7 Shifts

JUNE 4, 2021

Inventory turnover ratio. Your CoGSs is an essential number to have when determining your menu prices, inventory and impacts your net profit margin. To calculate your COGs, you need the following numbers: Beginning Inventory, or the value of the inventory you start with. Ending inventory , or what you have leftover.

Point of Sale 416

Point of Sale Inventory Employee Relations Customer Service 416

Sculpture Hospitality

APRIL 19, 2022

Taking restaurant inventory gives you better oversight over your food and beverage stock levels, helps forecast future demand and reduces food and beverage waste. In essence, well managed inventory makes your business more profitable.

Inventory 131

Inventory Beverage Waste Management 131

Goliath Consulting

JANUARY 11, 2021

And in the business side of beverages, no topic is more trendy right now than “functional beverages.” They’re beverages that serve a “function,” or basically, products that claim to benefit health, wellness or performance (1). Are you looking to maximize sales and efficiency in your beverage program?

Beverage 139

Beverage 2021 Consumer Goods Sports 139

Sculpture Hospitality

JULY 12, 2022

Bar inventory is managing, counting and tracking liquor stock at your bar or restaurant. Taking inventory counts, and ongoing inventory management, can help you gain insight into the sales trends of different beverages so you can ensure that you always have enough stock on hand.

Inventory 131

Inventory Bar Beverage Management 131

7 Shifts

APRIL 29, 2021

Any establishment that serves food or beverages to guests is eligible. Food and beverage inventory. Note for businesses who opened in 2020: the Applicant's original business model should have contemplated at least 33.00% of gross receipts in onsite sales to the public.). Who is eligible to receive grants? Bars and lounges.

Restaurant Law 370

Restaurant Law Document Brewery Point of Sale 370

Embrace the Suck

APRIL 26, 2020

Cost of goods (COGS) sold refers to the cost required to create each of the food and beverage items you sell to guests. COGS = Beginning inventory + purchased inventory - final inventory. Prime Cost.

Cash Management 439

Cash Management Point of Sale Inventory Bar 439

7 Shifts

JULY 20, 2024

Components of a restaurant’s financial report The food and beverage sales report, prime costs report, inventory report, profit and loss (P&L) statement, and cash flow statement are all critical components of a restaurant's financial management. Let's say your restaurant goes through 50 pounds of chicken per week.

2024 221

2024 Cash Management Inventory Waste 221

Sculpture Hospitality

AUGUST 31, 2020

They ensure you don’t overspend, that food and beverage inventory is managed properly and they come up with ideas that bring in new revenue streams. The manager of your restaurant or bar plays an essential role in the success of your business.

Inventory 144

Inventory Bar Management Management 144

Restaurant365

JANUARY 4, 2022

Restaurant inventory management plays a key role in overcoming rising food prices. As the rising food cost trend continues, it’s time to tighten your inventory control. Automate manual restaurant inventory processes to help overcome rising food prices. Integrate restaurant inventory management with your POS system.

Inventory 148

Inventory Pricing Management Management 148

Culinary Cues

DECEMBER 17, 2020

There are short-term band aid solutions such as takeout, delivery, or even conversion into retail markets where wine inventories and local necessities take over space once occupied by diners, but they are not a replacement for a steady turn of tables. Even the best operators are at a loss for solutions.

Uniforms 470

Uniforms Cash Management Brewery Consumer Goods 470

Sculpture Hospitality

SEPTEMBER 12, 2023

Running a successful bar requires careful management of inventory. Keeping track of all the beverages, mixers, garnishes, and other supplies can be a challenging task. That's where a well-organized bar inventory template can come to your rescue.

Inventory 130

Inventory Bar Supplies Beverage 130

Restaurant365

JANUARY 28, 2020

Inventory forecasting is calculating the precise amount of future inventory and production needs for your restaurant, and it also takes into account historical consumption patterns and the shelf life of finished goods. How to forecast your restaurant inventory. Inventory Projections. Profit expectations.

Inventory 145

Inventory Seasonal Menu Employee Relations Customer Experience 145

Sculpture Hospitality

JANUARY 31, 2022

The amount of wine a restaurant or bar has on hand in their beverage inventory varies from one location to the next.

Inventory 117

Inventory Bar Management Management 117

7 Shifts

FEBRUARY 8, 2024

Payroll can be a huge chore in this industry due to its time-sucking nature, and other accounting needs like inventory and budget management aren't exactly easy (or exciting). BevSpot BevSpot is a food and beverage management software that handles inventory management, ordering, invoicing, and sales data. Apple | Android 9.

Management 367

Management Management Operations Mobile Ordering 367

7 Shifts

JULY 5, 2024

With 50% of restaurant owners reporting inventory costs as the top concern last year, you must leverage reporting tools to see how much profit your restaurant is making and where your money is going. Running a restaurant is not just about serving great food; it’s also about managing finances.

Cash Management 243

Cash Management Inventory Seasonal Menu Beverage 243

7 Shifts

AUGUST 18, 2024

For example, though food costs are running costs, you should budget for beginning inventory when opening your restaurant Many of your startup costs will be one-off costs, though some are subject to annual renewals Restaurant Expenses Vs. Restaurant Costs One often confused (and misused) sets of terms are restaurant costs and restaurant expenses.

License 370

License Equipment POS Food Supply 370

7 Shifts

FEBRUARY 8, 2024

Payroll can be a huge chore in this industry due to its time-sucking nature, and other accounting needs like inventory and budget management aren't exactly easy (or exciting). BevSpot BevSpot is a food and beverage management software that handles inventory management, ordering, invoicing, and sales data. Apple | Android 9.

Management 352

Management Management Operations Mobile Ordering 352

Sculpture Hospitality

JANUARY 18, 2021

Successful beverage inventory management results in a huge number of benefits for your bar. It helps your business to reduce drink shortages, limit waste, optimize reordering, avoid order mistakes, increase profits and much more.

Inventory 136

Inventory Bar Waste Beverage 136

Sculpture Hospitality

AUGUST 23, 2022

Restaurant inventory management is the process of monitoring your food and beverage stock to gain better control and visibility over your inventory.

Inventory 118

Inventory Management Management Beverage 118

Sculpture Hospitality

MAY 16, 2022

As with any product in your bar or kitchen, different types of alcoholic beverages in your bar inventory have different shelf lives.

Beverage 109

Beverage Inventory Bar 109

Restaurant365

OCTOBER 16, 2019

When most restaurant owners think about how to manage restaurant inventory, they think of food cost control. For restaurant owners, inventory control is closely related to accounting and food cost management. The nuts and bolts of restaurant inventory management. Inventory tracking also includes product transfers between stores.

Inventory 113

Inventory Management Management POS 113

7 Shifts

SEPTEMBER 6, 2024

The cost of goods sold (COGS) is a restaurant metric that shows you the cost of all ingredients used to prepare a menu item, including the food, beverage costs, and other direct expenses. COGS is based on your inventory, meaning it includes the value of what you start with, what you purchase, and what’s left at the end of the period.

2024 195

2024 Seasonal Menu Inventory Audits 195

Sculpture Hospitality

SEPTEMBER 22, 2022

One of the most important steps for improving your restaurant’s profits is implementing an inventory management program. The problem is, managing food and beverage inventory at your restaurant can be time consuming, stressful, complex and can be rife with errors - especially when you use manual inventory tracking methods.

Inventory 107

Inventory Beverage Management Management 107

Culinary Cues

AUGUST 9, 2021

Make it fun! [] FOR THE SOMMELIER AND BARTENDER: Food and beverage pairing is a fast road to customer satisfaction and a great way to maximize profit potential for the restaurant. Show them about budgets, and marketing, human resource management and inventory control, menu planning and recipe costing, and how to build their personal brand.

Front of House 473

Front of House Customer Experience Dine-in Training 473

Modern Restaurant Management

DECEMBER 8, 2022

Manage and Optimize Your Increased Holiday Inventory. The holidays bring an increase in beverage inventory, particularly kegged inventory for bars and restaurants centered around draft programs. Take a good look at your cooler now; clean out what doesn’t belong and prepare for the increase of kegs you anticipate.

Bar 188

Bar Customer Experience Brewery Inventory 188

7 Shifts

OCTOBER 21, 2021

Pros: Very low labor and inventory costs and steady incremental sales growth. Pros: High markup of alcoholic beverages—up to 400%. Less food inventory. And remember: Regardless of your concept, you'll always have to manage labor and inventory which can be challenging. It's a proven concept with a lot of success.

Fast Casual 370

Fast Casual Food Truck Casual Customer Service 370

Culinary Cues

MARCH 26, 2022

Well, you have all heard the statistics about success and failure when food and beverage are involved, so I won’t repeat them. All of the tools are available for inventory control, purchasing systems, cash handling, costing templates, and quality assessment. How hard can it be – right? Use them! [] NOT ESTABLISHING STANDARDS.

Cash Management 366

Cash Management Social Media Restaurant Law Communication 366

Modern Restaurant Management

DECEMBER 22, 2021

Product & Inventory Tracking. There also are monitoring systems that can track your inventory. That means you can see if everything from dispensed condiments to poured beverages aren't being wasted, helping your establishment save money and maintain efficiency. Automatically switching modes (i.e.

2022 244

2022 Equipment Email Marketing Customer Service 244

Sculpture Hospitality

APRIL 19, 2022

Taking restaurant inventory gives you better oversight over your food and beverage stock levels, helps forecast future demand and reduces food and beverage waste. In essence, well managed inventory makes your business more profitable.

Inventory 87

Inventory Beverage Waste Management 87

Modern Restaurant Management

JANUARY 18, 2022

How to Use Key Metrics for Proper Inventory. Historical sales levels can indicate what food, beverages, and supplies you need to buy for the next comparable sales period. Mastering how to forecast your inventory is just the first step, you almost must control it. Check your inventory against data collected by the POS.

Inventory 212

Inventory Food Order Food Supply POS 212

Sculpture Hospitality

JANUARY 21, 2021

Did you know that one of the most common hidden expenses for restaurateurs is down to poor food and beverage inventory management processes? Yet, despite this, many restaurants are still struggling to implement successful inventory management processes.

Inventory 110

Inventory Beverage Management Management 110

Restaurant365

APRIL 14, 2020

Successful restaurant operations, in any kind of economy, depend on well-managed restaurant food inventory. Much of the typical food and beverage inventory in restaurants tends to have a relatively short shelf life, making accurate inventory numbers essential to run a functioning kitchen, make economical orders, and adapt to long-term trends.

Inventory 109

Inventory Delivery Management Management 109

Sculpture Hospitality

JULY 21, 2020

Regions across the world are in different phases of reopening their economy. Unfortunately, some locations are already shutting back down due to a new wave of COVID-19 cases. Now more than ever, the hospitality industry needs to band together to protect its customers, staff and margins. So what does that even mean?

Beverage 114

Beverage Inventory Food Bar 114

Modern Restaurant Management

JANUARY 15, 2024

Operators need to invest in a back-of-house technology system that simplifies daily tasks for them, such as inventory and scheduling. Make sure to not only evaluate the PMIX of food and beverage but also any supplies needed to support the increased off-premise sales such as catering, to-go supplies, etc.

Food Supply 208

Food Supply Point of Sale Back of House Inventory 208

Modern Restaurant Management

SEPTEMBER 27, 2023

Money and Inventory Management The profitability of a restaurant depends on the careful management of cash flow. Inventory management is another key issue that can creep up if owners are not aware of what product they have and how much is currently available.

Cash Management 207

Cash Management Restaurant Law Food Safety Point of Sale 207

Modern Restaurant Management

NOVEMBER 11, 2021

The goal for every food and beverage company is to synchronize supply and demand. In order to reduce cost, waste, and optimize inventory, the process begins with planning and forecasting. Operators need to monitor revenue, cost, and inventory daily so they can remain agile and iterate on new concepts. Planning and Forecasting.

Supplies 218

Supplies Management Management Food Supply 218

Modern Restaurant Management

AUGUST 10, 2021

The food and beverage industry is on a hiring frenzy. A recent study by The Bureau of Labor Statistics revealed that, despite regular hiring since this spring, the food and beverage industry still remains 1.5 It is worth noting that, even before the onset of Covid-19, the food and beverage industry was experiencing a shortage in labor.

Ordering 237

Ordering Recruiting Food Order Employee Relations 237