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Why Restaurant Forecasting is Critical in 2022, Part 1

Restaurant365

In this two-part blog post series, you’ll learn the importance of forecasting in restaurants and how to accurately implement restaurant demand forecasting. Part 2 will take a deep dive into how to forecast restaurant sales, including labor demand forecasting and food demand forecasting. Restaurant budgeting and forecasting differences.

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MRM Research Roundup: Mid-July 2021 Edition

Modern Restaurant Management

Total restaurant visits were down -6 percent in May 2021 compared to May 2019 but were up +23 percent from a year ago, recovering from a -23 percent decline in May 2020. Snack were up this May +8 percent compared to May 2019 and up +3 percent compared to two years ago. Falling outlets, rising sales. " Remarkable Resiliency.

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How To Calculate Profit Margin For Small Business Owners

Sling

As a small business owner or manager, you need to speak the language of your industry. Combining the two words creates a term that means: The amount by which revenue from sales exceeds costs. This is a common question many owners and managers ask in regard to accounting for their business. What Is Profit Margin? Profit Margin.

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POS is Dead, Right?

Qu

The POS term was formed when there was just one main point of sale – the register in the restaurant. The 80s Called & They Want Their POS Back The 80’s gave birth to the first electronic cash register with computerized systems to manage payments and orders.

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How to Calculate and Optimize Your Restaurant Payroll Percentage

Restaurant365

Your restaurant payroll cost is not fixed and may fluctuate with sales. Your payroll percentage is one of the most important metrics to track, because it indicates how much you’re spending on labor relative to your sales. Importance of payroll cost and its percentage of sales. Understanding labor and payroll cost. Payroll taxes.

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11 Key Factors to Make Your Restaurant Business Successful

Bingage

If all things and planning goes right, opening and managing a restaurant can be very fruitful, Here I am sharing a complete guide on how to make a new restaurant successful. Promotion of a new restaurant is one of the important tasks of the restaurant manager. Provide a real-time report of sales, customers, expenditure and revenue.

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14 Tips for Surviving 2021 in the Restaurant Industry

ChefMod

But, how have they managed to stay up and running so far? Additionally, the restaurant industry lost $240 billion in sales compared to the Association’s pre-pandemic forecast of the year 2020. It is no secret that the COVID-19 pandemic has had a devastating effect on many industries and individuals around the world.

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