The Best Tips for Strategic Vendor Management
If you’re new to the restaurant business, you’ve probably heard about strategic vendor management but aren’t exactly sure what it entails. Well-experienced business owners in the field know it’s absolutely critical for maximizing not just ROI but also the relationships and connections that make every day in a restaurant run smoothly. What is vendor management, […]
How Do You Categorize Restaurant Expenses?
Opening a restaurant is a costly endeavor, and successfully running a restaurant requires strict attention to your restaurant expenses to control costs and increase efficiencies. Few restaurants can get by with paper, pencil, and a stack of excel sheets for manual data entry. Such restaurants miss out on the opportunity to reduce expenses and increase […]
The Best Way to Maximize Restaurant Operations Management
What is restaurant operations management? Running a restaurant only yields successful results when a clear and actionable playbook is in place to guide your team. These data-based guidelines for managing your kitchen, front of house, finances, and day-to-day functions are the keys to proficient restaurant operations management. They enable you to consistently review and execute […]
How to Calculate Your Restaurant Prime Costs
Now is an excellent time of year for operators to look back at their prime costs and determine where they can increase efficiencies and decrease costs. Industry supply/transportation issues and labor shortages control much of the conversation these days. Having proper tools to keep tight control of your prime costs is essential to operational efficiency and profitability. […]
How To Accurately Calculate Liquor Cost in Your Restaurant or Bar
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, you must gain an accurate handle on how to control COGS in […]
Definitive Guide to Restaurant Menu Engineering (Template Download)
The Definitive Guide To Menu Engineering 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 an operator […]
Top Restaurant Accounting Tips: Closing Out Tips & House Bank
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. This enables you to make quicker, more educated business decisions. When Closing […]
Sustainability & The Restaurant Industry – What Can You Do To Help?
As we recently passed another trip around the sun to celebrate the 51st Anniversary of Earth Day, it got us thinking: What can we do in the restaurant industry to help the efforts now, and in the future, considering this year’s theme, “Restore Our Earth.” Pre-Covid, sustainability efforts were beginning to creep up onto every […]
2021 Payroll Updates That May Affect Your Restaurant
Podcast Video Payroll for Restaurants is no longer just about cutting checks for hours worked. It’s evolved into understanding and maintaining payroll compliancy with both Federal & State mandates. Law changes and enactments regarding PPP, Loan Forgiveness, Safe and Sick time, Overtime, Paid Time Off, etc. have created a world of litigation and increased labor […]