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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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How Much Should You Tip at a Restaurant? A Definitive Guide to Tipping Etiquette.

SpotOn

The ubiquity of tips, the prevalence of cash-free payments, and a lack of clarity around service charges have left consumers and operators alike searching for a sustainable solution.  If there’s a tip jar, tip cash, otherwise, you can usually add a percentage or dollar amount to your order. 

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How much does it cost to open a restaurant?

7 Shifts

You won’t have cash coming in until you open your doors, so you’ll have to depend on your life savings, investments, and loans to get you through your first few weeks or months of business. If your space is worth $1 million, for example, you’ll need $100,000 in cash to lock in the space. You’ll need roughly 10% down on your space.

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How to Drastically Cut Expenses in Your Restaurant (and Stay Profitable During COVID-19)

7 Shifts

Download all the data from your restaurant POS or back-office management platform to get a sense of how your restaurant is operating today. Your prices – Last, but surely not least, are your prices. If you need to increase your profits, the quickest thing to do is raise prices.

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Seven Restaurant Trends That Will Define 2022

Modern Restaurant Management

This instability will push operators to trim costs by shortening menus and investing in labor-saving technology to free up cash for wage increases. Restaurants will also explore delivery options beyond costly third-party partnerships, and hike delivery menu prices to make the channel more lucrative as off-premise demand holds steady.

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How can we improve access to finance for smallholder coffee farmers?

Perfect Daily Grind

Without access to finance, many coffee farmers struggle to invest in their farms – their businesses – and few can manage their farms enough to make them profitable. Rachel Nakasiita is Farmer Service Unit (FSU) Manager for NKG Bloom Uganda. José Manuel Calero Moraga is FSU Manager at Becamo.

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How To Calculate Profit Margin For Small Business Owners

Sling

As a small business owner or manager, you need to speak the language of your industry. The dictionary definition of margin is an amount by which something exceeds or falls short. This is a common question many owners and managers ask in regard to accounting for their business. Profit Margin. Profit Vs. Revenue.