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Culinary and Cocktail Trend Forecasts Kimpton is returning with its annual Culinary + Cocktail Trend Forecast highlighting predictions from its global team of restaurant and beverage talent. Freeze-Dried Fruit & Veggie Powders Freeze drying fruits or vegetables enhances both flavor and texture in beverages.
Steady Online Ordering Brings Food Waste, Donations to the Forefront of Priorities Ordering food online increases restaurant sales, but it also can potentially increase wasted food if proactive measures aren’t taken – for both the business and consumers at home. This speeds up order processing and streamlines operations.
Accuracy of food order leads the way at 88, while beverage quality and waitstaff performance both score 86. Popeyes (up 4 percent to 75) looks to build on gains by rolling out its “Easy to Run” initiative to standardize processes, improve order accuracy, and reduce wait times.
Introduction In the fast-paced world of restaurants, keeping a close eye on your inventory is as vital as the secret sauce in your signature dish. Proper inventory tracking helps reduce waste, control costs, and boost profits. What Is Restaurant Inventory Management? Key Components of Restaurant Inventory Management 1.
Hoteliers and restaurant operators are increasingly demanding POS systems that seamlessly connect with CRM, loyalty programs, reservation systems, inventory management, and payroll. They appreciate restaurants that use AI and data analytics to anticipate their needs, remember their preferences, and offer seamless ordering processes.
Your cost of goods sold (ingredients, beverages, packaging, etc.) Keep them too low, and youre losing your net profit margin every time someone orders. Drive more direct orders Make it easy for customers to order straight from your website or mobile app. added up to $60,000.
Real-Time Inventory Tracking offers a powerful solution by giving operators instant visibility into whats in stock, whats being used, and what needs to be reordered. It also streamlines the ordering process, ensuring that every ingredient is purchased and used with purpose.
Cost of Goods Sold (COGS) Cost of Goods Sold tells you how much it actually costs to make the food and beverage sales you sell. This includes kitchen ingredients, beverages, and packagingbasically, all of your raw materials. If your Cost of Goods Sold is too high, your profit margins sufferno matter how packed your dining room is.
One of the most effective tools for achieving this is mobile inventory management. This system helps restaurant owners and managers track stock in real-time, reduce waste, and maintain optimal inventory levels. By automating inventory processes, restaurants can save time, improve accuracy, and enhance overall efficiency.
It’s like knowing how to make a schedule, do inventory, or cover a section of tables if a server calls out sick and you’re shorthanded. If you’re using a restaurant management system or inventory management system, you may already have this data on hand. Use your order history and volume to ask for better deals.
Food Costs (COGS) Your food costs, or cost of goods sold (COGS), include everything that goes into producing your menu items, including: Recipe ingredients Beverages Condiments Disposables, like to-go containers, straws, and napkins Tracking your food costs percentage helps you understand how much of your revenue is being spent on your menu.
This reflects the positive impact loyalty programs have on driving revenue, with 83 percent of restaurant leaders saying their loyalty program successfully drives up order or basket size, as well as repeat visits (82 percent) and return on investment (78 percent). ” A Year of Challenges U.S.
In the restaurant business, operating costs are the day-to-day expenses required to keep your doors open and your kitchen firingeverything from rent to payroll to the packaging your to-go orders go out in. If youre pushing out more orders, getting more ingredients, and staffing more servers, these costs will reflect that.
How do you handle multiple tables and orders at once? What steps would you take if a customer received the wrong order? How do you maintain accuracy when taking orders for large groups? How do you handle multiple tables and orders at once? What does excellent customer service mean to you? How did you resolve it?
According to a Gallup poll, guests only look at your menu for 109 seconds before ordering. Like entrees, beverages, sides, or appetizers. Ideally, you should be tracking these with inventory management software. If you want to get that granular, inventory management software is the way to go. Here are some ways to start.
Leverage POS Systems : Tools like Lavu POS automate inventory tracking, reduce order errors, and provide real-time insights. Start by tracking inventory, analyzing menu performance, and negotiating with suppliers to cut costs and boost profits. Log spoilage through inventory adjustments. Whole Wheat Bun $0.30 0.30 = $17.17
The top planned investments include online ordering software (35 percent), marketing software (32 percent), and accounting software (32 percent). Business Credit Creates a Valuable Asset Your restaurant isn't just your passion—it's also an asset that has value beyond its physical inventory and real estate.
Takeout Specials Super Bowl Sunday is a peak day for takeout orders, so be sure to offer a dedicated takeout menu for those who prefer to enjoy the game at home. By using a platform like TouchBistro Online Ordering, you can streamline orders, avoid third-party commissions, and handle more orders efficiently.
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. Customers can order online as a guest or create a profile, then order the food through their preferred delivery platform, pay, and anticipate delivery.
The new concept features a modular 60m² footprint with six-week fit-outs, integrated digital ordering kiosks, a localised food counter, and reduced back-of-house requirements. (Chieri, Italy) Tue, 10 Jun – Pret A Manger unveils streamlined UK store format to accelerate regional roll‑out.
Track and Categorize Expenses From food and beverage purchases to cleaning supplies, marketing costs, and utility bills, every expense needs to be recorded and categorized correctly. COGS tracking, tip reporting, inventory management). Regularly review your inventory levels, food waste, and vendor invoices.
That model allows the chain to invest more labor in the kitchen, where car-friendly salads and wraps are made to order. Entrée salads can be ordered as a wrap for drivers to eat one handed, for example. Kern said Greenlane has found savings by ordering direct, rather than going through a distributor. Photo courtesy of Greenlane.
From streamlining orders to managing inventory and staff, these systems provide the tools restaurant owners need to stay competitive in 2025 and beyond. Improved Efficiency: Faster order processing, reduced errors, and better table turnover. Data Insights: Real-time data helps optimize staffing, menu adjustments, and inventory.
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. Enhances Order Accuracy: Directly sends orders to the kitchen, cutting mistakes by 25% and improving customer satisfaction.
This has led to many perks for consumers, such as reduced wait times, contactless ordering, and more personalized offers and rewards. The market is influenced by evolving consumer lifestyles, the growth of digital ordering, and consumer demand for convenient and affordable dining. percent from 2025 to 2033 and reach US$ 345.6
However, the industry has renewed optimism, driven by the adoption of digital and mobile ordering, menu creativity and heightened expectations around AI. Similarly, 59 percent of respondents believe mobile apps that offer easy online ordering will have the greatest impact on operations over that same time period.
By closely monitoring and optimizing this percentage, restaurants can better manage their inventory, minimize waste, and lower their overall expenses, ultimately maximizing cost reduction. Examples of variable costs for a restaurant include food and beverage costs, costs associated with labor, and utilities.
Restaurant accounting is the process of interpreting and analyzing the revenue, cash flow, inventory, and income statements of a restaurant. Let’s start with some basic terms: Cost of Goods Sold (COGS): This is the cost of all the items and ingredients on your menu (Beginning Inventory + Purchased Inventory – Ending Inventory).
Then costs go in order from most controllable to least controllable. Your P&L line items should be consistent with the ones on different platforms—POS, inventory management, and accounting software. That could simply be food sales , alcohol , and non-alcoholic beverages. Sometimes these are broken down differently.
Accounting must track and analyze performance across peak and off-peak seasons, affecting revenue recognition, staffing, and inventory management. 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.
Whether its managing inventory, handling online orders, or running loyalty programs, the right integrations can turn your POS system into a powerful tool for efficiency. Inventory Tracking : Monitor stock levels, reduce waste, and automate reordering. Plus, it automatically updates inventory and sales data as orders come in.
Optimizing the Bar Program with Digital Tools Beverages, especially alcoholic ones, offer some of the highest profit margins in the restaurant industry. To enhance profitability: Implement an inventory management software to track liquor usage and reduce waste. Creating customizable prix fixe menus for groups with easy online ordering.
Set ideal food cost percentage Food cost percentage is the ratio of total dollar amount it takes to procure food to the revenue that's generated when a guest orders the item. Food inventory management software that integrates into your POS can help you track cost per menu item, reduce waste, and make more informed ordering decisions.
Effective bookkeeping and financial management, including proper inventory and labor cost control, are vital for the financial success of nightlife venues. Bars typically have a simpler food menu but a more complicated drink menu, while restaurants deal with a more extensive food inventory and simpler drink lists.
From reducing labor needs to improving order accuracy, restaurant technology solutions can help you operate more efficiently and serve customers better. With the rise of digital payments and online ordering , integrating technology into restaurant operations is essential to meet modern consumer demands. Live Check. Reduced errors.
This can be done through surveys or focus groups, which will help in determining the types of food and beverages to offer. It offers features like inventory management, employee management, and reporting, which can be beneficial for corporate cafeterias. What are the first steps in how to open a corporate cafeteria?
Food/Beverage Sales: What percentage of your revenue should be coming from food and what percentage of sales are from beverages. Voids: This is the cancelation of an order, usually due to error. Their financial health often hinges on a strong beverage program and optimized labor.
From inventory management to staff scheduling, managers need to master the operational backbone that keeps the business running at a high standard. Inventory control Understand how to keep track of your inventory, place orders efficiently, and minimize waste. Create checklists for different service roles.
Gross profit margin subtracts only the Cost of Goods Sold (COGS) to determine the profitability of your food and beverages, while net profit margin subtracts all your costs to determine the profitability of your entire operation. Your Cost of Goods Sold are your food and beverage costs along with the cost of any merchandise you sell.
However, here are a few benchmarks: Quick-service restaurants tend to hover around 17% , due to high order turnover, automation, and relatively inexpensive ingredients. This included not only receipts from tableside sales, but also from any takeout orders. Typical restaurant margins vary considerably due to a range of variables.
Their expertise in hospitality accounting solutions can help ensure the restaurant’s financial services are in order. A restaurant accountant focuses exclusively on the financial aspects of a restaurant, such as revenue tracking, payroll, and inventory costs. Their expertise is honed on the complexities of food service finances.
They require specialized support that understands the intricacies of fluctuating revenues, high labor costs, and complex inventory management. Complex Tax Regulations: The industry faces specific tax considerations related to food and beverage sales, lodging taxes, and tip income, demanding expert knowledge for compliance.
You need to manage everything from costs and inventory to menu design to get this balance right. When restaurants fail to manage their food and beverage offerings properly, all kinds of problems start to crop up quickly, often within just a few weeks. You update your app, online menus, and order kiosks—all in one go.
Whether you support the president as he tries to remake global trade or are expecting a recession sometime this year, there’s no question this “new world order” will have a huge impact on our businesses. Use technology to streamline inventory management, ordering and other day-to-day tasks. Optimize Operations.
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