According to the National Restaurant Association (NRA), there are more than 1 million restaurant locations in the U.S. with 12.5 million employees. Even in these changing times, the industry is still a major employer. See some sample Objectives and Key Results (OKRs) for restaurant franchises below.
OKRs For Restaurant Franchises
Objective: Increase franchisee revenue.
KRs:
- Increase sales by 3%.
- Have 150 people buy the holiday promo.
- Increase average check size by 5% to $6.25.
- Increase catering sales by 10%.
Initiatives:
- Put crew through upsell training.
- Increase coffee prices by 10%.
- Execute one holiday social media campaign.
- Cold call 100 local businesses to discuss catering.
Objective: Adapt to changing operating environment.
KRs:
- Make online orders 30% of total sales.
- 0 days shut down for sanitization due to an infection.
- Average cleanliness audit/self-assessment compliance exceeds 85%.
- Maintain 12 months of financial runway.
Initiatives:
- Install plexiglass around all cash registers.
- Check staff wellness at the start of each shift.
- Perform daily cleanliness self-assessments in FranConnect.
- Secure a $100,000 bank loan.
Objective: Increase franchisee profitability.
KRs:
- Make the seasonal beverage category 20% of total sales (or another strategic, high margin category).
- Keeps COGS (cost of goods sold) under 33% of sales.
- Keep labor costs under 33% of sales.
- Obtain an average online rating above 4 stars on Google.
Initiatives:
- Reduce evening staff by two people.
- Engage in a Facebook campaign about seasonal beverages.
- Perform weekly theoretical versus actual food cost reviews.
- Perform daily reviews of Google review feedback.
Hopefully these sample objectives and key results have helped you out. Do you want to take it a step further? Learn more about strategy and restaurants by checking out the following:
About Objectives and Key Results in Franchising
How to be a Collaborative Franchise Business Coach (FBC)
Ian Walsh
