Modern Restaurant Management

SEPTEMBER 1, 2023

Inefficient restaurant inventory management practices, improper storage, gaps in inventory logs, theft, and waste can cause even the most successful kitchens to struggle or fail. Below are the top seven inventory management mistakes restaurants are making, and how to correct them.

Inventory 180

Inventory Management Management Cash Management 180

7 Shifts

MARCH 11, 2020

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. You’ll need roughly 10% down on your space.

License 354

License Cash Management Inventory Food Supply 354

7 Shifts

SEPTEMBER 20, 2021

Delivery, scheduling, inventory management, reservations, and guest management have seen technological advancements over the past few years, and it's just the beginning. Your POS system reduces ordering errors, increases front-of-house and back-of-house efficiency, and helps you control inventory. All of this (and more!)

Technology 370

Technology Front of House Social Media Back of House 370

Culinary Cues

MARCH 26, 2022

Every business requires controls in pricing, consistency, quality, and cash handling. All of the tools are available for inventory control, purchasing systems, cash handling, costing templates, and quality assessment. Social media is very inexpensive, but someone needs to effectively manage it every day and every way.

Cash Management 379

Cash Management Social Media Restaurant Law Communication 379

7 Shifts

AUGUST 20, 2020

They include: Labor management software Order management software Inventory management software Guest engagement software Contactless, mobile payment processors 5 Tools to Use to Increase Operational Efficiency in Restaurants Did you know that 48% of restaurants use three or more tech vendors?

Technology 293

Technology Mobile Ordering Dietary Restrictions Cash Management 293

Culinary Cues

AUGUST 7, 2021

STATE OF MIND: Many are approaching this challenge as a roadblock to success, something that is preventing restaurants from finally getting their groove back and watching cash flow exceed the cost of doing business. True – this will not help restaurants today, but we need to get beyond crisis management and start to think long term.

Social Media 474

Social Media Cash Management Blog Equipment 474

7 Shifts

AUGUST 18, 2024

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. This is only a guideline.

License 370

License Equipment POS Food Supply 370

7 Shifts

JULY 20, 2024

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.

2024 221

2024 Cash Management Inventory Waste 221

7 Shifts

MARCH 10, 2021

This process includes focusing on your daily finances , such as cash flow, payroll, and inventory. Invest in Technology Accounting and inventory management software are just a couple of the technologies that small business owners should invest in. Or check out how 7shifts optimizes your restaurants labour management.

Management 370

Management Management Small Business Email Marketing 370

7 Shifts

JULY 5, 2024

Running a restaurant is not just about serving great food; it’s also about managing finances. With 50% of restaurant owners reporting inventory costs as the top concern last year, you must leverage reporting tools to see how much profit your restaurant is making and where your money is going.

Cash Management 243

Cash Management Inventory Seasonal Menu Beverage 243

Culinary Cues

MAY 13, 2023

Each of those “departments” will require some level of unique kitchen management (sous chef) and specialists to support the uniqueness of function. As long as the checkbook has a credit balance they are in good shape (until predictable sales slump and cash flow turns the corner).

Hotels 440

Hotels Point of Sale Cash Management Training 440

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

JULY 28, 2021

You would think something as second nature to people as communication would be easy to manage in the workplace. Maybe one of your servers just called in sick at the last minute, your shipment of inventory containing all the ingredients for tonight's dinner special never showed up or the plumbing is acting up again. Pre-Shift Meetings.

Communication 430

Communication Management Management Front of House 430

Lavu

DECEMBER 12, 2022

No matter the size of your restaurant, one truth remains: cash flow is king. Restaurant cash flow management is the lifeblood of your business. Yet, while most small business owners know this truth, many still struggle with basic cash flow definitions, fundamentals, and management strategies that actually maximize benefits.

Cash Management 78

Cash Management Management Management Point of Sale 78

Modern Restaurant Management

SEPTEMBER 27, 2023

For restaurant owners, there are a number of issues in their workplace keeping them up at night and hindering them from successfully managing and operating their restaurant efficiently. Money and Inventory Management The profitability of a restaurant depends on the careful management of cash flow.

Cash Management 207

Cash Management Restaurant Law Food Safety Point of Sale 207

Modern Restaurant Management

FEBRUARY 27, 2023

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. Below are seven tips to improve the cash flow and make the most out of a current location to ensure a steady stream of revenue to serve as a buffer through those first months.

Cash Management 189

Cash Management Point of Sale Inventory Email Marketing 189

Embrace the Suck

JANUARY 20, 2021

They didn’t have adequate cash reserves and lived for the weekend sales to keep them going. We should be managing our inventory better. This will also reduce inventory and staffing as well, which is a good thing moving forward. Get Your S**t Together. Most restaurants and bars got caught with their pants down.

Social Media 417

Social Media 2001 Online Ordering Take-out 417

Modern Restaurant Management

FEBRUARY 13, 2020

Small business owners in nearly every industry struggle with cash flow and how to best utilize their working capital. Nearly 60 percent of failed businesses cite cash-flow issues as a primary reason for their failure, which shows how cash flow management can make or break your business. Get Paid Faster.

Cash Management 147

Cash Management Small Business Inventory Customer Experience 147

Sculpture Hospitality

JULY 7, 2021

Since the beginning of the COVID-19 pandemic, bar owners around the world have learnt a number of lessons about managing their businesses during challenging times. Perhaps no lesson, however, has been as important as understanding cash flow.

Bar 148

Bar Management Management Inventory 148

Culinary Cues

MAY 15, 2021

Four-page menus do not reflect business common sense – inventories become unmanageable, waste is much more difficult to manage, the level of expertise required of employees grows exponentially, consistency and quality are challenging, and profit is hard to predict and realize.

Customer Experience 400

Customer Experience Cash Management Customer Service Front of House 400

7 Shifts

OCTOBER 31, 2022

The management team. Management team. Here is also a good time to discuss processes you plan to adhere to in the back of the house, such as food cost control methods and who your inventory suppliers are. You may want to list out: Team Management. Inventory management systems. Task management tools.

Point of Sale 397

Point of Sale Back of House Document Download 397

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

7 Shifts

APRIL 3, 2020

Download all the data from your restaurant POS or back-office management platform to get a sense of how your restaurant is operating today. Pro tip: Look at implementing an inventory tracking system like Xtra Chef —it might be a new cost, but it will pay for itself in better food costing.

BOH 368

BOH POS Influencer Point of Sale 368

Culinary Cues

AUGUST 28, 2020

I don’t know what that means for your operation but take an inventory and look for the sensual interaction with guests. As owners, managers, and chefs – regardless of the hours that you invested in the job in the past, this is not the time to back off – this is the time to be even more present. All of this still counts! BE PRESENT.

Social Media 442

Social Media Communication Loyalty Program Training 442

Modern Restaurant Management

JUNE 14, 2022

One study found that internal employee theft is responsible for 75 percent of inventory shortages and about 4 percent of restaurant sales. There are all kinds of different types of restaurant theft, ranging from food and inventory, theft at the register and checkout counter, external grease theft, time theft and employee product theft.

Point of Sale 203

Point of Sale Kitchen Safety Back of House Inventory 203

7 Shifts

JANUARY 23, 2020

This advice were submitted by owners and managers of restaurants of all sizes, concepts, and locations in the forthcoming 7shifts Restaurant Labor Management Study in 2020 ( subscribe to get your copy when it’s published!). Manager, Mercato Italiano. As a manager, work for your staff and your staff will work for your customer.

2020 335

2020 Hiring Cash Management Education 335

Modern Restaurant Management

AUGUST 6, 2020

Improving from 20 percent margin to a 35-percent margin on a $12 dish, serving five0 covers per night translates into a $90 net increase in profits, allowing for increased cash flow to sustain operations. Optimize Inventory. Let’s say you operate a burger shop with beginning inventory valued at $5,000. Adopt Technology.

Front of House 212

Front of House Inventory Food Safety Social Media 212

7 Shifts

SEPTEMBER 6, 2024

COGS is based on your inventory, meaning it includes the value of what you start with, what you purchase, and what’s left at the end of the period. Efficiently managing labor can help you keep your restaurant COGS under control. The formula includes the beginning inventory, purchased goods, and ending inventory.

2024 195

2024 Seasonal Menu Inventory Audits 195

7 Shifts

JANUARY 10, 2024

Restaurant management systems have evolved rapidly over the past couple of decades. Table of Contents What is a restaurant management system? How does a restaurant management system work? A restaurant management system, or RMS, is software designed to streamline restaurant operations and simplify restaurant management.

Management 195

Management Management Point of Sale POS 195

7 Shifts

JANUARY 10, 2024

Restaurant management systems have evolved rapidly over the past couple of decades. Table of Contents What is a restaurant management system? How does a restaurant management system work? A restaurant management system, or RMS, is software designed to streamline restaurant operations and simplify restaurant management.

Management 195

Management Management Point of Sale POS 195

7 Shifts

DECEMBER 3, 2019

Consider looking to: Banks Merchant Cash Advances Angel Investors Friends & Family Additionally, you should be ready (and willing) to front a good amount of your own money to expand your franchise. However, opening a business can easily become a full-time job, which limits the amount of time you’ll have to manage your existing locations.

Franchise 368

Franchise Franchising Audits Point of Sale 368

Modern Restaurant Management

AUGUST 2, 2023

Inventory, Ingredient Costs, and Seasonality Inventory management and controlling ingredient costs are critical for any restaurant's profitability. Employing efficient cash management software can help you track expenses and optimize cash flow.

Menu 167

Menu Cash Management Seasonal Menu Customer Experience 167

Modern Restaurant Management

OCTOBER 21, 2022

Rapid inclination of restaurateurs to adopt POS software for better management of operations will complement the restaurant POS terminals market by 2027. Restaurant point-of-sale (POS) terminals are steadily replacing the now obsolete cash registers used in restaurants.

POS 179

POS Marketing Point of Sale Cash Management 179

Modern Restaurant Management

APRIL 5, 2022

The reasons for the accelerated growth of this idea, the contribution of POS to these kitchens, the display systems to make the operations easier, and the automated operations used in the inventory as well in the kitchen for easy food management- are some of the ideas that will be discussed in the following paragraphs.

Online Ordering 196

Online Ordering Website Management Point of Sale Inventory 196

Modern Restaurant Management

AUGUST 27, 2024

By the time you manage inventory, staffing, customer demand and narrow profit margins, the last thing you want to think about is the IRS. Restaurants, like other cash-intensive businesses, are a frequently targeted for audits by the IRS. It only takes a few seconds to record transfers of cash received to the petty cash box.

Audits 188

Audits Cash Management Point of Sale Document 188

7 Shifts

DECEMBER 8, 2020

Recommended Reading: Restaurant Task Management: How to Communicate Tasks to Staff 4. This one comes from 7shifts’ Client Success Manager, Katy Gonzales, also a hospitality alum (We said there were a lot of us!). Cash , while it might seem like a good idea, can come across as too impersonal in some cases.

Front of House 370

Front of House Social Media Employee Relations Back of House 370

Modern Restaurant Management

FEBRUARY 3, 2022

Seventy-four percent of full service restaurants (FSRs) managed to maintain or increase their sales during the pandemic; however, profit margins in 2021 declined to 10 percent, compared to 12 percent in 2019, according to third annual State of Full Service Restaurants Report released by TouchBistro.

Loyalty Program 194

Loyalty Program Online Ordering Cash Management Point of Sale 194