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 519

Cash Management Restaurant Law Food Safety Point of Sale 519

Modern Restaurant Management

SEPTEMBER 15, 2023

Nearly every restaurant in the United States relies on a Point of Sale (POS) system for the majority of its front-of-house operations. Not only can that become frustrating for your guests, but it can also make in-house operations much more difficult. Your delivery management and online ordering will also be impacted.

POS 520

POS Front of House Cash Management Online Ordering 520

Modern Restaurant Management

APRIL 1, 2020

Last year, one of the first brands to go cashless, Sweetgreen, changed its policy to accept cash at all its locations. The quick-service restaurant (QSR) started accepting cash after Amazon confirmed it would take cash payments in all of its previously cashless Amazon Go stores. To eliminate cash is to eliminate customer choice.

Cash Management 433

Cash Management Mobile Ordering Employee Relations Consumer Goods 433

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 470

Audits Cash Management Point of Sale Document 470

Modern Restaurant Management

APRIL 17, 2023

Mobile Order Applications Mobile smart order apps for waiters help to speed up the service and manage the orders right at the guest’s table. A mobile order app will enable the clients to conduct restaurant management and delivery systems automatically, faster, and completely online with the help of new innovative solutions.

Mobile Ordering 518

Mobile Ordering Cash Management Online Ordering Front of House 518

Modern Restaurant Management

MARCH 20, 2024

Whether founders need funding for geographical expansion, marketing or operational enhancements, presenting a compelling case to potential investors is required. rent) and (v) cash-on-cash return / payback – how long and at what rate will investment in a specific location be returned.

2024 450

2024 Cash Management Food Sustainability 450

Modern Restaurant Management

DECEMBER 30, 2022

Between supply chain issues, staffing challenges and increasing operation costs, restaurants have had to re-examine roles and responsibilities for employees and lean into technology to increase operational efficiency. Redefining the Role of the Manager. Automating the Front of House. Simplicity Is Key.

Technology 520

Technology Front of House 2023 Cash Management 520

Modern Restaurant Management

FEBRUARY 9, 2023

For example, with an uptick in business comes an influx of cash, especially with higher interest rates motivating consumers to utilize cash versus credit cards. Whether you own and operate a large establishment or a small one, there is always an increased chance of risks for cash management when dealing with more cash.

Cash Management 411

Cash Management Transportation Recycling Small Business 411

Modern Restaurant Management

OCTOBER 14, 2024

For restaurants, especially those operating on thin margins, these fees can influence pricing strategies, profitability, and even operational decisions. This includes higher prices and reduced cash flow. By incentivizing customers to pay with cash, businesses can offset the costs associated with credit card processing fees.

Cash Management 322

Cash Management 2023 Customer Service Influencer 322

Modern Restaurant Management

JUNE 12, 2024

“Owners should be examining the table turns and cash receipts of the business daily and comparing them to expectations for that day of the week and time of year,” Johnston told Modern Restaurant Management (MRM) magazine. ” Having an understanding about debt can help operators make long-range informed decisions.

Cash Management 493

Cash Management Equipment Small Business Magazine 493

Modern Restaurant Management

FEBRUARY 9, 2022

Events like the Super Bowl bring an influx of cash to establishments of all sizes, some of which might not have the right cash logistics system in place. When managing an influx of cash, there is an increased chance of risks for cash mismanagement. Identify the amount of time you and your staff spend handling cash.

Cash Management 473

Cash Management Recycling Transportation Sports 473

Modern Restaurant Management

OCTOBER 4, 2022

Credit card payments have been outpacing cash transactions for some time now. The use of cash continues to fall, down to just 19 percent in 2021, and at the same time, spurred by the pandemic and simultaneous advances, digital payments are on the rise. When that network goes down, so do your operations.

Point of Sale 505

Point of Sale Mobile Ordering Cash Management Customer Experience 505

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 486

Loyalty Program Online Ordering Cash Management Point of Sale 486

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 419

Menu Cash Management Seasonal Menu Customer Experience 419

Modern Restaurant Management

JANUARY 8, 2024

Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. During peak seasons, considering outsourcing certain services becomes a practical solution to ensure seamless operations. Read the first part, here.

2024 539

2024 Loyalty Program Cash Management Customer Experience 539

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 450

Cash Management Document Inventory Presentation 450

Modern Restaurant Management

FEBRUARY 16, 2022

Modern Restaurant Management (MRM) magazine quizzed expert Kathryn Petralia, co-founder of Kabbage, an American Express Company, for her analysis on what restaurants owners need to understand about inflation. What are best practices for restaurant owners and operators to manage costs right now?

Cash Management 518

Cash Management Food Supply Seasonal Menu Social Media 518

Modern Restaurant Management

AUGUST 4, 2020

With revenue down, millions of workers laid off and countless eateries closed – many of them permanently – experts anticipate the operational strategy going forward to be driven by innovation and methods for doing more with less. Many kiosk manufacturers don’t offer kiosks with cash options.

Cash Management 496

Cash Management 2003 Mobile Ordering Customer Service 496

Modern Restaurant Management

JUNE 5, 2020

Off premise and online ordering capabilities have become industry standard, and there are multiple ways for dining facilities to incorporate this into their operations. But after the coronavirus swept through the nation, touch-free transactions have spiked, likely because we are collectively realizing how easily germs can spread via cash.

Fast Casual 521

Fast Casual Online Ordering Cash Management Mobile Ordering 521

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 367

Cash Management Small Business Inventory Customer Experience 367

Modern Restaurant Management

DECEMBER 28, 2022

Operating Expenses (OpEx) are the recurring monthly bills a restaurant or bar usually budgets for: electricity and water, rent, food and alcohol, etc. More than just a rental solution, EaaS can turn those big-ticket pieces of equipment restaurants rely on into services fully managed by a third party provider. EaaS for Big Business.

Small Business 493

Small Business Equipment Cash Management Back of House 493

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 448

POS Marketing Point of Sale Cash Management 448

Modern Restaurant Management

NOVEMBER 9, 2023

Purchasing equipment can restrict your flexibility when it comes to upgrading or expanding your operations. For small businesses or startups with limited capital, this significant expenditure can strain cash flow and hinder growth opportunities.

Equipment 492

Equipment Cash Management Small Business Technology 492

Modern Restaurant Management

OCTOBER 12, 2021

But it’s clearly not helping, as a recent National Restaurant Association survey found nearly three-fourths of operators (72 percent) name recruitment and retention as their top challenge, up from just eight percent in January 2021.

Recruiting 492

Recruiting Cash Management Employee Relations Download 492

Modern Restaurant Management

AUGUST 16, 2024

In today’s world, restaurants are always looking for ways to manage transaction fees and optimize profitability. Businesses and restaurants can adopt this pricing model through a point-of-sale (POS) system, presenting both cash and card price. While this may seem fictitious, it’s legal in all 50 states.

Pricing 433

Pricing Cash Management Fine Dining Point of Sale 433

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 491

Online Ordering Website Management Point of Sale Inventory 491

Modern Restaurant Management

MARCH 10, 2020

” The cashless multi-vendor open-air gastronomic market has two locations in Prague, and a total of 34 independently operated restaurants, bars and retailers. Cash is dirty; and 4) we will soon launch bundled food delivery, acting as a marketplace for cloud kitchen delivery. Cash is dirty. Eat healthier.”

Kitchen Safety 516

Kitchen Safety Food Safety Cash Management Food Supply 516

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

Modern Restaurant Management

FEBRUARY 22, 2022

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. A cash bonus is simply a sum of cash awarded to an employee for superior performance.

Cash Management 520

Cash Management Merchandise Front of House Coupons 520

Modern Restaurant Management

MAY 21, 2020

The news may raise concerns for both customers and operators alike because it’s no secret just how contagious COVID-19 can be in public places. For their safety and convenience, enable delivery and payment services that allow customers to pay without cash, as well as choose when and how their order should be delivered.

Social Media 539

Social Media Food Safety Cash Management Customer Service 539

Modern Restaurant Management

AUGUST 19, 2020

For Rustic Table, a restaurant operating within the hospitality focused district of Times Square in New York City, the impact of Covid-19 seems insurmountable. It’s a delicate balance of cash flow and savings on overhead costs that has restaurant owners scrambling for solutions. The first important factor is margin.

Cash Management 572

Cash Management Point of Sale Consumer Goods Small Business 572

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. Let’s say you operate a burger shop with beginning inventory valued at $5,000. Optimize Inventory. Adopt Technology.

Front of House 531

Front of House Inventory Food Safety Social Media 531

Modern Restaurant Management

MARCH 5, 2025

My business plan laid out my steppingstones: open three artisanal ice cream shops, create synergy, and ride out the cash flow. Practically overnight, we shifted from a scoop shop model to a full-fledged CPG business, navigating supply chain disruptions, evolving consumer demand, and the operational realities of large-scale manufacturing.

Food 322

Food Back of House Consumer Goods Kitchen Safety 322

Modern Restaurant Management

AUGUST 16, 2021

The common thread is that each story is about incredible staff and great managers and that, together, they support each other inside and outside of the restaurant. Caring Managers. When the chef and general manager found this out, they immediately jumped into action. At the end of the night, two servers tied for first place.

Front of House 520

Front of House Cash Management Back of House Hiring 520

Modern Restaurant Management

JUNE 9, 2022

But independently owned, more agile operations can out-maneuver big brands by leaning on their point of sale (POS) platforms to increase sales and expand their client bases. You can also leverage POS-gathered restaurant analytics to simplify forecasting, making things like off-premises orders operate more smoothly.

Front of House 490

Front of House Point of Sale POS Cash Management 490

Modern Restaurant Management

OCTOBER 8, 2024

Restaurant operators have long grappled with the question, "Should I hire for soft or hard skills?" Both brands take a people-centric approach, intentionally embedding soft skills like communication, teamwork, and resilience into hiring, training, and management practices. " and for good reason.

Hiring 419

Hiring Cash Management Customer Service Leadership 419

Modern Restaurant Management

JANUARY 30, 2024

Festaurant growth done right starts with leaders aligning around operational priorities and smart key performance indicators (KPIs). They must connect to priorities across key operations, marketing, customer service and finance roles. They need alignment with practical operational realities and bandwidth.

Leadership 508

Leadership Small Business Hospitality Customer Experience 508