Culinary Cues

DECEMBER 17, 2020

A reduction in restaurant business leads to crop waste, unplanted land, and serious cash flow problems for farmers. Restaurants account for a large percentage of a fisherman’s direct or indirect business volume. [] Ranchers: Have you noticed that the price of beef, pork, and chicken has increased significantly over the past few months?

Uniforms 472

Uniforms Cash Management Brewery Consumer Goods 472

Hot Schedules

JULY 15, 2021

Mitigating Cost Price Inflation Via Supplier Management. T echnology alone can’t affect the causes of cost price inflation. Not only does this deliver greater control, but negotiated rates also help avoid the inevitably higher costs that come from buying with petty cash. First, let’s talk about supplier lists.

Pricing 148

Pricing Management Management Cash Management 148

7 Shifts

NOVEMBER 22, 2021

Marketing Plan : detail your pricing structure (e.g., premium pricing), your location, your menu, and the promotional strategies (e.g., Management Team : document your team and why they have the experience and expertise to make your restaurant a success. social media marketing ) you will employ.

Document 393

Document Small Business Cash Management Take-out 393

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. This way, you can decide whether you need to raise your prices or not.

2024 221

2024 Cash Management Inventory Waste 221

7 Shifts

NOVEMBER 17, 2021

Both situations could have been prevented with proper restaurant inventory management, which gives restaurant operators better oversight over what's in stock and how it is used. The Best Restaurant Inventory Management Software. Choose The Right Inventory Management System. The Basics of Restaurant Inventory Management.

Inventory 370

Inventory Management Management Point of Sale 370

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 436

Hotels Point of Sale Cash Management Training 436

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

Culinary Cues

MAY 15, 2021

This creates a domino of challenges – labor dependance, the inability to pay reasonable wages, selling price ceilings that do not yield sufficient profit, etc. When menus are well researched and managed then a restaurant stands a chance of success. Without cash reserves the pandemic cause thousands of restaurant casualties.

Customer Experience 397

Customer Experience Cash Management Customer Service Front of House 397

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

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

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. Make sure to get quotes from multiple suppliers so you can compare prices and services. Hiring a Strong Team You'll need a manager, bartenders, waiters, and security. Keep it simple.

Bar 370

Bar License Email Marketing Customer Service 370

Culinary Cues

AUGUST 28, 2020

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! Don’t let your edge slip away. BE PRESENT. Every few weeks add another twist to what you do – keep it exciting. INVEST IN TRAINING.

Social Media 441

Social Media Communication Loyalty Program Training 441

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

7 Shifts

JUNE 29, 2022

This rule helps franchisees stay compliant by requiring them to offer the items, prices, and specials approved by corporate and their franchisors. Often cited as one of the biggest challenges to operating a franchise , however, the lack of control over menu offerings and their prices can potentially cause dissension from franchisees.

Franchise 370

Franchise Franchising Restaurant Law Document 370

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!). Spend time researching low rent prices with good location. Manager, Mercato Italiano.

2020 335

2020 Hiring Cash Management Education 335

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 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. Your prices – Last, but surely not least, are your prices. If you need to increase your profits, the quickest thing to do is raise prices.

BOH 368

BOH POS Influencer Point of Sale 368

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. Those who don’t are effectively lowering their prices. How is inflation affecting food prices?

Cash Management 207

Cash Management Food Supply Seasonal Menu Social Media 207

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

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. This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits.

2024 215

2024 Loyalty Program Cash Management Customer Experience 215

Modern Restaurant Management

NOVEMBER 24, 2020

Restaurant owners are being forced to find a way to make it through winter with vastly reduced revenue, and many operators are scrambling to reallocate budgets and manage staffing to survive COVID-19. Managing cash flow can be difficult for seasonal businesses. Plan for Gaps in Your Budget. Hire the Right People.

Cash Management 230

Cash Management Social Media Seasonal Menu Food Truck 230

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 128

Cash Management 2023 Customer Service Pricing 128

Culinary Cues

DECEMBER 30, 2019

The following provides some “food for thought”, maybe even a “look in the mirror” checklist for those who are drifting away from those initial goals. [] THINKING THEY CAN MANAGE THROUGH OTHERS. Ignore them and they will find someone else to pay attention. [] CONFUSING LEADERSHIP AND MANAGEMENT.

Cash Management 272

Cash Management Point of Sale Leadership Website Management 272

7 Shifts

OCTOBER 31, 2022

The management team. Management team. But give an idea of some dishes or drinks with projected price points. You may want to list out: Team Management. Inventory management systems. Task management tools. Manager Log Books. Your market position and competitive advantage. Sample Menu. Time Clocking.

Point of Sale 397

Point of Sale Back of House Document Download 397

7 Shifts

FEBRUARY 12, 2021

According to recent data from the National Restaurant Association, restaurants overall sell for a median price of $150,000. The average price sits around half a million dollars, according to data from Restaurants for Sale. However, restaurant prices vary widely, based on region, location and type.

License 444

License Equipment Certification Take-out 444

Modern Restaurant Management

AUGUST 2, 2023

By understanding customer behavior, strategically placing high-profit items, and incorporating innovative pricing strategies, restaurant owners can transform their menu into an influential factor driving business success. It involves strategic dish placement, pricing strategies, and understanding customer preferences.

Menu 167

Menu Cash Management Seasonal Menu Customer Experience 167

7 Shifts

NOVEMBER 26, 2019

million Some franchisors even require aspiring franchisees to have hundreds of thousands of dollars of cash on hand, which runs the bill up even more. Corporate typically does all of the marketing and menu engineering , comes up with training processes, and works out deals with suppliers for better food prices.

Franchise 369

Franchise Franchising Restaurant Law 2015 369

Culinary Cues

APRIL 30, 2020

Value: During this phase – value will be based almost entirely on price and whether the guest feels that they are able to justify the expenditure. Cash Flow: Restaurants should not view profit as a goal during Phase One. Profit will still be elusive, but solid management of expenses can result in breakeven.

Point of Sale 313

Point of Sale Customer Service Customer Experience Cash Management 313

Modern Restaurant Management

AUGUST 19, 2020

As the world of hospitality attempts to recover from the impact of Covid-19, maintaining cash flow and slowly building up revenue are key elements to any establishment’s ability to survive. It’s a delicate balance of cash flow and savings on overhead costs that has restaurant owners scrambling for solutions.

Cash Management 228

Cash Management Point of Sale Consumer Goods Small Business 228

7 Shifts

SEPTEMBER 16, 2024

No matter the cause, selling a restaurant requires careful preparation and strategy to ensure you get the best price and attract the right buyer. If your business is priced too high, buyers may overlook it. Profitability Showing consistent profits and positive cash flow can increase the perceived value of your restaurant.

2024 195

2024 Document Point of Sale Cash Management 195

Modern Restaurant Management

NOVEMBER 21, 2022

Additionally, menu prices at casual dining establishments rose by an average of 9 percent year over year from 2021. The decreased patronage along with inflation increases running costs, which means increased menu prices. Invoice processing, ordering, food cost management, and analysis are a time consuming, but necessary evil.

Operations 197

Operations Cash Management Seasonal Menu Loyalty Program 197

Modern Restaurant Management

JUNE 12, 2024

Full tables, employees earning solid tips, shifts being fully staffed and the restaurant having the ability to source quality provisions at reasonable prices and dependable delivery times, are among the signs the business is thriving, according to Ben Johnston, COO of Kapitus.

Cash Management 197

Cash Management Equipment Small Business Magazine 197

7 Shifts

JANUARY 5, 2024

Any money a customer leaves voluntarily above the ticket price (including tax) is a tip or gratuity. New York also allows employers to claim a tip credit , reducing the cash wage requirement by one-third of the minimum wage. With a $15 minimum wage, this works out to a $10 cash wage and a $5 tip credit.

Restaurant Law 195

Restaurant Law Cash Management Tip Distribution Employee Relations 195

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

7 Shifts

JULY 25, 2024

Profitability remains a challenge for many restaurants, especially with prices for ingredients and labor going up. You can then accept cash payments upon delivery, which is helpful for local restaurants with limited budgets. In fact, only 27% of restaurant owners expect to be more profitable this year.

2024 243

2024 Loyalty Program Point of Sale Online Ordering 243

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. Get creative with it!

Front of House 370

Front of House Social Media Employee Relations Back of House 370