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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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COVID-19 Best Practices for Restaurants: Navigating Coronavirus for Staff & Managers

7 Shifts

How restaurant managers can navigate COVID-19. Employees do not require a doctor’s note. Focus on other channels like third-party delivery. Offer discounts on delivery/takeout. Encourage guests to order take-out or delivery. Employees no longer require a doctor’s note. Communicate with staff and managers.

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5 Ways Restaurants Can Ensure Safe Online Food Delivery During COVID-19

Bingage

While the government has given a clean chit to online food delivery partners to resume their operations, some misinformation regarding the safety of these services has made people consider it unsafe for health. Related Read: Everything you should know about Cloud Kitchen Business Model. Go for Contactless delivery.

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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. This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits.

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Cash Will Still Be on QSR Menus

Modern Restaurant Management

Last year, one of the first brands to go cashless, Sweetgreen, changed its policy to accept cash at all its locations. The quick-service restaurant (QSR) started accepting cash after Amazon confirmed it would take cash payments in all of its previously cashless Amazon Go stores. To eliminate cash is to eliminate customer choice.

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7 Restaurant Employee Contest Ideas to Boost Sales and Engagement

7 Shifts

There is a way—and it’s through creating employee contests. Engaged employees are also less likely to turnover. 47% of restaurants were negatively affected by employee turnover in 2019, with less than a third of restaurateurs reporting that turnover had no impact on their business. for some of their favorites.

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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.