Remove Cash Management Remove Reference Remove Seasonal Menu
article thumbnail

Ready To Sell? Maybe You Should Be

Modern Restaurant Management

Sure, we all keep our excitement levels high when we first open, but over time, seasonality, employee issues, and the realization that weekends and evenings will never be yours start to chip away at that excitement. By then, he had a well-oiled, cash-flowing operation that he could sell at a premium. This business is mentally draining.

article thumbnail

Tips to Overcome Your Restaurant’s Cash Flow Crisis

Modern Restaurant Management

According to a study, 82 percent of small businesses fail due to cash flow problems. A cash flow shortage occurs when more money is flowing out of the business than is flowing into it. During a cash flow shortage, you might not have enough capital to cover your payroll or other operating expenses.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

10 Proven Restaurant Management Tips and Tricks for Success

Harbor Touch

Their stories inspire these 10 proven restaurant management tips and tricks for success. Whether youre a seasoned owner or just starting out, this advice will help you boost efficiency, keep your team motivated, and turn customers into regulars. Staff Management 1. Check references carefully and run quick trials.

article thumbnail

Seven Restaurant Trends That Will Define 2022

Modern Restaurant Management

This instability will push operators to trim costs by shortening menus and investing in labor-saving technology to free up cash for wage increases. Restaurants will also explore delivery options beyond costly third-party partnerships, and hike delivery menu prices to make the channel more lucrative as off-premise demand holds steady.

2022 548
article thumbnail

Restaurant Accounting: A Comprehensive Guide

7 Shifts

By tracking metrics like customer retention and employee turnover rate, contribution margin, and menu item profitability, restaurant managers can identify each area’s strengths and what areas need improvement. Use this data to establish clear and specific goals and adjust your strategies as needed.

article thumbnail

Ingredient Cost Tracking for Restaurants

Lavu

Proper cost tracking helps you set profitable menu prices, cut expenses, and manage inventory efficiently. Steps to calculate costs : Determine unit costs, account for waste, and break down menu item costs. Improve profits : Analyze cost data to refine menu design, negotiate better supplier deals, and reduce waste.

article thumbnail

Restaurant Business Trends to Follow in 2021

Goliath Consulting

This flexibility will key as the cold season approaches (6). A big part of the trend of automation for customers will revolve around new payment and menu alternatives. 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