Restaurant365

MARCH 10, 2022

With food costs running at approximately 30% or higher, learning importance of inventory management and how to prevent common mistakes is critical in successfully driving down costs and maximizing profits. First, let’s break down the two types of inventory costing, Actual and Theoretical.

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Inventory Management Management Merchandise 78

Margin Edge

OCTOBER 19, 2021

Out of every ounce of food you purchase, it is guaranteed that not all of it will end up on your guests’ plates. Wasting food in and of itself isn’t a cardinal sin (unless you ask our mothers), but the degree of variance between what you use and what you sell can get you in trouble with your bottom line.

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Waste Food Inventory POS 75

Restaurant365

MAY 27, 2021

Your biggest restaurant expenses—food and labor costs—make up your prime cost. Optimizing your prime cost takes data, insights, and sustained effort, but it can directly add profit back to your bottom line. How to calculate restaurant prime cost. Set a prime cost reduction goal.

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Point of Sale Inventory Waste Food Order 78

Restaurant365

JULY 21, 2021

On any given day, you may be receiving multiple food and beverage shipments from different vendors, farmers, or distributors. How do you keep track of all these different shipments and ingredients to minimize food waste, ensure you are prepared for service, and optimize what you’re spending on your ingredients?

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Restaurant365

DECEMBER 11, 2020

operators, mostly sales) minus your cash outflows (your operating costs, like food and drink, payroll, rent, etc.) Your Cost of Goods Sold (CoGS) is the total cost of your food and beverage ingredients over a specific period of time. The year 2020 prompted enormous changes in the restaurant industry.

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Restaurant365

JANUARY 13, 2021

Controlling your restaurant’s prime cost, made up of your cost of goods sold (CoGS) and labor costs, is critical to your profitability. Prime cost represents the two largest controllable costs for your restaurant – food and labor. So, how do you empower your store-level managers?

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Restaurant365

OCTOBER 29, 2019

Beyond generic business reports, advanced restaurant reporting solutions provide a number of detailed, specific metrics that you should be tracking with your restaurant reporting to ensure you’re optimizing your food and labor spend and increasing your profit margin. The basics of restaurant reporting. The basics of restaurant reporting.

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Restaurant365

NOVEMBER 19, 2020

Your restaurant food cost is pivotal to your business’ financial success. Everything from inventory management to recipe costing plays a role in controlling your cost of goods sold (CoGS). This lays the groundwork for all other advanced techniques for controlling restaurant food costs.

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Restaurant365

JUNE 15, 2021

Your restaurant is constantly generating data, whether from your sales revenue, food costs, or labor hours. Accurately tracking this data allows you to understand what areas of your restaurant operations need improvements, as well as where you can add more profit back to your bottom line. Track your cost of goods sold.

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Restaurant365

JUNE 24, 2020

Now it’s time to refocus on your bottom line. This requires not only increasing total sales, but also reducing costs. Understanding how to decrease controllable costs – food and labor are the big two — helps you drive operational improvements that can increase your financial outcome. Reevaluate your supply costs.

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Restaurant365

DECEMBER 20, 2021

Your restaurant group’s profit margin depends on two areas: top-line revenue and controlling expenses. Restaurant accounting teams can help connect operating and financial data at the store level, as well as zoom out to examine big-picture revenue and costs. Working with operations to set a prime cost goal.

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Margin Edge

FEBRUARY 24, 2022

The cost of goods sold, or COGS, are hands down something anyone who’s run a restaurant knows about. This blog looks at COGS basics (in case you want a refresher), their financial impact, the COGS you should be aiming for depending on your type of restaurant, and how and when to monitor them. Take sushi vs beer.

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Inventory Point of Sale Waste Fine Dining 82

Restaurant365

APRIL 14, 2020

Successful restaurant operations, in any kind of economy, depend on well-managed restaurant food inventory. Much of the typical food and beverage inventory in restaurants tends to have a relatively short shelf life, making accurate inventory numbers essential to run a functioning kitchen, make economical orders, and adapt to long-term trends.

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Restaurant365

JUNE 4, 2021

Every time you add another dollar to your bottom line, you have more budget to invest in new strategies, whether that’s improving the guest experience or even opening up new locations. Wages and food costs inevitably rise over time. As a restaurant owner or operator, you always have restaurant profitability on your mind.

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Restaurant365

SEPTEMBER 17, 2019

Your sitting inventory (in product or dollars) is one of the main factors influencing your food cost and your bottom line. While retail stores may monitor a detailed list of all goods and assets, restaurants usually focus on real-time supplies, like food items, ingredients, and beer, wine, and liquor.

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Restaurant365

MAY 17, 2022

Food inventory management goes way beyond counting the items on the shelves. Tight integration between your r estaurant inventory management software , point of sale (POS) system and restaurant accounting software is essential for executing key restaurant tasks that help control your food costs. That’s great.

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Inventory Management Management Food 78

Restaurant365

JUNE 22, 2021

As a restaurant owner or operator, keeping your food costs low is a continual challenge. Food cost is one of the largest expenses for your restaurant, and because it is a controllable cost, you can influence how it impacts your bottom line. Train your store-level managers.

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Compost Food Waste Front of House 88

Restaurant365

APRIL 1, 2021

Most importantly, store-level managers play a vital role in food and labor costs at their locations, so it’s imperative to guide them to prime cost goals, broken down by week, day and day part. How do store-level managers impact your restaurant group’s bottom line? Managers’ influence on hiring and employee retention.

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Restaurant365

JULY 9, 2020

Restaurant inventory management is the process of monitoring the food and beverage ingredients in your restaurant. Monitoring your inventory documents what food and beverage product is coming into your restaurant, what is leaving your restaurant as product sold, and what remains on your shelves and refrigerator. Sitting Inventory.

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Inventory Management Management Food Supply 78

Restaurant365

APRIL 16, 2021

Your gross profit margin is calculated by subtracting the cost of goods sold (CoGS) from your revenue. This number is helpful to understand a restaurant’s efficiency with food costs, but it doesn’t actually account for all of the wide-ranging operating expenses. Gross Profit.

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Restaurant365

SEPTEMBER 3, 2021

Your restaurant group may have accountants or bookkeepers who help keep your numbers in line. It is the part of business that works ‘on the business’ vs. ‘in the business’,” he said. As you examine how to optimize the profit margin for your restaurant group, there are two areas to consider: controlling costs, and increasing revenue.

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Restaurant365

AUGUST 4, 2020

Because food and beverage costs make up one of the two largest parts of your restaurant budget, your inventory method has large implications in your accounting. The key to minimizing food waste that can eat into your profits is effective restaurant inventory management. You invest a large amount of your budget in inventory.

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Inventory Management Management Cash Management 78

Restaurant365

JULY 14, 2021

Restaurant food waste is a pressing topic in the food and restaurant industry. Studies show that about 35% of all food produced in the United States goes unsold or uneaten. ” However, the impact of food waste doesn’t just stop at landfills. Start by auditing your food waste. Here are 15 practical tips.

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Waste Compost Food Inventory 78

Restaurant365

OCTOBER 30, 2020

Operations management involves designing the systems that not only save you time and energy, but that also ultimately add to your bottom line. Improper scheduling with your staffing can lead to ballooning labor costs over time. Daily issues with your inventory control can lead to food waste levels that skew your monthly margins.

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Restaurant365

OCTOBER 23, 2019

While many restaurant owners focus on increasing total sales, in order to add to your bottom line, you also need to focus on decreasing costs. Start with your restaurant’s prime cost, which makes up two of the biggest line items in your restaurant accountingbudget. What to Include In Your Prime Cost Formula.

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Point of Sale Inventory Employee Relations Insurance 74

Apicbase

JUNE 16, 2023

By regularly tracking his inventory and procurement metrics, Fabio was able to reduce his kitchens’ food costs by 18%. It’s money that went straight to his bottom line. This blog provides an organised overview of the key metrics multi-site restaurant brands should track. That’s the theory. In theory, it sounds easy.

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Point of Sale Inventory Waste Employee Relations 52

Restaurant365

FEBRUARY 24, 2021

What are the costs involved for integration to our POS system? However, a restaurant-specific accounting system that includes POS integration , without an additional cost, allows you to effectively pull detailed data automatically. But for multi-unit restaurant groups, generic accounting software such as QuickBooks presents challenges.

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Restaurant365

JANUARY 4, 2022

Restaurant inventory management plays a key role in overcoming the rising cost of food. Logistics challenges and labor shortages have fueled rising wholesale food prices. Prices have increased in the food sector for some time with ingredient values above levels for the same time last year. Food-grade oak flakes – 61%.

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Inventory Management Management Food 15

Restaurant365

JANUARY 13, 2021

Controlling your restaurant’s prime cost, made up of your cost of goods sold (CoGS) and labor costs, is critical to your profitability. Prime cost represents the two largest controllable costs for your restaurant – food and labor. Controlling your restaurant prime cost.

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Management Management Point of Sale Waste 15