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There is an opportunity for restaurants that can modernize in a way that meets the needs of the diner while simultaneously overcoming food, labor, and technological challenges to run more predictable and profitable businesses. It certainly isn’t an easy proposition – but a holistic approach to restaurant modernization is critical.
Photo: Shutterstock Value, convenience and food quality are the three big drivers that will draw consumers into a restaurant for breakfast. Meanwhile, dine-in visits have increased in fast-casual and fast-food restaurants, while takeout and drive-in orders are down. By Patricia Cobe on Jul. Sign up here.
"These tariffs could deeply affect the food service and hospitality industries on both sides of the border," Alex Thalassinos, President of Silverware POS, one of the first tech providers dedicated to Canada’s hospitality industry, told Modern Restaurant Management (MRM) magazine.
A spike in food costs, a drop in sales volume, or one slow season can wipe out months of hard work. They tell you how much money your restaurant keeps after paying for everything from food costs to labor expenses to utilities and rent. Your cost of goods sold (ingredients, beverages, packaging, etc.) added up to $60,000.
In this article, you will learn: The five most important restaurant costs to track and manage Easy strategies for controlling food costs and labor costs Tactics to save money without hurting your guest experience Lets start with the big picture and learn where your money is actually going.
Many restaurants didn’t even use smart POS systems consistently. Today, we can pull POS data, website analytics, social media insights, and CRM reports to make data-backed decisions and track ROI in real-time. Cultural Exposure : Thanks to food TV and social media, more people now appreciate the craft behind hospitality.
Every restaurant owner should know their food cost percentage—it’s one of the clearest indicators of whether your restaurant is running effectively or if you’re missing opportunities to optimize your business. Food cost percentage is the percentage of your total food sales that goes toward the cost of the ingredients used to make your dishes.
A customizable POS system gives restaurants the power to adapt, integrate, and innovate without being locked into rigid software limitations. Whether you’re connecting loyalty programs, online ordering, or inventory tools, open APIs make it possible to tailor your POS to match your exact operational needs. What is an Open API?
With a POS system like SkyTab and solid accounting software, you can track it all without losing your mind. A restaurant POS system like SkyTab, though, has no upfront cost, just $29 per month. For his SkyTab POS, he deducts the $29 monthly fee as an ongoing expense. Employee Meals: Free Food, Free Savings Feeding staff on-site?
That’s why more restaurant owners are turning to an iPad restaurant POS system to modernize operations, reduce costs, and enhance customer service. Unlike traditional POS systems, iPad-based solutions offer mobility, intuitive interfaces, and cloud-based functionality — making them ideal for restaurants of all sizes.
How do you handle special dietary requests or food allergies? Use this interview question to explore the candidate’s familiarity with food service operations. Aside from providing the best dining experience, order-taking accuracy can help you avoid food waste and unnecessary costs. What restaurant tools have you used?
Running a successful restaurant in 2025 isnt just about serving great food and offering good serviceit also requires the right technology behind the scenes. POS integrations have become essential for streamlining daily operations, reducing errors, and allowing staff to focus more on the customer experience. POS integrations can help.
Running a successful restaurant today requires more than great food and friendly service—it demands smart technology that drives efficiency. A well-designed POS system improves restaurant operations by streamlining order management, speeding up transactions, and delivering real-time insights that help optimize every aspect of the business.
Definition and Purpose of Inventory Management in Restaurants At its core, Restaurant Inventory Management involves tracking and controlling the ingredients and supplies that flow in and out of your restaurant. Prioritizing it leads to: Lower food costs by minimizing spoilage and overordering. Reduces food waste and saves money.
For weekly or more in-depth reporting, accounting software that integrates with your POS system is recommended. Your P&L line items should be consistent with the ones on different platforms—POS, inventory management, and accounting software. Those sales line items should match the ones in your POS reporting.
For example, repositioning prep stations or food pickup points can reduce unnecessary back-and-forth. Simplifying service paths: Optimize the positioning of key service stations, such as beverage counters or POS systems, to reduce staff travel distances and speed up service times. Automate processes to save time and energy.
The salad chain said it also sees opportunity in California, where the fast-food minimum wage is $20 per hour. Members help make our journalism possible. Sweetgreen says its high-tech Infinite Kitchens could mitigate the impact of a $30 minimum wage being proposed in New York. Sign Up Thanks for signing up!
Bengaluru, India) Wed, 25 Jun – Conflict in the Middle East may disrupt coffee supply chains and raise costs, although ceasefire holds steady. The London-based chain experienced 28% year-on-year growth, driven by its 22 stores, wholesale operations, e-commerce, and office coffee supply, with the addition of 60 new corporate contracts.
The restaurant business is a dynamic, fast-paced world where passion for food and hospitality often takes center stage. It’s also vital for verifying deposits from your POS system. Close Out Sales, Tips, and POS Reports Your Point of Sale (POS) system is a treasure trove of sales data. Are you meeting your targets?
Managing food costs is a growing challenge for restaurants as ingredient prices fluctuate and margins shrink. With real-time data guiding inventory decisions, restaurants can take tighter control of their food costs and boost long-term profitability. Improves Compliance : Ensures proper storage and food safety standards.
Running a successful restaurant isn’t just about great food and service—it’s also about smart financial management. You probably joined the industry to make delicious food to serve and create a great environment for your patrons. It includes all the cost incurred on food and beverage, payroll, taxes, and benefits).
Restaurants and Food Service: Including fine dining, fast casual, QSRs, cafes, and catering. Point-of-Sale (POS) Integration: Seamless integration with POS systems is critical for capturing sales data, managing inventory in real-time, and ensuring accurate revenue reporting.
Running a successful restaurant in 2025 means more than just great food—it requires smart financial decisions. Use these Calculations to Maximize Cost Reduction The food cost percentage is the number one calculation that restaurants can use today to maximize their cost reduction. Food cost control is crucial.
Becca McIntyre, Beans & Brews Coffee House Beans & Brews Coffee House appointed Becca McIntyre as VP of supply chain and culinary. Separately, both have previously held leadership roles in chains including Pollo Campero, Salata, Schlotzsky’s, Popeyes, Arby’s, Applebee’s, Papa Johns and more.
The experience is available with a spirit-free beverage pairing, and the restaurant’s website notes that the chef is “over five years sober.” Konro is a Japanese-inspired concept known for a 10- to 14-course tasting menu, served at a chef’s counter with only 10 seats.
Point-of-Sale (POS) System Integration: Seamless integration of POS data into accounting systems is crucial for real-time sales tracking, accurate revenue recognition, and identifying trends. Knowledge of Industry-Specific Tools: Are they proficient with common hospitality POS systems (e.g., Opera, Cloudbeds)?
A single percentage point difference in food costs or labor can be the difference between profit and loss. Vendor Disputes: Without proper documentation of invoices and payments, disputes with suppliers can escalate, damaging relationships and potentially disrupting supply chains. Learn more about our Accounting Services !
Joining forces will allow the company to connect the dots between restaurants’ inventory, food prep and order flow, allowing operators to serve customers faster and more profitably, the companies said. “We chains as the restaurant tech market continues to consolidate. chains as the restaurant tech market continues to consolidate.
As economic pressures and fluctuating food costs persist, these technologies will be critical for maintaining profitability and ensuring long-term sustainability. Younger generations are increasingly favoring restaurants that prioritize sustainability… local sourcing, reducing food waste, energy efficient operations.
Unlike general business accounting, restaurant bookkeeping services need to account for elements like fluctuating food costs, labor issues, and seasonality. Revenue Management : Hospitality accounting involves tracking multiple revenue streams, such as rooms, food, and beverage sales.
You’ll need to memorize dozens of cocktails, beer and wine lists, happy hour rules, and, more often than not, entire food menus. The cons: Like all jobs, serving people alcoholic beverages night after night has its downsides. It is the fastest way to learn how to bartend.
The turmoil caused by the pandemic has disrupted global supply chains more than any other period in recent history. It has highlighted the critical importance of evolving supply chain systems to be more responsive and agile to the changing dynamics around us – which the past two years have been extensive.
The key to operating a profitable restaurant is understanding your profits and losses, knowing how to manage food and labor costs and making strategic decisions about expenses and investments. Historical sales levels can indicate what food, beverages, and supplies you need to buy for the next comparable sales period.
Reopening restaurants with current supply chain issues makes this once rare scenario seem to be a weekly occurrence. With the increasingly frustrating variables in the current restaurant industry, beveragesupply chain does not need to be the straw that breaks the camels back.
Rebounding demand, supply chain issues, and labor shortages are mostly to blame for driving prices to an all-time high. Not only is your menu a key part of the customer experience but consider all major areas of restaurant operations, such as food cost, labor, marketing, accounting, and sales forecasts when making decisions about your menu.
It’s relevant today because it helps restaurant leaders contend with enduring issues like crisis recovery, demand fluctuations, food waste, keeping the human touch, managing change, and retaining employees. For this hour, the barista might work the two-beverages-at-once cycle. They would remain focused only on that task.
Supply chain issues and Covid-19 are not making it easy to run a bar right now. With many municipalities modifying laws on delivery and to-go alcoholic beverages, restaurants have a lot of room to get creative. Most restaurant alcohol delivery programs function like food programs. Drinks require less than an ounce of spirits.
These include marketing, website development, omnichannel payments and point-of-sale (POS) solutions. "We're Tastewise, an AI-powered food intelligence solution, launched in the UK. ” “Tastewise has been incredibly valuable in helping us to uncover white spaces in the food and beverage industry.
According to the National Restaurant Association’s State of the Industry report, 68 percent of customers say they are more likely to purchase takeout or delivery of food than they were before the pandemic. Food and beverage sales in the restaurant and foodservice industry are projected to total $789 billion in 2021, up 19.7
Set your alarms and make sure you're ready, as it's expected that the demand will outweigh the supply of funds. Work with your POS partner to see how they can assist in getting the applications sent as soon as possible. Any establishment that serves food or beverages to guests is eligible. Food trucks, carts, or stands.
Unprecedented labor and supply chain pressure will drive most of the restaurant trends that will define 2022, industry analysts say. Diners simply don’t want the low food quality that often comes with long menus. These restaurant food trends can directly impact a restaurant’s profitability.
Not only do you have to manage many costs including, labor, equipment, and food—but you have to do it while dealing with inevitable price increases. Whether it’s food cost increases due to inflation or a labor cost rise due to rising minimum wage, cost increases, like taxes, are pretty much a guarantee in the restaurant industry.
AI-based robots cook your food and deliver meals on time without missing a beat. Local health lockdowns and limitations caused havoc for foodsupply chains, staffing, customer demand, and remote ordering. Many restaurants were ill-prepared to compete with food delivery services like GrubHub and DoorDash.
Forecasting tools enable managers to purchase food, beverage, and supplies at the right level. Integration between the POS and inventory management software allows inventory to be managed from end-to-end by automating steps such as tracking recipes, uploading invoices and auto-updating item prices.
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