Modern Restaurant Management

JANUARY 27, 2023

It takes a lot to become an entrepreneur including learning actively from mistakes, understanding operations, and managing finances. Many entrepreneurs who are new to the business might not consider issues like cash availability, inventory costs, and overhead costs. A business plan is necessary to clarify everything in the beginning.

Cash Management

Modern Restaurant Management

AUGUST 5, 2020

In this edition of MRM News Bites, we feature a lot of tech news, a celebrity-owned virtual dining concept, and the annual Neighborhood to Nation Restaurant Recipe Contest. and will enable TouchBistro to fully integrate customer loyalty and guest marketing into its all-in-one point-of-sale (POS) and restaurant management platform.

Food Safety

7 Shifts

JUNE 29, 2022

The FTC Rule largely pertains to franchisors supplying prospective franchisees with a franchise disclosure document – a document from franchisors providing 23 key information points to franchisees regarding need-to-know information about the business. Tools For Supporting Franchise Compliance. What Does Franchise Compliance Even Mean?

Franchise

7 Shifts

MARCH 31, 2021

It’s also a vital document that helps businesses qualify for better loans. Will you provide a casual or fine-dining experience? In general, lenders will want to see at least five years' worth of cash flow projections. From there, they will help you work through the numbers and provide an estimation of your future cash flow.

Cash Management

7 Shifts

SEPTEMBER 19, 2024

Executive Summary Location: Groveport, OH Restaurant Type: Casual Dining Problem: Too much time spent on manual processes. Solution: Team management software that handles scheduling, time clocking, and payroll in one place. That's why they were excited when 7shifts, their team management software, added payroll to the platform.

Cash Management

7 Shifts

OCTOBER 31, 2022

You'll have a document to reference during the planning or opening of your restaurant. You'll have a document to reference during the planning or opening of your restaurant. A restaurant business plan is a document that outlines the various aspects of your restaurant business. The management team. Table of Contents.

Point of Sale

Modern Restaurant Management

MARCH 11, 2020

US Foods Holding Corp.entered into a definitive agreement to acquire Smart Foodservice Warehouse Stores from funds managed by affiliates of Apollo Global Management, Inc. NYSE: APO) (the “Apollo Funds”) for $970 million in cash. Smart Foodservice had 2019 revenues of approximately $1.1 reducing to approximately 3.0x

Bar

Modern Restaurant Management

APRIL 14, 2020

To add resources to these guides, reach out to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com with news. The National Restaurant Association-managed site also provides a direct connection to the industry’s grassroots engagement platform.

Online Ordering

Modern Restaurant Management

JULY 15, 2020

This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features Grubhub's State of the Plate 2020 trend report, the fragility of "open," di g ital resilience and brand intimacy. Financial Trends Insights. Day parts performing best for the industry during June were mid-afternoon and dinner.

2020

Modern Restaurant Management

SEPTEMBER 15, 2021

This edition of MRM Research Roundup features Canadian dining trends, American eating patterns, best and worst cities for burgers and pumpkin spice to the rescue. Dining Trends in Canada. Hiring Crisis Facts. That's because a whopping 85 percent of restaurant owners now report it’s very difficult to find the right help.

2021

7 Shifts

SEPTEMBER 16, 2024

The goal is to determine the total amount of cash flow that will be available to the new owner after accounting for these types of expenses. Profitability Showing consistent profits and positive cash flow can increase the perceived value of your restaurant. If restaurants in your area sell at a multiple of 2.5

2024

7 Shifts

JULY 20, 2024

Components of a restaurant’s financial report The food and beverage sales report, prime costs report, inventory report, profit and loss (P&L) statement, and cash flow statement are all critical components of a restaurant's financial management. This way, you maintain your restaurant’s reputation for quality food.

2024

Modern Restaurant Management

DECEMBER 27, 2019

NCR and Zynstra have worked together for several years, reflected in the launch of NCR Software Defined Store introduced in January 2019 and in use by companies like Pilot Flying J. NCR purchased Zynstra for approximately 100 Million British Pound Sterling. This combination makes sense and we’re excited about what’s coming.”

Mobile Ordering

Modern Restaurant Management

SEPTEMBER 23, 2020

The hardest hit have been casual dining sit-down restaurants and national chains that complied with local COVID-19 mandates to limit or ban indoor dining. When you reopen dining, what will your customers require in addition to the normal medical guidelines? Barclays expects approximately 10 percent of U.S.

Customer Service

7 Shifts

OCTOBER 20, 2022

It's a constant conversation in the restaurant industry. But one can't deny that tips make up a majority of restaurant workers' take-home pay. There have been several ways in which restaurant owners have tried to create a more equitable system for employees to earn consistent, fair wages and improve retention. Table of Contents. Tip Pooling Laws.

Tip Distribution

Restaurant365

DECEMBER 11, 2020

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

7 Shifts

JULY 1, 2024

From choosing a concept and securing the necessary documentation to hosting your grand opening, we've outlined the complete process of opening a bar. Running a bar is a lucrative business, proven by the fact that this industry is estimated to be valued at a whopping $36 billion in 2024. How profitable is a bar?

Bar

Xtra Chef

JUNE 16, 2020

So when COVID-19 closed the doors of dining rooms around the country, forcing operators to think critically about the future, our team thought about how we could help as many restaurants as possible to come back better than ever. Here’s everything you need to know about this exciting product release: Turn Paper Invoices into Cash.

Cash Management

Aaron Allen & Associates

MARCH 3, 2022

There are so many things to think about — from inventory management to restaurant payment and billing and more — it can be difficult to keep track of it all. That’s where restaurant management software comes in. In this roundup, we will take a look at some of the best restaurant management software out there.

Management

Focus POS

JUNE 17, 2019

It’s a system that takes the place of a traditional cash register and provides much more than basic transaction functionality. Restaurant point of sale software empowers businesses to control labor costs, manage inventory, and have deeper visibility into business operations. What is restaurant point of sale (POS) software? Flexibility.

Point of Sale

Restaurant365

JUNE 2, 2020

You can’t run a restaurant without employees, which means that processing payroll is an essential task for restaurant owners, operators, and managers. When you have restaurants in multiple states and cities, the difficulties of managing your payroll are multiplied. Payroll for restaurant employees.

Tip Distribution

Lavu

DECEMBER 20, 2019

The corner cafe, upscale bistro and fine dining restaurant serve different dishes, but all face at least a few common. Employers have multiple obligations for documenting and reporting tip income, as well as for paying taxes on. amount of cash tips to their employer by the 10th of the following month. Inventory Management.

Cash Management

Buzztime Business

FEBRUARY 3, 2021

As of the date of this press release, NTN has received no proposal regarding any potential acquisition or similar transaction from any party, and NTN’s management and board of directors remain focused on closing the proposed merger with Brooklyn and the proposed asset sale to eGames.com.

Specials

Buzztime Business

MARCH 1, 2021

The NTN board of directors reiterates the following: The negative impact of the COVID-19 pandemic on the restaurant and bar industry was abrupt and substantial, and NTN’s business, cash flows from operations and liquidity has suffered, and continues to suffer, materially as a result. Your vote is important no matter how many shares you own.

Cash Management

Sling

JULY 1, 2023

1) Define the concept of your restaurant “Restaurant” is a word encompassing a wide variety of venues , from bistros to fine dining establishments and even ghost restaurants. 5) Pick a great location When you’ve got cash in hand, it’s time to take the next step and find the spot that will soon turn into your restaurant.

Fine Dining

Restaurant365

MARCH 30, 2020

With the sudden elimination of dine-in options, many restaurants are either shifting to a takeout/delivery only model or implementing a delivery option for the first time. With today’s constantly changing circumstances, the dining public still supporting restaurants is generally more understanding. Completing staff training.

Delivery

The Restaurant Times

APRIL 13, 2021

The respondents consisted of professionals associated with casual dining restaurants, fine-dining establishments, cloud kitchens, quick service restaurants, cafes, bakeries, food courts, and other formats. The COVID-19 pandemic has transformed the restaurant industry in a number of ways. Rise Of Cloud Kitchens And Online Delivery.

Loyalty Program

Clover - Restaurants

JUNE 20, 2024

Is there space for outdoor dining? Florida is home to a broad range of cuisines and eateries. In fact, according to the National Restaurant Association , Florida has more than 48,000 restaurant locations generating a whopping $77 billion in revenue. What’s more, Florida welcomed an estimated 140.6 Is it a prime traffic location?

License

Open for Business

OCTOBER 20, 2023

This document is helpful for you as well as potential investors. Whether it’s chic and modern or rustic and cozy, fine dining or casual, the atmosphere needs to enhance the dining experience and make it memorable for all the right reasons. Are you targeting families, young professionals, or a little bit of everything?

License

Apicbase

MAY 18, 2022

Managing a chain of company-owned restaurants is very different from working with franchisees. Besides cost estimates, audited financial statements and projections should be included, like: the expected growth rate for (at least) the first year; the estimated restaurant cash flow; the expected payback period. Free download. #2

Franchise

The Restaurant Times

MAY 30, 2021

It gives banks and potential investors information regarding its business objectives – market analysis, management details and financial requirements to sales and marketing, expansion potential, etc. For example, quick-service restaurant, fine dining, pub, food truck, etc. Introduction. Business Overview.

Point of Sale

SpotOn

JUNE 26, 2024

For example, customer feedback might show that you need to improve your online ordering and delivery processes, leading you to implement delivery management software to improve efficiency and customer satisfaction. How do you ensure every 2-top to 20-top has the opportunity to give their thoughts on the dining experience?

Social Media

Open for Business

DECEMBER 12, 2023

The information provided in this article does not, and is not intended to, constitute legal or financial advice; instead, all content is for general informational purposes only. Information in this article is presented “as-is” and may not constitute the most up-to-date information.

Back of House

Modern Restaurant Management

JULY 7, 2020

In this edition of MRM News Bites, we feature the latest delivery platform consolidation, the release of PPP loan information and ServSafe Dining Commitment. Uber To Acquire Postmates. billion in an all-stock transaction that brings together two top players in third-party delivery, Uber will acquire Postmates.

Mobile Ordering

Modern Restaurant Management

JUNE 19, 2020

The EZ application requires fewer calculations and less documentation for eligible borrowers. This singular focus has allowed Bloom to create a world class enterprise analytics and marketing platform that saves at-risk customers, builds and manages online reviews, while increasing customers’ frequency.

Food Safety

EATER

AUGUST 17, 2020

The biggest takeaway: “It’s important, more important now than ever, to not get into a longterm relationship like this with someone who you don’t think is a good person, with someone that you don’t think you trust, with someone who you don’t think feels that your business is an asset to their neighborhood or to their property.”.

Hotels

Modern Restaurant Management

JULY 27, 2020

In this edition of MRM News Bites, we feature sobering statistics from Yelp, a ghost kitchen franchise model, franchise explosions expected and falling for for an improved PSL. Yelp Sees COVID Effect. YEA reflects data from millions of local businesses and tens of millions of users on Yelp’s platform measuring U.S. “As U.S.

Franchise