Remove Back of House Remove Cash Management Remove Fast Casual
article thumbnail

Restaurant Accounting: A Comprehensive Guide

7 Shifts

By tracking metrics like customer retention and employee turnover rate, contribution margin, and menu item profitability, restaurant managers can identify each area’s strengths and what areas need improvement. It involves tracking massive amounts of real data and industry benchmarks. Sounds complicated?

article thumbnail

How to Write a Restaurant Business Plan [with Sample]

7 Shifts

A good operator looks back on their Business Plan on a monthly or quarterly basis to gauge where they are in terms,” says Mark Moeller, president, and owner of The Recipe of Success , a national restaurant consulting firm. You can't start a restaurant without a plan. But it doesn't have to be overwhelming. Table of Contents. Download now.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

2024 Outlook: Restaurant Trends and Challenges, Part Three

Modern Restaurant Management

Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. This trend reflects the growing popularity of drive-thru and fast-casual dining, coupled with the demand for digital technologies such as QSR digital signage and QR codes.

2024 215
article thumbnail

10 Top Restaurant Technologies To Evolve Your Business

7 Shifts

After that, the most popular back-office technologies were accounting software (52%, up from 31% in 2018) and payroll software (50%, up from 28% in 2018), according to a study from Toast. Your POS system reduces ordering errors, increases front-of-house and back-of-house efficiency, and helps you control inventory.

article thumbnail

How Restaurants Can Remain Competitive in 2021

7 Shifts

2020 was a year that the restaurant industry won’t soon forget. From a projected record growth at the top of the year to a decline of nearly $240 billion in sales and 2.5 million out of work, it was nothing short of devastating. Through it all, we emerge from the year as an industry in evolution—and our restaurants need to evolve with it.

2021 370
article thumbnail

How To Become A Restaurant Manager in 2024: A Comprehensive Guide

7 Shifts

Restaurant management is one of the best pathways for servers and hosts looking to make the next step in their hospitality careers. If you see yourself managing a team and overseeing operations, the path of a restaurant manager may be fulfilling. What do restaurant managers do? As of 2024, they make around $26.42

2024 195
article thumbnail

Reinventing a Safer, Personalized Restaurant Experience through Facial Recognition

Modern Restaurant Management

The dining experience of yesterday, however, with packed houses and quickly rotating tables is looking like less and less of a possibility moving forward. Cash and credit card holding diners are often stalled in the check-out process, awaiting change or running through the multi-step credit card machine requests for pins and confirmations.