Modern Restaurant Management

DECEMBER 21, 2022

Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. " – John Oakes, Revenue Management Solutions CEO. Slow movers tie up inventory -and the cash needed to by that inventory. For part one, click here.

2023 495

2023 Loyalty Program Mobile Ordering Customer Experience 495

7 Shifts

OCTOBER 31, 2022

You'll have a document to reference during the planning or opening of your restaurant. 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. Inventory management systems.

Point of Sale 397

Point of Sale Back of House Document Download 397

Lavu

NOVEMBER 30, 2024

Proper cost tracking helps you set profitable menu prices, cut expenses, and manage inventory efficiently. Cloud-based POS systems like Lavu are a popular choice because they combine inventory management with real-time cost tracking. Want to boost your restaurant’s profits ? Start tracking ingredient costs.

Seasonal Menu 78

Seasonal Menu Waste Inventory Cash Management 78

Goliath Consulting

OCTOBER 19, 2020

Payment solutions will have to change as well from conventional payment models of cash and plastic credit cards to contactless solutions such as EMV, tap and pay, and mobile wallets (14). AI-powered training, staff scheduling and smart inventory (via RFID tags) are also expected to grow and enhance all aspects of restaurant management.

2021 339

2021 Point of Sale Food Safety Kitchen Safety 339

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. COGS can be expressed as a percentage of your sales, often referred to as the COGS ratio. Efficiently managing labor can help you keep your restaurant COGS under control.

2024 195

2024 Seasonal Menu Inventory Audits 195

7 Shifts

SEPTEMBER 28, 2020

Keep reading to learn: Server side work your FOH team should be doing Best practices for executing these side duties of a server How to build server side work into shifts 4 Server Side Work Duties to Add Alongside Primary Server Duties The most important server side work duties are cleaning, restocking, organizing, and managing safety.

FOH 195

FOH Management Management Cash Management 195

SpotOn

FEBRUARY 26, 2025

Joe Nicholson was a manager and tech consultant at one of the busiest restaurants in Sacramento, CA—Tower Cafe. Now, as a copywriter at SpotOn, he helps restaurant owners and managers learn how to run a more profitable operation. This can also be referred to as operating costs. Prime costs. Contribution margins.

Point of Sale 88

Point of Sale License Insurance POS 88

Focus POS

DECEMBER 8, 2021

During a “normal” year, restaurant owners and operators face issues such as cash flow and capital, inventory management, hiring and training and providing excellent customer service. As far as restaurant challenges go, inventory mistakes can be some of the costliest. Contact us to learn more.

Mobile Ordering 148

Mobile Ordering Point of Sale Online Ordering Cash Management 148

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

Management 195

Management Management 2024 Leadership 195

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

SpotOn

OCTOBER 14, 2024

That means many point-of-sale system functions can be completed from anywhere you have cell reception or WiFi, allowing operators to access reports, change menus, and monitor inventory management on the go. " This refers to the monthly software licenses POS providers charge. How much does POS software cost?

POS 52

POS Loyalty Program Website Management Cash Management 52

7 Shifts

MAY 23, 2024

Managing a restaurant is not for the faint-hearted. A restaurant budget allows restaurant owners and managers to see directly if they are meeting their income and expense benchmarks. Promotes proactive decision-making Restaurant owners and managers must adapt quickly to be successful and retain their competitive advantage.

Point of Sale 221

Point of Sale Seasonal Menu Food Supply Cash Management 221

Modern Restaurant Management

JANUARY 31, 2025

This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news of dramatic Valentine's Day shift, best food scenes, and the evolution of c-store foodservice. ” A Year of Challenges U.S.

Marketing 221

Marketing Loyalty Program 2025 2024 221

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.

Cash Management 97

Cash Management Seasonal Menu Inventory Email Marketing 97

7 Shifts

JULY 1, 2024

Alcohol and Tobacco Tax and Trade Bureau Usually referred to as the TTB, this agency regulates businesses selling alcohol. References: Who have they previously worked with? Will you get a discount if you pay for all the supplies you bought in cash? You can easily register on their website.

Bar 221

Bar License Food Supply Restaurant Law 221

Xtra Chef

DECEMBER 11, 2019

Whether you are an executive chef, a seasoned restaurant finance executive, or an owner/operator who manages your own books, speaking the language of restaurant accounting will help keep all financial stakeholders on the same page. In Part 2, we’ll help you decide how best to manage accounting at your restaurant. Improve budgeting.

Cash Management 90

Cash Management Point of Sale Tip Distribution Inventory 90

Restaurant365

JULY 29, 2020

Though forecasting your restaurant’s sales is vital to determining your cash flow, if you’re not forecasting your sales by their individual revenue centers – dine in, take out, delivery, curbside, catering, etc. – Forecast Your Inventory Needs. cash, credit card, contactless). Forecasting by revenue center.

Cash Management 88

Cash Management Online Ordering Inventory Seasonal Menu 88

Embrace the Suck

JUNE 13, 2022

Instead of becoming “the owner” I gave myself six jobs instead: Chef, General Manager, bookkeeper, HR Director, Chief Marketing Officer, maintenance man, and Beverage Director. I often refer to it as The Combination to Restaurant Success. They become your engine and steering wheel that you refer to daily.

Back of House 44

Back of House Food Truck Point of Sale Take-out 44

Bevspot

JULY 27, 2015

Sitting bar inventory can often be overlooked as profitable products that are waiting to be sold. While the ultimate hope for all sitting inventory is that it will (at some point) convert to sales—the simple fact is that until it does, it represents critical components in your business. Think about how you use cash on a personal level.

Inventory 52

Inventory Cash Management Point of Sale Bar 52

Bevspot

JULY 27, 2015

Sitting Inventory Sitting bar inventory can often be overlooked as profitable products that are waiting to be sold. While the ultimate hope for all sitting inventory is that it will (at some point) convert to sales—the simple fact is that until it does, it represents critical components in your business.

Inventory 52

Inventory Cash Management Point of Sale Bar 52

Apicbase

JULY 16, 2024

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. The goal is maintaining optimal inventory levels without overspending or wasting. Procurement management in a multi-unit or multi-concept environment.

Operations 98

Operations Inventory Point of Sale Food Order 98

Lavu

JANUARY 21, 2020

Accounting refers to the collection, interpretation, classification, analysis, and reporting of financial data. This includes communication of financial statements like income statements, balance sheets, and cash flow. This includes the revenue of the restaurant, cashflow, inventory levels, and income statements.

Cash Management 78

Cash Management Point of Sale Inventory Information 78

Restaurant365

JULY 29, 2020

Though forecasting your restaurant’s sales is vital to determining your cash flow, if you’re not forecasting your sales by their individual revenue centers – dine in, take out, delivery, curbside, catering, etc. – Forecast Your Inventory Needs. cash, credit card, contactless). Forecasting by revenue center.

Cash Management 78

Cash Management Online Ordering Inventory Seasonal Menu 78

Rocket Fuel

FEBRUARY 19, 2025

But it actually refers to all the ways restaurants lose money from theft and supplier fraud to damage, spoilage, and simple operational errors. This is because they are managing the data manually, spending literally dozens of hours retrieving it from stores. What are some sound loss prevention strategies? Chamber of Commerce.

2025 52

2025 Mobile Ordering Employee Relations Delivery 52

Sling

JUNE 8, 2020

When you think about it, creating a business budget is probably one of the least exciting responsibilities of being a manager or an owner. In this article, the management experts at Sling discuss budgeting 101 and give you tips on how to build a business budget for your company, regardless of size. How To Create A Business Budget.

Small Business 109

Small Business Cash Management Uniforms Tip Distribution 109

The Restaurant Times

FEBRUARY 22, 2022

Investing in labour-saving technologies and providing simple and fewer menu selections, for example, has allowed them to free up cash flow and recruit more people or raise compensation. The term “ghost kitchen” refers to a restaurant that does not have any seats or physical presence.

2022 98

2022 Front of House Cash Management Online Ordering 98

Lavu

JANUARY 21, 2020

Every restaurant owner and manager needs to review this report on a daily basis to get a picture of how the restaurant is performing. The report provides valuable information on the restaurant’s sales, taxes, tips, discounts, credit card fees, refunds, comps, cash short or over, and more. Cash Flow Forecast (Weekly Report).

Cash Management 78

Cash Management Point of Sale Information Beverage 78

Sling

AUGUST 1, 2024

Use reliable software Regardless of whether you hire a full – or part-time accountant to manage the operation’s finances, it’s important to use reliable restaurant accounting software to keep track of your income and expenses. Table turnover rate Table turnover rate refers to the number of times you cycle customers through your tables.

Management 78

Management Management Cash Management Seating 78

Lavu

NOVEMBER 1, 2023

Food delivery has become a cash cow for restaurants because it’s convenient and easy for customers. It refers to the amount a restaurant incurs to deliver a single order to a customer’s doorstep. To manage and optimize the cost per delivery, restaurants often perform regular cost analysis and make necessary adjustments.

Delivery 167

Delivery Online Ordering Food Mobile Ordering 167

Lavu

MARCH 11, 2020

Understanding Restaurant Management Software. Among the technology offered today is restaurant management software. . If you’re in the beginning stages of looking for a restaurant management system , you might have multiple questions or concerns. Why do you need restaurant management software?

Management 78

Management Management Cash Management Mobile Ordering 78

Restaurant Engine

JANUARY 26, 2022

This also refers to the last line on your restaurant’s balance sheet – where you show profit and loss and your net operating income. So, you want to do inventory on at least a weekly basis if not daily. This will help you manage your inventory, have the right stock on hand, and ensure no one is stealing your food.

Cash Management 59

Cash Management Food Website Management Inventory 59

Clover - Restaurants

MAY 31, 2024

The exact pricing depends on the POS system you choose, but generally costs will fall into the following categories; Initial setup costs: This refers to a one-time initial setup fee to get your POS system up and running. increasingly moves toward becoming a cashless society, many Americans carry zero cash on them. As the U.S.

POS 52

POS Cash Management Point of Sale Mobile Ordering 52

Touch Bistro

JUNE 22, 2021

When used alongside other financial documents, such as your restaurant profit and loss statement (also known as your restaurant income statement ) and your statement of cash flows, your balance sheet gives you a more complete picture of your restaurant’s finances. Your balance sheet can also be used to forecast short and long-term cash flow.

Management 52

Management Management Cash Management Point of Sale 52

Touch Bistro

APRIL 12, 2021

In fact, it accounts for 75% of all inventory shortages and 4% of sales , according to the National Restaurant Association. Loss prevention refers to your restaurant’s efforts to reduce any and all revenue losses. Cash Register Skimming. Restaurant employee theft is more common than you may think. What is Loss Prevention?

Cash Management 52

Cash Management POS Inventory Point of Sale 52

SpotOn

MARCH 4, 2024

While those classic cash registers did wonders back in the day, point-of-sale (POS) systems have now become the industry standard for small businesses and restaurants. Alongside transactions, modern POS systems run software applications to help businesses manage their employees, reach new customers, and encourage existing ones back in.

Small Business 52

Small Business POS Cash Management Point of Sale 52

Restaurant365

SEPTEMBER 24, 2020

QuickBooks was just an accounting system, and it didn’t include robust operational tools like detailed inventory tracking, theoretical food cost tracking, and restaurant industry functionality. “In the past I had a main accounting system, and then we had a separate accounting operations system for inventories and invoice entry.

Cash Management 60

Cash Management Food Demo Point of Sale 60

The Restaurant Times

AUGUST 5, 2022

Successful restaurant accounting can help in efficient cash management, balancing financial books, optimizing costs, and overall business planning. COGS refers to the total expenses and costs that are involved in the production of goods in a business. Automated Inventory Management. Cash Flow Statement.

Cash Management 52

Cash Management Point of Sale Inventory Employee Relations 52