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WHAT RESTAURANT OWNERS GET WRONG

Culinary Cues

The following provides some “food for thought”, maybe even a “look in the mirror” checklist for those who are drifting away from those initial goals. [] THINKING THEY CAN MANAGE THROUGH OTHERS. Ignore them and they will find someone else to pay attention. [] CONFUSING LEADERSHIP AND MANAGEMENT.

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How to Buy a Restaurant: An Ultimate Guide

7 Shifts

You have the advantage of a built-out kitchen with equipment, bars and dining rooms, technology, parking lots, and more. They could also be trying to get out of a bad situation—be it management, building, or market related. Have there been any tax audits in the past three to five years? Each has advantages and disadvantages.

License 444
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How to Buy a Restaurant: An Ultimate Guide

7 Shifts

You have the advantage of a built-out kitchen with equipment, bars and dining rooms, technology, parking lots, and more. They could also be trying to get out of a bad situation—be it management, building, or market related. Have there been any tax audits in the past three to five years? Each has advantages and disadvantages.

License 195
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How Restaurants Can Protect Themselves From Cyber Attacks

Modern Restaurant Management

A few months back, several Tim Hortons locations were forced to shut down after a computer virus infected cash registers at more than 1000 stores. Is the vendor’s security audited by a third-party company? Secondly, make sure that you secure your website. Does the vendor need to install hardware? Prepare For The Worst.

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Restaurant Taxes: Top 12 Tax Deductions and Tips For Restaurants

Harbor Touch

If you purchase equipment, like a restaurant POS system , for example, it may be eligible for depreciation deductions. A permanent tax deduction is now available for equipment for small business under Section 179. They also may require a separate filing and collection, so be sure your records are accurate. Expensing Asset Purchases.

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Restaurant Profit Margins: A No-Brainer Guide to Maximizing Your Profits

Notch

And when all costs and variables are considered, high-end restaurants need to be particularly well-managed to survive. So when you’re trying to manage your profits and losses, what you’re really doing is: weighing your risks, developing contingency plans—and mitigating the factors you can’t account for, by focusing on the ones you can.

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Restaurant Profit Margins: A No-Brainer Guide to Maximizing Your Profits

Notch

And when all costs and variables are considered, high-end restaurants need to be particularly well-managed to survive. So when you’re trying to manage your profits and losses, what you’re really doing is: weighing your risks, developing contingency plans—and mitigating the factors you can’t account for, by focusing on the ones you can.