Remove Cash Management Remove Hiring Remove Insurance Remove Restaurant Law
article thumbnail

Restaurant Bookkeeping: Comprehensive Guide to Master Bookkeeping

7 Shifts

Bookkeeping is one of the most essential aspects of any restaurant business. After all, a small, honest mistake can accumulate over time and turn into bigger operational problems— 17% of restaurants even fail in their first year due to mismanagement of finances.

article thumbnail

What is a Tip Credit? How They Work, Calculations, Laws, and More

7 Shifts

Tip credits are just another part of tipping that make restaurant employee compensation complex. State and local laws on tip credits. More tip management resources. Labor cost is typically a restaurant's most considerable expense. Consider a Texas restaurant worker pulling a 50-hour week. Table of Contents.

Insiders

Sign Up for our Newsletter

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

Trending Sources

article thumbnail

Restaurant wages in 2023: What owners should know

Open for Business

In a survey of restaurant workers, 76% said that they’d leave a restaurant because of low wages and 78% said the most important thing a restaurant can do to encourage them to stay is paying a “full, stable, livable” wage. What is the minimum wage for restaurant workers? Rising wages reflect this pressure.

2023 78
article thumbnail

Essentials of Payroll Accounting for Restaurant Groups, Part 1

Restaurant365

How you run and track your payroll accounting has a significant impact on restaurant operations. From hiring and onboarding to running employee payments and paying taxes, payroll touches on many different parts of a restaurant business. Tracking labor and payroll data for restaurant employees.

article thumbnail

Who has the worst staff turnover? Restaurant Employee Turnover by City and State + Retention Playbook

7 Shifts

Turnover in restaurants is as high as ever. Labor shortages, health crises, and general economic trends have made it a struggle — and restaurants need help. But we're at an inflection point in the restaurant industry. It's not enough to just pay more than the restaurant next door. Restaurant Retention Data Study.

article thumbnail

How to Open a Bar – 6 Expert Tips to Starting Your Own Bar

Harbor Touch

Additionally, each state, county, and city has different laws and regulations regarding alcohol sales. On the contrary, if the area already has restaurants and cafes, it’s an excellent opportunity to open a bar since you won’t have too much competition. Of course, planning your business venture is a huge and complex task.

Bar 78
article thumbnail

How to Open a Restaurant in the US From India?

The Restaurant Times

When it comes to the restaurant business, there is no debating the fact that the United States has become a global hub, attracting a lot of investments and start-ups across several countries, including India. Can a Foreigner Open a Restaurant in the US? Can a Foreigner Open a Restaurant in the US? Arm’s Length Investment.

License 52