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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. To make sure your restaurant can succeed, here are ten best practices for improving restaurant cash flow and giving your business what it needs to survive and thrive.

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The Key Features of a Point-of-Sale System

BNG Point of Sale

There are many point-of-sale systems , but not all will suit your needs. Some systems work better for small businesses, while others are designed for large ones. You want something compatible with your type of business and has features that will help manage inventory, sales data, etc.

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15 Strategies to Prepare for Small Business Saturday 2023

Get Beyond

Small Business Saturday isn’t just a day on the calendar. It’s a massive day for making sales. Small Business Saturday can be a huge opportunity to meet new customers and grow your business’s profile. This year, Small Business Saturday falls on November 25, 2023.

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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. Consider, for instance, a scenario in which your Point of Sale (POS) system can forecast the popularity of a new dish based on historical customer behaviour.

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Surviving COVID-19: 7 Financing Options for Restaurants

7 Shifts

Shelter-in-place orders, social distancing, and business closures make it next to impossible to generate pre-coronavirus revenue numbers. From small business loans to microgrants to business credit cards, cash is available; it just takes a bit of application work and a little know-how.

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11 Restaurant Management Best Practices to Maximize Your Performance in 2021

Restaurant365

The events of this year made running a lean, streamlined restaurant business a necessity to survive the many shifts. 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.

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Three Steps to Improving Customer Loyalty During the Pandemic 

Modern Restaurant Management

It's reported that with as little as a five percent increase in customer retention, a business can improve its overall profits by up to 25 percent. Many businesses have introduced touch-free payment options and menus to improve customer experience during the pandemic. First, consider adopting a touchless loyalty system.