Remove Cash Management Remove Design Remove Merchandise
article thumbnail

Understanding Restaurant Finances & Financial Statements in 2024

7 Shifts

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. Labor costs can quickly eat into your profits if not managed carefully.

2024 221
article thumbnail

Top Tips to Show Appreciation for Your Employees This Year

Modern Restaurant Management

It’s especially important to design and implement an employee recognition reward system for globally distributed teams or remote workers as well. These platforms utilize point systems and integrations with communications platforms to make it easy for managers and fellow employees to give out kudos. Merchandise and Prizes.

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

How to Avoid the Top Seven Restaurant Inventory Management Mistakes

Modern Restaurant Management

Inefficient restaurant inventory management practices, improper storage, gaps in inventory logs, theft, and waste can cause even the most successful kitchens to struggle or fail. Below are the top seven inventory management mistakes restaurants are making, and how to correct them. Always date and label everything.

Inventory 180
article thumbnail

Why Restaurant Merch Is the Most Effective Marketing Tool

Cheetah

As restaurants continue to explore new revenue streams in an ever-changing environment, restaurant merchandise is stealing the limelight as an innovative, fun product that does wonders to your bottom line. It is estimated that over 25 billion dollars will be spent in 2021 on physical promotional merchandise. Reading Time: 4 minutes.

article thumbnail

The Top 5 Restaurant Inventory Management Mistakes and How to Avoid Them

Restaurant365

With food costs running at approximately 30% or higher, learning importance of inventory management and how to prevent common mistakes is critical in successfully driving down costs and maximizing profits. Use a budget system to ensure you are proactively managing your spending. Manage inventory levels. Mistake #2. Mistake #3.

article thumbnail

Planning for Growth and Expansion: A Guide for Restaurant Operators

Squirrel Systems

Cost Management : Monitor costs, including food, labor, and overhead. Look for opportunities to negotiate better terms with suppliers and optimize inventory management. This could include offering catering services, launching a food truck, or selling branded merchandise.

article thumbnail

Restaurant Reopening Checklist: Tips for Thriving

Restaurant365

General managers and restaurant owner/operators should create checklists for crew and managers to use during their shifts. Managing Food Pick Up and Delivery. Establish designated customer pick-up zones to help maintain social distancing. Design a process to ensure guest separation while they are waiting to be seated.