What is Restaurant benchmarking?
Restaurant benchmarking is comparing key metrics against industry averages or similar competitors. It includes indicators like reviews, online visibility, order frequency, and average ticket. It helps identify gaps and improvement opportunities.
Why it matters for restaurants
- Know if current performance is above or below market
- Identify specific areas to improve
- Set realistic goals based on industry data
Example applied to a restaurant
A group of 3 restaurants in Bogotá compared their average rating (4.1) against their area benchmark (4.4). They identified that competitors had 3x more photos on Google and responded to reviews within 24 hours. After matching those practices their rating rose to 4.3 in 3 months.
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