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7 key restaurant revenue streams to prioritize in 2024

7 Shifts

Offering additional services, like delivery and takeout, meal kits and subscription boxes, and even catering and hosting special events can unlock new growth opportunities. You can then accept cash payments upon delivery, which is helpful for local restaurants with limited budgets. Constantino, our resident food journalist, writes.

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Top Tips to Show Appreciation for Your Employees This Year

Modern Restaurant Management

These platforms utilize point systems and integrations with communications platforms to make it easy for managers and fellow employees to give out kudos. There are two types of bonuses: cash or non-cash. A cash bonus is simply a sum of cash awarded to an employee for superior performance. Merchandise and Prizes.

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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.

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Revenue streams restaurants can add to their business

Clover - Restaurants

Lastly, by offering additional services like catering or selling merchandise, restaurants can more efficiently use their existing kitchen space, staff, and inventory, maximizing their resources throughout the day or week. As an additional revenue stream for your restaurant, it’s more realistic to offer catering for one-off or special events.

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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.

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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.

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Coffee News Recap, 27 Jan: Proud Mary Coffee to sell Panamanian Gesha for US $150 per cup, PRF El Salvador to host 2023 Salvadoran Barista Championship & other stories

Perfect Daily Grind

The next event will be Cup of Excellence Indonesia, which will take place on 16 February. The keynote speech delivered by Michael Opitz, Managing Director of Hanns R. The multi-year partnership will see the veteran-owned coffee roaster serve its products at NHRA events nationwide. EL&N also operates six locations in Riyadh.

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