Restaurant365

MAY 26, 2020

To calculate your CoGS totaled during a given period, you can use the following formula: Beginning Inventory + Additional Purchases Made During the Period — Ending Inventory = CoGS. As you reopen your dining room, it is more important than ever to stay on top of your inventory management. Dial in your Cost of Goods Sold.

Point of Sale 148

Point of Sale Employee Relations Inventory Waste 148

Hot Schedules

MARCH 31, 2020

Impact on Unemployment Insurance. Employees who experience reduced hours, furloughs, or layoffs should be encouraged to file for unemployment insurance as soon as possible. Managing Inventory in the Days of COVID-19. Managing inventory these days can be a real challenge. COVID-19 Legislative Actions: What to Know Now.

Website Management 120

Website Management Employee Relations Insurance Small Business 120

Restaurant365

OCTOBER 22, 2021

Typically, your total labor cost accounts for “fully burdened labor”, which includes your hourly and salaried wages, payroll taxes, benefits like health insurance or vacation days, bonuses, overtime, and more. An accurate CoGS relies on up-to-date numbers from your inventory management system. How to calculate net profit.

Point of Sale 78

Point of Sale Insurance Inventory Cash Management 78

Restaurant365

MARCH 25, 2020

Before repurposing your FOH staff for delivery, check with your insurance carrier to ensure that you’re covered for off-premise activity. If you’re properly insured for delivery, you can keep your servers, bartenders and other FOH staff working during this uncertain time. Use staff for delivery. Trim menu offerings in the short term.

Delivery 107

Delivery FOH Front of House Mobile Ordering 107

Hot Schedules

MARCH 29, 2021

Read More Health Insurance Requirements for Small and Medium Businesses Health insurance is one of the most important benefits an employer can offer, regardless of size. Where Business Meets Technology. Assen Kapitanov on His Journey as a Product Owner at Fourth.

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Technology Insurance Healthcare Recruiting 148

Restaurant365

SEPTEMBER 23, 2021

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?

Cash Management 147

Cash Management Point of Sale POS Inventory 147

Restaurant365

DECEMBER 17, 2019

Recurring restaurant costs would include costs like lease or mortgage payments, employee salaries, food and beverage costs, utilities, insurance and permits. Fixed costs such as insurance, rent, and loan payments do not fluctuate month to month. It includes tools for scheduling , inventory control , fixed asset management and more.

Point of Sale 120

Point of Sale License Insurance Employee Relations 120

Restaurant365

FEBRUARY 19, 2020

Non-controllable costs, like the fixed costs of rent, insurance, and salaries, are predictable expenses. Occupancy expenses: fixed costs like rent, property taxes, and insurance. For example, restaurants tend to have a large, fast-changing inventory with a limited shelf life, which affects food cost calculations.

Point of Sale 120

Point of Sale Cash Management Inventory Consumer Goods 120

Restaurant365

AUGUST 25, 2020

Too much inventory. Common fixed costs include: Rent, insurance, and property tax. Keep Inventory Low. If your restaurant sales are not covering your expenses or if you have extra inventory in your walk-in or dry-storage that just isn’t moving, it may be time to update your restaurant menu. High labor to sales ratio.

Cash Management 97

Cash Management Seasonal Menu Inventory Email Marketing 97

Harbor Touch

NOVEMBER 21, 2022

This blog post will give you some valuable tips on how to open a bar that will keep people coming back for more. Also, understand all the costs associated with opening a bar such as insurance, licenses, staffing costs , etc. This can be a very lucrative business venture, but it is essential to do your research first.

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Bar License Restaurant Law POS 78

BNG Point of Sale

SEPTEMBER 2, 2021

This blog post will go over the typical restaurant overhead costs and expenses, including rent, utilities, labor wages for employees, licenses and permits, food cost percentages, and more. The costs in this budget include the rent payments, the salaries, insurance, property taxes, and everything else. Business insurance .

Employee Relations 52

Employee Relations License Point of Sale Food Supply 52

The Restaurant Expert

JANUARY 24, 2019

The prime cost formula is your total cost of goods sold (to be calculated properly requires weekly or monthly inventories to calculate use because purchases divided by sales are NOT accurate), plus your total labor cost, including taxes, benefits and insurance, then divided by your gross sales (sales before discounts, not including sales tax).

Insurance 54

Insurance Point of Sale Inventory Download 54

Hot Schedules

NOVEMBER 12, 2020

Ensure you have copies of compliance certificates for all of your suppliers, such as insurance and health and safety documents to ensure you are working with a supplier that follows good working practices. To find out how to cut costs, not corners, to effectively manage your supply chain check out our procurement and inventory guide.

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Supplies Management Management Allergens 78

Restaurant365

OCTOBER 23, 2019

It’s important to note that COGS doesn’t include one-time, non-inventory-related costs, like repairs for a broken oven, new barstools, restaurant decorations, or utility bills. Labor costs include the total wages your employees have earned during that specific period of time, payroll taxes, benefits, and insurance.

Point of Sale 74

Point of Sale Inventory Employee Relations Insurance 74

Restaurant365

MARCH 18, 2020

Consider reducing your food costs by limiting the number of menu items in a way that allows you to streamline your inventory. Consider offering a takeout menu that simultaneously allows you to slim down your inventory and minimize your prime costs. Common fixed costs include: Rent, insurance, and property tax.

Point of Sale 158

Point of Sale Delivery License Inventory 158

The Restaurant Group

SEPTEMBER 16, 2020

Now more than ever, health insurance is essential to employees’ wellbeing. Unsurprisingly, as sales sharply declined, many establishments found themselves with sitting inventory. As always, the industry’s ingenuity shined through as many restaurants began to offer their inventory up for sale in creative ways.

Online Ordering 148

Online Ordering Delivery Point of Sale Customer Service 148

Restaurant Clicks

JANUARY 9, 2020

Apply for Permits, Licensing, and Insurance. Have a good idea of what style of food you plan to serve, what ingredients you’ll need, and how much you’ll spend on food inventory. . Factor in rental costs, equipment, food inventory, staff salaries, permit costs, marketing, and necessary start up capital, and the expenses can pile up.

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License Equipment Website Management Hiring 78

Restaurant365

OCTOBER 15, 2021

Your restaurant labor cost includes everything your restaurant spends on labor, from salaries and hourly wages to payroll taxes, bonuses, and benefits like health insurance or vacation days. Total labor cost. Here are a few helpful labor cost terms, along with how they are related to your total labor cost.

Management 148

Management Management Point of Sale Employee Relations 148

Mad Mobile

JANUARY 30, 2024

In this blog, we will share the advantages of using a tableside ordering system that can elevate your establishment from good to delicious. Paying at the table through the server’s mobile POS solution is another option where the customer gets insurance of a safe transaction since everything is processed in front of them.

Ordering 40

Ordering Mobile Ordering Customer Service Customer Experience 40

Restaurant365

OCTOBER 1, 2021

Gross profit doesn’t account for other critical operating expenses, like your labor cost, as well as other elements of your overhead like rent and insurance. An integrated point of sale (POS) system, accounting software, and inventory management system allow you to understand your food costs and examine efficiencies.

Point of Sale 78

Point of Sale Food Truck Inventory Loyalty Program 78

Restaurant365

APRIL 1, 2020

For a restaurant, your operating cash flow expenses include everything you need to be in business, such as the cost of your food and drink inventory, payroll, utilities, insurance, and rent, as well as expenses like interest on a loan or payments on equipment. Calculation example. Have a cash flow forecast.

Cash Management 98

Cash Management Management Management Point of Sale 98

Restaurant365

APRIL 20, 2022

These are taken by media (84%), insurance (83%), IT services (81%), telecom (78%), banking (75%), and retail (63%). Our back-office management solutions cover accounting , payroll , scheduling , inventory , manager logbook , and more to give you the insights and intelligence to identify what’s working and what’s not.

Loyalty Program 78

Loyalty Program Customer Service Employee Relations Customer Experience 78

Restaurant365

OCTOBER 14, 2020

Prime cost is made up of the cost of goods sold, or CoGS (the food and beverage inventory you purchase to make the menu items you sell) and your labor costs (the staff you need to run your business). Operating expenses also include fixed costs like your rent, utilities, or insurance. Understand Prime Cost. Calculate Net Income.

Point of Sale 78

Point of Sale Email Marketing Cash Management Advertising 78

Restaurant365

MARCH 15, 2022

If you can’t afford a full health insurance package, consider benefits that are popular among many restaurant employees, such as: Same-day pay. Building relationships with your staff is a crucial part of comprehensive approach to employee retention It’s the number one insurance toward retention. Try releasing benefits one at a time.

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Hiring Cash Management Insurance Communication 78

Restaurant365

AUGUST 19, 2020

for employers with 50 or more full-time employees and self-insured employers of any size. Under the ACA, employers are required to offer full-time employees compliant health coverage and also file information about this offer to the IRS. Reporting is required.

Restaurant Law 131

Restaurant Law Recruiting Employee Relations Food Safety 131

Restaurant365

APRIL 19, 2022

Your total restaurant labor cost includes all expenses related to labor, from salaries and hourly wages to payroll taxes, bonuses, overtime, worker’s compensation, and benefits such as health insurance. These are your fully burdened labor costs and must be used in your labor analysis.

Point of Sale 78

Point of Sale FOH Front of House Back of House 78

Restaurant365

AUGUST 19, 2021

Restaurant accounting covers all areas of your business, even inventory. While you may think of your restaurant inventory as part of operations, restaurant inventory management should also be considered an accounting function. So, inventory has an important place in your restaurant accounting.

Inventory 147

Inventory Management Management Employee Relations 147

7 Shifts

MAY 11, 2020

Run through our guide to reopening your restaurant to plan your labor, inventory, marketing, and more so you can reopen with a bang. With many restaurants opening at the same time, there are bound to be delays in delivery of supplies and inventory, so it’s better to get ahead. Suppliers: ??

BOH 368

BOH FOH Food Safety Equipment 368

Sling

JUNE 9, 2023

Step Two : Take inventory of all the food supplies you have on hand at the start of the month and calculate a total dollar value for the entire inventory taken. This will be your Beginning Inventory. Step Three : Add the value of any Purchased Inventory you made during the period of choice. You pay $2.04 for the butter.

Operations 78

Operations Inventory Food Supply Point of Sale 78

Sling

JUNE 4, 2023

Important restaurant ratios to know 1) Cost of goods sold percentage To calculate cost of goods sold (CoGS) percentage, you’ll need to first tally the value of your inventory, the value of any new inventory purchased, and the value of your ending inventory. one month). one month).

Inventory 78

Inventory Article Blog Food Supply 78

Apicbase

JUNE 16, 2023

By regularly tracking his inventory and procurement metrics, Fabio was able to reduce his kitchens’ food costs by 18%. This blog provides an organised overview of the key metrics multi-site restaurant brands should track. Get a 360-view of your sales & inventory data Adopt restaurant analytics software.

Point of Sale 52

Point of Sale Inventory Waste Employee Relations 52

Restaurant365

APRIL 15, 2021

This blog post was originally published on September 10, 2019 and updated on April 15, 2021. COGS is the total cost of the inventory you used to make the food and beverage items you sold during a specific time period. A P&L statement can provide valuable insight into the net income and bottom line for each of your store locations.

Point of Sale 78

Point of Sale Cash Management Beverage Insurance 78

Modern Restaurant Management

SEPTEMBER 25, 2020

The UpFlip team interviewed the Vet Chef crew to find out, and for those questions that weren’t answered in the interview, you can find them on the UpFlip blog. Gorlie’s initial investment on the Vet Chef’s opening day was $41,200, and that includes the food inventory for their first service. Lower start-up expenses.

Food Truck 228

Food Truck Food Food Safety Point of Sale 228

Restaurant365

FEBRUARY 25, 2020

Your restaurant profit margin can be influenced by food and inventory trends, your geographic location, the state of the broader economy, and a wide range of other factors. Cost of goods sold (CoGS) refers to the total cost of the inventory used to create food and beverage items during a specific period of time.

Loyalty Program 183

Loyalty Program Fast Casual Point of Sale Online Ordering 183

Restaurant365

MARCH 30, 2020

Expanding “off-premise” insurance coverage. Start with the following: Revisit your insurance policy. Your first step will be to call your insurance provider and inquire about on-premise versus off-premise coverage. Depending on your specific situation, expanding your insurance can add up very quickly.

Delivery 78

Delivery Operations Insurance Cash Management 78

Restaurant365

MAY 14, 2021

As a store-level restaurant manager, you’re used to managing your inventory. You consistently track what’s going in and out of your kitchen so that you can better understand how your inventory is moving and where you can make improvements. Why you need to understand your restaurant’s P&L statement. Prime Cost.

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Management Management Point of Sale Inventory 78