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 Do Small Business Restaurants Make a Profit?
What is restaurant profit margin? One of the most critical metrics to understand and track as a restaurant operator is your restaurant profit margin. Simply put, to remain in business, you need to understand your margins and everything that goes into them. This seemingly simple metric contains a fair bit of complexity under the hood. […]
Why You Shouldn’t Ignore Payroll Compliance & How To Make It Painless!
Payroll is one of the most critical aspects of any business. Properly paying your team creates trust, employment longevity, and helps operators avoid costly payroll compliance issues. This post reviews the current industry landscape regarding labor and payroll compliance. Continue reading to learn why it’s crucial that operators work with integrated point solutions to ensure […]
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. […]
Restaurant Hiring: Navigating the Labor Shortage
If you’re having trouble finding great people to work in your restaurant, you’re not alone. There’s a labor shortage impacting the restaurant industry, made tougher by the pandemic. But there is no shortage of jobs: there are more than 9 million open jobs in the United States. Early on in 2020, we were scrambling to […]
How Experts Use Technology To Help QSR Labor Management
Leveraging technology helps operators reduce costs and improve efficiencies in today’s current industry climate. Many QSR and Franchise operators utilize various types of technology to streamline and automate data so they can grow their businesses by de-fragmenting systems. Reduced manual processes combined with greater accuracy and visibility into the business allows operators to make better business decisions, […]
5 Ways To Build Better Budgeting Strategies For Summertime Success
You’ve made your budget for 2023, but Q1 is over, we’re deep into Q2, and now it’s time to adjust and adapt as you’ve seen your fiscal results. Summer is nearly here, and as every restaurant knows, the extra outdoor patio square footage means additional sales. So now it’s time to plan accordingly! Throughout this […]
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 […]