optimize COGS:
Source high-quality ingredients at competitive prices by negotiating with suppliers and exploring bulk purchasing options.
Implement portion control measures to minimize waste and maximize profitability.
Regularly review menu items to identify low-margin dishes and consider adjusting prices or recipes accordingly.
Labor Costs:
Labor costs encompass wages, benefits, and payroll taxes paid to employees. Proper management of labor costs is essential for maintaining profitability while ensuring adequate staffing levels to deliver quality service.
The ideal ratio for labor costs is typically between 25% to 35% of total revenue, although this can vary based on factors such as the restaurant's service model and peak hours.
Strategies to optimize labor costs include:
Implementing efficient scheduling practices to match staffing levels with demand, particularly during peak hours.
Investing in employee training to improve productivity and reduce turnover.
Monitoring and adjusting labor budgets based on sales forecasts and performance metrics.
Utilizing technology solutions such as scheduling software to streamline workforce management processes.
Non-Controllable Expenditures:
Non-controllable expenditures consist of fixed costs such as rent, utilities, insurance, and property taxes. While these expenses cannot be easily adjusted in the short term, managing them effectively is crucial for overall financial health.
Non-controllable expenditures should ideally be kept below 30% of total revenue to ensure sufficient funds for other operational expenses and profit margins.
Strategies for managing non-controllable expenditures include:
Negotiating favorable lease terms with landlords and exploring opportunities for rent abatement or reduction.
Implementing energy-efficient measures to reduce utility costs.
Reviewing insurance policies annually to ensure adequate coverage at competitive rates.
Controllable Expenditures:
Controllable expenditures encompass variable costs such as marketing, advertising, maintenance, and equipment expenses. While these costs can be adjusted more easily than fixed expenses, careful management is still necessary to optimize profitability.
Controllable expenditures should be allocated judiciously to initiatives that yield the highest return on investment (ROI) and contribute to revenue growth.
Strategies for managing controllable expenditures include:
Developing a comprehensive marketing plan that targets the restaurant's key demographics and utilizes cost-effective channels such as social media and email marketing.
Implementing preventive maintenance programs to extend the lifespan of equipment and minimize repair costs.
Negotiating favorable contracts with vendors and suppliers to obtain discounts and volume pricing.
Maintaining optimal ratios for COGS, labor, and expenditures is essential for achieving financial success in the restaurant industry. By implementing strategies to control costs, optimize efficiency, and maximize revenue, restaurant owners can enhance profitability while delivering exceptional dining experiences to their customers. Regular monitoring and adjustment of financial metrics are key to ensuring long-term sustainability and growth in this competitive market.
10 Proven Strategies to Boost Revenue and Increase Visits at Your Restaurant
Are you a restaurant owner looking to enhance customer loyalty and drive more revenue from your existing clientele? In today's competitive food industry landscape, it's essential to continually innovate and implement strategies that keep customers coming back for more. Whether you run a cozy cafe, a bustling bistro, or an upscale dining establishment, here are ten proven ways to increase existing customer revenue and visits at your restaurant:
Implement a Loyalty Program: Reward your loyal customers with a structured loyalty program. Offer incentives such as discounts, free meals, or exclusive access to special events. By providing tangible benefits for repeat visits, you can strengthen customer retention and encourage regular patronage.
Enhance Customer Experience: Focus on delivering exceptional customer service and creating memorable dining experiences. Train your staff to be attentive, friendly, and knowledgeable about the menu. Pay attention to details such as ambiance, cleanliness, and presentation to ensure that every visit exceeds customer expectations.
Offer Personalized Recommendations: Leverage customer data and technology to provide personalized recommendations based on past orders and preferences. Use customer feedback to tailor menu suggestions, promotions, and special offers, increasing the likelihood of upselling and cross-selling opportunities.
Host Special Events and Promotions: Spice up your restaurant's calendar with special events, promotions, and themed nights. Whether it's a wine tasting, live music performance, or holiday celebration, these events can attract new customers and entice existing ones to return for a unique experience.
Optimize Online Presence: Invest in a user-friendly website, social media presence, and online ordering platform. Make it easy for customers to find your restaurant, view the menu, make reservations, and place orders for pickup or delivery. Engage with your audience through regular updates, promotions, and mouth-watering food photography.
Introduce Limited-Time Offers: Create a sense of urgency and excitement by introducing limited-time menu items, seasonal specials, or chef's creations. Promote these offerings through various channels to generate buzz and drive traffic to your restaurant.
Partner with Local Businesses: Collaborate with neighboring businesses, hotels, or event venues to cross-promote each other's offerings. Consider offering exclusive discounts or package deals to customers who patronize both establishments, fostering a sense of community and mutual support.
Invest in Online Reviews and Reputation Management: Monitor online review platforms such as Yelp, Google My Business, and TripAdvisor to gauge customer feedback and address any concerns promptly. Encourage satisfied customers to leave positive reviews and testimonials, which can boost your restaurant's reputation and attract new patrons.
Offer Delivery and Takeout Options: Cater to the growing demand for convenience by offering delivery and takeout options. Partner with third-party delivery services or develop your own in-house delivery system to reach customers who prefer dining at home. Ensure that your packaging is attractive and branded to maintain consistency with the in-restaurant experience.
Continuously Innovate and Refresh Your Menu: Keep your menu fresh and exciting by introducing new dishes, seasonal ingredients, and culinary trends. Experiment with innovative flavors, dietary preferences, and cultural influences to cater to a diverse range of tastes and preferences. Regularly update your menu to give customers a reason to return and explore new offerings.
By implementing these ten strategies, you can effectively increase existing customer revenue and visits at your restaurant while fostering long-term loyalty and satisfaction. Remember to adapt and refine your approach based on customer feedback, market trends, and the unique characteristics of your establishment. With dedication, creativity, and a focus on customer satisfaction, you can achieve sustained growth and success in the competitive restaurant industry.
How To Grow Your Business Leveraging the Power of Outsourced Services
In an era where efficiency, agility, and strategic focus are paramount, businesses are increasingly turning to outsourced services to unlock their full potential. Outsourcing offers a dynamic solution for companies looking to optimize operations, reduce costs, and enhance their overall competitiveness. In this blog post, we'll delve into the myriad ways businesses can harness the power of outsourced services to propel their growth and success.
Focus on Core Competencies: Outsourcing non-core functions allows businesses to redirect their valuable time and resources towards core competencies. By entrusting routine tasks to specialized service providers, organizations can sharpen their focus on strategic activities that directly contribute to their unique value proposition and competitive advantage.
Cost Savings and Operational Efficiency: Outsourcing offers a cost-effective alternative to hiring and training in-house staff for specific functions. Businesses can benefit from the expertise of skilled professionals without the overhead costs associated with maintaining an extensive in-house team. This not only results in immediate cost savings but also enhances operational efficiency.
Access to Global Talent Pool: Outsourcing transcends geographical boundaries, providing businesses with access to a diverse and global talent pool. This allows companies to tap into specialized skills and knowledge that may not be readily available in their local labor market, fostering innovation and competitiveness on a global scale.
Scalability and Flexibility: Outsourced services offer scalability and flexibility to adapt to changing business needs. Whether facing seasonal fluctuations or sudden growth, businesses can easily adjust the scope of outsourced services without the complexities of hiring, training, or downsizing an in-house team.
Risk Mitigation: Sharing certain business functions with trusted outsourcing partners helps distribute risks. Outsourced service providers often assume responsibility for compliance, technology updates, and other operational risks, allowing businesses to navigate uncertainties more effectively.
Enhanced Technology and Innovation: Outsourced service providers often invest in state-of-the-art technologies and stay abreast of industry innovations. By leveraging their technological infrastructure, businesses can access cutting-edge tools and solutions without the need for significant upfront investments, enhancing their competitiveness in a rapidly evolving market.
Focus on Customer Satisfaction: Outsourcing allows businesses to channel their energies towards customer-centric activities. Whether it's improving product quality, refining customer service, or enhancing the overall customer experience, businesses can elevate customer satisfaction levels by concentrating on what truly matters to their clientele.
Agile Business Operations: In a dynamic business environment, agility is a key differentiator. Outsourcing provides businesses with the agility to respond quickly to market changes, regulatory requirements, and customer demands, positioning them for sustained growth and adaptability.
The power of leveraging outsourced services extends far beyond mere cost reduction. It empowers businesses to refocus on their core strengths, tap into global expertise, and navigate the complexities of today's business landscape with resilience and innovation. By strategically integrating outsourced services into their operations, businesses can unlock new levels of efficiency, flexibility, and growth, ultimately propelling them towards long-term success in a competitive marketplace.
Exploring 401(k) Options for Small Businesses: A Comprehensive Guide
Running a small business comes with a myriad of responsibilities, and one key aspect often overlooked is providing retirement benefits for employees. A 401(k) plan is an excellent way to help your team save for the future while attracting and retaining top talent. In this blog post, we'll explore the various options available for small businesses looking to implement 401(k) plans.
Traditional 401(k) Plans: Traditional 401(k) plans are the most common retirement savings vehicles. They allow employees to contribute a portion of their pre-tax income, reducing their taxable income for the year. Employers can also choose to match a percentage of employee contributions, providing an additional incentive for participation.
Safe Harbor 401(k) Plans: Safe Harbor plans are designed to automatically pass non-discrimination testing, making them an attractive option for businesses aiming to avoid compliance issues. With Safe Harbor, employers are required to make contributions to employees' accounts, either through matching contributions or non-elective contributions.
Simple 401(k) Plans: Simple 401(k) plans are specifically tailored for small businesses with fewer than 100 employees. They offer lower administrative costs and simplified procedures for both employers and employees. While employer contributions are optional, employees can make salary deferral contributions, and employers have the flexibility to either match contributions or make non-elective contributions.
Professional Employer Organizations (PEOs): Small businesses can explore the option of joining a PEO to gain access to retirement plans offered by the PEO. PEOs aggregate employees from multiple small businesses, potentially providing cost savings, administrative efficiency, and access to a broader range of retirement benefits.
Choosing the right 401(k) plan for your small business involves considering factors such as the number of employees, budget constraints, and the level of administrative involvement you desire. By carefully assessing your needs and exploring the options outlined above, you can provide a valuable employee benefit that not only supports your team's financial future but also contributes to the overall success and competitiveness of your business. Remember, a well-structured 401(k) plan not only benefits your employees but can also be a strategic tool for attracting and retaining top talent in the competitive business landscape.