Modern Restaurant Management

SEPTEMBER 1, 2023

Inefficient restaurant inventory management practices, improper storage, gaps in inventory logs, theft, and waste can cause even the most successful kitchens to struggle or fail. Below are the top seven inventory management mistakes restaurants are making, and how to correct them. Always date and label everything.

Inventory 164

Inventory Management Management Cash Management 164

The Restaurant Group

MARCH 11, 2024

Managing a restaurant involves so many moving parts, including sourcing high-quality ingredients, purchasing a seemingly endless list of supplies, managing staffing and scheduling, and budgeting for a profitable restaurant – all within a set budget. One example is our restaurant remote management service.

Management 78

Management Management Cash Management Insurance 78

7 Shifts

MARCH 16, 2020

How restaurant managers can navigate COVID-19. Communicate with staff and managers. Monitor 7shifts Announcements from management for updates on the situation. Communicate with your manager about any changes to your situation—whether you’ve recently travelled or are feeling unwell. Accept all sick requests.

Management 369

Management Management Employee Relations Kitchen Safety 369

7 Shifts

JULY 13, 2023

Restaurant transactions have been moving away from cash and towards electronic forms of payment for years—and that's extending to tips now too. Americans who leave their tips digitally tip nearly 15% more than when they tip with cash. However, more digital tips means less cash passing through the restaurant on a daily basis.

Cash Management 195

Cash Management Back of House Training Insurance 195

7 Shifts

MARCH 10, 2021

This process includes focusing on your daily finances , such as cash flow, payroll, and inventory. Invest in Technology Accounting and inventory management software are just a couple of the technologies that small business owners should invest in. Or check out how 7shifts optimizes your restaurants labour management.

Management 370

Management Management Small Business Email Marketing 370

7 Shifts

JANUARY 9, 2024

A modern restaurant management system can help with compliance. If the restaurant management chooses to pay some or all of the service charge out to staff, that money counts as taxable wages, not tipped income. Managers, supervisors, and employers can’t receive funds from tip pools either. per hour) and tips.

Restaurant Law 221

Restaurant Law Cash Management Tip Distribution 2024 221

7 Shifts

AUGUST 23, 2023

I'm excited to introduce Tip Payouts , an easy-to-use tip payment solution that empowers restaurant managers to send tips directly to employees' bank accounts in seconds. Our tip management journey started back in September 2021 with the release of our Tip Pooling feature, which covered the calculation portion of the process.

Tip Distribution 195

Tip Distribution Cash Management Restaurant Law Insurance 195

7 Shifts

JANUARY 9, 2024

A modern restaurant management system can help with compliance. If the restaurant management chooses to pay some or all of the service charge out to staff, that money counts as taxable wages, not tipped income. Managers, supervisors, and employers can’t receive funds from tip pools either. per hour) and tips.

Restaurant Law 195

Restaurant Law Cash Management Tip Distribution 2024 195

Hot Schedules

JULY 15, 2021

Mitigating Cost Price Inflation Via Supplier Management. Not only does this deliver greater control, but negotiated rates also help avoid the inevitably higher costs that come from buying with petty cash. Smart operators take purchasing management further by using electronic trading platforms. Related Posts.

Pricing 148

Pricing Management Management Cash Management 148

Modern Restaurant Management

SEPTEMBER 27, 2023

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.

Cash Management 183

Cash Management Restaurant Law Food Safety Point of Sale 183

Modern Restaurant Management

JANUARY 5, 2024

Strategic Alignment Restaurant management businesses must deal with rapidly evolving markets, higher costs, supply chain shifts and delays, defensive business structures, higher interest rates and growing costs of borrowing. Businesses in the restaurant industry heavily rely on customer loyalty to maintain steady cash flow.

Supplies 114

Supplies Cash Management Food Supply Transportation 114

Culinary Cues

MARCH 26, 2022

Every business requires controls in pricing, consistency, quality, and cash handling. All of the tools are available for inventory control, purchasing systems, cash handling, costing templates, and quality assessment. Social media is very inexpensive, but someone needs to effectively manage it every day and every way.

Cash Management 366

Cash Management Social Media Restaurant Law Communication 366

Sculpture Hospitality

JULY 7, 2021

Since the beginning of the COVID-19 pandemic, bar owners around the world have learnt a number of lessons about managing their businesses during challenging times. Perhaps no lesson, however, has been as important as understanding cash flow.

Bar 148

Bar Management Management Inventory 148

7 Shifts

DECEMBER 13, 2023

Texas tip laws are less complex than most other large states, but no less important to get right: Just ask one Texas barbecue restaurant, which the Department of Labor fined $867,000 , after they improperly withheld tips from employees and paid them out to managers instead. Management is a different story.

Restaurant Law 221

Restaurant Law Tip Distribution Cash Management Customer Service 221

Modern Restaurant Management

AUGUST 10, 2021

Please send questions to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. When it comes to managing medical plan costs for restaurant employers, aggressive management of prescription drug expenditures can yield significant savings. Carve In or Carve Out.

Management 178

Management Management Cash Management Healthcare 178

Modern Restaurant Management

SEPTEMBER 15, 2023

Process Payments for Non-Cash Transactions In a digital age, a lot of people use cards instead of cash – but they can't do that if your POS system isn't working. Your delivery management and online ordering will also be impacted. The result is lost revenue and unhappy guests.

POS 189

POS Front of House Cash Management Online Ordering 189

Restaurant365

DECEMBER 11, 2020

As 2021 begins, there are many restaurant management best practices that can be applied to strengthen your business, in the short and long term. Manage cash flow by creating a cash flow forecast. Your total cash flow is your cash inflows (for restaurant. over a certain period of time.

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2021 Cash Management Management Management 136

Embrace the Suck

APRIL 26, 2020

To get you started down the KPI Mastery path, let’s start with the basic metrics: Cash Flow. Cash flow is simply the amount of money going in and out of the restaurant. It’s essentially how much cash you have on hand. Cash flow = Cash input - cash output. Allow me to help you manage your KPIs.

Cash Management 435

Cash Management Point of Sale Inventory Bar 435

Sling

SEPTEMBER 13, 2022

Effective retail management requires a vast array of skills. In a broad sense, those skills boil down to managing your time, managing your staff, managing their training, and managing change. Retail management 101 Master these skills one at a time. Retail management 101. That’s where we can help.

Retail 144

Retail Management Management Point of Sale 144

Modern Restaurant Management

FEBRUARY 27, 2023

It is important to consider if the first location has the cash flow to help financially carry the second location for a period of time if needed. Below are seven tips to improve the cash flow and make the most out of a current location to ensure a steady stream of revenue to serve as a buffer through those first months.

Cash Management 179

Cash Management Point of Sale Inventory Email Marketing 179

7 Shifts

DECEMBER 13, 2023

Texas tip laws are less complex than most other large states, but no less important to get right: Just ask one Texas barbecue restaurant, which the Department of Labor fined $867,000 , after they improperly withheld tips from employees and paid them out to managers instead. Management is a different story.

Restaurant Law 195

Restaurant Law Tip Distribution Cash Management Customer Service 195

Modern Restaurant Management

AUGUST 2, 2023

Inventory, Ingredient Costs, and Seasonality Inventory management and controlling ingredient costs are critical for any restaurant's profitability. Employing efficient cash management software can help you track expenses and optimize cash flow.

Menu 156

Menu Cash Management Seasonal Menu Influencer 156

Modern Restaurant Management

FEBRUARY 9, 2023

For example, with an uptick in business comes an influx of cash, especially with higher interest rates motivating consumers to utilize cash versus credit cards. Whether you own and operate a large establishment or a small one, there is always an increased chance of risks for cash management when dealing with more cash.

Cash Management 132

Cash Management Transportation Recycling Small Business 132

Aaron Allen & Associates

MARCH 3, 2022

There are so many things to think about — from inventory management to restaurant payment and billing and more — it can be difficult to keep track of it all. That’s where restaurant management software comes in. In this roundup, we will take a look at some of the best restaurant management software out there.

Management 120

Management Management Mobile Ordering Point of Sale 120

Restaurant365

MARCH 5, 2020

From cloud-based POS systems to mobile apps designed to improve employee satisfaction and streamline scheduling, technology is bettering business and changing the landscape of restaurant management. So why is it that alcohol management is lagging? The problem with outdated alcohol management.

Blog 146

Blog Management Management Cash Management 146

Modern Restaurant Management

JANUARY 8, 2024

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.

2024 206

2024 Loyalty Program Cash Management Customer Experience 206

Culinary Cues

MAY 13, 2023

Each of those “departments” will require some level of unique kitchen management (sous chef) and specialists to support the uniqueness of function. As long as the checkbook has a credit balance they are in good shape (until predictable sales slump and cash flow turns the corner).

Hotels 426

Hotels Point of Sale Cash Management Training 426

Modern Restaurant Management

FEBRUARY 9, 2022

Events like the Super Bowl bring an influx of cash to establishments of all sizes, some of which might not have the right cash logistics system in place. When managing an influx of cash, there is an increased chance of risks for cash mismanagement. Identify the amount of time you and your staff spend handling cash.

Cash Management 171

Cash Management Recycling Transportation Sports 171

Restaurant365

JUNE 9, 2020

By generating a budget for your controllable costs , you can create a clearer path for your cash to move. Assessing this movement by ensuring that the budget is maintained and that invoices are entered daily will help you better manage your cash flow each month. Manage your cash flow. One of these costs is labor.

Cash Management 97

Cash Management Management Management Small Business 97

7 Shifts

NOVEMBER 17, 2021

Enter 7shifts , a scheduling and team management app that simplifies the payday processes that typically run restaurateurs ragged. Any owner or manager running payroll manually understands the complexity faced each pay period. The downsides fall on management—weekly pay dramatically increases paperwork and admin time.

Cash Management 370

Cash Management Employee Relations Hospitality Innovation 370

Modern Restaurant Management

FEBRUARY 20, 2024

When your POS system makes it easier to manage reservations, seating layouts, and table assignments effectively, it can also optimize table turnover and reduce wait times. With four-in-ten Americans saying none of their purchases are made in cash, it’s become harder than ever to tip out servers in cash.

Technology 120

Technology Cash Management Customer Experience POS 120

7 Shifts

OCTOBER 30, 2023

But restaurant owners, managers, and employees need to be aware of the labor laws and protections in place in the Sunshine State, like Florida’s unique approach to the minimum wage— which is steadily on the rise. per hour The hourly cash wage rate for tipped employees through September 2024 is $8.98 per hour (minimum).

Restaurant Law 221

Restaurant Law Certification Food Safety Cash Management 221

7 Shifts

AUGUST 2, 2023

Restaurants without team management tools may miss out on top talent, like those who value tech: Gen Z. Reporting and tracking: These capabilities allow managers to analyze tip distributions, identify trends, and generate comprehensive reports for internal auditing and tax purposes—all without having to make their own spreadsheets.

Tip Distribution 195

Tip Distribution Cash Management Employee Relations Audits 195

7 Shifts

NOVEMBER 18, 2022

More tip management resources. tip credit, meaning the minimum cash wage for overtime hours increases at a higher percentage than regular wages. leaves a minimum cash wage of $5.76 ($10.88 - $5.12). Therefore, the minimum cash wage for overtime increases by $3.63, and the restaurant must provide $57.60 ($5.76

Cash Management 195

Cash Management Restaurant Law Back of House Customer Service 195

Modern Restaurant Management

APRIL 17, 2023

Mobile Order Applications Mobile smart order apps for waiters help to speed up the service and manage the orders right at the guest’s table. A mobile order app will enable the clients to conduct restaurant management and delivery systems automatically, faster, and completely online with the help of new innovative solutions.

Mobile Ordering 179

Mobile Ordering Cash Management Online Ordering Front of House 179

The Restaurant Times

SEPTEMBER 5, 2020

The Covid-19 pandemic has clearly indicated that crisis management requires drastic changes in how the restaurant industry operates. The guiding principle behind future restaurant crisis management should be the safety and security of your business, employees, and customers. Remain Aware Of Current Events.

Management 90

Management Management Cash Management Employee Relations 90

Modern Restaurant Management

NOVEMBER 9, 2023

For small businesses or startups with limited capital, this significant expenditure can strain cash flow and hinder growth opportunities. By opting for a leasing arrangement, businesses can conserve capital by spreading the cost of the ice machine over manageable monthly payments.

Equipment 179

Equipment Cash Management Small Business Innovation 179