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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 to Write a Restaurant Business Plan [with Sample]

7 Shifts

Download now. The management team. Management team. You may want to list out: Team Management. Inventory management systems. Task management tools. Manager Log Books. Got supporting financial documents, like projected cash flow and a projected income statement? This is the “elevator pitch.”

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A More Financially Stable Workforce Can Fuel Industry Recovery — Even in a Talent Crunch

Modern Restaurant Management

In fact, Netspend surveyed more than 900 tipped workers across the restaurant, food delivery, hospitality, salon and spa industries to get a pulse on the financial impacts of COVID-19. These solutions could help to address other pandemic-related challenges, like ongoing cash management hurdles.

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How Restaurants Can Remain Competitive in 2021

7 Shifts

Here are a few ideas: Contactless is King While contactless cards, drop off delivery, app-based payments, and QR codes have been around, the pandemic has made them more popular than ever. With mobile ordering, there are no menus to pass out and back around, no germed-up credit cards to swipe, and no cash to handle.

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

7 Shifts

By now, many states and provinces have either mandated reductions in seating or the closure of dining areas, with most restaurants turning to takeout and delivery. Download all the data from your restaurant POS or back-office management platform to get a sense of how your restaurant is operating today.

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The State of Full Service Restaurants

Modern Restaurant Management

Seventy-four percent of full service restaurants (FSRs) managed to maintain or increase their sales during the pandemic; however, profit margins in 2021 declined to 10 percent, compared to 12 percent in 2019, according to third annual State of Full Service Restaurants Report released by TouchBistro.

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3 Reasons Why You Need a Pandemic Preparedness Plan for Your Restaurant

Focus POS

Download Now: Pandemic Preparedness Guide for Restaurants. Delivery management: Many customers are opting for delivery over curbside pickup and drive-thru. Mis -managed delivery functions can turn into a huge cost center. Download the full Pandemic Preparedness Guide for additional guidance. .