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Let us pass on the knowledge and expertise that we have gained in our 100+ years in the insurance business, so you can take a few things off your plate – and gain peace of mind. Manage Access to Keys : Only distribute exterior-door keys to employees who must have access. This article is not a template.
In this article, we'll look at why cybersecurity is important in the restaurant business, and how you can protect yourself from cyber attack. A few months back, several Tim Hortons locations were forced to shut down after a computer virus infected cash registers at more than 1000 stores.
Please send questions to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. When it comes to managing medical plan costs for restaurant employers, aggressive management of prescription drug expenditures can yield significant savings. Carve In or Carve Out.
In this article, we look at the pros and cons of both renting and buying to help you decide which approach will be best for your unique venture. Easier Money Management. Cash flow management is one of the biggest challenges when running a restaurant. Buying Your Restaurant Premises. Lower Risk.
In this article, you'll learn how to get a business loan for your restaurant so you can make your dream of starting or growing your restaurant a reality. Management Team : document your team and why they have the experience and expertise to make your restaurant a success. Table of Contents. Create a Restaurant Business Plan.
Food, alcohol, and cash are common victims of theft—but business owners have to look beyond physical goods. By understanding the ways it can occur, business owners or managers have a much higher chance of identifying it before it racks up a hefty bill. Give your managers top-level visibility. How to spot it: Types of time theft.
To add resources to these guides, reach out to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com with news. " Fitsmallbusiness.com launched a series of articles detailing what the restaurant industry can do to stay ahead of the curve as the U.S.
and will enable TouchBistro to fully integrate customer loyalty and guest marketing into its all-in-one point-of-sale (POS) and restaurant management platform. This year’s Neighborhood to Nation Contest will double the number of winners to award 20 prizes of $5,000 in cash along with a robust marketing package.
Specialty bars focus on a particular type of drink or theme, such as wine bars or cigar bars, but can be much more expensive to manage. Hiring a Strong Team You'll need a manager, bartenders, waiters, and security. We'll cover all of this later in this article. How Much You Can Expect to Earn?
By conducting a break-even analysis, you can make informed decisions about pricing, cost management , and overall strategy. Examples include rent, salaries, insurance, and equipment leases. In this post, we’ll walk through the process step by step, with examples to make it tangible and actionable. What Is a Break-even Analysis?
Offering a range of cashless payment options can help meet the needs of the increasing number of people choosing not to carry cash with them. Perhaps provide your catering services for charitable events or give staff and management paid time off to volunteer for activities. This doesn’t just mean accepting debit or credit cards.
In this article, we discuss how to get started with restaurant bookkeeping and the terms and practices that make it work. For more information on prime cost and how it can benefit your restaurant, check out this article from the Sling blog: Prime Cost: Why It Matters For Your Restaurant And How To Calculate It.
Also, understand all the costs associated with opening a bar such as insurance, licenses, staffing costs , etc. On the other hand, you may need to hire a manager and/or assistant manager to help with the day-to-day operations. There may be special licenses or permits you will need in order to open your bar.
This article will provide you with insights into choosing the perfect location when setting up a bakery business in the UAE. However, setting up the business in a posh and expensive location right at the start might affect cash flow and take you longer to reach the break-even point. . Competition.
In this article, we will take a closer look at how to generate a P&L statement and how the results it provides can improve your business performance and drive you to hit profits that beat industry standards. . You get a strong look at the biggest indicators for profit and how those elements are managed.
In this article, we are going to look at some of the most effective restaurant accounting tips: Understand Restaurant Accounting Terminology. A good accountant will help you in managing finances and producing key financial statements. Install a Good Restaurant POS System. They form the minority expenses of running a restaurant.
That’s why we have put together an article that covers all the significant requirements and considerations that you need to keep in mind if you’re thinking about opening a restaurant in the US. You will also need insurance and must maintain certain standards to pass regular health inspections. Arm’s Length Investment.
As you can imagine, payroll is a pretty important part of restaurant management and there is a lot of responsibility attached to proper compliance, including: The timely and accurate payment of employees Avoidance of fees, fines, and legal troubles Proper calculation of taxes Maintaining an accurate record of employee earnings.
The information provided in this article does not, and is not intended to, constitute legal or financial advice; instead, all content is for general informational purposes only. Information in this article is presented “as-is” and may not constitute the most up-to-date information.
Sampson, partner at Leech Tishman in the firm’s Insurance Coverage and Litigation Practice Groups. Avoid unnecessary interactions and touching menus, credit cards, and cash. “Our clients care deeply about the health and safety of their communities and they also need to make a living and be able to pay their employees.”
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