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Restaurant Cash Flow Management 101: Building Good Financial Habits

ChowNow

Whether you’re a roadside fruit stand or a Michelin star restaurant, cash flow management is crucial. And there’s more to restaurant cash management than simply bringing in more money to cover expenses. What is Cash Flow? Cash flow is the net amount of money moving in and out of your restaurant.

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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 capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits.

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Protect Your Restaurants from Invoice Fraud through Technology

Modern Restaurant Management

Currently, the average US business is losing $300,000 to payments fraud each year according to the latest Financial Census , a study which surveyed 2,750 senior finance executives across the globe – 15 percent of whom work in the retail, catering and leisure industry.

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Three Steps to Improving Customer Loyalty During the Pandemic 

Modern Restaurant Management

A loyalty program should cater to the customer’s convenience and peace of mind — so keep safety and security at the forefront. A quick and simple approach can increase new member sign-ups and encourage returning customers to cash in on earned benefits. First, consider adopting a touchless loyalty system.

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How to Manage Cash Flow During Restaurant Restrictions

Restaurant365

Tracking and understanding your restaurant’s cash flow is essential, whether business is booming, or times are tough. A healthy, positive cash flow is necessary to pay your bills and grow sales. Monitoring your cash flow is more important than ever during the COVID-19 outbreak. How to calculate restaurant cash flow.

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Growing a Restaurant Strategically – The Keys Are Alignment, Timing and Control

Modern Restaurant Management

Research New Offerings Rigorously Before Adding The question of whether, when and how aggressively to add new menu items, expand hours/days, launch catering options or open another location has substantial implications for restaurateurs. Expand thoughtfully at a manageable pace that allows teams and culture to season properly.

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Ghost Kitchens to Open Up New Avenues for Restaurateurs

Modern Restaurant Management

The reasons for the accelerated growth of this idea, the contribution of POS to these kitchens, the display systems to make the operations easier, and the automated operations used in the inventory as well in the kitchen for easy food management- are some of the ideas that will be discussed in the following paragraphs.