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In this article, we'll look at why cybersecurity is important in the restaurant business, and how you can protect yourself from cyber attack. A few months back, several Tim Hortons locations were forced to shut down after a computer virus infected cash registers at more than 1000 stores. Does the vendor need to install hardware?
To add resources to these guides, reach out to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com with news. Checklist app automates daily food safety and operational task management as well as regular maintenance and audit procedures. ” The BOHA!
You may also like our article on how micro-cooperatives are transforming the Kenyan coffee trade. Many of these co-ops are well-managed and add value to coffee in a number of ways, including through quality control, packaging, and even domestic sales in some cases. Mr. Gathura is a retired wet mill manager from Kenya.
With the help of the strategies and tips mentioned in this article, a stable dark kitchen business can quickly reach operating break-even and generate profits. . Forecast The cash flow . With a cash flow forecast, you can gain insights about how to manage your cash flow better. Avoid The Credit Business.
You may also like our article on what to consider when developing a sourcing programme. Without the financial capability to invest in farm management, some farmers are forced to abandon coffee production altogether in search of more profitable cash crops. Read on to learn more about their insight.
There are three primary ways for restaurants to pay their bills: manually writing checks (stuffing, licking, stamping envelopes, and taking them to the post office), using credit cards or digital banking, and lastly using a third-party provider like Bill.com, QuickBooks, or your restaurant management system (RSM).
Approachable management: someone in authority who staff can talk to if they notice things aren’t right. Good internal communication systems – allowing staff and management to communicate freely. Up-to-date information about costs and percentages – sharing the results of stocktake and purchasing with managers.
In the restaurant industry, revenue management is of utmost importance. One of the primary goals of restaurant revenue management is to maximize the overall sales and focus on decreasing the costs. This article covers a list of reports that restaurants in Saudi Arabia must track to keep a check on revenue management. .
According to a recent Forbes article , sit-down restaurants make a profit of about 6%. And when all costs and variables are considered, high-end restaurants need to be particularly well-managed to survive. Spend Less Money on Food Restaurateurs who are serious about increasing their profits must conduct a complete supply-chain audit.
Every pitfall mentioned in this article includes a solution (which reminds me, you should also look into best practices for F&B franchising). Audited financial statements can reassure potential business owners and investors. We suggest focusing on your earnings before interest and taxes (EBIT) to estimate cash flow.
In this post, we will explore what an ideal restaurant food margin is and how to calculate it so that you can have an easier time managing your business and know exactly where you stand financially. . However, the difference is that high-end caterers can make as much as 15% while others might only be able to manage 8%. .
Managing a chain of company-owned restaurants is very different from working with franchisees. In this article, we’ll cover: Intellectual property Business plan Manual for franchisees Franchise agreement Marketing strategy Partnership with franchisees Training The right technology Feedback loops Franchise support team.
According to a recent Forbes article , sit-down restaurants make a profit of about 6%. And when all costs and variables are considered, high-end restaurants need to be particularly well-managed to survive. Spend Less Money on Food Restaurateurs who are serious about increasing their profits must conduct a complete supply-chain audit.
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