The Restaurant Prosperity Formula

In the restaurant industry, success is defined by more than just the quality of food — it's about having control over your business and achieving financial freedom. One of the most crucial aspects of this journey is mastering food inventory management. In this episode of season two of my podcast, The Restaurant Prosperity Formula, I’m sharing five advanced tips that can transform how you manage your inventory and, ultimately, boost your restaurant’s bottom line. Use what you learn in this podcast to elevate your restaurant and achieve the prosperity you've been working towards.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

When it comes to managing your restaurant’s cost, you absolutely can’t ignore labor. It is the second biggest expense in a restaurant – after an empty seat in the restaurant. Labor cost management is an essential topic for achieving restaurant prosperity and financial freedom. The last few episodes of The Restaurant Prosperity Formula podcast have been a collection of some of my best and most popular tips on three very popular categories for restaurant owners: food cost (Episode 101), systems (Episode 102) and leadership (Episode 103). In this episode of my podcast, The Restaurant Prosperity Formula, I’m serving up a collection of some of my best and most effective labor cost lessons and tips. You’ll learn how to calculate labor cost, how to manage them and how to avoid common pitfalls.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

Leadership is not just a buzzword; it’s the driving force behind every successful restaurant. By combining leadership with action, systems and training, you can create prosperity for yourself and your restaurant. In this episode of The Restaurant Prosperity Formula, I’m sharing some of my best leadership insights from past podcast episodes to highlight the critical importance of leadership in the restaurant industry. I explore why leaders matter, the role of a growth mindset in developing leadership skills, and specific behaviors and attitudes that hinder effective leadership. Additionally, I’ll share four action steps to increase your management team's responsibilities, allowing you to lead your restaurant instead of merely running it.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

Today's special recap episode of my restaurant podcast, The Restaurant Prosperity Formula, is focused on systems and why they’re so important in restaurant management. You’ll learn what I mean by systems, why they are crucial and how you can use them specifically in the kitchen to safeguard your restaurant when you lack a culinary background. We'll also discuss how systems impact your restaurant and ultimately your life. And last but not least, I share a portion of an interview with restaurant employee Brandon Anderson, who helped his owner implement systems that significantly benefited the restaurant, the owner, and Brandon himself. Whether you're new to my podcast or a longtime listener, this is an episode you won't want to miss.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

For this special episode of my podcast, The Restaurant Prosperity Formula, I’m sharing some of the best tips from previous episodes, focusing on key areas such as food cost systems, leadership, and labor cost. This episode is dedicated to food cost. We’ll explore how high food costs are often self-inflicted, provide a quick walkthrough on calculating food cost, delve into the concept of ideal food cost, and finish with some menu engineering basics. Whether you're a new listener or a long-time follower, this episode is packed with valuable insights. Let’s get started!🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

Achieving prosperity in the restaurant business means gaining financial freedom and the freedom to enjoy your life beyond the restaurant. It’s not just a dream; it’s a reality you can attain by following a specific formula. In this episode of my restaurant podcast, The Restaurant Prosperity Formula, I take you through a critical component of that formula: the power of a professional attitude. Incorporating the principles I review in this episode can transform your restaurant. Not only will you see improvements in customer satisfaction and sales, but you'll also create a thriving work environment for your team.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

You might have heard the saying, "People don't quit jobs; they quit managers." This is particularly true in our fast-paced, high-stress industry. A toxic manager can create a negative atmosphere and fail to lead by example, significantly affecting morale and productivity. In this episode of my restaurant podcast, The Restaurant Prosperity Formula, I am breaking down undeniable impact toxic managers have on your restaurant. I also outline how you can create and maintain a positive work environment, specifically by creating a positive culture in your restaurant. I will also cover how to build up your team’s confidence in that culture so they help you keep toxic managers out of your restaurant.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

A lot of restaurant owners think the secret to making money is marketing, but so often it ends up costing way more money than it ever generates because there is a right way and many wrong ways to do it. Since I focus on teaching restaurant owners how to make money through operational systems, I like to bring in outside experts to talk about restaurant marketing. This episode of The Restaurant Prosperity Formula podcast is a discussion with Eric Shellenberger. He is an author and owner of Bar Marketing Basics, a marketing firm that focuses on bringing in new customers into your restaurant or bar. Shellenberger is a repeat guest here. He has been on a quest to help restaurant and bar owners stop buying into the myth that other restaurant marketing companies are selling and start bringing in real traffic through your doors. I've brought him back not be just because his first episode was so popular but because he released a new book entitled "If I Could Give It Zero Stars, I Would." During our discussion he shares with you the importance of understanding how AI has changed what a restaurant needs to do to stay ahead of their competition and increase your sales. Find Eric Shellenberger's book: If I Could Give It Zero Stars, I Would🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

When it comes to being profitable in the restaurant business, it’s important to maximize your efficiencies. One way to do that is to upgrade how you track your food cost, making food costing software a critical component of running your restaurant. Food costing software isn't just an upgrade; it's a revolutionary shift in how you approach your operation from managing expenses to optimizing each dish that comes out of your kitchen. In this episode of my restaurant podcast, The Restaurant Prosperity Formula, I’m teaching you how to use food costing software to boost your restaurant's efficiency and profitability. Listen to learn five key benefits and the impact each one has on your restaurant.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

If there's one thing I've heard time and again from restaurant owners, it's, “I love your stuff, David. I've read your book, seen you speak, listen to your podcast and watch your YouTube videos, but I just don't know where to start.” If you want to take action and start to improve your restaurant and your life, and you’re asking the same question, you're in exactly the right place. For this episode of my restaurant podcast, The Restaurant Prosperity Formula, I’m tackling that very question, laying out a clear and actionable road map to not just start but to thrive. To make it easy to follow and understand, I've broken it up into seven segments: back to basics, the power of checklist and cash controls, vision and goals, the backbone of daily operations, crafting your financial blueprint, maximizing margins and managing labor efficiently.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

Four years after the pandemic, I’m working with restaurant owners who are still suffering whiplash and struggling to find a path forward for their restaurants. I don’t have to tell you, but it was an intense time. Restaurant owners went from a complete shutdown of their restaurants and sending employees to the unemployment office to the frantic offer of money from the government and the incentives offered to employees to work through the unknown challenges. These days restaurant owners are working through the long-term consequences of taking that money and how to run their restaurants in this new landscape. The bottom line is things changed after pandemic. Costs are up, staff have different expectations and restaurant owners don’t want to be prisoners to their restaurants. In this episode of my restaurant podcast, The Restaurant Prosperity Formula, I am talking about how it's time for every restaurant owner to embark on change or possibly get swallowed up by the shifting sands of industry change and financial stresses you’re facing as a restaurant operator today.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

I recently had a coaching call with a restaurant owner whose business was struggling. He and his wife needed an outside perspective, and they turned to me to help them review their options. The call we had highlights the transformative power of resilience, strategic planning and the courage to embrace change. In this episode of my restaurant podcast, The Restaurant Prosperity Formula, learn more about what exactly was challenging their establishment, the discoveries we made and the next steps I recommended they take. The situation the restaurant owners are in isn’t uncommon but the resources they tapped are what make this situation stand apart. I’m confident they got the best counsel and insight from me and their fellow members, and I hope listeners can benefit as well.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

As a restaurant owner, there are many things you have to do right to be successful. It really is a business of spinning many plates at once. One thing I’ve found in the most successful restaurant owners I know is how they approach their role as a leader and how their mindset makes all the difference. In this episode of my restaurant podcast, The Restaurant Prosperity Formula, I’m sharing 10 critical mindset questions that serve as reflections into how your leadership is shaping your team's environment. Reflecting on these questions and engaging with the answers can be a game-changer for restaurant owners. The goal is to create a culture where challenges are met with courage, feedback fuels growth, and every team member feels valued and empowered.

A successful restaurant is one that delivers on the promise to it guests. That's hot food hot, cold food cold, a clean safe work environment for your guests and employees, WOW customer service and providing an incredible product. That's what restaurant owners are put on this earth to do, right? To create memories. We have the pleasure and the privilege to create memories in people's lives. In this episode of my restaurant podcast, the Restaurant Prosperity Formula, I focus on Restaurant 101, exploring the alchemy of perfect meal temperatures, the sanctuary of our dining havens, the ballet of exemplary service, the craftsmanship behind an unforgettable product and the finesse of the now indispensable to-go experience. Join me to uncover the blueprint of systems, training and the art of hospitality that transform a simple meal into an incredible memory. You’ll learn how diligently applying systems, committing to continuous training, maintaining unwavering consistency and delivering soulful hospitality, you can create experiences that linger long after the last bite.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

I tell restaurant owners all the time that their POS system is the most important piece of equipment they will ever purchase for their restaurant. The POS system is much more than a glorified cash register; it’s data central. It holds the key data you can use to change your business, prevent theft and make meaningful changes to your operations. In this episode of my podcast, The Restaurant Prosperity Formula, I review some of the most powerful and little-known reports your POS system has to offer. This includes four underutilized, yet essential, reports that are critical to harnessing the power of your POS system. With only the reports you have at your fingertips in your POS system, you will have the building blocks of informed decision-making so you can lead with confidence, and ensure efficiency, profitability and success in your restaurant. 🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

There’s a little known and underutilized tool that can reduce a restaurant’s food cost by potentially 3% or more. All that is required is for a restaurant to gather some simple data and take a little action. How would you like to reduce your food cost by simply gathering data? Does this sound too good to be true? I promise you, it’s not. In this episode of my podcast, The Restaurant Prosperity Formula, I explain what kind of information you need to gather, where to get the information, what to do with it and what you can expect when you use it the way I explain. By the end of this lesson, you will be in a position to take action and put yourself down this path.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

When it comes to following restaurant systems every day, restaurant owners are notorious for falling down on the job. They are just too busy in other areas and they lose sight of the daily routine things that are required to keep systems working properly. Besides, the job of a restaurant owner isn’t to be buried in the day to day; it’s to be strategic and to think bigger than daily tasks. If it’s not the restaurant owner, then who should it be? Restaurant owners must appoint someone who gets stuff done, who loves the restaurant and wants to support the owner. I call this person an implementer. In fact, to be part of my restaurant coaching program, you must have an implementer. In the program your implementer learns with you but implements and does the work. In this episode of my podcast, The Restaurant Prosperity Formula, I introduce you to Brandon Anderson, the implementer for the Original Black's Barbecue in New Braunfels, Texas, a high volume, 93-year-old, family-owned-and-operated barbecue business. With 12-plus years of restaurant experience working his way up from line employee, shift lead, and assistant manager to general manager, Anderson has experienced a lot in his restaurant life. He’s worked for several corporate restaurants until ultimately landing at Original Black’s Barbecue. The ownership team knew Anderson was the exact right person to be the implementer, and they were right. Listen to this episode to learn more about the impact of systems, the job of an implementer, and Anderson’s implementation journey, the challenges faced and lessons learned, and also what a great implementer looks like.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

Jesi Cline is a restaurant owner who started her business as a bakery specializing in cupcakes and custom wedding cakes. While she found success, she was working endless hours to keep up with orders and had no time to be strategic with her business. When COVID hit, she needed to pivot and rebranded as Rosé Café, a fast casual breakfast, lunch and dessert cafe. And recently, she expanded her restaurant and doubled her square footage. With six years in business and eight years as a wife and mother, her life has been nothing short of busy. In this episode of my podcast, The Restaurant Prosperity Formula, Cline shares her journey from being burnt out on the food industry to being a happy, motivated restaurant owner who can see only a bright future ahead of her.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com 

What might be second nature to a seasoned chef, a manager or owner with decades of experience can be a revelation to someone just embarking on their restaurant journey. It's essential to remember that our industry, with its vast array of roles and responsibilities, doesn't have a universal baseline of “common sense.” In the restaurant industry, “common sense” is a relative term. For some veterans, certain practices and insights might seem obvious, but for others, these are the essential skills and knowledge that lay the groundwork for their future success. Each piece of advice, no matter how simple it may seem, can be a building block for someone's career. In this episode of my podcast, The Restaurant Prosperity Formula, I talk about why this diversity of experience and knowledge in our industry makes what seems like “common sense” to one person a critical learning point for another. And let’s make sure we address that you should never let someone make you feel bad about learning, no matter where you are in your restaurant journey. 🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com

As a restaurant owner and the leader of your business, it is common to feel as if it’s the universe’s job to throw roadblocks in your way to discourage you and impede your progress. I’m here to encourage you and point you toward practical, actionable solutions that will help you overcome these obstacles. In this episode of my podcast, The Restaurant Prosperity Formula, I explore three distinct segments to help you unlock the full potential of your restaurant. I cover internal challenges, operational hurdles, and external and personal challenges. Whether you're a seasoned restaurateur or just starting out, I want to equip you with the tools and insights needed to steer your restaurant towards greater success and prosperity.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com