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The Ultimate Guide to Restaurant Costs

7 Shifts

But the challenges don’t stop there—once open you have to focus on improving processes, managing labor schedules, and controlling restaurant costs. Not only do you have to manage many costs including, labor, equipment, and food—but you have to do it while dealing with inevitable price increases. Let’s get started.

License 370
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Owning a Bar: Everything You Need to Know

7 Shifts

Equipment : What equipment will you need? Specialty bars focus on a particular type of drink or theme, such as wine bars or cigar bars, but can be much more expensive to manage. Sourcing the Right Equipment Your budget, target market, and concept will dictate your equipment needs.

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The Complete Checklist For Selling Your Restaurant In 2024: Pre-Sale, Sale & Post-Sale

7 Shifts

The goal is to determine the total amount of cash flow that will be available to the new owner after accounting for these types of expenses. Asset-Based Valuation In some cases, the value of your restaurant’s assets, like equipment, furniture, and leasehold improvements, might be the best way to determine its value.

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How much does it cost to open a restaurant?

7 Shifts

You won’t have cash coming in until you open your doors, so you’ll have to depend on your life savings, investments, and loans to get you through your first few weeks or months of business. If your space is worth $1 million, for example, you’ll need $100,000 in cash to lock in the space. How does this break down, roughly?

License 354
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How to Buy a Restaurant: An Ultimate Guide

7 Shifts

You have the advantage of a built-out kitchen with equipment, bars and dining rooms, technology, parking lots, and more. Tack on obtaining permits and licenses, and you could be in for a pretty big check. They could also be trying to get out of a bad situation—be it management, building, or market related.

License 444
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Beginner’s Guide to Accounts Payable for Restaurants

ChowNow

Managing accounts payable (AP) for restaurants efficiently is vital to running a successful restaurant. From keeping up with invoices to negotiating better payment terms with suppliers, these steps can ensure smoother operations, improved cash flow, and stronger relationships with your vendors. Automation can be a game changer here.

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How to Buy a Restaurant: An Ultimate Guide

7 Shifts

You have the advantage of a built-out kitchen with equipment, bars and dining rooms, technology, parking lots, and more. Tack on obtaining permits and licenses, and you could be in for a pretty big check. They could also be trying to get out of a bad situation—be it management, building, or market related.

License 195