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.

2021 136

2021 Cash Management Management Management 136

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. Theoretical Variance.

Inventory 78

Inventory Management Management Merchandise 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. Set AvT variance and other goals for managers by location.

Compost 88

Compost Food Waste Front of House 88

Restaurant365

OCTOBER 8, 2019

The cost of food is one of the biggest operating expenses for a restaurant business. With perishable ingredients and fluctuating sales, controlling food costs in restaurants can be extremely challenging. Your food costs and your inventory are big budget line items.

Food 99

Food Inventory Point of Sale Waste 99

Restaurant365

SEPTEMBER 3, 2021

Your restaurant group may have accountants or bookkeepers who help keep your numbers in line. As you examine how to optimize the profit margin for your restaurant group, there are two areas to consider: controlling costs, and increasing revenue. The restaurant industry moves at a fast pace, filled with data that changes by the day.

Waste 78

Waste Cash Management Point of Sale Inventory 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?

Inventory 78

Inventory Management Management Waste 78

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.

Inventory 78

Inventory Management Management Food Supply 78

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.

Loyalty Program 78

Loyalty Program Point of Sale Inventory Customer Service 78

Restaurant365

MARCH 10, 2020

Because food and beverage costs make up a large part of a restaurant budget, your inventory method has large implications for your bottom line. So, the key to minimizing food waste that can eat into your profits is effective restaurant inventory management. If it’s not on the shelf, it can’t be stolen, spoiled or wasted.

Inventory 103

Inventory Management Management Waste 103

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.

Point of Sale 78

Point of Sale Inventory Waste Food Order 78

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.

BOH 78

BOH FOH Point of Sale Back of House 78

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.

Inventory 78

Inventory Management Management Food 78

Restaurant365

OCTOBER 1, 2021

In the end, understanding how to calculate gross profit and net profit can help you understand the health of your restaurant business finances and where you can make helpful adjustments that add to your bottom line. Your gross profit margin represents what is left over after you sell a dish and subtract the food cost of making that dish.

Point of Sale 78

Point of Sale Food Truck Loyalty Program Inventory 78

Restaurant365

FEBRUARY 6, 2020

Restaurant bookkeeping involves financial and accounting practices that track your business’ detailed costs and revenue. Bookkeeping involves day-to-day finances and budgets, but effective bookkeeping practices also can help you make operational decisions about food, labor, and overhead costs. . Track Your Daily Sales.

Point of Sale 138

Point of Sale Inventory POS Cash Management 138

Restaurant365

FEBRUARY 19, 2020

Keeping track of your finances is time-consuming, and yet it has enormous implications for your bottom line. You also need to turn your focus inwards, increasing profit by analyzing and optimizing in-house costs using restaurant accounting. Labor costs: expenses associated with payroll, payroll taxes, and employee benefits.

Point of Sale 120

Point of Sale Cash Management Inventory Consumer Goods 120

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.

Point of Sale 78

Point of Sale POS Inventory Employee Relations 78

Restaurant365

MARCH 10, 2020

Because food and beverage costs make up a large part of a restaurant budget, your inventory method has large implications for your bottom line. So, the key to minimizing food waste that can eat into your profits is effective restaurant inventory management. If it’s not on the shelf, it can’t be stolen, spoiled or wasted.

Inventory 78

Inventory Management Management Waste 78

Margin Edge

FEBRUARY 3, 2022

With all that in mind, now more than ever, restaurants are looking for ways to lower food costs that don’t take up too much time or too many resources from already stretched thin operations. 6 Ways to Reduce Food Costs. Track key item costs. Corporate Executive Chef Stephen Lyons, Clyde’s Restaurant Group.

2022 98

2022 Food Seasonal Menu Waste 98

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.

Operations 78

Operations Leadership Point of Sale Cash Management 78

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.

Inventory 78

Inventory Management Management Cash Management 78

Restaurant365

JUNE 9, 2020

As your restaurant business begins to recover from restrictions put on it due to COVID-19, it is crucial to assess your financials and strategize your costs. You might have been able to get by without having to evaluate your costs pre-pandemic but doing so now can be the difference between thriving and merely surviving in the new reality.

Cash Management 97

Cash Management Management Management Small Business 97

Restaurant365

SEPTEMBER 30, 2019

Through streamlining operational functions , like the accounts payable process, restaurant owners and operators are able to implement cost-saving efficiencies. Automating accounts payable (AP) in restaurant accounting can eliminate manual, time-consuming tasks, optimize invoice processing, and add money to the bottom line.

Audits 60

Audits Cash Management Mobile Ordering Point of Sale 60

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.

Point of Sale 74

Point of Sale Inventory Employee Relations Insurance 74

Hot Schedules

OCTOBER 4, 2019

A long with labor, food and beverage is one of the highest costs within a hospitality organization. Aside from the cost of the items themselves, there are many expenses associated with managing inventory. Managing Inventory — and Your Time . Stock counting frequencies vary by location and concept. Find one that works for .

Inventory 60

Inventory Management Management Demo 60

Restaurant365

NOVEMBER 19, 2019

With nearly half of the United States imposing higher minimum wages starting in 2020, restaurants also need to focus on optimizing labor costs (especially as a percentage of sales). Labor is one of the largest restaurant operational costs, but it is also one of the most controllable. Finding and training staff.

Operations 92

Operations 2020 Mobile Ordering Social Media 92

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.

Inventory 60

Inventory Mobile Ordering Food Supply Point of Sale 60

Restaurant365

OCTOBER 4, 2019

Whether small businesses or multi-location, when choosing between POS solutions, restaurateurs consider a long list of features, cost, and usability. A fully integrated POS system enables insights within two main categories that can benefit your bottom line: financial and operational reporting. ” How does POS integration work?

POS 60

POS Point of Sale Cash Management Information 60

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%.

Inventory 15

Inventory Management Management Food 15

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.

Point of Sale 52

Point of Sale Inventory Waste Employee Relations 52

Restaurant365

FEBRUARY 22, 2022

There’s sales and customer data, labor performance data, and even data telling you how much food you waste. Analyzing your restaurant data to get a detailed look at your profitability, food costs, and labor costs can drive strategic decisions and improve your bottom line. Why you should use restaurant analytics.

Point of Sale 147

Point of Sale POS Inventory Seasonal Menu 147

Restaurant365

DECEMBER 16, 2021

With restaurant-specific metrics, you can get a detailed look at your profitability, food costs, and labor costs, accessing data that can drive strategic decisions. Essentially, your DSS is a high-level summary of key metrics that are important to fine-tune every day, like your sales, labor costs, and comps.

Operations 78

Operations Point of Sale Employee Relations Waste 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.

Waste 78

Waste Compost Food Inventory 78

Restaurant365

JANUARY 25, 2022

There is no visibility into line-item details such as units of measure and price fluctuations, or into invoice and payment data. Automatically and accurately identifying individual line items prevents costly human errors. If you’re still handling your restaurant group’s AP manually, then stacks of invoices aren’t your only challenge.

Front of House 147

Front of House Back of House Audits Pricing 147

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?

Management 78

Management Management Point of Sale Waste 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. What is the average profit margin for restaurants?

Loyalty Program 88

Loyalty Program Point of Sale Guest Recovery Seasonal Menu 88

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.

Food 78

Food Point of Sale Inventory Waste 78

Restaurant365

APRIL 15, 2021

This blog post was originally published on September 10, 2019 and updated on April 15, 2021. A P&L statement can provide valuable insight into the net income and bottom line for each of your store locations. 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