Remove 2018 Remove Audits Remove Employee Relations Remove Tip Distribution
article thumbnail

Restaurant Accounting: The Ultimate Guide

Xtra Chef

The purpose is to help teams to better understand how accounting relates to the business of running a successful restaurant. Tip Handling. Restaurants choose or are held to different methods of tip handling. Instead, you’ll want to distribute it across multiple periods. Offering financial insights and advice.

article thumbnail

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

Notch

Below, you'll find a series of actionable tips, tricks, and strategies you can employ today to do exactly that! You made a 6% profit margin—or just shy of the 2018 industry average of 6.1%. In 2018, Wendy’s saw a profit margin of 15.9%. Profits equal revenue minus costs. Here’s an example: Say you made a $300,000 last year.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

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

Notch

Below, you'll find a series of actionable tips, tricks, and strategies you can employ today to do exactly that! You made a 6% profit margin—or just shy of the 2018 industry average of 6.1%. In 2018, Wendy’s saw a profit margin of 15.9%. Profits equal revenue minus costs. Here’s an example: Say you made a $300,000 last year.

article thumbnail

New & Notable: TEAM Schostak Celebrates 40, AI in Food Service and Beachy Tech

Modern Restaurant Management

TEAM Schostak Family Celebrates Anniversary and Employees. TEAM Schostak Family Restaurants (TSFR) is celebrating its 40th anniversary along with the anniversaries of employees that have been with the company for 20 years or more. New & Notable spotlights the latest news restaurateurs need to know.

Food 173
article thumbnail

EZ PPP Forgiveness App and Yelp’s New COVID Help

Modern Restaurant Management

Did not reduce the salaries or wages of their employees by more than 25 percent, and did not reduce the number or hours of their employees; OR. Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce the salaries or wages of their employees by more than 25 percent.