Modern Restaurant Management

MARCH 25, 2020

To add resources to these guides, reach out to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com with news. These restaurants and businesses need a specialized insurance policy. The coverage sits excess of the driver's own insurance.

Online Ordering 289

Online Ordering Insurance Mobile Ordering Website Management 289

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

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

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

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

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. You receive time in your Point of Sale (POS) system. However, tracking your labor cost is a bit more complicated.

Employee Relations 148

Employee Relations Cash Management Point of Sale Front of House 148

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

Restaurant365

FEBRUARY 19, 2020

Non-controllable costs, like the fixed costs of rent, insurance, and salaries, are predictable expenses. Occupancy expenses: fixed costs like rent, property taxes, and insurance. The most important integration is between your restaurant accounting system and your Point of Sale (POS) system.

Point of Sale 120

Point of Sale Cash Management Consumer Goods Inventory 120

Harbor Touch

APRIL 17, 2018

If you purchase equipment, like a restaurant POS system , for example, it may be eligible for depreciation deductions. Seems like a no-brainer but maintaining solid files, both physical and electronic, are critical to managing your restaurant. Expensing Asset Purchases. It can be included in the cost of food or recorded separately.

Employee Relations 97

Employee Relations Insurance Point of Sale Cash Management 97

Lavu

NOVEMBER 8, 2019

As the owner or manager of a restaurant, when you’re aiming to grow profitability, accounting is an area where you need to be comfortable. It might be considered the most dreaded part of running your business, but to be profitable and to manage the money, there’s no way it can be avoided. 5 Concepts of Restaurant Accounting.

Management 101

Management Management Food Truck Cash Management 101

Deliverect

MARCH 24, 2021

The ghost kitchen model is appealing to those who are strapped for cash and want to open a low-risk business with minimal overheads. But you should also consider that investment in kitchen tech, order management equipment, menu optimization , and the right team will massively improve your chances of success in the competitive delivery market.

Food Truck 148

Food Truck Front of House Food Order Fine Dining 148

Cheetah

OCTOBER 3, 2020

Now that indoor dining is once again allowed, waitstaff, cooks and sanitation workers are asked to come back to work with no changes to their compensations, health insurance or paycheck. Health insurance: Look for different health insurance coverages, you may find one that’s more beneficial and cost-effective for your worker.

Inventory 78

Inventory Insurance Cash Management Point of Sale 78

Restaurant365

MARCH 30, 2020

Expanding “off-premise” insurance coverage. Start with the following: Revisit your insurance policy. Your first step will be to call your insurance provider and inquire about on-premise versus off-premise coverage. Depending on your specific situation, expanding your insurance can add up very quickly.

Delivery 78

Delivery Operations Insurance Cash Management 78

Harbor Touch

NOVEMBER 21, 2022

Also, understand all the costs associated with opening a bar such as insurance, licenses, staffing costs , etc. On the other hand, you may need to hire a manager and/or assistant manager to help with the day-to-day operations. Fast and reliable POS system. Create a solid marketing plan. Summing Up.

Bar 78

Bar License Restaurant Law POS 78

Restaurant365

OCTOBER 22, 2021

Even if you use restaurant management software to automatically pull much of this restaurant data, understanding the calculations behind your operational restaurant reporting can help you place these numbers in context. An accurate CoGS relies on up-to-date numbers from your inventory management system. How to calculate net profit.

Point of Sale 78

Point of Sale Insurance Inventory Cash Management 78

Modern Restaurant Management

AUGUST 5, 2020

and will enable TouchBistro to fully integrate customer loyalty and guest marketing into its all-in-one point-of-sale (POS) and restaurant management platform. This year’s Neighborhood to Nation Contest will double the number of winners to award 20 prizes of $5,000 in cash along with a robust marketing package.

Food Safety 527

Food Safety Mobile Ordering Online Ordering Kitchen Safety 527

Restaurant365

APRIL 15, 2021

This data indicates the state of your restaurant’s financial health, and it can even help you and your managers understand where you can start improving profitability. If you have an integrated Point of Sale (POS) system, compiling data can be done automatically. A P&L is a management tool for your business.

Point of Sale 78

Point of Sale Cash Management Beverage Insurance 78

The Food Corridor

MAY 7, 2020

Other considerations are driver insurance, rigorous hygiene guidelines, and offering contactless deliveries. With restaurants closed up and down the country, tech companies that supply POS, reservations, marketing, and other software platforms, have quickly launched their own ordering platforms. Create an Online Store.

Delivery 98

Delivery Online Ordering Food Email Marketing 98

Restaurant365

JUNE 17, 2020

Employee insurance. This would require aggregating sales data from your POS on an hourly basis, or even better, every 15 minutes. Known as intraday polling, this technology enables restaurant managers to make hourly Labor decisions based on the amount of current sales each day to reach optimal labor performance. Payroll taxes.

Tip Distribution 78

Tip Distribution Point of Sale Employee Relations Restaurant Law 78

Restaurant365

OCTOBER 14, 2020

Balancing cash flow month to month, let alone year to year, can be difficult for the ever-changing restaurant industry. As a restaurant owner or manager, you can use a budget to understand your income and expenses, and at what levels you will profit, break even, or operate at a loss. And yet, in times of uncertainty, like the COVID-19.

Point of Sale 78

Point of Sale Email Marketing Advertising Cash Management 78

Restaurant365

MARCH 15, 2022

According to the National Restaurant Association, the average cost of restaurant turnover in 2021 was $1,869 per hourly employee, $8,119 per manager and $14,689 per general manager. Train your managers to hire the right employees. Managers must be able to identify applicants who are good cultural fit. Paid time off.

Hiring 78

Hiring Cash Management Insurance Communication 78

Lavu

JANUARY 21, 2020

A good accountant will help you in managing finances and producing key financial statements. With an automation tool like Sourcery , you can integrate the system into your restaurant management applications. This allows you to process, extract, and transfer data between the accounting system and your restaurant POS system. .

Point of Sale 78

Point of Sale Inventory Restaurant Law Front of House 78

SpotOn

MARCH 25, 2024

Licenses and permits  Every restaurant business has a lengthy list of licenses and insurance needed to open, serve your guests, and protect your business. Even worse, they don't renew your lease, and now your cash-printing restaurant is out of business. Just make sure your POS partner gives you options.

License 52

License Insurance Point of Sale Equipment 52

The Restaurant Times

SEPTEMBER 30, 2021

It allows you to spend less cash each month. Insure your truck . However, if you don’t have the correct insurance, your food truck might cost you thousands of dollars, or perhaps put the future of your business in jeopardy in case of a mishap. Chose A POS System . Source: Top POS Systems. Source: LBB.

Food Truck 52

Food Truck Food License Mobile Ordering 52

Clover - Restaurants

MARCH 26, 2024

It may or may not matter to the kitchen managers what time you use the space. Forking over that cash can be worth it if it saves you (or your team) precious time and effort. Managers of commercial kitchens want to know that your business can make rent, so be ready to share your business plan or create one to share with them.

Food Truck 52

Food Truck Cash Management Website Management Small Business 52

The Restaurant Times

MAY 31, 2021

However, setting up the business in a posh and expensive location right at the start might affect cash flow and take you longer to reach the break-even point. . Being aware of the crime rate of your bakery locality is crucial to prevent unnecessary security costs and insurance premiums. Competition.

Point of Sale 69

Point of Sale Cash Management Customer Service Employee Relations 69

The Restaurant Times

AUGUST 5, 2022

In fact, accounting software in restaurants has seen a 21 percent rise in popularity since 2018, second only to POS technology and payment processing. Successful restaurant accounting can help in efficient cash management, balancing financial books, optimizing costs, and overall business planning. Automated Inventory Management.

Cash Management 52

Cash Management Point of Sale Inventory Employee Relations 52

BNG Point of Sale

AUGUST 19, 2021

Occupancy Expenses: These are fixed costs such as real estate (rent, or mortgages and property taxes) insurance, and utilities (I.e., You get a strong look at the biggest indicators for profit and how those elements are managed. At BNG POS, we often offer this software to our customers. . electric and waste removal.) .

Cash Management 52

Cash Management Point of Sale Inventory Food Truck 52

Touch Bistro

APRIL 13, 2021

As you can imagine, payroll is a pretty important part of restaurant management and there is a lot of responsibility attached to proper compliance, including: The timely and accurate payment of employees Avoidance of fees, fines, and legal troubles Proper calculation of taxes Maintaining an accurate record of employee earnings.

Tip Distribution 54

Tip Distribution Employee Relations Restaurant Law Cash Management 54

Touch Bistro

SEPTEMBER 21, 2021

Management and Ownership: Provide more information about yourself and the management team you’ve assembled for your new restaurant, highlighting any relevant experience that will aid in your success. Technology: What’s the best restaurant POS system for your venue?

Document 52

Document License Download Insurance 52

Apicbase

JUNE 16, 2023

In practice, however, successfully managing a group of busy restaurants is an awfully tough undertaking. The metrics and calculations in this list will help you bring order to the chaos and manage the performance of each unit in the chain. In theory, it sounds easy. Why Are Metrics Important? That said, let’s dig in.

Point of Sale 52

Point of Sale Inventory Waste Employee Relations 52

Modern Restaurant Management

MARCH 16, 2020

Due to the Covid-19 outbreak effect on the restaurant industry, Modern Restaurant Management (MRM) magazine is compiling a list of resources available for restaurant owners, operators and managers. Global insurance brokerage Hub International , is responding tonumerous inquiries asking for more guidance through the Coronavirus crisis.

Food Safety 585

Food Safety Kitchen Safety Small Business Employee Relations 585

7 Shifts

MAY 1, 2024

Table of Contents 5 easy steps to simplify bookkeeping in the restaurant industry Essential accounting and bookkeeping reports for restaurant owners and managers Identifying and reducing controllable costs in the restaurant business Should I outsource restaurant bookkeeping or do it myself?

Cash Management 221

Cash Management Inventory Employee Relations Beverage 221

7 Shifts

MAY 23, 2024

Managing a restaurant is not for the faint-hearted. You can easily retrieve this data from your POS system. A restaurant budget allows restaurant owners and managers to see directly if they are meeting their income and expense benchmarks. In this industry, one of the worst-case scenarios is running out of money.

Point of Sale 221

Point of Sale Seasonal Menu Food Supply Cash Management 221

EATER

NOVEMBER 1, 2021

There have already been calls to improve worker pay, and provide benefits like health insurance , child care , and sick leave. Domino’s is planning on upgrading its POS system, making it easier for new workers to learn. She tells Eater that at one restaurant she worked at, managers said they were “disgusting.” “And

Kitchen Safety 363

Kitchen Safety Fine Dining Front of House Back of House 363

Modern Restaurant Management

MAY 5, 2020

. “This pandemic has shed light on how technology can be used to quickly adapt core services within the food industry like delivery, fulfillment, and supply chains," said Lior Susan, Founder and Managing Partner at Eclipse. Delivery management has never been easier! ” Helping the Helpers.

Guest Recovery 305

Guest Recovery Food Safety Loyalty Program Point of Sale 305