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

Restaurant365

APRIL 1, 2020

Tracking and understanding your restaurant’s cash flow is essential, whether business is booming, or times are tough. A healthy, positive cash flow is necessary to pay your bills and grow sales. Monitoring your cash flow is more important than ever during the COVID-19 outbreak. How to calculate restaurant cash flow.

Cash Management 98

Cash Management Management Management Point of Sale 98

Rocket Fuel

NOVEMBER 19, 2024

Nationwide economic shifts following the pandemic have made it necessary for restaurant owners and operators to find new ways to increase profits, add efficiency, lower costs and stay competitive. Back-of-House (BOH) Systems: BOH platforms offer streamlined inventory management, staff coordination and kitchen operations tracking.

Operations 52

Operations BOH Franchise Franchising 52

Apicbase

JULY 16, 2024

But… Purchasing (or procurement… never ‘buying’) is such a fiddly part of restaurant operations that it pays to be at the top of your game at all times. That’s because, next to inventory management, F&B purchasing mistakes are the number #1 reason why operators struggle to get their food costs under control.

Operations 98

Operations Inventory Point of Sale Food Order 98

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

Modern Restaurant Management

FEBRUARY 27, 2023

While most restaurant operators will seek outside funding to get the second location running, it still takes time for a unit to become profitable once the doors open. 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.

Cash Management 189

Cash Management Point of Sale Inventory Email Marketing 189

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

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. And the backend software powering restaurant operations? Table of Contents What is a restaurant management system? How does a restaurant management system work? How does a restaurant management system work?

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. And the backend software powering restaurant operations? Table of Contents What is a restaurant management system? How does a restaurant management system work? How does a restaurant management system work?

Management 195

Management Management Point of Sale POS 195

ChowNow

JULY 30, 2024

Understanding and monitoring key restaurant metrics can help your management team make informed decisions, improve your profitability, and ensure your restaurant’s long-term success. Calculate COGS by adding the beginning inventory and purchases, then subtracting the ending inventory.

Cash Management 78

Cash Management Point of Sale Inventory Loyalty Program 78

Modern Restaurant Management

AUGUST 27, 2024

Operating a restaurant is not easy. 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. This allows the auditor to verify the expenses.

Audits 188

Audits Cash Management Point of Sale Document 188

Crunchtime

FEBRUARY 7, 2024

Plus, 5 ways to improve compliance with standard operating procedures Whether you run a restaurant business with 500+ locations or a handful of convenience store locations, you know what work needs to be done – and how it should be done properly – to run your business effectively. What are standard operating procedures in restaurants?

Operations 78

Operations Audits Cash Management Food Safety 78

7 Shifts

AUGUST 16, 2024

Restaurant management is one of the best pathways for servers and hosts looking to make the next step in their hospitality careers. If you see yourself managing a team and overseeing operations, the path of a restaurant manager may be fulfilling. What do restaurant managers do? As of 2024, they make around $26.42

2024 195

2024 Management Management Leadership 195

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

Embrace the Suck

APRIL 26, 2020

To get you started down the KPI Mastery path, let’s start with the basic metrics: Cash Flow. Cash flow is simply the amount of money going in and out of the restaurant. It’s essentially how much cash you have on hand. Cash flow = Cash input - cash output. Allow me to help you manage your KPIs.

Cash Management 439

Cash Management Point of Sale Inventory Bar 439

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. Setting up an LLC requires filing paperwork with your state government and drafting an operating agreement that outlines the LLC's rules and regulations.

Bar 370

Bar License Email Marketing Customer Service 370

7 Shifts

AUGUST 20, 2020

Fortunately, tech can help boost operational efficiency in restaurants. How to cut labor costs in a restaurant 101: Use a labor management tool Did you know that restaurants spend about 30% of their revenue on wages, overtime, payroll taxes, and employee health care? In fact, labor is one of the biggest costs for restaurants.

Technology 293

Technology Mobile Ordering Dietary Restrictions Cash Management 293

Modern Restaurant Management

JANUARY 5, 2024

To minimize service disruptions across restaurant operations, proactive businesses prioritize not just navigating the current economic environment but also preparing for any uncertainties in the future. Reevaluating operational processes helps find opportunities to increase a company and its restaurants’ financial position.

Supplies 117

Supplies Cash Management Food Supply Transportation 117

7 Shifts

SEPTEMBER 16, 2024

One of the main reasons is to cut losses due to financial challenges, with 52% of restaurant owners saying high operating and food costs are really cutting into their profits. 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.

2024 195

2024 Document Point of Sale Cash Management 195

Xtra Chef

DECEMBER 2, 2020

Restaurant inventory management with Excel takes too time and can lose you money. Inventory management with Excel in restaurants is a common food cost control method that helps you order the right amount of food at the right time to minimize waste, reduce food costs, and maximize profits. Here’s a better solution.

Inventory 91

Inventory Management Management Cash Management 91

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. In 2022, U.S. software company NCR Corp.

POS 179

POS Marketing Point of Sale Cash Management 179

Culinary Cues

MAY 13, 2023

This requires a complex organization of independent operations that are still required to communicate, share, and fall in line with the mission of the property. Each of those “departments” will require some level of unique kitchen management (sous chef) and specialists to support the uniqueness of function.

Hotels 436

Hotels Point of Sale Cash Management Training 436

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

Xtra Chef

OCTOBER 28, 2020

Restaurant inventory management is not the most enjoyable restaurant task. Inventory management is a cost management strategy that influences your restaurant food costs , revenue, profitability, and cash flow. But having too little inventory makes it difficult to meet customer demand.

Inventory 78

Inventory Management Management Cash Management 78

Restaurant365

OCTOBER 30, 2020

As a restaurant owner or manager, sometimes you may need to jump in to help keep business running smoothly. However, the day-to-day tasks can distract from the bigger-picture work that is essential for your long-term business health: restaurant operations management. What is restaurant operations management?

Operations 78

Operations Management Management Inventory 78

Culinary Cues

DECEMBER 17, 2020

None, however, are as devastatingly out of the operators control as this pandemic. Even the best operators are at a loss for solutions. A reduction in restaurant business leads to crop waste, unplanted land, and serious cash flow problems for farmers.

Uniforms 472

Uniforms Cash Management Brewery Consumer Goods 472

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 375

Cash Management Social Media Restaurant Law Communication 375

Squirrel Systems

MAY 17, 2024

The restaurant industry is dynamic and constantly evolving, making growth and expansion exciting and challenging for operators. Restaurant operators can create a stable and sustainable growth path by focusing on these key areas. Cost Management : Monitor costs, including food, labor, and overhead.

Operations 52

Operations Loyalty Program Cash Management Point of Sale 52

Restaurant365

AUGUST 4, 2020

Running a successful restaurant business is all about spending your cash wisely. You invest a large amount of your budget in inventory. When that inventory is wasted, stolen or spoiled before it’s sold, it must be written off as an expense in the books. What is restaurant inventory management?

Inventory 78

Inventory Management Management Cash Management 78

Restaurant365

MARCH 10, 2022

With food costs running at approximately 30% or higher, learning importance of inventory management and how to prevent common mistakes is critical in successfully driving down costs and maximizing profits. First, let’s break down the two types of inventory costing, Actual and Theoretical. Theoretical Variance.

Inventory 78

Inventory Management Management Merchandise 78

Modern Restaurant Management

JANUARY 27, 2023

It takes a lot to become an entrepreneur including learning actively from mistakes, understanding operations, and managing finances. Many entrepreneurs who are new to the business might not consider issues like cash availability, inventory costs, and overhead costs.

Cash Management 180

Cash Management Document Inventory Presentation 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

MARCH 10, 2021

There are many reasons why a restaurant fails — no industry experience on the part of the owner, poor location, not enough operating capital — but the main reason is a lack of planning. This process includes focusing on your daily finances , such as cash flow, payroll, and inventory.

Management 370

Management Management Small Business Email Marketing 370

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 147

Bar Inventory Management Management 147

ChowNow

AUGUST 26, 2024

All of the ingredients of success come down to how you manage your money to keep costs under control and bring in profits. Operational efficiency. Startup Budget This covers initial costs such as equipment, licenses, renovations and initial inventory. A clear, thoughtful budget is the guiding recipe for any thriving restaurant.

Cash Management 78

Cash Management Seasonal Menu Inventory Equipment 78

Modern Restaurant Management

APRIL 5, 2022

Various existing and new companies are adopting this trend to reduce operational expenses and risks. In this blog, we will discuss the various facets being utilized to enhance the entire operation of the ghost kitchen efficiently. Dog Haus, for example, began with just two stores but now operates over 10 ghost kitchens worldwide.

Online Ordering 196

Online Ordering Website Management Point of Sale Inventory 196