Feb 1, 2021

Restaurant Franchises: Sample Objectives and Key Results (OKR)

Written by FranConnect

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

 
Objective: Increase franchisee revenue.
 
  1. KRs:
    1. Increase sales by 3%.
    2. Have 150 people buy the holiday promo.
    3. Increase average check size by 5% to $6.25.
    4. Increase catering sales by 10%.
  2. Initiatives:
    1. Put crew through upsell training.
    2. Increase coffee prices by 10%.
    3. Execute one holiday social media campaign.
    4. Cold call 100 local businesses to discuss catering.
 
Objective: Adapt to changing operating environment.
 
  1. KRs:
    1. Make online orders 30% of total sales.
    2. 0 days shut down for sanitization due to an infection.
    3. Average cleanliness audit/self-assessment compliance exceeds 85%.
    4. Maintain 12 months of financial runway.
  2. Initiatives:
    1. Install plexiglass around all cash registers.
    2. Check staff wellness at the start of each shift.
    3. Perform daily cleanliness self-assessments in FranConnect.
    4. Secure a $100,000 bank loan.
 
Objective: Increase franchisee profitability.
 
  1. KRs:
    1. Make the seasonal beverage category 20% of total sales (or another strategic, high margin category).
    2. Keeps COGS (cost of goods sold) under 33% of sales.
    3. Keep labor costs under 33% of sales.
    4. Obtain an average online rating above 4 stars on Google.
  2. Initiatives:
    1. Reduce evening staff by two people.
    2. Engage in a Facebook campaign about seasonal beverages.
    3. Perform weekly theoretical versus actual food cost reviews.
    4. 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)

 

About the author

FranConnect

FranConnect is the leading franchise management software provider. Based on an analytics approach, only its award-winning, unified FranConnect platform engages stakeholders to grow, scale and optimize franchise systems through a connected and complete view of the business from sales to multi-unit and multi-brand performance. Over 800 brands — including 40 of the Entrepreneur’s Top 100 Global Franchises — in 18 countries count on FranConnect to successfully grow their franchise systems. FranConnect customers span all sizes, growth phases, and industries and have grown 44% faster than the broader franchising market. Backed by private-equity investor Serent Capital, FranConnect is headquartered in Herndon, Virginia, with global follow-the-sun operations.

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