Revenue management for restaurants

What you'll learn
Understanding the importance of revenue management
What is revenue management
How to control duration time
How to control arrival time of guests
Applying restrictions to reservations
Learn the importance of forecasting
Wait line management
Pricing strategies and when to apply
Hot revenue management
The importance of RevPASH
Optimizing table and seating mix
Understanding the importance of the service cycle
How to manipulate the service cycle
Why and when seat turnover is important
Understading and setting up a loading chart
Requirements
Basic understanding of restaurants
Basic understanding of math
Basic understanding of spreadsheets
Description
This course 'Revenue management for restaurants' is based towards students who are somewhat new to the restaurant industry or small business owners who want to learn more about revenue management for their restaurant.
Revenue management is an important strategy to apply to increase or maximize profits. While setting up a revenue system is not an easy task, it is important to have such a system in place. In this course we will discuss some elements and how to incorporate these into a system to increase revenue for your restaurant.
If you have little to no experience when it comes to revenue management this course will help you understand what it is and how a revenue system contributes to your business. In this course we will try to break a complex strategy down into smaller more easy to understand parts, so you can start implementing these in your restaurant.
Together we will discuss all the basics of revenue management and go over some of the steps needed to set up a simple system. By the end of this course you will have a solid foundation and basic understanding of, what revenue management is, why it is important to have such a system in place and what elements are involved in performing revenue management.
When you've finished this course you'll understand concepts like, time duration control, price level criteria and factors, how market segmentation plays a big role and how waiting line management is important for your revenue. You'll be able to calculate displacement costs and set up a load chart for your restaurant. Besides that you'll be able to calculate the table and seating mix to optimize seating your customers.
Who this course is for
Restaurant owners
Hotel owners
Revenue managers
Beginner restaurant managers
Restaurant managers
Homepage

https://www.udemy.com/course/revenue-management-for-restaurants/