Remove Cash Management Remove Delivery Remove Employee Relations Remove Food Order
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

21 Unique Tip Jar Ideas + Advice on Getting More Tips For Your Restaurant or Cafe

7 Shifts

A rise in third-party ordering and delivery coupled with mobile ordering and contactless pickup means fewer and fewer guests are even making their way to a counter where they can consider leaving a tip. And for those who do show up in-person at a quick-serve restaurant , they're paying in cash less than one-third of the time.

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

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. Can corona spread through food ordered online. Don’t allow employees who aren’t feeling well.

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

2024 212
article thumbnail

Cost Cutting Ideas for Restaurants: Increase Restaurant Efficiency & Reduce Costs With These New Technologies

7 Shifts

They include: Labor management software Order management software Inventory management software Guest engagement software Contactless, mobile payment processors 5 Tools to Use to Increase Operational Efficiency in Restaurants Did you know that 48% of restaurants use three or more tech vendors?

article thumbnail

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.

article thumbnail

11 Restaurant Management Best Practices to Maximize Your Performance in 2021

Restaurant365

As 2021 begins, there are many restaurant management best practices that can be applied to strengthen your business, in the short and long term. Manage cash flow by creating a cash flow forecast. Your total cash flow is your cash inflows (for restaurant. over a certain period of time.

2021 136