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Restaurant Cash Flow Management 101: Building Good Financial Habits

ChowNow

Whether you’re a roadside fruit stand or a Michelin star restaurant, cash flow management is crucial. And there’s more to restaurant cash management than simply bringing in more money to cover expenses. What is Cash Flow? Cash flow is the net amount of money moving in and out of your restaurant.

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[Guide] How to Implement Digital Tip Payouts at your Restaurant

7 Shifts

Restaurants without team management tools may miss out on top talent, like those who value tech: Gen Z. Make sure to consider these key factors from both the administrative and employee perspective: Pricing: Consider whether the platform charges a flat fee (monthly or annual), a percentage of tips, or a combination of both.

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How To Become A Restaurant Manager in 2024: A Comprehensive Guide

7 Shifts

Restaurant management is one of the best pathways for servers and hosts looking to make the next step in their hospitality careers. If you see yourself managing a team and overseeing operations, the path of a restaurant manager may be fulfilling. What do restaurant managers do? As of 2024, they make around $26.42

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Restaurants Go Digital to Attract and Retain Talent

Modern Restaurant Management

To recruit new talent and alleviate strains on current staff, restaurant managers are looking for new ways to streamline their operations and enhance the employee experience. However, many have since discovered that digitizing their workforce operations empowers employees. Embracing Digital Transformation.

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The Complete Checklist For Selling Your Restaurant In 2024: Pre-Sale, Sale & Post-Sale

7 Shifts

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.

2024 195
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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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Restaurant Budgeting: How to Create A Restaurant Budget

7 Shifts

Managing a restaurant is not for the faint-hearted. However, as a rule, the primary costs you can expect in running your restaurant are usually related to food, labor, and rent. A restaurant budget allows restaurant owners and managers to see directly if they are meeting their income and expense benchmarks.