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Ready To Sell? Maybe You Should Be

Modern Restaurant Management

By then, he had a well-oiled, cash-flowing operation that he could sell at a premium. Build Social Media Presence : As soon as you start to advertise your business is up for sale, the first thing a potential buyer will do is Google your restaurant. Refer back to Rule #11, "Control Your Controllable Costs."

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Why Building Business Credit Should Be a Priority for Your Restaurant

Modern Restaurant Management

They started their first business with cash, but when it came to building The Icy Spot GA, they tapped personal credit for some of their startup costs. Strong business credit gives you access to better financing options precisely when you need them—to manage those purchases or maintain cash flow during seasonal fluctuations.

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Tips to Overcome Your Restaurant’s Cash Flow Crisis

Modern Restaurant Management

According to a study, 82 percent of small businesses fail due to cash flow problems. A cash flow shortage occurs when more money is flowing out of the business than is flowing into it. During a cash flow shortage, you might not have enough capital to cover your payroll or other operating expenses.

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January/February 2020 Legal Update

Modern Restaurant Management

Nair, a partner at Ervin Cohen & Jessup LLP compiles recent legal news affecting the restaurant, food and beverage and hospitality industries for Modern Restaurant Management (MRM) magazine. The laws and regulations prevented alcohol producers and distributors from advertising any details of what kind of discounts they offered on alcohol.

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Restaurant Accounting: A Comprehensive Guide

7 Shifts

By tracking metrics like customer retention and employee turnover rate, contribution margin, and menu item profitability, restaurant managers can identify each area’s strengths and what areas need improvement. Table turnover rate The table turnover rate refers to the number of times you have served new customers at the same table.

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How to Write a Restaurant Business Plan [with Sample]

7 Shifts

You'll have a document to reference during the planning or opening of your restaurant. The management team. Management team. Detail your plans for using social media, local advertising, promotions, and how you're going to reach your target audience. You may want to list out: Team Management. Task management tools.

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Restaurant Bookkeeping: Comprehensive Guide to Master Bookkeeping

7 Shifts

Table of Contents 5 easy steps to simplify bookkeeping in the restaurant industry Essential accounting and bookkeeping reports for restaurant owners and managers Identifying and reducing controllable costs in the restaurant business Should I outsource restaurant bookkeeping or do it myself?