Restaurant365

MAY 26, 2020

If your restaurant is emerging from survival mode to a break-even point or even slight profitability, it is important to reevaluate and tune up the largest expense for your restaurant: your restaurant prime cost. Restaurant prime cost overview. Prime Cost Formula Review. CoGS (Cost of Goods Sold).

Point of Sale 148

Point of Sale Employee Relations Inventory Waste 148

Restaurant365

NOVEMBER 18, 2021

From hiring and onboarding to running employee payments and paying taxes, payroll touches on many different parts of a restaurant business. You receive time in your Point of Sale (POS) system. Tracking labor and payroll data for restaurant employees. However, tracking your labor cost is a bit more complicated.

Employee Relations 148

Employee Relations Cash Management Point of Sale Front of House 148

SpotOn

MARCH 25, 2024

Licenses and permits  Every restaurant business has a lengthy list of licenses and insurance needed to open, serve your guests, and protect your business. This could include a business license, food service license, building and employee health permits, a music license , and a liquor license.  Let's get into it.

License 52

License Insurance Point of Sale Equipment 52

7 Shifts

FEBRUARY 26, 2021

Here are the things you should consider: Things to Consider When Choosing an Online Ordering Platform Does it integrate with my Point of Sale (POS) Will I need to add another tablet to my front of house setup? Look to your restaurant’s website provider or your point-of-sale vendor first to see if there is an integration.

Online Ordering 341

Online Ordering Ordering Customer Service Food Order 341

ChowNow

AUGUST 19, 2024

There are multiple sources for inflow and outflow, including: Cash Inflow: Sales Revenue Catering Services Business Loans Cash Outflow: Employee Payroll Inventory Costs Rent & Utilities Your total cash flow is the inflow minus the outflow: Total Cash Flow = Cash Inflow – Cash Outflow Obviously, you want to make more money than you spend.

Cash Management 78

Cash Management Management Management Inventory 78

Restaurant365

AUGUST 19, 2021

Your overall profit margin depends on your sales relative to expenses. And while it is critical to focus on increasing your sales, one of the most important parts of accounting basics is starting with accurate recording of your expenses. Labor costs (employee wages, payroll taxes, employee benefits, etc.).

Inventory 147

Inventory Management Management Employee Relations 147

Modern Restaurant Management

NOVEMBER 2, 2023

Having written over 300 articles for national trade magazines, I am often asked about industry-related topics. Having written over 300 articles for national trade magazines, I am often asked about industry-related topics. Shaw's “ Who Watches the Kitchen ?” As a writer, I have always dreamt of penning my own book.

Kitchen Safety 189

Kitchen Safety Food Safety Allergens Employee Relations 189

Hot Schedules

MARCH 29, 2021

For only a short span of time, he now has the experience and the expertise to point out his personal learnings along the way of progressing as a Product Owner. T here are many interpretations and different materials about the responsibilities of Product Owners in software companies. With time I started feeling more confident in my new role.

Technology 148

Technology Insurance Healthcare Employee Relations 148

Restaurant365

APRIL 19, 2022

How to manage labor cost is a challenge that all restaurant operators face daily as many restaurant businesses are forced to offer more competitive wages, benefits to hourly employees and other concessions to attract more employees from the shrinking applicant pool. What is a good labor cost percentage?

Point of Sale 78

Point of Sale FOH Front of House Back of House 78

Restaurant365

OCTOBER 22, 2021

There are many restaurant data points that can help you see beyond the buzz of the day-to-day of a restaurant and get a glimpse at the health of your business. For any specific period, you can calculate your total labor cost with the following formula: Employee Wages + Payroll Taxes + Benefits + Insurance = Total Labor Cost.

Point of Sale 78

Point of Sale Insurance Inventory Cash Management 78

BNG Point of Sale

SEPTEMBER 2, 2021

This blog post will go over the typical restaurant overhead costs and expenses, including rent, utilities, labor wages for employees, licenses and permits, food cost percentages, and more. Operating expenses, which are not related to production, are overhead costs. Typical Restaurant Overhead Costs and Expenses .

Employee Relations 52

Employee Relations License Point of Sale Food Supply 52

Restaurant365

DECEMBER 17, 2019

Instead, gradual sales growth will help your business gain traction and develop a solid foundation. Recurring restaurant costs would include costs like lease or mortgage payments, employee salaries, food and beverage costs, utilities, insurance and permits. Costs of Opening and Running a Restaurant. Restaurant Food Costs.

Point of Sale 120

Point of Sale License Insurance Online Ordering 120

Modern Restaurant Management

MARCH 24, 2021

Two key factors are driving the problem for restaurateurs: the first is the fact that delivery has become more than just another sales channel. The point isn’t just to keep a higher percentage but also to curtail operational expenses. And that’s a “necessary evil” for accessing each one’s loyal customers.

Delivery 189

Delivery Customer Service Point of Sale Customer Experience 189

Restaurant365

SEPTEMBER 23, 2021

For instance, since restaurants primarily sell food and drink, inventory turns over at a very frequent rate, and sales are made up of a high number of transactions. Between inventory, sales, and other data points like labor, restaurants generate an enormous amount of data. What specific issues do restaurants face in accounting?

Cash Management 147

Cash Management Point of Sale POS Inventory 147

The Restaurant Times

DECEMBER 22, 2021

With diners flocking back to restaurants in the new normal, several restaurants have had to expand their capacity and hire new employees. It is home to an eclectic mix of people and might be a good starting point for your business. New York, a city that never sleeps, is a key metropolis of the USA. But what next? Secure Funding.

Insurance 52

Insurance License Point of Sale Employee Relations 52

Open for Business

FEBRUARY 29, 2024

Information in this article is presented “as-is” and may not constitute the most up-to-date information. All liability with respect to actions taken or not taken based on the contents of this article is hereby expressly disclaimed.

License 78

License Certification Kitchen Safety Food Safety 78

Restaurant365

AUGUST 19, 2020

For food service and hospitality in particular, an essential part of the guest experience is the interaction with employees. In addition, in the age of social media, your labor practices and HR policies are under closer scrutiny than ever by both your employees and the public. Design an employee onboarding process.

Restaurant Law 131

Restaurant Law Recruiting Employee Relations Food Safety 131

Harbor Touch

APRIL 17, 2018

Sales Tax Requirements. The city and state where you operate your restaurant could have different sales tax requirements, and if you own multiple locations, it is even more important to be up to date on the different requirements. If employees receive benefits and compensation, they must be provided for work that employees perform.

Employee Relations 97

Employee Relations Insurance Point of Sale Cash Management 97

The Restaurant Group

SEPTEMBER 16, 2020

million employees (as of 2019), both of which have been especially hard hit by the necessary restrictions. This 2020 restaurant trend is likely related to a few things – a shift to working from home, a preference for foods that have not been prepared or touched by someone else, and wider availability of grocery delivery services.

Online Ordering 148

Online Ordering Delivery Point of Sale Customer Service 148

Restaurant365

OCTOBER 23, 2019

While many restaurant owners focus on increasing total sales, in order to add to your bottom line, you also need to focus on decreasing costs. COGS totaled takes into account the ingredients that make up your food andbeverage sales, and related supplies (like napkins or coffee filters). Example of a Prime Cost Formula.

Point of Sale 74

Point of Sale Inventory Employee Relations Insurance 74

BNG Point of Sale

SEPTEMBER 7, 2021

Sales per square foot are one option. To calculate sales per square foot, divide annual sales by total interior square footage including kitchen, dining, and storage space to get a net rentable foot in the leased location. . Licenses, permits, and insurance are also needed. . Bar Revenue per Square Foot .

Bar 52

Bar Point of Sale Retail 2013 52

Restaurant365

JUNE 17, 2020

Your payroll is the process of calculating and distributing wages to your employees. The restaurant industry faces a lot of industry-specific regulations on payroll, with laws regulating hourly employee scheduling and tipped wage workers, as well as compliance with the Affordable Care Act regarding seasonal and variable hour employees.

Tip Distribution 78

Tip Distribution Point of Sale Employee Relations Restaurant Law 78

Modern Restaurant Management

AUGUST 16, 2021

This edition of MRM Research Roundup features the latest facts and figures of restaurant operations, the state of business dining, and the mid-year gift card report. The State of the Restaurant Industry. foodservice industry. Quick service restaurants (QSRs), representing 81 percent of restaurant visits in the U.S., “The U.S.

2021 180

2021 Guest Recovery 2019 Point of Sale 180

BNG Point of Sale

AUGUST 27, 2021

Therefore, you must learn how to develop a more resilient restaurant business just like the other types of restaurants who are finding new ways to ensure decreasing costs and an increase in sales. . For example, let’s say John Doe Bar’s total sales from July to September 2020 were $1.25 Average Gross Profit for Restaurants .

Point of Sale 52

Point of Sale Customer Service Social Media Online Ordering 52

Lavu

NOVEMBER 8, 2019

Every foodservice operator has three fixed expenses: Restaurant Labor—The cost of all employees on the payroll in management, FOH, and BOH. Occupancy Expenses—These are the costs of existing in a brick and mortar location ( or food truck ), including rent, property taxes, and insurance. 5 Concepts of Restaurant Accounting.

Management 101

Management Management Food Truck Cash Management 101

The Restaurant Times

JANUARY 11, 2023

According to National Restaurant Association statistics, the US boasts of around one million restaurant locations with nearly 15 million working employees, all set to generate sales worth $898 billion in 2022. . Here is a list of all the broad requirements that you need to consider. Arm’s Length Investment. Other Requirements.

License 52

License Restaurant Law Point of Sale Employee Relations 52

Bingage

JANUARY 15, 2020

Related Read: Different Types of Restaurant Establishments. The point of understanding is, becoming a restaurateur involves uncountable responsibilities to perform. b) Read restaurant topic related books, successful restroprenuer interviews. Owning a Restaurant is quite challenging but at the same time, it’s a rewarding role.

Food Truck 96

Food Truck Employee Relations Email Marketing Point of Sale 96

Restaurant365

AUGUST 21, 2020

For food service and hospitality in particular, an essential part of the guest experience is the interaction with employees. In addition, in the age of social media, your labor practices and HR policies are under closer scrutiny than ever by both your employees and the public. Design an employee onboarding process.

Blog 78

Blog Restaurant Law Recruiting Employee Relations 78

The Restaurant Times

AUGUST 5, 2022

Keeping track of your numbers and Key Performance Indicators (KPIs) will not only help you in taking timely action but also point out specific areas that need immediate improvement. Even though the number of sales your restaurant makes is crucial for its success, your expenses relative to those sales determine the actual profits.

Cash Management 52

Cash Management Point of Sale Inventory Employee Relations 52

Apicbase

JUNE 16, 2023

Whether you’re looking to improve customer satisfaction, increase sales, or reduce costs, tracking these metrics will bring clarity to your restaurants’ performance and help you achieve your goals. In practice, however, successfully managing a group of busy restaurants is an awfully tough undertaking. Why Are Metrics Important?

Point of Sale 52

Point of Sale Inventory Waste Employee Relations 52

Lavu

DECEMBER 20, 2019

employees are AR/AP clerks (or specialists) and they handle both ends. In some cases, employers may combine related tasks. Traits of a Top Accounts Payable Employee. After a search for accounts payable jobs, you’re left wondering exactly what the job is. After all, a basic description of. Rest assured: your search is over.

2020 78

2020 Insurance Education Employee Relations 78

Restaurant365

MAY 14, 2021

With P&L data in hand, you can create better budgets, make decisions about labor or food, or spot big trends in your sales. Your restaurant’s chart of accounts lists all the important financial information related to the business. Your profitability isn’t based on your sales alone. Chart of Accounts.

Management 78

Management Management Point of Sale Inventory 78

Lavu

JANUARY 21, 2020

Someone who understands specific restaurant accounting features like a chart of accounts, COGS, prime costs, daily sales, and more. . Preparing good meals and serving customers is always an exciting part of running a restaurant. When it comes to numbers, however, most restaurant owners do not know what is expected of them.

Point of Sale 78

Point of Sale Inventory Restaurant Law Front of House 78

Restaurant365

OCTOBER 14, 2020

Inaccurate numbers can, at best, point you in the wrong direction, and at worst, lead to unsound financial decisions. When creating a restaurant budget, there are four main areas to consider: Track Your Restaurant Sales. Your restaurant sales, or income, are one of the biggest factors in your budget. Collect data.

Point of Sale 78

Point of Sale Email Marketing Cash Management Advertising 78

The Restaurant Times

MAY 31, 2021

Still, if the location is not accessible to the target audience, it can hinder your sales and affect growth. . However, setting up the business in a posh and expensive location right at the start might affect cash flow and take you longer to reach the break-even point. . Competition.

Point of Sale 69

Point of Sale Cash Management Customer Service Employee Relations 69

Margin Edge

APRIL 16, 2020

In short order, we hope to have three additional posts covering the impacts of unemployment insurance on the PPP, creative and high impact ways to deploy your PPP funds, and the specifics around documentation as you begin to think about reimbursement. You can restore your full workforce at any point before June 30th.

Employee Relations 98

Employee Relations Government Point of Sale 2020 98

Modern Restaurant Management

MARCH 11, 2020

We would like to thank Derek Jones and all of the employees at Smart Foodservice for their dedication in building a highly differentiated business in the cash and carry industry, and we know the company will be in great hands with its new owners.” US Foods to Acquire Smart Foodservice. reducing to approximately 3.0x

Bar 154

Bar Cash Management Loyalty Program Point of Sale 154