How To Accurately Calculate Liquor Cost in Your Restaurant or Bar

Restaurant Bar - How To - Liquor Cost

Understanding your restaurant’s COGS (cost of goods or cost of sales – the cost of the goods you purchase and utilize to create revenue), is the key to success for every well-run restaurant. As every operator knows, industry margins are paper-thin. To become profitable, it’s imperative that you gain a true handle on how to […]

Definitive Guide to Restaurant Menu Engineering (Template Download)

RESTAURANT MENU ENGINEERING: HOLY GRAIL OF MANAGEMENT SYSTEMS Restaurant operators often spend many hours and a fair part of their careers chasing after a good Menu Engineering System. Why is it so elusive? Let’s start by defining it and what a good system can do for your restaurant; then we’ll look at what’s required of […]

How To Use A Declining Budget: Restaurant Food Cost Management

HOW CAN A RESTAURANT SUCCESSFULLY MANAGE FOOD COSTS? USE A DECLINING BUDGET One of the most important tools in restaurant accounting to effectively manage food cost is a Declining Budget. When used properly, a Declining Budget can be one of the best tools for stabilizing your costs as well as increasing your cash flow.   […]

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 Your Restaurant’s Website Can Drive More Revenue

The future of the restaurant industry in a COVID-safe world heavily relies upon technology and finding both creative and functional means to connect diners to restaurants. Learn how your restaurant’s website can turn views into paying customers!

2021 Outlook On Restaurant Purchasing & Disposables

The trickle-down effect that COVID-19 has had on restaurants has been astronomical. From to-go programs becoming the new front line of restaurants causing disposables to go through roof; to sustainability desires; inventory needs, and more; the world of paper and packaging is at the top of every operator’s radar. Learn how to outlast your competition with these packaging tips.

$500 Million for New COVID Relief Grant for Small Business in California

Governor Newsom announced the creation of a $500 million COVID Relief Grant administered by the California Office of the Small Business Advocate (CalOSBA) for small businesses that have been impacted by COVID. Two rounds of funds will be awarded to selected intermediaries to distribute relief through grants ranging from $5,000- $25,000 to eligible small businesses, based on their annual revenue from their most recent tax return.