Remove Cash Management Remove Customer Service Remove Delivery Remove Pricing
article thumbnail

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.

article thumbnail

New Bill Forces 3rd Party Delivery Apps to Full Transparency. What’s Next?

Cheetah

On October 5 a new bill was approved by the governor of California requiring 3rd party delivery apps to be more transparent about charges and tips. Can restaurants reshape their relationships with 3rd-party delivery apps for the better, or will they be buried under incomprehensible charges and over-itemized bills?

Delivery 148
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

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.

2024 215
article thumbnail

MRM EXCLUSIVE: Restaurants’ Lockdown Lessons Are Key to Coping with Soaring Costs

Modern Restaurant Management

Food prices are soaring amidst supply chain disruptions, increasing labor costs, and processing plant shutdowns. Poultry prices are up 15 percent to 18 percent ; the cost of eggs has risen 73 percent. The food service industry is scrambling to keep up with these new costs, pushing the price of a restaurant meal to a 40-year high.

article thumbnail

Your Go-To Guide for Restaurant Inventory Management

7 Shifts

Consider two worst-case scenarios: A customer orders extra guacamole but your restaurant is all out of avocados or, on the other hand, you've just walked past a crate of rotten, unusable (and expensive!) The Best Restaurant Inventory Management Software. Choose The Right Inventory Management System. Deliveries.

Inventory 370
article thumbnail

How Is Inflation Affecting Restaurants?

Modern Restaurant Management

Modern Restaurant Management (MRM) magazine quizzed expert Kathryn Petralia, co-founder of Kabbage, an American Express Company, for her analysis on what restaurants owners need to understand about inflation. Those who don’t are effectively lowering their prices. How is inflation affecting food prices?

article thumbnail

5 Things Lenders Want to See in a Restaurant Business Plan

7 Shifts

Think, like the type of service it would offer. While you’re at that, think about your restaurant’s floor plan and design and incorporate that as it will impact the customer experience. Your market analysis should depict who your customers are and why they would prefer your restaurant over the others. Target market.