ChowNow

AUGUST 19, 2024

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.

Cash Management 78

Cash Management Management Management Inventory 78

7 Shifts

APRIL 23, 2021

The past year has turned servers into expert delivery packers, challenge chefs' creativity, and flipped the role of a restaurant manager on its head. When they put up a job ad, they don't think about it that way,” says Jack Hott, Senior Product Manager at Poached, a job board built for the restaurant industry.

Hiring 370

Hiring Front of House Back of House Food Safety 370

7 Shifts

JULY 13, 2023

Restaurant transactions have been moving away from cash and towards electronic forms of payment for years—and that's extending to tips now too. Americans who leave their tips digitally tip nearly 15% more than when they tip with cash. However, more digital tips means less cash passing through the restaurant on a daily basis.

Cash Management 195

Cash Management Back of House Training Management 195

Modern Restaurant Management

FEBRUARY 22, 2022

Ahead of Employee Appreciation Day (March 4), Society Insurance put together a list of employee recognition ideas. 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.

Cash Management 208

Cash Management Merchandise Front of House Coupons 208

7 Shifts

AUGUST 23, 2023

I'm excited to introduce Tip Payouts , an easy-to-use tip payment solution that empowers restaurant managers to send tips directly to employees' bank accounts in seconds. Our tip management journey started back in September 2021 with the release of our Tip Pooling feature, which covered the calculation portion of the process.

Tip Distribution 195

Tip Distribution Cash Management Restaurant Law Insurance 195

Modern Restaurant Management

OCTOBER 19, 2023

But it’s not just newbies to franchising – or restaurant franchises themselves, for that matter – that need to stay on top of the management intricacies that characterize the business. What may be overlooked within it are risk and insurance issues. Risk and insurance should be top on the list.

Insurance 100

Insurance Franchise Franchising Document 100

Hospitality Insurance Group

JANUARY 6, 2021

New Liquor Liability Financing Will Help Seasonal Businesses with Cash Flow. Hospitality Insurance Group is launching a new program that will give bars, restaurants, and any other eligible liquor liability policyholders more flexibility in how they pay their insurance premiums.

Insurance 114

Insurance Hospitality Cash Management Bar 114

Modern Restaurant Management

DECEMBER 21, 2023

Let us pass on the knowledge and expertise that we have gained in our 100+ years in the insurance business, so you can take a few things off your plate – and gain peace of mind. Manage Access to Keys : Only distribute exterior-door keys to employees who must have access. Invest in a drop safe.

2024 189

2024 Kitchen Safety Cash Management Insurance 189

7 Shifts

APRIL 30, 2021

Food, alcohol, and cash are common victims of theft—but business owners have to look beyond physical goods. By understanding the ways it can occur, business owners or managers have a much higher chance of identifying it before it racks up a hefty bill. Give your managers top-level visibility. How to spot it: Types of time theft.

Restaurant Law 370

Restaurant Law White Paper Cash Management Small Business 370

7 Shifts

NOVEMBER 18, 2022

More tip management resources. tip credit, meaning the minimum cash wage for overtime hours increases at a higher percentage than regular wages. leaves a minimum cash wage of $5.76 ($10.88 - $5.12). Therefore, the minimum cash wage for overtime increases by $3.63, and the restaurant must provide $57.60 ($5.76

Cash Management 195

Cash Management Restaurant Law Back of House Customer Service 195

7 Shifts

AUGUST 18, 2024

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. Hiring a Strong Team You'll need a manager, bartenders, waiters, and security. Your profits will depend on how well you run your bar and manage your operating costs.

Bar 370

Bar License Email Marketing Customer Service 370

Modern Restaurant Management

DECEMBER 10, 2019

According to a study, 82 percent of small businesses fail due to cash flow problems. A cash flow shortage occurs when more money is flowing out of the business than is flowing into it. During a cash flow shortage, you might not have enough capital to cover your payroll or other operating expenses.

Cash Management 124

Cash Management Seasonal Menu Social Media Small Business 124

7 Shifts

MAY 18, 2023

Employees are typically subject to more oversight and are entitled to benefits like minimum wage, overtime pay, and workers' compensation insurance. On the other hand, independent contractors have more freedom and control over their work but are responsible for their own taxes and insurance.

Restaurant Law 195

Restaurant Law Insurance Audits Cash Management 195

Modern Restaurant Management

APRIL 27, 2020

Consider the following in your risk management and business continuity programs: Use of Food Delivery Services vs. Company Employees – By using a hired food delivery service, a restaurant can reduce the chance of employees having an accident by using their cars or the owner’s vehicles.

Delivery 153

Delivery Hiring Transportation Food Safety 153

Modern Restaurant Management

APRIL 3, 2020

Business interruption insurance is an extremely important type of coverage in an insurance policy which is intended to cover for lost income sustained as a result of a covered peril in order to allow for the continuity of your business into the future. COVID-19 has thrown our way of living into treacherous and unchartered waters.

Government 153

Government Insurance Cash Management Hotels 153

7 Shifts

MAY 15, 2023

Restaurant payroll is a system for calculating and managing the salaries of employees in a restaurant. Employers need to track hours, calculate wages, manage shift schedules , and maintain employee records. This schedule can be difficult to run manually for managers with more than a handful of employees.

2023 195

2023 Tip Distribution Audits Restaurant Law 195

Modern Restaurant Management

JULY 27, 2023

Workers who lack access to basic financial services are subjected to paying expensive fees for things like cashing a check. According to a 2021 estimate by the Federal Deposit Insurance Corporation (FDIC), there are 4.5

Cash Management 162

Cash Management Insurance Customer Service Government 162

EATER

NOVEMBER 11, 2020

We do pay cash to some vendors at the farmers markets, but that’s about it. I didn’t want to let go of my entire team, because if you do that, then when you have to reopen the restaurant, that will cost you a lot too, because a management team, especially one that you build, [has] really valuable corporate memory. That’s 45 people.

Cash Management 145

Cash Management Insurance Point of Sale Back of House 145

Modern Restaurant Management

AUGUST 10, 2021

Please send questions to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. When it comes to managing medical plan costs for restaurant employers, aggressive management of prescription drug expenditures can yield significant savings. Carve In or Carve Out.

Management 180

Management Management Cash Management Healthcare 180

Restaurant365

SEPTEMBER 23, 2021

Whether you’re a bookkeeper, accountant, restaurant owner, or store-level manager, understanding the basics of accounting can pay dividends for your business. Healthy accounting procedures for restaurants can help you manage food and labor costs, understand your profits and losses, and make strategic decisions about expenses and investments.

Cash Management 147

Cash Management Point of Sale POS Inventory 147

7 Shifts

SEPTEMBER 16, 2024

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. Profitability Showing consistent profits and positive cash flow can increase the perceived value of your restaurant.

2024 195

2024 Document Point of Sale Cash Management 195

Modern Restaurant Management

MARCH 31, 2020

A few months back, several Tim Hortons locations were forced to shut down after a computer virus infected cash registers at more than 1000 stores. In order to understand why cybersecurity is important for restaurants, you only need to scan the recent headlines.

Website Management 203

Website Management Retail Small Business Online Ordering 203

Society Insurance

NOVEMBER 15, 2022

To expedite the process of wrapping up for the night, restaurant and bar owners can turn to a closing checklist that outlines tasks to be completed by front-of-house staff, back-of-house staff, and management. Taking inventory and reporting low-stock items to the chef or manager. Properly securing all cash in a drop safe.

Front of House 97

Front of House Food Safety Cash Management Back of House 97

7 Shifts

SEPTEMBER 19, 2022

What about managers? Track and manage employee workload. What about managers? Managers fared a bit better than hourly employees—with a turnover rate of 28%. Among the over 25 sets, manager recognition (or lack thereof) was one of the top three reasons they left restaurant jobs. Back-of-House and Front-of-House.

Front of House 195

Front of House Back of House Cash Management Customer Experience 195

Modern Restaurant Management

FEBRUARY 3, 2022

You’ll need to check for the specifics in your rental contract, but it’s usually the landlord’s responsibility to make sure that all insurances are in place when letting out premises to a business. Easier Money Management. Cash flow management is one of the biggest challenges when running a restaurant.

Restaurant Law 203

Restaurant Law Cash Management Insurance Seating 203

Modern Restaurant Management

JANUARY 31, 2020

Some examples could include: healthcare organizations, organizations with political or ideological agendas, news media organizations and businesses that deal with significant quantities of cash. Managing foreseeable risk = covering the basics. Managing foreseeable risk = covering the basics.

Management 152

Management Management Cash Management Events 152

Restaurant365

NOVEMBER 18, 2021

Your restaurant orders, receives, and counts food all in one system: your inventory management software. Your inventory management solution measures and stores all the information you need about your food cost. After all, restaurants have historically offered same-day take home pay in the form of cash tips for front-of-house workers.

Employee Relations 148

Employee Relations Cash Management Point of Sale Front of House 148

Ken Burgin

JANUARY 16, 2022

Many chefs, managers and business owners have built up years of experience running kitchens and restaurants. How do you respond when someone says they’re ‘sick of being a chef or manager and I want to be a consultant’? Managing cash flow once you work. Managing cash flow once you work.

Cash Management 113

Cash Management Website Management Social Media Insurance 113

EATER

MAY 3, 2021

Last summer, she quit her job at a New American restaurant in Chicago where she had worked as a manager and sommelier since 2017. He said I abandoned him and that he couldn’t trust me [or] see me as a manager anymore.”. When she came back, she noticed a shift in the way her employers treated her. “I Health care is a big part of this.

Back of House 145

Back of House Cash Management Kitchen Safety Insurance 145

Modern Restaurant Management

JUNE 7, 2021

Please send questions to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. Cash has been king in attracting restaurant crews, but is it possible to use benefits as a differentiator? Circumstances change rapidly in the restaurant sector.

Employee Relations 122

Employee Relations Insurance Cash Management 2021 122

EATER

JULY 14, 2022

Inside the sealed cans are wads of Saran-wrapped cash that amount to over 300,000 dollars, a ragtag failsafe system that was set up by Mikey — owner Carmy’s dead brother — to insure that the restaurant would stay afloat financially once Carmy took over. Imagine if they opened all those cans and found not just cash, but mold.

White Paper 122

White Paper Cash Management Back of House Insurance 122

Modern Restaurant Management

JANUARY 16, 2024

Rember that while operations may be covered by your bench, any would-be replacement may also need coaching or specific training to get them ready for all the management aspects of their role. Financial Preparedness Take a hard look at your financial picture and cash position if you were out of the picture tomorrow.

2030 180

2030 Franchise Franchising Employee Relations 180

Modern Restaurant Management

MARCH 11, 2020

US Foods Holding Corp.entered into a definitive agreement to acquire Smart Foodservice Warehouse Stores from funds managed by affiliates of Apollo Global Management, Inc. NYSE: APO) (the “Apollo Funds”) for $970 million in cash.

Bar 154

Bar Cash Management Loyalty Program Point of Sale 154

Restaurant365

AUGUST 25, 2020

Comprehending your restaurant cash flow is essential to running your restaurant business. Cash flow refers to the amount of cash coming into your restaurant minus the amount of cash going out on a daily, weekly or monthly basis. Common factors that cause cash flow issues. Too much inventory. Unexpected expenses.

Cash Management 97

Cash Management Seasonal Menu Inventory Email Marketing 97

Restaurant365

JUNE 2, 2020

You can’t run a restaurant without employees, which means that processing payroll is an essential task for restaurant owners, operators, and managers. When you have restaurants in multiple states and cities, the difficulties of managing your payroll are multiplied. What percentage of sales should payroll be? The first is a 12.4%

Tip Distribution 109

Tip Distribution Restaurant Law Front of House Cash Management 109

The Restaurant Group

MARCH 11, 2024

Managing a restaurant involves so many moving parts, including sourcing high-quality ingredients, purchasing a seemingly endless list of supplies, managing staffing and scheduling, and budgeting for a profitable restaurant – all within a set budget. One example is our restaurant remote management service.

Management 78

Management Management Cash Management Insurance 78

Modern Restaurant Management

AUGUST 10, 2020

Some taxes are the sole responsibility of the restaurant-employer such as Federal Unemployment Tax Act (FUTA), most State Unemployment Tax Act (SUTA), and a portion of Federal Insurance Contributions Act (FICA) taxes. This is especially true when times are tough and managers are looking for ways to pay bills.

Audits 180

Audits Government Point of Sale Cash Management 180