Remove Cash Management Remove Document Remove Ordering
article thumbnail

Don’t Get Burned By The IRS – Tax Tips for Restaurant Owners

Modern Restaurant Management

By the time you manage inventory, staffing, customer demand and narrow profit margins, the last thing you want to think about is the IRS. Restaurants, like other cash-intensive businesses, are a frequently targeted for audits by the IRS. Operating a restaurant is not easy. This allows the auditor to verify the expenses.

Audits 470
article thumbnail

MRM Research Roundup: AI Investment Heating Up and Summer Dining Dos and Don’ts

Modern Restaurant Management

This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features the present and future of AI use in F&B, The Splintered Path to Purchase, the Datassential 500 Awards, and where chefs are earning six figures. Accuracy of food order and quality of mobile app lead the way at 85, both down 1 percent year over year.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Analyze Restaurant Financial Statements and Identify Growth Opportunities

Modern Restaurant Management

Balance Sheet This document provides insight into the current state of your finances (up to a specific date). Income statement (P/L statement) This document shows restaurant owners how much they’ve made versus their losses, so they can determine whether their ROI was sufficient to balance their spending.

article thumbnail

Franchise Compliance Guide: Laws + Agreements

7 Shifts

Put simply, franchise compliance refers to the actions that corporations, their franchisors, and their franchisees take in order to stay compliant with any applicable federal, state, and/or regional laws. If applicable, any updates made by the franchisor to the document at least seven days before the revised agreement can be signed.

Franchise 370
article thumbnail

The Ultimate Guide to Getting a Restaurant Business Loan

7 Shifts

Industry Analysis : Document the size and trends in the restaurant industry to show readers you are an industry expert. Competitive Analysis : document local competitors and show how you will be able to carve out a niche in your market. In order to get an SBA loan, the applicant must meet certain eligibility standards.

Document 393
article thumbnail

Tyga Bites and Sushi with an Attitude

Modern Restaurant Management

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. in-restaurant dining and online ordering for pickup or delivery), which can be leveraged to drive highly customized campaigns using a built-in marketing solution.

article thumbnail

Five Ways to Engage Franchisees and Drive Profitability During the Pandemic

Modern Restaurant Management

But despite everything, there are still ways to engage franchisees in order to drive profitability. It’s always been a challenge to schedule and manage on-site visitations, and the pandemic certainly hasn’t made this any easier. It’s a crisis within a crisis.

Franchise 508