Remove Bar Remove Insurance Remove Point of Sale Remove POS
article thumbnail

Restaurant Budgeting: How to Create A Restaurant Budget

7 Shifts

This includes: Net Sales: The total revenue derived from your sale of food and beverages. Restaurant expense #1: food cost Your restaurant's food cost comprises 3 elements: the food cost percentage, the cost of ingredients, and the sales or revenue from selling your dishes. Managing a restaurant is not for the faint-hearted.

article thumbnail

2023 Reflections: The Year That Was in Restaurants, Part Three

Modern Restaurant Management

As it relates to technology, there’s no question more and more tap rooms, bars and restaurants are embracing technology. Each year, Modern Restaurant Management (MRM) magazine asks experts for their views on the state of the industry. Here are some of their insights. Click here for the first part and here for the second one.

2023 120
Insiders

Sign Up for our Newsletter

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

article thumbnail

15 Restaurant Metrics to Know and How To Use Them

7 Shifts

Break-even point. Sales per labor hour. You can now determine what percentage this is off your overall sales to get a picture of your restaurant's financial health. Business is often a game of numbers, and restaurants are no exception. If it's not measured, it won't be managed. Table of Contents: Cost of Goods Sold.

article thumbnail

Average Bar Revenue Per Square Foot

BNG Point of Sale

Bar Revenue per Square Foot . What are the best indicators of a bar’s success? Sales per square foot are one option. To calculate sales per square foot, divide annual sales by total interior square footage including kitchen, dining, and storage space to get a net rentable foot in the leased location. .

Bar 52
article thumbnail

Successful Restaurant Accounting for Non-Accountants

Restaurant365

For instance, since restaurants primarily sell food and drink, inventory turns over at a very frequent rate, and sales are made up of a high number of transactions. Between inventory, sales, and other data points like labor, restaurants generate an enormous amount of data. What specific issues do restaurants face in accounting?

article thumbnail

Easy Guide to Applying to the Restaurant Revitalization Fund

Cheetah

All food & beverage businesses for whom at least one third of their income is from onsite sales are eligible to apply. Restaurants, food trucks, caterers, bars and even bakeries and bowling alleys are not required to provide any evidence of this. We know that government paperwork isn’t everyone’s cup-of-tea. Who Can Apply?

Webinar 143
article thumbnail

Typical Restaurant Overhead Costs and Expenses

BNG Point of Sale

The costs in this budget include the rent payments, the salaries, insurance, property taxes, and everything else. These expenses include all utility costs associated with production, such as power and gas, as well as employee wages, raw materials inventory, and sales commissions. Typical Restaurant Overhead Costs and Expenses .