Remove Cash Management Remove Email Marketing Remove Point of Sale
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

Owning a Bar: Everything You Need to Know

7 Shifts

You'll have late nights and have to work on weekends and public holidays The market is saturated with loads of competition. An alternative is to buy an existing bar that is up for sale. This document will outline your bar's concept, menu, marketing strategy, and financial projections. How Do I Run a Profitable Bar?

Bar 370
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

WHAT RESTAURANT OWNERS GET WRONG

Culinary Cues

In all cases they begin with the same goals: prepare and serve great products that are consistent and offered with a smile, build success on a steady flow of sales and controlled profitability, and do all of this with pride. I have the privilege of working with many different restaurants and food businesses. So why does it sometimes go wrong?

article thumbnail

Expanding Your Business? Seven Tips to Improve Cash Flow to Fund a New Location

Modern Restaurant Management

Different restaurant models achieve a break-even or profitability point at varying times. It is important to consider if the first location has the cash flow to help financially carry the second location for a period of time if needed. Use creativity to market a restaurant on a limited budget.

article thumbnail

7 key restaurant revenue streams to prioritize in 2024

7 Shifts

One of the best things to do is to find additional revenue streams to supplement your core food and beverage sales. Choosing this option is beneficial if your restaurant is in a competitive market where people use these apps frequently. In fact, only 27% of restaurant owners expect to be more profitable this year.

2024 243
article thumbnail

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. It doesn’t matter how fine-tuned your menu is or how much marketing buzz you have if you’re spending more money than you’re earning. What is Cash Flow? This is called positive cash flow.

article thumbnail

The Complete Guide to Creating a Winning Restaurant Newsletter (+Real Examples)

7 Shifts

A great email newsletter. When done right, email marketing works wonders—you stay top of mind and increase order values. of customers make a monthly purchase based on marketing emails. But what makes email newsletters such an effective marketing strategy for restaurants? Emails are easy to track.