Modern Restaurant Management

AUGUST 2, 2023

Inventory, Ingredient Costs, and Seasonality Inventory management and controlling ingredient costs are critical for any restaurant's profitability. Employing efficient cash management software can help you track expenses and optimize cash flow.

Menu 167

Menu Cash Management Seasonal Menu Influencer 167

Modern Restaurant Management

JANUARY 5, 2024

To minimize service disruptions across restaurant operations, proactive businesses prioritize not just navigating the current economic environment but also preparing for any uncertainties in the future. Reevaluating operational processes helps find opportunities to increase a company and its restaurants’ financial position.

Supplies 117

Supplies Cash Management Food Supply Transportation 117

Embrace the Suck

APRIL 26, 2020

To get you started down the KPI Mastery path, let’s start with the basic metrics: Cash Flow. Cash flow is simply the amount of money going in and out of the restaurant. It’s essentially how much cash you have on hand. Cash flow = Cash input - cash output. Allow me to help you manage your KPIs.

Cash Management 435

Cash Management Point of Sale Inventory Bar 435

7 Shifts

AUGUST 20, 2020

Fortunately, tech can help boost operational efficiency in restaurants. How to cut labor costs in a restaurant 101: Use a labor management tool Did you know that restaurants spend about 30% of their revenue on wages, overtime, payroll taxes, and employee health care? In fact, labor is one of the biggest costs for restaurants.

Technology 293

Technology Mobile Ordering Dietary Restrictions Cash Management 293

Culinary Cues

MAY 13, 2023

This requires a complex organization of independent operations that are still required to communicate, share, and fall in line with the mission of the property. Each of those “departments” will require some level of unique kitchen management (sous chef) and specialists to support the uniqueness of function.

Hotels 426

Hotels Point of Sale Cash Management Training 426

Modern Restaurant Management

OCTOBER 21, 2022

Rapid inclination of restaurateurs to adopt POS software for better management of operations will complement the restaurant POS terminals market by 2027. Restaurant point-of-sale (POS) terminals are steadily replacing the now obsolete cash registers used in restaurants. In 2022, U.S. software company NCR Corp.

POS 179

POS Marketing Point of Sale Cash Management 179

7 Shifts

SEPTEMBER 20, 2021

Delivery, scheduling, inventory management, reservations, and guest management have seen technological advancements over the past few years, and it's just the beginning. Your POS system reduces ordering errors, increases front-of-house and back-of-house efficiency, and helps you control inventory. All of this (and more!)

Technology 370

Technology Front of House Social Media Back of House 370

The Restaurant Group

MARCH 11, 2024

Managing a restaurant involves so many moving parts, including sourcing high-quality ingredients, purchasing a seemingly endless list of supplies, managing staffing and scheduling, and budgeting for a profitable restaurant – all within a set budget. One example is our restaurant remote management service.

Management 78

Management Management Cash Management Insurance 78

Culinary Cues

DECEMBER 17, 2020

None, however, are as devastatingly out of the operators control as this pandemic. Even the best operators are at a loss for solutions. A reduction in restaurant business leads to crop waste, unplanted land, and serious cash flow problems for farmers.

Uniforms 470

Uniforms Cash Management Brewery Consumer Goods 470

Restaurant365

OCTOBER 30, 2020

As a restaurant owner or manager, sometimes you may need to jump in to help keep business running smoothly. However, the day-to-day tasks can distract from the bigger-picture work that is essential for your long-term business health: restaurant operations management. What is restaurant operations management?

Operations 78

Operations Management Management Inventory 78

Culinary Cues

MARCH 26, 2022

Every business requires controls in pricing, consistency, quality, and cash handling. All of the tools are available for inventory control, purchasing systems, cash handling, costing templates, and quality assessment. Social media is very inexpensive, but someone needs to effectively manage it every day and every way.

Cash Management 366

Cash Management Social Media Restaurant Law Communication 366

Modern Restaurant Management

JANUARY 27, 2023

It takes a lot to become an entrepreneur including learning actively from mistakes, understanding operations, and managing finances. Many entrepreneurs who are new to the business might not consider issues like cash availability, inventory costs, and overhead costs.

Cash Management 180

Cash Management Document Inventory Presentation 180

Restaurant365

AUGUST 4, 2020

Running a successful restaurant business is all about spending your cash wisely. You invest a large amount of your budget in inventory. When that inventory is wasted, stolen or spoiled before it’s sold, it must be written off as an expense in the books. What is restaurant inventory management?

Inventory 78

Inventory Management Management Cash Management 78

Restaurant365

MARCH 10, 2022

With food costs running at approximately 30% or higher, learning importance of inventory management and how to prevent common mistakes is critical in successfully driving down costs and maximizing profits. First, let’s break down the two types of inventory costing, Actual and Theoretical. Theoretical Variance.

Inventory 78

Inventory Management Management Merchandise 78

7 Shifts

MARCH 11, 2020

You won’t have cash coming in until you open your doors, so you’ll have to depend on your life savings, investments, and loans to get you through your first few weeks or months of business. If your space is worth $1 million, for example, you’ll need $100,000 in cash to lock in the space. You’ll need roughly 10% down on your space.

License 354

License Cash Management Inventory Food Supply 354

7 Shifts

MARCH 10, 2021

There are many reasons why a restaurant fails — no industry experience on the part of the owner, poor location, not enough operating capital — but the main reason is a lack of planning. This process includes focusing on your daily finances , such as cash flow, payroll, and inventory.

Management 370

Management Management Small Business Email Marketing 370

Sculpture Hospitality

JULY 7, 2021

Since the beginning of the COVID-19 pandemic, bar owners around the world have learnt a number of lessons about managing their businesses during challenging times. Perhaps no lesson, however, has been as important as understanding cash flow.

Bar 148

Bar Management Management Inventory 148

Modern Restaurant Management

AUGUST 16, 2023

Gone are the days of cash-only transactions. POS systems offer a multitude of benefits for businesses, including: Streamlined operations by automating various tasks such as sales transactions, inventory management and reporting. Enhanced accuracy through minimized human errors in order processing and inventory tracking.

Loyalty Program 167

Loyalty Program Mobile Ordering Dietary Restrictions Point of Sale 167

Modern Restaurant Management

APRIL 5, 2022

Various existing and new companies are adopting this trend to reduce operational expenses and risks. In this blog, we will discuss the various facets being utilized to enhance the entire operation of the ghost kitchen efficiently. Dog Haus, for example, began with just two stores but now operates over 10 ghost kitchens worldwide.

Online Ordering 196

Online Ordering Point of Sale Website Management Inventory 196

Modern Restaurant Management

JANUARY 8, 2024

Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. During peak seasons, considering outsourcing certain services becomes a practical solution to ensure seamless operations. Read the first part, here.

2024 215

2024 Loyalty Program Cash Management Customer Experience 215

7 Shifts

JULY 21, 2020

From small business loans to microgrants to business credit cards, cash is available; it just takes a bit of application work and a little know-how. Best for: Businesses who need cash to keep their doors open and their staff employed. Best for: Small businesses that need substantial cash to do big things.

Cash Management 300

Cash Management Government Small Business Healthcare 300

Restaurant365

DECEMBER 20, 2021

As a restaurant finance or accounting leader, you and your team can play a unique role in supporting your operations team. While both areas may be executed through the operations team, revenue and expenses can be optimized with help from thoughtful and thorough financial analysis. Working with operations to set a prime cost goal.

Operations 78

Operations Leadership Point of Sale Cash Management 78

Modern Restaurant Management

FEBRUARY 3, 2022

Seventy-four percent of full service restaurants (FSRs) managed to maintain or increase their sales during the pandemic; however, profit margins in 2021 declined to 10 percent, compared to 12 percent in 2019, according to third annual State of Full Service Restaurants Report released by TouchBistro.

Loyalty Program 194

Loyalty Program Online Ordering Cash Management Point of Sale 194

Hot Schedules

JULY 15, 2021

Mitigating Cost Price Inflation Via Supplier Management. Hospitality systems can’t undo labor legislation, failed harvests or political turmoil, and with hotels in urban markets still seeing revenues dip as much as 52 percent compared to 2019, operators need to utilize every possible method to cut costs. Related Posts.

Pricing 148

Pricing Management Management Cash Management 148

The Restaurant Times

DECEMBER 30, 2020

Most restaurant owners fail to keep a tight check on restaurant inventory, and this is the biggest mistake they make. By not tracking inventory, you may be unwittingly increasing the food costs. This article discusses how restaurants in the UAE can monitor their restaurant inventory and control food costs.

Inventory 98

Inventory Cash Management Food Food Order 98

7 Shifts

OCTOBER 31, 2022

Section 5: Operations Plan. A good operator looks back on their Business Plan on a monthly or quarterly basis to gauge where they are in terms,” says Mark Moeller, president, and owner of The Recipe of Success , a national restaurant consulting firm. The management team. Management team. Section 1: Executive Summary.

Point of Sale 397

Point of Sale Back of House Document Download 397

Modern Restaurant Management

JUNE 14, 2022

One study found that internal employee theft is responsible for 75 percent of inventory shortages and about 4 percent of restaurant sales. There are all kinds of different types of restaurant theft, ranging from food and inventory, theft at the register and checkout counter, external grease theft, time theft and employee product theft.

Point of Sale 203

Point of Sale Kitchen Safety Back of House Inventory 203

Modern Restaurant Management

FEBRUARY 13, 2020

Small business owners in nearly every industry struggle with cash flow and how to best utilize their working capital. Nearly 60 percent of failed businesses cite cash-flow issues as a primary reason for their failure, which shows how cash flow management can make or break your business. Get Paid Faster.

Cash Management 147

Cash Management Small Business Inventory Customer Experience 147

The Restaurant Times

JUNE 1, 2022

It eases operations and improves the chances of survival of a restaurant in the competitive world. But, at the end of the day, it doesn’t affect operations and satisfies customers. A POS software also tracks restaurant fund flow by keeping an eye on the following: Inventory. Let’s find out. . Account payable.

Operations 52

Operations Cash Management Employee Relations POS 52

Cheetah

APRIL 13, 2021

Just five years after Cheetah was founded, we’ve managed to process over 350,000 orders, supply over 1,000,000 products, and service over 3,000 restaurants. Operating from San Francisco and the Greater Bay Area, we now service more than 10% of independent restaurants in the region. Solving Restaurants’ Most Pressing Problems.

Operations 78

Operations Food Truck Food Supply Small Business 78

BNG Point of Sale

NOVEMBER 19, 2021

A POS can effectively integrate with other key business processes, make operations more efficient and act as the backbone of your business. A digital POS system takes a traditional cash register to the next level. Track labor and productivity Expedited cash and card check out? POS Business Integrations.

POS 52

POS Operations Loyalty Program Point of Sale 52

Culinary Cues

AUGUST 7, 2021

STATE OF MIND: Many are approaching this challenge as a roadblock to success, something that is preventing restaurants from finally getting their groove back and watching cash flow exceed the cost of doing business. It is impossible to find and retain employees who are capable and willing to dedicate themselves to the operation – why?

Social Media 474

Social Media Cash Management Blog Equipment 474

The Restaurant Times

MARCH 1, 2022

The ongoing pandemic has changed existing business models, and it is imperative for restaurant owners in the US to adapt to them and streamline their restaurant operations. If you’re looking to run your restaurant operations in 2022 efficiently, we have created a comprehensive list of 5 tips to improve your restaurant operations. .

2022 52

2022 Operations Social Media Cash Management 52

Restaurant365

SEPTEMBER 23, 2021

Whether you’re a bookkeeper, accountant, restaurant owner, or store-level manager, understanding the basics of accounting can pay dividends for your business. Healthy accounting procedures for restaurants can help you manage food and labor costs, understand your profits and losses, and make strategic decisions about expenses and investments.

Cash Management 147

Cash Management Point of Sale POS Inventory 147

Modern Restaurant Management

SEPTEMBER 14, 2022

For now, restaurants are using AI (Artificial Intelligence) and ML (Machine Learning) to streamline operations and improve customer service in a much less tech-savvy environment. Recent technology advancements, mobile devices, and the pandemic all shifted the way restaurants need to operate. What are AI and ML?

Front of House 211

Front of House Mobile Ordering Loyalty Program Back of House 211

Restaurant365

DECEMBER 11, 2020

As 2021 begins, there are many restaurant management best practices that can be applied to strengthen your business, in the short and long term. Manage cash flow by creating a cash flow forecast. Your total cash flow is your cash inflows (for restaurant. over a certain period of time.

2021 136

2021 Cash Management Management Management 136

Modern Restaurant Management

MARCH 14, 2024

They've also shared about shifts and growth in the pizza industry and three ways to increase a pizzeria or pizza chain’s cash flow. Ways to Increase Cash Flow Pay attention to internal issues and delivery orders – especially during peak hours. percent of pizza order cancellations happen between the same window.

Online Ordering 110

Online Ordering Cash Management 2023 Inventory 110