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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. Yet, while most small business owners know this truth, many still struggle with basic cash flow definitions, fundamentals, and management strategies that actually maximize benefits.

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Restaurant Budgeting: How to Create A Restaurant Budget

7 Shifts

Managing a restaurant is not for the faint-hearted. This includes: Net Sales: The total revenue derived from your sale of food and beverages. However, as a rule, the primary costs you can expect in running your restaurant are usually related to food, labor, and rent. Most restaurants try to keep it at around 30% to be safe.

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How Is Inflation Affecting Restaurants?

Modern Restaurant Management

Modern Restaurant Management (MRM) magazine quizzed expert Kathryn Petralia, co-founder of Kabbage, an American Express Company, for her analysis on what restaurants owners need to understand about inflation. What are best practices for restaurant owners and operators to manage costs right now? How is inflation affecting food prices?

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Franchise Compliance Guide: Laws + Agreements

7 Shifts

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. Proper Team and Labor Management Tools. Food & Staff Safety Measures.

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Why Restaurants Should Embrace Technology in 2023

Modern Restaurant Management

Between supply chain issues, staffing challenges and increasing operation costs, restaurants have had to re-examine roles and responsibilities for employees and lean into technology to increase operational efficiency. .” Redefining the Role of the Manager. Redefining the Role of the Manager. Simplicity Is Key.

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Back of House, Yet Front-Facing Priority – Restaurant BOH Trends to Monitor in 2023

Modern Restaurant Management

Is your restaurant up to speed with the latest best practices for back of house (BOH) management? Everything from decreasing food waste to exploring how automation can increase revenue for small business restaurants is related to BOH procedures. Here are some back of office trends to watch for in 2023.

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How much does it cost to open a restaurant?

7 Shifts

You won’t have cash coming in until you open your doors, so you’ll have to depend on your life savings, investments, and loans to get you through your first few weeks or months of business. If your space is worth $1 million, for example, you’ll need $100,000 in cash to lock in the space. You’ll also need to pay for supplies.

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