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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

When a plan is too wordy, it tends to turn off the reader and can actually prevent them from finishing,” Lauren Fernandez adds that the business plan should be more akin to a sales document, not an A-to-Z tactical roadmap. Download now. You can't start a restaurant without a plan. But it doesn't have to be overwhelming.

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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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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. Comparing 7shifts’ internal data of 10,000+ restaurants, restaurants are seeing an average weekly decrease in sales of 50% across the board in North America.

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How Restaurants Can Remain Competitive in 2021

7 Shifts

From a projected record growth at the top of the year to a decline of nearly $240 billion in sales and 2.5 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. Embrace Digital Hospitality ??

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MRM Research Roundup: 2022 Restaurant Trends

Modern Restaurant Management

Early in the pandemic, 72 percent of operators invested in delivery and mobile/online ordering to boost revenue during mandated stay-at-home orders according to TD's 2020 survey, and it appears the popularity of these offerings is here to stay. Investment in delivery and mobile ordering pays off.

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MRM Research Roundup: Mid-August 2020 Edition

Modern Restaurant Management

This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features consumers' dining desires, the power of personalization and the untapped opportunity in localized marketing. COVID-19 Consumer Dining Trends. Diners are looking for reassurance on cleaning procedures and technology to reduce contact with servers.

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