Remove Document Remove Inventory Remove License
article thumbnail

The Ultimate Guide to Restaurant Costs

7 Shifts

For example, though food costs are running costs, you should budget for beginning inventory when opening your restaurant Many of your startup costs will be one-off costs, though some are subject to annual renewals Restaurant Expenses Vs. Restaurant Costs One often confused (and misused) sets of terms are restaurant costs and restaurant expenses.

License 370
article thumbnail

How to Conduct a Successful Restaurant Audit

Modern Restaurant Management

Inventory Management If you don’t have a proper inventory management system in place, you could be wasting a lot of time and money. Proper inventory management is key. Permits and Documentation Every restaurant is required to display various sorts of permits and documentation. Are you up-to-date?

Audits 282
Insiders

Sign Up for our Newsletter

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

article thumbnail

Owning a Bar: Everything You Need to Know

7 Shifts

This document will outline your bar's concept, menu, marketing strategy, and financial projections. Sorting Out Paperwork and Licensing Below is a breakdown of the licenses and documentation you'll need: Business license : The cost of registering your business will vary by state and includes a registration and filing fee.

Bar 370
article thumbnail

How to Open a Coffee Shop: The Ultimate Guide

7 Shifts

Obtain Permits and Licenses. View your lean plan as an ever-evolving document you can revisit, and revise, as new information surfaces. Once you've validated your idea, you can dive into the nitty-gritty: Obtain Permits and Licenses. Business License. Liquor License. Table of Contents. Coffee Shop Concepts.

License 459
article thumbnail

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

7 Shifts

From choosing a concept and securing the necessary documentation to hosting your grand opening, we've outlined the complete process of opening a bar. 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?

Bar 221
article thumbnail

How to Write a Restaurant Business Plan 

ChowNow

Suppliers and inventory : List the primary suppliers you plan on working with and share information about how you will manage the restaurant’s inventory. Use this section of your business plan as an opportunity to iItemize your initial expenses, including equipment, renovations, licenses and initial inventory that will be needed.

article thumbnail

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

7 Shifts

A full-service restaurant with liquor licenses and a well-trained staff may be more valuable than a small café Buyers might also be interested in niche concepts that stand out in the market, while generic concepts may fetch lower prices. These documents provide insight into how well your restaurant has performed financially.

2024 195