article thumbnail

A CPA’s Insight on Top Issues Restaurant Owners Face

Modern Restaurant Management

For restaurant owners, there are a number of issues in their workplace keeping them up at night and hindering them from successfully managing and operating their restaurant efficiently. Money and Inventory Management The profitability of a restaurant depends on the careful management of cash flow.

article thumbnail

Restaurant Budgeting: How to Create A Restaurant Budget

7 Shifts

Managing a restaurant is not for the faint-hearted. A restaurant budget allows restaurant owners and managers to see directly if they are meeting their income and expense benchmarks. Promotes proactive decision-making Restaurant owners and managers must adapt quickly to be successful and retain their competitive advantage.

Insiders

Sign Up for our Newsletter

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

article thumbnail

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

Harbor Touch

There are many things to consider when opening a bar, from the type of establishment you want to open to the licensing and zoning requirements in your area. There may be special licenses or permits you will need in order to open your bar. Obtain alcohol licenses and permits. Create an appealing atmosphere.

Bar 78
article thumbnail

NTN Buzztime Announces Date of Special Meeting of Stockholders to Vote on Proposed Merger and Asset Sale

Buzztime Business

NTN will be holding its special meeting of stockholders to consider the merger, the asset sale and related proposals on March 15, 2021 at 9:00 a.m., Additional details regarding the proposals and the special meeting will be made available in the proxy statement/prospectus/consent solicitation statement relating to the special meeting.

article thumbnail

Bar Software that Boosts Your Revenue

Focus POS

Are you offering unique drink specials? With a bar software system, you can quickly scan someone’s driver’s license and verify their age right where they order. Like age verification, there are other inherent hurdles to running a bar that, when poorly managed, can lead to severe issues. Cash drawer shortages. VIP pricing.

Bar 148
article thumbnail

Setting the stage: a guide to opening a restaurant

Open for Business

From budgeting and licensing to crafting the perfect menu, here’s everything you need to know about how to open a restaurant. Craft a comprehensive financial blueprint to manage your restaurant’s expenses. There’s plenty to think about, from getting a general business license to copyrighting music.

License 78
article thumbnail

The Six Most Common Franchise Problems (And How to Solve Them)

7 Shifts

Between up-front licensing fees and opening costs, the amount can easily break into the six or even seven-figure range. million Some franchisors even require aspiring franchisees to have hundreds of thousands of dollars of cash on hand, which runs the bill up even more. of weekly gross sales for franchise royalties and advertising.

Franchise 369