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High coffee prices are becoming a lasting reality for the industry. While many assert that this signifies a long overdue change, as coffee has historically been an undervalued commodity, price volatility affects all levels of the supply chain in various ways. For coffee shops, in particular, margins are tighter than ever.
By then, he had a well-oiled, cash-flowing operation that he could sell at a premium. First, if you are skimming some cash off the top, you need to stop now. If your business is not profitable, its value will likely be limited to the value of the lease and perhaps 10% of what you spent on the equipment. We decided it was time.
Green coffee prices have remained high and volatile , and so has the cost of everything else, including packaging, transport, energy, and labour. With margins and cash flow stretched thin, a machine that just roasts coffee is no longer enough; today’s roasters are increasingly demanding more from their equipment.
Youre not just managing food and staff, youre battling slim profit margins, high operating expenses, and constantly changing customer preferences. Poor Financial Planning The Issue: Underestimating startup costs, no cash flow buffer, and unclear budgeting. Running a restaurant is one of the most rewardingyet riskyventures out there.
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. percent menu-price inflation rate. At the same time, U.S. chain sales grew just 3.1
. – Sophia Goldberg, Founder and CEO, Ansa The big lesson I learned is that I've had to continue to adapt my pricing, because people are still watching their spending. That's why we instituted lower-priced lunch specials and made other adjustments. Technology has become a solution in staffing as well. .
Coffee prices have soared over the past few years, pushing roasters, independent cafés, and specialty coffee retailers into challenging territory. Rising costs for green coffee, energy, shipping, labour, and equipment are placing significant pressure on businesses. Why are coffee prices staying so high?
Food prices continue rising at grocery stores and through suppliers, while staffing gaps and shifting guest preferences add extra pressure to already thin margins. Combined with strategic staffing decisions and supplier relationship management, these practices help maintain profitability without compromising food quality or service standards.
A modern POS system for bars goes beyond just processing paymentsit helps with inventory management, staff scheduling, and real-time sales tracking. In this guide, well compare the top bar POS systems, their features, pricing, and benefits to help you make the best choice for your establishment. Pricing starts at $9.99/month.
Green coffee prices remain high, while labour, logistics, packaging, and operational costs have all increased significantly. You may also like our article on why roasters and coffee shops need to strategise menu pricing. It’s a challenging time for roasters in today’s coffee market.
These reports help you understand sales trends, manage inventory, optimize staffing, and improve customer satisfaction. Here’s what you need to know: Sales Reports : Track revenue, peak hours, product performance, and staff contributions to refine pricing, menu, and staffing.
Embracing a monthly accounting cycle allows restaurateurs to stay perpetually ahead of tax obligations, identify and manage expenses proactively, and arm themselves with the real-time data needed for astute operational decision-making. That’s akin to managing a restaurant without monthly accounting.
With rising ingredient prices, labor shortages, and tighter margins, operators must find strategic ways to reduce restaurant costs without compromising quality or customer experience. Discovering new ways to reduce costs in restaurant management can boost profits. Let’s dive into what really works in today’s competitive landscape.
Cloud-Based POS Systems are transforming how restaurants operate by enabling remote management, faster updates, and seamless integration with other tools. From streamlining orders to managing inventory and staff, these systems provide the tools restaurant owners need to stay competitive in 2025 and beyond.
Joe Nicholson was a manager and tech consultant at one of the busiest restaurants in Sacramento, CA—Tower Cafe. Now, as a copywriter at SpotOn, he helps restaurant owners and managers learn how to run a more profitable operation. So you have your bartenders work on their pours and you raise prices on three popular reds.
Back-of-House (BOH) Systems: BOH platforms offer streamlined inventory management, staff coordination and kitchen operations tracking. Payroll Portals: Payroll platforms track employee hours, manage schedules and process payments seamlessly. Was there an equipment failure or interruption that caused issues?
These ratios provide valuable insights into operational efficiency, cost management, and overall profitability. Core Profitability Ratios for Restaurant Owners In the realm of restaurant management, understanding core profitability ratios is crucial. Implement effective inventory management. Let’s explore this further.
These ratios provide valuable insights into operational efficiency, cost management, and overall profitability. Core Profitability Ratios for Restaurant Owners In the realm of restaurant management, understanding core profitability ratios is crucial. Implement effective inventory management. Let’s explore this further.
A well-designed POS system improves restaurant operations by streamlining order management, speeding up transactions, and delivering real-time insights that help optimize every aspect of the business. A modern POS system is more than just a cash register – it’s the operational hub of your restaurant. Want to know more?
As whispers of an economic slowdown grow louder and fears of rising prices for food and equipment continue to rise, many shared kitchen operators are asking the same question: How can we stay resilient if a recession hits? Delay large purchases if possible, or seek refurbished or lease-to-own equipment options to preserve cash.
A modern Point of Sale (POS) system is more than just a cash registerits the central hub that powers day-to-day business operations. From processing payments and managing inventory to tracking sales and streamlining service, POS systems play a critical role in improving efficiency and customer experience.
Of course, it’s essential for most businesses to accept cash payments in some situations. The Cashless Restaurant Revolution: Why Restaurants Are Going Cashless in 2025 In the ever-evolving landscape of the restaurant industry, the concept of not leading with a “pay with cash” option has emerged as a transformative trend.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news of dramatic Valentine's Day shift, best food scenes, and the evolution of c-store foodservice. As they grapple with rising costs across their supply chain, 71 percent of restaurants plan to increase prices this year.
The right POS setup can make it easier to take orders, manage staff, track sales, and keep customers happy. Save More with Dual PricingNo Transaction Fees One major advantage of modern POS systems is the ability to save on transaction fees through Dual Pricing. Key Features to Look For : Cloud-based systems for remote management.
Configure Lavu Settings Get your system ready by customizing it to your business needs: Add menu items, modifiers, and prices. Enable features like happy hour or off-peak pricing. Cash drawers : Test opening and closing mechanisms. Table management : Ditch paper tracking in favor of digital floor plans for better organization.
Escoffier is aiding restaurant owners and managers by preparing qualified candidates ready for engaged employment. Whether it’s speeding up order times, improving inventory management, or boosting loyalty programs, every tool should serve a purpose. Aligning tech with business goals is a must.
They require specialized support that understands the intricacies of fluctuating revenues, high labor costs, and complex inventory management. This volatility makes accurate forecasting and consistent cash flow management incredibly challenging.
Specialized hospitality accounting solutions provide efficient, industry-specific financial management. Careful selection of outsourcing partners, considering their expertise and pricing, can significantly improve restaurant operations and growth. Learn more about our Accounting Services !
It eases the burden of financial management while ensuring precision and compliance. Bookkeeping software for restaurants also simplifies complex accounting procedures, making it effortless for restaurant owners to manage their finances. Yet, they’d be hard-pressed to deny the importance of accurate bookkeeping.
But when orders are mishandled, items go missing, or transactions arent recorded correctly, your restaurant pays the price. Without a clear system for managing and tracking these workflows, it’s hard to hold anyone accountable. These errors add up fastand they often go unnoticed.
Did you know that nearly 60% of new restaurants fail within the first year, often due to poor financial management? Key Takeaways Understanding restaurant-specific accounting fundamentals is crucial for managing revenue and expenses effectively.
Editor’s note New York’s Intercontinental Exchange (ICE) recently announced that as of March 2028, arabica futures contracts will no longer be priced in US cents per pound. Instead, ICE will implement a US $/tonne (or metric ton) pricing mechanism, although a new date has not yet been confirmed for this transition.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features trends in off-premise, coffee wars, the AI lifeline, the return of lunch, and how teens spend their dollars. The median price they would pay for a medium cup of coffee was $4. A common complaint was that drinks were not full or had too much ice.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news of how restaurants are a saving grace for malls, the economic impact of Taylor Swift in town, and how influential reviews can be. Inflation (or the increased costs of goods and services) is still a top pain point for operators (15 percent).
A great bartender or bar manager is born with a natural affinity for connecting with people and flair. Learn how to handle cash and be comfortable with cash. Learn how to manage the environment to appeal to guests, such as, when to lower the air conditioning or change the music. You’ve got to dress and act the part.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news of Drinksgiving and Thanksgiving trends, FSR challenges, and "out-of-the-box" dining habits. Tech Adoption 65 percent of restaurants adopted new technology to manage labor, though 27 percent still use manual scheduling.
Purchasing commercial ice and refrigeration equipment can be a significant financial burden on your business. The high upfront costs, ongoing maintenance expenses, and potential equipment obsolescence can quickly eat into your budget. Leasing provides peace of mind, knowing that you are covered if any issues arise with your equipment.
Restaurant owners are being forced to find a way to make it through winter with vastly reduced revenue, and many operators are scrambling to reallocate budgets and manage staffing to survive COVID-19. Managingcash flow can be difficult for seasonal businesses. Plan for Gaps in Your Budget. Hire the Right People.
We’re all familiar with equipment rental and software subscription services in the restaurant industry. But have you considered how an equipment subscription is a better, smarter business move than equipment ownership? You get to choose how to acquire this equipment: buy or rent. That’s what you pay them for.
Full tables, employees earning solid tips, shifts being fully staffed and the restaurant having the ability to source quality provisions at reasonable prices and dependable delivery times, are among the signs the business is thriving, according to Ben Johnston, COO of Kapitus. It is important to keep the restaurant concept clean and fresh.
Whether you’re a roadside fruit stand or a Michelin star restaurant, cash flow management is crucial. And there’s more to restaurant cashmanagement 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.
Often the most difficult part of the sale comes with managing your emotions as the owner and approaching the sale objectively. Having detailed financials for three years prior to the year you want to sell is very helpful in determining an opinion of value of your business and what a fair market price would be. Determining Sale Price.
With hand hygiene becoming a major point of emphasis, this also keeps patrons and staff from exchanging cash, change and cards frequently. The heaviest hitters are Apple Pay, Google Pay, Samsung Pay and PayPal, but options like Square Cash, Zelle and Venmo are growing in popularity and might be worth exploring as well.
Again, turn to the National Restaurant Association for guidance. [] PRICING YOUR MENU BY COMPARISON. More often than not – the success of your restaurant begins with effective menu planning, proper pricing, and consistent execution. Every business requires controls in pricing, consistency, quality, and cash handling.
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