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How Restaurants Can Plan For The Next Hospitality Crisis

Modern Restaurant Management

Some of the biggest risks that you’re likely to face as a restaurant owner include: Foodborne illnesses: food poisoning, contaminated water, and cross-contamination of cooking ingredients. For example, there should be someone who handles communication, supply chain issues, financial forecasting, etc.

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How to Read a Restaurant P&L (Profit and Loss) Statement + Free Template

SpotOn

That could simply be food sales , alcohol , and non-alcoholic beverages. Cost of Goods Sold (COGS) Your Cost of Goods Sold is the cost of your food and beverages. That way you'll have accurate food and beverage cost percentages for each COGS line item. Those sales line items should match the ones in your POS reporting.

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ChowNow’s Guide to Restaurant Expenses & Cost-Saving Tips

ChowNow

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. Food Cost Percentage Your food cost percentage uses a similar formula as labor, just with total cost of goods sold.

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Restaurant Budgeting: How to Create A Restaurant Budget

7 Shifts

This includes: Net Sales: The total revenue derived from your sale of food and beverages. However, as a rule, the primary costs you can expect in running your restaurant are usually related to food, labor, and rent. Conclusion Frequently Asked Questions (FAQs) What is included in a restaurant budget?

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

7 Shifts

While this could be a rewarding venture, opening a bar is not exactly the same as opening a food business. Your business name will also appear on your marketing materials, staff uniforms, menu, social media accounts, and advertisements, so make sure it isn't too long or complicated.

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In Uncertain Times, Food Liability Insurance Helps you Prepare for the Worst

The Food Corridor

For foodservice vendors, food truck operators, manufacturers, market traders, chefs, and caterers who use shared-kitchen facilities, there’s a constant nagging worry that something will go wrong. The way to mitigate the risk is to take out a robust insurance policy. In a year like 2020, you never know what’s around the corner.

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How To Start A Catering Business In The USA

The Restaurant Times

The catering industry includes companies that provide individual event-based food services. What type of food will you serve? Rent a commercial kitchen: This increases your operating costs and will require transportation facilities and equipment to deliver food to the location. What functions will your business cater to?