Restaurant Cash Flow Tips To Ensure Financial Stability

During this episode of The Tip Share, RASI Director of Client Advisory Services, Brian McCaig, and Education & Training Manager, Brittany Ward dive into the Cash Flow Statement and discuss why and how, if used properly, it can be an incredibly valuable tool for your business. Restaurant owners and operators have become so accustomed to […]

How to Start a Restaurant: Ultimate Financial Plan

HOW TO START A RESTAURANT? PLAN. You want to start a restaurant and you create the ideal concept in your head. That concept begins with the idea at its inception; however, for your idea to survive, or even better to thrive, it must operate on a consistently executed financial plan for a restaurant. There’s a […]

6 Ways To Build Better Budgeting Strategies For Summertime Success

You’ve made your budget for 2021, but Q1 is over and now it’s time to adjust and tweak as you’ve seen your results. Summer is nearing and encouraging news is hitting the nation with Covid vaccines in arms, re-openings, and there’s so much positivity to draw on moving forward. With the ice slowly melting and patios regaining the spotlight, restaurants know that the extra square footage means extra sales.

This week on The Tip Share, RASI New Business Strategist, Dave Downs, sits down with RASI Squad Lead, Sondra Monaco, and RASI Client Advisor, Adam Walsh to chat about what they’ve seen when working with clients across the nation as they work down the P&L to adjust budgeting and forecasting to meet the new demands that come with summertime!

Best Practices To Close Out Tips & House Bank For A Favorable Period End

Successfully closing out a period can start the domino effect for proactively operating a restaurant versus missed opportunities for the following periods. The purpose of the Period End Financial Close is to verify accuracy so you can understand where your money is going in order to make quicker, more educated business decisions. When Closing out the period, it should start with a review of the financial statements; The Profit & Loss Statement, The Balance Sheet, and The Cash Flow Statement. Within each statement, there are even more defined areas of focus that should pop out to an operator as a must-watch for success. In this episode of The Tip Share, RASI Director of Education, Brittany Ward discusses two key accounts to concentrate on when conducting a Period End Financial Close: Credit Card Tips Payable and House Bank.

This week on The Tip Share, RASI New Business Strategist, Dave Downs, sits down with RASI Squad Lead, Sondra Monaco, and RASI Client Advisor, Adam Walsh to chat about what they’ve seen when working with clients across the nation as they work down the P&L to adjust budgeting and forecasting to meet the new demands that come with summertime!

Sustainability & The Restaurant Industry – What Can You Do To Help?

Restaurant owners can have a major world impact and start the snowball effect of others going green – for the future of our planet, our kids, and ultimately our corporate social responsibility as an industry, and here’s what that looks like.

This week on The Tip Share, RASI New Business Strategist, Dave Downs, sits down with RASI Squad Lead, Sondra Monaco, and RASI Client Advisor, Adam Walsh to chat about what they’ve seen when working with clients across the nation as they work down the P&L to adjust budgeting and forecasting to meet the new demands that come with summertime!

How Restaurant Purchasing Behavior Is Changing

Coronavirus has affected the entire world; it has completely altered the landscape of both consumer and vendor behaviors, and perhaps the most harshly impacted industry has been hospitality. Restaurants have had to pivot their business models catering to mainly delivery and takeout options which directly affects their menu offerings and spending habits in order to preserve as much margin as they can during a time when point-blank, sales are down.

Easy Tips: How To Read A Restaurant Profit and Loss Statement (P&L)

It’s critical for the financial health of all restaurants that those who are making scheduling decisions, buying decisions, etc. fully comprehend how to read an income statement and can utilize the knowledge behind what actually goes into the P&L. Learn how to unravel the mystery and gain maximum profitability with a weekly P&L!

How To Pivot Your Restaurant To Find Success During Covid

Chefs, Owners, and Restaurant Operators have taken to a careful mix of creativity and industry expertise in order to find the perfect blend of ingredients for success throughout the Covid Crisis. Learn how Esters Neighborhood Pub has taken the steps to pivot its business model in order to thrive.

How To Control Cost of Goods (COGS) In Your Restaurant

With restaurant margins becoming even slimmer during a pandemic, every penny counts; and Cost Of Goods (or to some, Cost Of Sales) take up a significant amount of a restaurant’s overall expense. Unfortunately, many owners/operators fail to see how, if mismanaged and handled inconsistently, COGS can have a major negative impact on profitability and cash flow. Point-blank: It’s critical to the health and survival of all restaurants that you understand your COGS and how to manage them accurately – tune in and learn how.

Top Accounting Tools For Success In Your Restaurant

If you’ve recently tuned in to our latest Podcast Episode of Operating a Profitable Restaurant, you were able to catch some valuable sound bites from our RASI Operational Specialists on none other than Year-End tips to set yourself up for a prosperous year. In the spirit of the Holidays and of course Year-End, we’ve tasked our […]