Modern Restaurant Management

JANUARY 8, 2024

Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits.

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2024 Loyalty Program Cash Management Customer Experience 215

Modern Restaurant Management

SEPTEMBER 14, 2022

AI can assist restaurants in optimizing how they manage and operate menus to increase margins. But they have tons of cash to burn on such gimmicks, right? Now that kind of technology isn’t accessible to everyone, but restaurants can always use AI to target their menu's digital marketing.

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Front of House Mobile Ordering Loyalty Program Back of House 211

Restaurant365

AUGUST 25, 2020

Comprehending your restaurant cash flow is essential to running your restaurant business. Cash flow refers to the amount of cash coming into your restaurant minus the amount of cash going out on a daily, weekly or monthly basis. Common factors that cause cash flow issues. Too much inventory.

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Cash Management Seasonal Menu Inventory Email Marketing 97

Aaron Allen & Associates

MARCH 3, 2022

There are so many things to think about — from inventory management to restaurant payment and billing and more — it can be difficult to keep track of it all. That’s where restaurant management software comes in. In this roundup, we will take a look at some of the best restaurant management software out there.

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Management Management Mobile Ordering Point of Sale 120

Restaurant365

MARCH 5, 2020

From cloud-based POS systems to mobile apps designed to improve employee satisfaction and streamline scheduling, technology is bettering business and changing the landscape of restaurant management. So why is it that alcohol management is lagging? The problem with outdated alcohol management.

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Blog Management Management Cash Management 146

7 Shifts

DECEMBER 8, 2020

Have a cocktail or menu competition The next time you are changing up your menu, open up a slot for an item that will be created by a member of your kitchen or front of house staff. Whoever the team decides is the winner, that staff member wins the honor of having their item on the menu for a set amount of time.

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Front of House Social Media Employee Relations Back of House 370

Modern Restaurant Management

FEBRUARY 4, 2022

This instability will push operators to trim costs by shortening menus and investing in labor-saving technology to free up cash for wage increases. Restaurants will also explore delivery options beyond costly third-party partnerships, and hike delivery menu prices to make the channel more lucrative as off-premise demand holds steady.

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2022 Customer Service Online Ordering Website Management 218

7 Shifts

JANUARY 23, 2020

As you plan out your concept, location, menu, staffing, and marketing, take a read through the advice left by hundreds of restaurateurs to ensure you’re set up for success in 2020. Ensure your business plan is real and not theoretical, in order to understand every operation cost you will come to a head with, and ensure positive cash flow.

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2020 Hiring Cash Management Education 335

Lavu

DECEMBER 20, 2019

Under Internal Revenue Service regulations , employees must keep a daily record of the cash and non-cash tips received, either directly or indirectly. amount of cash tips to their employer by the 10th of the following month. Employees must report any non-cash tips on. Inventory Management. Allocating Tips.

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Cash Management Point of Sale Employee Relations Inventory 78

Lavu

JANUARY 21, 2020

This includes communication of financial statements like income statements, balance sheets, and cash flow. This includes the revenue of the restaurant, cashflow, inventory levels, and income statements. They document all the financial transactions of the restaurant, keeping track of the inventory, cash flow, and income statements. .

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Cash Management Point of Sale Inventory Information 78

Modern Restaurant Management

DECEMBER 21, 2022

Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. " – John Oakes, Revenue Management Solutions CEO. Spirit-based, ready-to-drink beverages will continue show vast white space, and bourbon should continue to thrive.

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2023 Loyalty Program Mobile Ordering Customer Experience 197

Lavu

JANUARY 21, 2020

Businesses in the restaurant industry generate most of their revenue from selling food and beverages. A small restaurant business will often change its inventory level based on the demands of the customers. Let’s have a look at the major accounting methods used by small restaurants: Cash Accounting Method.

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Cash Management Point of Sale Small Business Customer Service 78

Restaurant365

JUNE 9, 2020

By generating a budget for your controllable costs , you can create a clearer path for your cash to move. Assessing this movement by ensuring that the budget is maintained and that invoices are entered daily will help you better manage your cash flow each month. Manage your cash flow. One of these costs is labor.

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Cash Management Management Management Small Business 97

Open for Business

OCTOBER 20, 2023

From budgeting and licensing to crafting the perfect menu, here’s everything you need to know about how to open a restaurant. Market research Before you even think about the menu or location, you need to understand the guests who will walk through your doors. Creating the menu Your menu is the restaurant’s calling card.

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License Email Marketing Seasonal Menu Front of House 78

Lavu

MARCH 2, 2020

Doing so helps managers and restaurant owners to make informed decisions and implement profitable strategies. The major functions of BI include data mining, reporting, analytics, online analytical processing, and business performance management. A restaurant analytics system can be built in the restaurant management software.

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Cash Management Point of Sale Front of House Inventory 78

Restaurant365

DECEMBER 20, 2021

Sharing information between teams shouldn’t require time-consuming communication to ensure accurate reporting, cost management, and forecasts. From ordering inventory for the weekend to scheduling staff for next week, these small decisions add up over time to impact the larger numbers.

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Operations Leadership Point of Sale Cash Management 78

Apicbase

MARCH 3, 2023

These back-of-house software systems have become indispensable for modern restaurants because they enhance profitability and simplify work for restaurant managers and kitchen staff. Chief among these restaurant management systems is a F&B management platform such as Apicbase. Let’s find out how.

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Point of Sale POS Management Management 52

Clover - Restaurants

APRIL 23, 2024

An existing restaurant also has an established cash flow, as well as a system in place for managing inventory, staffing, and running the kitchen. There’s no guarantee that employees will stick around for a change of management or if you start changing the operating model. Is the real estate owned or leased?

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Point of Sale Cash Management Franchise Franchising 52

The Restaurant Times

MARCH 31, 2022

Food and Beverage (F&B) cost is one of the most significant cost components for any restaurant, and it ranges between 20% to 35% of the revenue depending on the restaurant-style. The well-established restaurants usually have a separate department to look after and maintain everything related to food and beverages costs.

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Cash Management Inventory Employee Relations Technology 52

Modern Restaurant Management

MAY 21, 2020

High-end restaurants that tend to have a pricier menu should look to add more affordable items. With less inventory and even fewer customers coming in, we recommend that you widen your margins and revamp your offerings. Instead, you can reach a compromise in your menu. Offer Disposable Menus. Allow Limited Entry.

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Social Media Food Safety Cash Management Kitchen Safety 215

Restaurant365

NOVEMBER 20, 2020

Mr. Steinbach reported that without robust data, it was difficult to finish projects like costing out food and beverage items. As Eli’s worked on new menus, Mr. Steinbach spoke about the questions they needed to consider, but didn’t have data for. Can I afford to put this item on the menu? ” he listed.

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Demo Point of Sale Cash Management Waste 148

Restaurant365

FEBRUARY 19, 2020

Foundational restaurant costs can be divided into: Cost of Goods Sold (CoGS): also known as food cost, the total cost of all food and beverage ingredients your restaurant used during a specific period of time. In order to meet slim margins, restaurant accounting needs to meet high standards for accurate labor and inventory metrics.

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Point of Sale Cash Management Inventory Consumer Goods 120

Bar and Restaurant Coach

MARCH 16, 2019

The following guest post is from Frankie Merriam, Managing Partner at Olde Towne Tavern near Atlanta. At least that’s what my mentors told me when I was trying to grasp the concept of inventory and menu costing years ago. Whatever the case may be, each business needs to identify this before looking at inventory or costing.

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The Restaurant Times

AUGUST 5, 2022

Successful restaurant accounting can help in efficient cash management, balancing financial books, optimizing costs, and overall business planning. You can find out what your best-selling menu items are as well as narrow down on your most costly expenses. Automated Inventory Management. Cash Flow Statement.

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Cash Management Point of Sale Inventory Employee Relations 52

Restaurant365

SEPTEMBER 3, 2021

Restaurant owners, operators, and managers are constantly faced with decisions about accounting, operations, inventory, customer service, and staffing. To keep up in a fast-paced industry, restaurants might consider adding a new role, commonly called “profitability strategist,” to the management team.

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Waste Cash Management Point of Sale Inventory 78

Restaurant365

OCTOBER 22, 2021

Having access to data about your restaurant can inform your decisions about operations, staffing, menu changes, and long-term strategy. However, if you’d like a more granular look at your SPLH by daypart, you can use your restaurant management software to automate pulling up-to-date sales and labor information. Conclusion.

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Point of Sale Insurance Inventory Cash Management 78

The Restaurant Times

FEBRUARY 22, 2022

Investing in labour-saving technologies and providing simple and fewer menu selections, for example, has allowed them to free up cash flow and recruit more people or raise compensation. Customers are more concerned about the environment, and they want the food and beverage industry to make significant adjustments to safeguard it.

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2022 Front of House Cash Management Online Ordering 98

BNG Point of Sale

AUGUST 19, 2021

Food and drink inventory costs need to include the ingredients costs per meal or per drink. To calculate your CoGS, take your starting inventory amount plus the cost of that inventory and subtract your ending inventory amount. . Prime Cost : This is the sum of the labor, food, and beverage costs.

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Cash Management Point of Sale Inventory Food Truck 52

Goliath Consulting

MARCH 2, 2019

The decision to plan early and think outside norms paid off huge dividends for us, leading to impressive profit margins and well-maintained inventories amid many other restaurants running out of product and staffing. Working with the chef and suppliers enabled us to streamline the menu and showcase more profitable options.

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Events Cash Management Email Marketing Outdoor 104

Modern Restaurant Management

DECEMBER 16, 2021

Modern Restaurant Management (MRM) magazine asked restaurant industry insiders for their views on trends. With more options to work outside of the hospitality industry, operators must offer employees more scheduling flexibility, facilitate transparent communication between management and team members, and avoid overworking staff.

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2022 Food Supply Back of House Kitchen Safety 180

7 Shifts

FEBRUARY 15, 2024

The demands of the modern bar are significant: inventory issues, demanding customers, volatile prices, and — perhaps the biggest of all — staffing, scheduling, and other labor concerns. Bar management software is a tech-forward way to handle many of the elements necessary to operate a bar successfully.

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Inventory Bar Management Management 195

7 Shifts

FEBRUARY 15, 2024

The demands of the modern bar are significant: inventory issues, demanding customers, volatile prices, and — perhaps the biggest of all — staffing, scheduling, and other labor concerns. Bar management software is a tech-forward way to handle many of the elements necessary to operate a bar successfully.

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Inventory Bar Management Management 195

BNG Point of Sale

OCTOBER 13, 2021

They offer a wide range of hardware and software options to aid in everything from sales to management to accounting. Cash register/drawer. There are two types of POS software: front-end software, where transactions are processed, and back-end software, where analytics, sales, inventory and other important data is stored.

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POS Loyalty Program Point of Sale Cash Management 52

Goliath Consulting

OCTOBER 19, 2020

Aside from automatic doors, motion-activated faucets, touchless soap dispensers and paper towel dispensers, more hands-free options are likely to become increasingly implemented in the kitchen area, from touchless trashcans, doors, glove dispensers, sauce, to beverage dispensers.

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2021 Point of Sale Food Safety Kitchen Safety 135

The Restaurant Times

NOVEMBER 22, 2021

A restaurant consultant can help you with a range of things, including providing professional advice on concepts, design, location, financing, menu, and many other elements that influence the success of your restaurant. Menu Design . Menu Design . A restaurant menu is more than a simple portfolio of culinary products.

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Food Safety Cash Management Design Customer Service 52

Restaurant365

OCTOBER 14, 2020

Balancing cash flow month to month, let alone year to year, can be difficult for the ever-changing restaurant industry. As a restaurant owner or manager, you can use a budget to understand your income and expenses, and at what levels you will profit, break even, or operate at a loss. And yet, in times of uncertainty, like the COVID-19.

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Point of Sale Email Marketing Cash Management Advertising 78

Next Restaurants

MAY 26, 2020

High-end restaurants that tend to have a pricier menu should look to add more affordable “fast” food to their offerings. With less inventory and even fewer customers coming in, we recommend that you widen your margins and revamp your offerings. Instead, you can reach a compromise in your menu. Offer Disposable Menus.

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Webinar Social Media Food Safety Cash Management 89