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From acqui-hire to vaporware: The new restaurant tech ABCs

Restaurant Business

Acqui-hire “To acquire a company in order to use its employees skills or knowledge, rather than for its products or services.” Starbucks’ deal with Empower Delivery fits the acqui-hire framework. The coffee giant is licensing the company’s order fulfillment tech while also bringing aboard Empower’s six engineers.

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Opening a Restaurant: Steps to Take and Common Pitfalls to Avoid

Modern Restaurant Management

Get Your Licenses in Order Starting a restaurant business involves registering with the authorities and procuring the relevant licenses. Ignoring these licenses and regulations might attract hefty penalties and fines, so make sure you’re aware of the local, state, and federal regulations before opening up for business.

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Owning a Bar: Everything You Need to Know

7 Shifts

Hiring a Strong Team You'll need a manager, bartenders, waiters, and security. Find these candidates by hiring slowly: Use platforms like Poached Jobs and AllBartenders.com and ask for referrals by reaching out to family, friends, business partners, and other connections in the hospitality industry.

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Seven Tips to Help Restaurant Owners Avoid Common Pitfalls and Grow

Modern Restaurant Management

If you are not purchasing land, check the rent and lease agreements, and local regulations (such as zoning laws, permits, and licenses required). This word-of-mouth advertising encourages people to try you out. Then, they usually tell 10 people who will each tell 10 more people.

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How to Open a Bar: Comprehensive Guide on Starting a Bar

7 Shifts

However, note that bar profit margins vary due to various factors like tax rates, licensing laws, customer demographics, and the cost of living in your area. Your business name will also appear on your marketing materials, staff uniforms, menu, social media accounts, and advertisements, so make sure it isn't too long or complicated.

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The Ultimate Guide to Restaurant Costs

7 Shifts

Fixed costs include rent, mortgage, salaries, loan payments, license fees, and insurance premiums. So, train new hires properly by showing them how to use your POS, clearly articulate your customer service standards, and let them shadow other employees. After all, training new hires is an investment of time, resources, and money.

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Restaurant Accounting: A Comprehensive Guide

7 Shifts

Step 2: Look for a trustworthy restaurant accountant Even if you already know the restaurant bookkeeping and accounting process well, we suggest hiring a professional accountant to help ensure your business complies with local tax, payroll, federal, and state laws.