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10 Cash Flow Management Best Practices for Restaurants

Lavu

No matter the size of your restaurant, one truth remains: cash flow is king. Restaurant cash flow management is the lifeblood of your business. Yet, while most small business owners know this truth, many still struggle with basic cash flow definitions, fundamentals, and management strategies that actually maximize benefits.

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2024 Outlook: Restaurant Trends and Challenges, Part Three

Modern Restaurant Management

Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. Consider, for instance, a scenario in which your Point of Sale (POS) system can forecast the popularity of a new dish based on historical customer behaviour.

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How to Tell If You Should Start Catering

Restaurant Engine

Some of your customers have even asked about catering options. But is a client base enough to start your catering business? Opening a catering business tied to your restaurant can add extra profits to your business. In this article, we look at how to tell if you should start catering. Do you have time for it?

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Growing a Restaurant Strategically – The Keys Are Alignment, Timing and Control

Modern Restaurant Management

Typical restaurant KPIs involve monitoring costs around food, labor and supplies, pricing adjustments, table turnover rates during peak periods, customer wait times, promotion effectiveness, brand sentiment on review sites, and training completion rates. Define the one or two KPIs most critical for your top growth goals.

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Ultimate Grubhub, Red Lobster Catering and Parts in Town

Modern Restaurant Management

Heads-up customer displays to show real-time order estimates across all channels. Ultimate now gives restaurants of any size this ability to please diners with an easy, digital pickup experience," said Matt Maloney, Grubhub founder & CEO. "With Grubhub Ultimate in action at Taheni Grill in New York City.

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Revenue streams restaurants can add to their business

Clover - Restaurants

Figuring out which opportunities are right for your eatery can help increase profitability and bring in new customers. Any business that successfully launches new revenue streams can benefit from increased profit, new customers, and a financial safety net in case something goes wrong. Here’s where to start.

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Consumer Habits Are Changing — What’s Next for Restaurant Tech?

Modern Restaurant Management

Many food and beverage establishments have seen success with technology — such as contactless options, automation to support changing workforces and innovative customer loyalty strategies — in their endeavors to meet the demand for safer and more convenient dining experiences. Gone are the days of cash-only transactions.