Harbor Touch

MARCH 18, 2025

Equipment and Furniture: Deduct That Big Spend New ovens or tables can cost a chunk, often $5,000 or more. Accounting Tip: Log equipment purchases in your accounting software under equipment. Ive tossed meals into inventory totals and shaved taxes that way. Staff pay: salaries, insurance, bonuses. You can too.

Point of Sale 138

Point of Sale POS Restaurant Law 2025 138

Modern Restaurant Management

MARCH 24, 2021

Even restaurants with preexisting in-house delivery may not have been equipped to handle the increase in order volume that came along with the pandemic. Vehicles, drivers, fuel costs, insurance, payment methods, dedicated prep staff, packaging, storage, tracking, and communication all present challenges. Co-created with Burma Inc.,

Delivery 473

Delivery Customer Service Point of Sale Customer Experience 473

7 Shifts

AUGUST 7, 2024

But there's more to it than adding up your inventory bill and comparing it to your sales. Food cost percentage is the ratio of the cost of food inventory to the amount of revenue it generates. The other, more accurate way is to take all of the elements that go into making a dish to determine the total value of your inventory.

Food 370

Food Seasonal Menu Inventory Pricing 370

7 Shifts

JUNE 4, 2021

Inventory turnover ratio. Your CoGSs is an essential number to have when determining your menu prices, inventory and impacts your net profit margin. To calculate your COGs, you need the following numbers: Beginning Inventory, or the value of the inventory you start with. Ending inventory , or what you have leftover.

Point of Sale 416

Point of Sale Inventory Employee Relations Customer Service 416

Restaurant365

AUGUST 19, 2021

Restaurant accounting covers all areas of your business, even inventory. While you may think of your restaurant inventory as part of operations, restaurant inventory management should also be considered an accounting function. So, inventory has an important place in your restaurant accounting.

Inventory 147

Inventory Management Management Employee Relations 147

7 Shifts

JULY 21, 2020

Healthcare costs: group healthcare benefits, insurance premiums, etc. Whether your restaurant needs to finance payroll, inventory, or a new electric skillet, these loans can make it happen in a jiffy. You can use your business line of credit to finance just about anything: payroll, rent, equipment, inventory, and more.

Cash Management 300

Cash Management Government Small Business Healthcare 300

ChowNow

AUGUST 6, 2024

From ingredients to insurance, new restaurants need to know how to manage fixed and variable costs. Fixed costs generally stay the same each month and are not tied to sales, such as rent or insurance. Over the year, they purchased $400,000 worth of food and ended the year with $80,000 worth of inventory. Track inventory.

Insurance 195

Insurance Inventory Food Supply Food Order 195

7 Shifts

JULY 5, 2024

With 50% of restaurant owners reporting inventory costs as the top concern last year, you must leverage reporting tools to see how much profit your restaurant is making and where your money is going. With labor-saving equipment, like automated dishwashers, you can reduce the need for additional staff during peak hours.

Cash Management 243

Cash Management Inventory Seasonal Menu Beverage 243

7 Shifts

AUGUST 18, 2024

Equipment : What equipment will you need? Sourcing the Right Equipment Your budget, target market, and concept will dictate your equipment needs. The size of the space is important, as you'll need enough room for customers and all of your bar's equipment. Your team : Who do you need to make this work?

Bar 370

Bar License Email Marketing Customer Service 370

Modern Restaurant Management

DECEMBER 16, 2021

This is why next year, operators will offer more benefits like hiring incentives, higher hourly wages, health insurance, paid time off, earned wage access (EWA) and more to not only hire fresh labor, but retain top talent. It isn’t unemployment benefits giving employees pause: it’s underappreciation.

2022 473

2022 Hospitality Loyalty Program Point of Sale 473

7 Shifts

JUNE 28, 2021

The difference here lies in the extra steps to remove germs and grease from surfaces and equipment. Sanitize all cutting boards , utensils, and kitchen equipment after they are exposed to raw meat. Label stored food with their use-by dates and follow a first-in, first-out inventory method (FIFO Method–learn other restaurant lingo ).

Kitchen Safety 370

Kitchen Safety Food Safety Food Supply Equipment 370

SpotOn

FEBRUARY 26, 2025

Your P&L line items should be consistent with the ones on different platforms—POS, inventory management, and accounting software. Health insurance, retirement plans (401(k)), paid time off (PTO) (vacation, sick leave, holiday pay), workers compensation, and meal discounts Training and onboarding. Equipment leases.

Point of Sale 82

Point of Sale License Insurance POS 82

EATER

AUGUST 7, 2023

Three Penny Taproom also has flood insurance. Kerner expects it will bring in about $95,000 and cover refrigeration and other equipment that needs to be replaced, now that the water has receded. Time will tell, with insurance and the rebuild, what we do with that space,” he says. Not every flooded restaurant in Vermont will.

Insurance 246

Insurance 2011 Equipment 2007 246

7 Shifts

MAY 1, 2024

This is one of your core restaurant management responsibilities, especially because you handle lots of inventory in and out of your kitchen daily, including the ingredients you use to prepare your menu. One way to reconcile your accounts is by comparing your physical inventory with your inventory records.

Cash Management 221

Cash Management Inventory Employee Relations Beverage 221

Modern Restaurant Management

JANUARY 31, 2025

Two-thirds of restaurant leaders believe AI or automation will improve their business in each of the 15 areas we asked about, the most popular of which are marketing and promotions (77 percent), inventory management (77 percent), payments (76 percent), menu optimization (76 percent), and staff management (75 percent).

Marketing 221

Marketing Loyalty Program 2025 2024 221

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 195

Cash Management Management Management Inventory 195

Modern Restaurant Management

DECEMBER 31, 2024

With alcohol sales shrinking, restaurants must reevaluate their offerings, menus, and inventory management to maintain profitability. AI: The Invisible Tool to Boost Profitability As resources tighten, more restaurants will turn to AI to do more with less.

Franchising 221

Franchising Franchise 2024 Mobile Ordering 221

7 Shifts

SEPTEMBER 16, 2024

Asset-Based Valuation In some cases, the value of your restaurant’s assets, like equipment, furniture, and leasehold improvements, might be the best way to determine its value. For example, if your restaurant's equipment and fixtures are worth $50,000, that would become the base value for the sale.

2024 195

2024 Document Point of Sale Cash Management 195

Restaurant365

JANUARY 5, 2021

The Act also redefines payroll costs to specifically include group insurance payments made on group life, disability, vision and dental insurance. payment for software and cloud services), perishable goods, and worker protective equipment. This would cover insurance plans such as vision, dental, disability and life insurance.

Insurance 148

Insurance Small Business Employee Relations 2021 148

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

Restaurant365

DECEMBER 17, 2019

Recurring restaurant costs would include costs like lease or mortgage payments, employee salaries, food and beverage costs, utilities, insurance and permits. Fixed costs such as insurance, rent, and loan payments do not fluctuate month to month. This includes everything from napkins to kitchen equipment, as well as licensing costs.

Point of Sale 120

Point of Sale License Insurance Employee Relations 120

Society Insurance

NOVEMBER 15, 2022

Taking inventory and reporting low-stock items to the chef or manager. Additionally, follow a regular cleaning schedule so all cooking utensils and equipment are clean and well-maintained. The post How a Restaurant Closing Checklist Benefits Your Business appeared first on Society Insurance. Updating food labels.

Front of House 97

Front of House Food Safety Cash Management Back of House 97

Modern Restaurant Management

AUGUST 5, 2020

In recent months, they have been advising clients on issues ranging from Paycheck Protection Program (PPP) loans to reducing and rehiring employees to recovering losses from insurance companies and renegotiating leases. Selvin (insurance and business interruption) and Elliot N. Other members of the new practice include: Randy S.

Food Safety 527

Food Safety Mobile Ordering Online Ordering Kitchen Safety 527

The Restaurant Times

SEPTEMBER 19, 2021

Time has never been better to open your food truck, and the most critical business step is investing in insurance. However, if you don’t have the correct insurance, your food truck might cost you thousands of dollars or perhaps your business in jeopardy in time of a mishap. . Food Truck Insurance Cost . Kind of Insurance.

Food Truck 52

Food Truck Insurance Food Transportation 52

7 Shifts

MAY 23, 2024

Your restaurant expenses may vary depending on various factors, such as the equipment you use, your business location, the size of your operation, and whether you own or rent your commercial space. Your fixed costs, for instance, stay almost the same monthly and yearly, like your insurance and rent/lease payments.

Point of Sale 221

Point of Sale Seasonal Menu Food Supply Cash Management 221

The Rail

NOVEMBER 29, 2023

There will be electrical and sound equipment needs that will need to be ironed out, whether you have live performers or a DJ. Cost considerations are especially important if the entertainment you are considering requires an investment in equipment or modification of your existing venue.

Entertainment 147

Entertainment Bar Equipment Sports 147

Restaurant365

JULY 24, 2020

Restaurant365 customer Wow Bao recently announced it has partnered with operators in various cities to offer alternative sources of revenue by utilizing their space, equipment and personnel to serve prepared Wow Bao staples, while third-party delivery providers provide delivery of the meals to customers. Another con is the cost of delivery.

Front of House 147

Front of House Online Ordering Kitchen Safety Customer Service 147

Restaurant365

APRIL 1, 2020

For a restaurant, your operating cash flow expenses include everything you need to be in business, such as the cost of your food and drink inventory, payroll, utilities, insurance, and rent, as well as expenses like interest on a loan or payments on equipment. Calculation example.

Cash Management 128

Cash Management Management Management Point of Sale 128

The Restaurant Times

JUNE 17, 2021

When opening a new restaurant, bakery, or cafe, one of the first things that pops up in one’s mind is buying kitchen equipment. This is where used kitchen equipment comes into the picture. Labor costs, rental costs, and inventory costs constitute the major part of the investment. Pros Of Buying Used Kitchen Equipment.

Equipment 52

Equipment Recycling Insurance Sourcing 52

The Food Corridor

SEPTEMBER 14, 2020

The way to mitigate the risk is to take out a robust insurance policy. However, anyone who’s dealt with an insurance broker probably knows how painful this experience can be. An insurance company’s job is to calculate risk and figure out how much to charge you based on the risk level of your business.

Insurance 52

Insurance Food Truck Food Catering 52

Sling

JUNE 9, 2023

The term “restaurant costs” is generally used to describe one-time expenditures on material resources — such as food, liquor, dishes, equipment, and software — that keep the business running. This will be your Beginning Inventory. Step Three : Add the value of any Purchased Inventory you made during the period of choice.

Operations 78

Operations Inventory Food Supply Point of Sale 78

The Restaurant Group

MARCH 11, 2024

But restaurant finances are notoriously complex, with so many types of expenses to manage: Dining and kitchen supplies Commercial real estate Utilities Maintenance Insurance Marketing Payroll And more Restaurant budgeting can be head-scratching and very time-consuming. Every restaurant must aim to spend low and earn high.

Management 78

Management Management Cash Management Insurance 78

The Restaurant Times

JANUARY 23, 2022

There can be companies that cater to larger groups, or if you are starting out, you can start small for a party of 20 or 50 people depending on the experience, equipment, and capital you have. Buying Equipment And Sourcing Your Raw Material. These are some of the equipment that you will need to invest in to get started – .

Catering 75

Catering License Insurance Food Supply 75

Xtra Chef

APRIL 13, 2020

Commissaries allow food business owners to benefit from a collaborative space in a number of ways, from having access to shared equipment to benefiting from economies of scale and splitting shared costs. You don’t have the outlay on equipment, fridges, storage space, and all the other overheads associated with running your own kitchen.

Food Truck 78

Food Truck Kitchen Safety License Insurance 78

7 Shifts

JULY 1, 2024

These start-up costs can range from the real estate payments you must make to the permits and licenses you need, the supplies you have to buy for your bar, the wages you need to pay your employees, and insurance. You should also take consistent liquor inventory to understand how your bar is performing and what brands your customers prefer.

Bar 221

Bar License Food Supply Restaurant Law 221

Modern Restaurant Management

JUNE 12, 2020

. “The most beneficial feature is that the whole system is cloud-based, which means our franchisees and corporate development team can access data from anywhere, allowing us to oversee and troubleshoot inventory, employee management, sales reporting and much more.”

Franchising 420

Franchising Franchise Food Safety Kitchen Safety 420

Modern Restaurant Management

JUNE 28, 2024

Enhancing Operations and Customer Experience : The top benefits of AI in restaurants include effective staff scheduling (38 percent), increased sales and revenue (37 percent), personalized marketing and promotions (36 percent), and efficient inventory management (34 percent). car finance, fuel, insurance, etc.) (22

2024 294

2024 Mobile Ordering White Paper Customer Service 294