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MRM Research Roundup: Mid-Year 2020 Edition

Modern Restaurant Management

shows that consumers feel safer when hotels and restaurants raise their cleaning protocols to include hospital-grade disinfectants and third-party audits. Check clean through periodic on-demand training, auditing and verification that procedures have been followed. Cleaning supplies on the table. Adherence to strict social distancing.

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The Ultimate Guide to Restaurant Costs

7 Shifts

Your restaurant is different so ensure you find your ideal food cost (discussed later) Labor cost : Roughly 30% of revenue including management salaries of 10% Insurance varies by provider and type. Fixed costs include rent, mortgage, salaries, loan payments, license fees, and insurance premiums.

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Restaurant Taxes: Top 12 Tax Deductions and Tips For Restaurants

Harbor Touch

If you are audited, and the IRS believes you are overcompensating employees based on other amounts reported within the restaurant industry, you may not be able to deduct them fully. Property insurance, liability insurance, and other policies designed to protect your physical restaurant location(s), employees, and customers.

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Who has the worst staff turnover? Restaurant Employee Turnover by City and State + Retention Playbook

7 Shifts

If you haven't looked at them in a while, it may be time to audit them and see if they're what your business needs now and to grow in the future. The Play: Do a culture audit and examine your core values. When we think about employee benefits, health insurance and retirement (401k) usually come to mind. Pet insurance.

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Restaurant Bookkeeping: Comprehensive Guide to Master Bookkeeping

7 Shifts

They speed up your vouching process and help clear up any inconsistencies that could arise during the auditing process. These costs include property tax (if you own the building) and even the insurance you pay for your building and equipment. If not, your lease payments should be reflected here.

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Free restaurant profit margin calculator & comprehensive guide

Open for Business

Overhead costs are fixed costs including rent, utilities, equipment leases, and insurance. Marketing and advertising are fundamental for growth, but restaurants tend to keep these costs to about 3-6% of total sales. Regular audits of your spending might reveal surprising areas for cost-cutting.