Culinary Cues

MARCH 26, 2022

Again, turn to the National Restaurant Association for guidance. [] PRICING YOUR MENU BY COMPARISON. More often than not – the success of your restaurant begins with effective menu planning, proper pricing, and consistent execution. Every business requires controls in pricing, consistency, quality, and cash handling.

Cash Management 375

Cash Management Social Media Restaurant Law Communication 375

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 88

Cash Management 2023 Customer Service Pricing 88

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

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

Chowly

JUNE 7, 2023

It’s called smart pricing. It’s a powerful way restaurants can maximize their revenue and profits with a “right price at the right time” model. Smart pricing encourages optimal capacity without sacrificing customers eager to patronize your business — here’s why.

Pricing 52

Pricing Point of Sale Loyalty Program Cash Management 52

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

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 Influencer 167

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

SEPTEMBER 6, 2024

The prices of ingredients can fluctuate due to several factors, including seasonality, supply chain disruptions, and changes in demand. Higher-quality ingredients often come with a higher price tag, but they can also justify higher menu prices and attract customers who are willing to pay for quality.

2024 195

2024 Seasonal Menu Inventory Audits 195

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

7 Shifts

SEPTEMBER 7, 2021

Has the price of going to a restaurant increased? We found a 14% increase in the total price on a receipt. Either diners have switched to ordering the more expensive items off the menu, or we're seeing very strong inflation of prices on menus. The bottom line is that the price of going to a restaurant has increased.

Tip Distribution 370

Tip Distribution 2021 2019 Cash Management 370

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

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

ChowNow

SEPTEMBER 17, 2024

Managing accounts payable (AP) for restaurants efficiently is vital to running a successful restaurant. From keeping up with invoices to negotiating better payment terms with suppliers, these steps can ensure smoother operations, improved cash flow, and stronger relationships with your vendors. Automation can be a game changer here.

Cash Management 78

Cash Management Document Restaurant Law Audits 78

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

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

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. Manage COGS by negotiating better prices with suppliers, minimizing waste, and regularly updating your menu to focus on high-margin items.

Cash Management 78

Cash Management Point of Sale Inventory Loyalty Program 78

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

Modern Restaurant Management

MARCH 20, 2024

rent) and (v) cash-on-cash return / payback – how long and at what rate will investment in a specific location be returned. Is growth coming only from price increases and therefore, higher AOV or is the restaurant doing a better job of upselling and generating more revenue from every transaction?

2024 180

2024 Cash Management Food Sustainability 180

Culinary Cues

AUGUST 22, 2022

There were no sophisticated profit and loss statements or cash flow charts, no point-of-sale systems or computer analytics to pour over and make decisions by; these were not the type of operations that required that level of analysis. This was a lean, fine-tuned machine that worked from the premise of being manageable and comfortable.

Seating 449

Seating Front of House Back of House Cash Management 449

Clover - Restaurants

SEPTEMBER 27, 2024

Cash discount is a compelling solution that’s proven to offset processing costs, drive repeat business, and keep customers satisfied. Today, Clover is excited to make it easy for merchants to offset their processing costs by offering cash discounts at checkout through the Clover Cash Discount tool. What is a cash discount?

Cash Management 52

Cash Management Café Loyalty Program Pricing 52

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

Modern Restaurant Management

OCTOBER 2, 2024

Value pricing will eventually become a less effective tactic for restaurant brands with the market becoming oversaturated with discounted options. To do so, they must evaluate how value can be derived outside of price point. For example, we’re seeing the value trend call for a wider need within the QSR industry for cash kiosks.

Loyalty Program 179

Loyalty Program Mobile Ordering Coupons Customer Experience 179

7 Shifts

MARCH 31, 2021

Determine how you’ll price your products. If you’re offering it at lower prices, be sure that you’re not sacrificing the quality of your food. In general, lenders will want to see at least five years' worth of cash flow projections. Dedicate a section to show off your management team.

Cash Management 370

Cash Management Customer Experience Document Customer Service 370

Modern Restaurant Management

NOVEMBER 9, 2023

These machines can vary in price, but even entry-level models can be costly. For small businesses or startups with limited capital, this significant expenditure can strain cash flow and hinder growth opportunities. Purchasing an ice machine upfront means committing to a specific model, which may become outdated within a few years.

Equipment 197

Equipment Cash Management Small Business Technology 197

7 Shifts

NOVEMBER 18, 2022

More tip management resources. Passing part of this cost directly to tipping customers allows restaurants to retain more capital; it makes it easier to keep menu prices lower, hire additional staff , enable investments in your team, and expand your business. leaves a minimum cash wage of $5.76 ($10.88 - $5.12).

Cash Management 195

Cash Management Restaurant Law Back of House Customer Service 195

Rocket Fuel

NOVEMBER 19, 2024

Back-of-House (BOH) Systems: BOH platforms offer streamlined inventory management, staff coordination and kitchen operations tracking. Payroll Portals: Payroll platforms track employee hours, manage schedules and process payments seamlessly. Was a new manager on duty? These systems help optimize efficiency behind the scenes.

Operations 52

Operations BOH Franchise Franchising 52

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 Cash Management Small Business Take-out 393

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

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

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

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

7 Shifts

FEBRUARY 15, 2024

The demands of the modern bar are significant: inventory issues, demanding customers, volatile prices, and — perhaps the biggest of all — staffing, scheduling, and other labor concerns. Bar management software is a tech-forward way to handle many of the elements necessary to operate a bar successfully.

Inventory 195

Inventory Bar Management Management 195

7 Shifts

FEBRUARY 15, 2024

The demands of the modern bar are significant: inventory issues, demanding customers, volatile prices, and — perhaps the biggest of all — staffing, scheduling, and other labor concerns. Bar management software is a tech-forward way to handle many of the elements necessary to operate a bar successfully.

Inventory 195

Inventory Bar Management Management 195

Modern Restaurant Management

JULY 16, 2024

To gain perspective on current deal activity in the restaurant sector, Modern Restaurant Management (MRM) magazine reached out to Nixon Peabody Corporate Transactions associates Robert Pethick and Anthony Bova. Although consumers are generally wary of higher prices, eating out has proven to be resilient.

2024 110

2024 Cash Management Beverage Entertainment 110

Modern Restaurant Management

DECEMBER 19, 2023

However, high-interest rates are pushing some prospective buyers out of the market who can’t pay with cash. QSRs are lower rent, with lower labor costs, and most importantly are easier to manage for potential owners new to the industry. The restaurant industry is back to normal.

Marketing 100

Marketing Cash Management 2024 2023 100