Remove Cash Management Remove Restaurant Law Remove Take-out Remove Website Management
article thumbnail

The Complete Checklist For Selling Your Restaurant In 2024: Pre-Sale, Sale & Post-Sale

7 Shifts

Selling a restaurant can be a major decision for many reasons. One of the main reasons is to cut losses due to financial challenges, with 52% of restaurant owners saying high operating and food costs are really cutting into their profits. If restaurants in your area sell at a multiple of 2.5

2024 195
article thumbnail

How to Open a Bar: Comprehensive Guide on Starting a Bar

7 Shifts

Since your main focus would be selling alcohol to your customers, you need to take a few extra steps. However, note that bar profit margins vary due to various factors like tax rates, licensing laws, customer demographics, and the cost of living in your area. How profitable is a bar? These regulations vary from city to city.

Bar 221
Insiders

Sign Up for our Newsletter

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

Trending Sources

article thumbnail

Checklist For Reopening Your Restaurant

Modern Restaurant Management

Even though the COVID-19 pandemic persists across the globe, governments have started easing lockdown restrictions and allowing restaurants to reopen finally. High-end restaurants that tend to have a pricier menu should look to add more affordable items. Rid yourself of the non-essentials, get back to the basics, and work smart.

article thumbnail

Why Truth in Advertising Matters

Indoor Media

If a customer sees an ad that suggests your business has a special “half-off all food during happy hour” deal, and then they come to your restaurant and find that the deal only applies to french fries…they’re not going to be too happy, and they probably won’t come back to your business. The same goes for any business, any product.

article thumbnail

Turning the Corner: How to Manage a Restaurant (As a Restaurant Owner)

SpotOn

Find mindful advice on all aspects of the restaurant business — the good, the bad, and the expletive-inducing, from someone who has been there before. I got into the restaurant industry because I wanted to throw a party every night, and I thought I could make a lot of money doing it. First, create a clear job description.

article thumbnail

How to Open a Bar – 6 Expert Tips to Starting Your Own Bar

Harbor Touch

Additionally, each state, county, and city has different laws and regulations regarding alcohol sales. On the contrary, if the area already has restaurants and cafes, it’s an excellent opportunity to open a bar since you won’t have too much competition. Of course, planning your business venture is a huge and complex task.

Bar 78
article thumbnail

What Now? COVID-19 Survival Guide for Restaurants

Modern Restaurant Management

Due to the Covid-19 outbreak effect on the restaurant industry, Modern Restaurant Management (MRM) magazine is compiling a list of resources available for restaurant owners, operators and managers. The National Restaurant Association has provided a list of best practices to ensure business continuity.