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

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 208

POS Front of House Cash Management Online Ordering 208

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 431

Hotels Point of Sale Cash Management Training 431

7 Shifts

SEPTEMBER 7, 2021

Either diners have switched to ordering the more expensive items off the menu, or we're seeing very strong inflation of prices on menus. This is the silver lining: even as menu prices have increased, guests are tipping more. Make small menu price adjustments. Streamline your menu. in 2019 and $99.50

Tip Distribution 370

Tip Distribution 2021 2019 Cash Management 370

Modern Restaurant Management

NOVEMBER 9, 2023

By paying regular lease payments over a specified period, you can preserve your capital and allocate your resources to other critical areas of your business, such as marketing, staff development, and menu innovation.

Equipment 197

Equipment Cash Management Small Business Technology 197

Modern Restaurant Management

MARCH 14, 2024

They've also shared about shifts and growth in the pizza industry and three ways to increase a pizzeria or pizza chain’s cash flow. Ways to Increase Cash Flow Pay attention to internal issues and delivery orders – especially during peak hours. Make sure you’ve got the fan-favorite menu items covered.

Online Ordering 110

Online Ordering Cash Management 2023 Inventory 110

7 Shifts

NOVEMBER 18, 2022

More tip management resources. Passing part of this cost directly to tipping customers allows restaurants to retain more capital; it makes it easier to keep menu prices lower, hire additional staff , enable investments in your team, and expand your business. leaves a minimum cash wage of $5.76 ($10.88 - $5.12).

Cash Management 195

Cash Management Restaurant Law Back of House Customer Service 195

7 Shifts

JUNE 29, 2022

Menu Consistency. A consistent menu ensures standard serving across locations. Often cited as one of the biggest challenges to operating a franchise , however, the lack of control over menu offerings and their prices can potentially cause dissension from franchisees. Proper Team and Labor Management Tools.

Franchise 370

Franchise Franchising Restaurant Law Document 370

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 215

2024 Loyalty Program Cash Management Customer Experience 215

Culinary Cues

AUGUST 7, 2021

STATE OF MIND: Many are approaching this challenge as a roadblock to success, something that is preventing restaurants from finally getting their groove back and watching cash flow exceed the cost of doing business. Menu item profit margins are typically low, making it difficult for restaurants to find the reserves to pay better wages – why?

Social Media 474

Social Media Cash Management Blog Equipment 474

Modern Restaurant Management

DECEMBER 10, 2019

According to a study, 82 percent of small businesses fail due to cash flow problems. A cash flow shortage occurs when more money is flowing out of the business than is flowing into it. During a cash flow shortage, you might not have enough capital to cover your payroll or other operating expenses.

Cash Management 124

Cash Management Seasonal Menu Social Media Small Business 124

7 Shifts

NOVEMBER 22, 2021

premium pricing), your location, your menu, and the promotional strategies (e.g., Management Team : document your team and why they have the experience and expertise to make your restaurant a success. The primary consideration in the SBA loan decision process is the business' ability to repay the loan from the cash flow of the company.

Document 393

Document Cash Management Small Business Take-out 393

Modern Restaurant Management

FEBRUARY 16, 2022

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?

Cash Management 207

Cash Management Food Supply Seasonal Menu Social Media 207

7 Shifts

OCTOBER 31, 2022

The management team. Management team. Sample Menu. You don't, by any means, have to have a menu ready to go. A sample menu can go a long way in helping a potential investor imagine themselves eating at your restaurant. You may want to list out: Team Management. Inventory management systems.

Point of Sale 397

Point of Sale Back of House Document Download 397

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 207

Mobile Ordering Cash Management Online Ordering Front of House 207

Modern Restaurant Management

NOVEMBER 21, 2022

Additionally, menu prices at casual dining establishments rose by an average of 9 percent year over year from 2021. The decreased patronage along with inflation increases running costs, which means increased menu prices. Invoice processing, ordering, food cost management, and analysis are a time consuming, but necessary evil.

Operations 197

Operations Cash Management Seasonal Menu Loyalty Program 197

Modern Restaurant Management

APRIL 7, 2023

A 2020 Harvard Business School study reported that 74 percent of businesses do not have the cash on hand to cover an equipment-related expense. JPMorgan Chase found the median small business holds 27 cash buffer days in reserve. The restaurant industry falls behind the median with an average of only 16 cash buffer days.

Cash Management 100

Cash Management Equipment Front of House Small Business 100

7 Shifts

SEPTEMBER 10, 2021

Tips are a huge part of restaurant compensation and tip pooling is often so complex it becomes a part-time job worth of work for managers. Restaurant managers can spend up to 8 hours a week calculating tips with traditional methods. Ready to save up to 8 hours a week on tip pooling with 7shifts team management platform?

Tip Distribution 370

Tip Distribution Management Management Back of House 370

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. Cost out your menu items and recipes.

2021 136

2021 Cash Management Management Management 136

7 Shifts

NOVEMBER 17, 2021

Both situations could have been prevented with proper restaurant inventory management, which gives restaurant operators better oversight over what's in stock and how it is used. The Best Restaurant Inventory Management Software. Choose The Right Inventory Management System. The Basics of Restaurant Inventory Management.

Inventory 370

Inventory Management Management Point of Sale 370

Modern Restaurant Management

DECEMBER 30, 2022

Restaurants, like Los Angeles’ Blu Jam Cafe , have embraced QR codes to navigate a limited front-of-house staff, allowing diners to view the menu, order and pay, and enabling front-of-house staff to focus on food running and seating. Redefining the Role of the Manager. Simplicity Is Key.

Technology 208

Technology Front of House 2023 Cash Management 208

Culinary Cues

JULY 14, 2023

If you are making a cash deposit – take an extra few seconds to make sure the bills are facing in the same direction, and not bent, properly counted, and double checked for accuracy. Then go about finding out how to be a world-class dishwasher, breakfast cook, prep cook, grill person cooking hot dogs, server, bartender, chef, or manager.

Cash Management 304

Cash Management Uniforms Food Supply Café 304

7 Shifts

MARCH 11, 2020

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 need roughly 10% down on your space.

License 354

License Cash Management Inventory Food Supply 354

EATER

APRIL 10, 2024

It’s called Bankside, with a menu that includes peel-and-eat shrimp, clam chowder, crispy cod sandwiches, and a lobster roll. The chefs develop the menu and recipes, lending their famous names. Three months after creating his menu, Johnson returned to the kitchen and Wonder’s chefs served him their version of his food. “I

Delivery 133

Delivery Cash Management Point of Sale Back of House 133

Modern Restaurant Management

NOVEMBER 24, 2020

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. Evaluate whether internal systems are running at their peak and identify opportunities to introduce new menu items or to open new locations.

Cash Management 230

Cash Management Social Media Seasonal Menu SEO 230

Modern Restaurant Management

FEBRUARY 3, 2022

Seventy-four percent of full service restaurants (FSRs) managed to maintain or increase their sales during the pandemic; however, profit margins in 2021 declined to 10 percent, compared to 12 percent in 2019, according to third annual State of Full Service Restaurants Report released by TouchBistro.

Loyalty Program 194

Loyalty Program Online Ordering Cash Management Point of Sale 194

Modern Restaurant Management

MARCH 1, 2023

Is your restaurant up to speed with the latest best practices for back of house (BOH) management? So, which back of office trends should restaurant ownership and management be concerned with heading into 2023? They include restaurant management tips for cutting costs, decreasing food waste, and much more.

Front of House 171

Front of House BOH Back of House 2023 171

7 Shifts

DECEMBER 8, 2020

Have a cocktail or menu competition The next time you are changing up your menu, open up a slot for an item that will be created by a member of your kitchen or front of house staff. Whoever the team decides is the winner, that staff member wins the honor of having their item on the menu for a set amount of time.

Front of House 370

Front of House Social Media Employee Relations Back of House 370

Modern Restaurant Management

JANUARY 30, 2024

Research New Offerings Rigorously Before Adding The question of whether, when and how aggressively to add new menu items, expand hours/days, launch catering options or open another location has substantial implications for restaurateurs. Expand thoughtfully at a manageable pace that allows teams and culture to season properly.

Leadership 203

Leadership Small Business Cash Management Customer Experience 203

Restaurant365

AUGUST 25, 2020

Comprehending your restaurant cash flow is essential to running your restaurant business. Cash flow refers to the amount of cash coming into your restaurant minus the amount of cash going out on a daily, weekly or monthly basis. Common factors that cause cash flow issues. Too much inventory. Unexpected expenses.

Cash Management 97

Cash Management Seasonal Menu Inventory Email Marketing 97

Focus POS

JUNE 17, 2021

Like age verification, there are other inherent hurdles to running a bar that, when poorly managed, can lead to severe issues. It’s crucial that you can produce what’s on your menu with liquor inventory integration. Even after guests have left the bar or nightclub, you can collect and analyze data to make decisions about: Drink menu.

Bar 148

Bar Cash Management POS Point of Sale 148

7 Shifts

JULY 28, 2021

You would think something as second nature to people as communication would be easy to manage in the workplace. Communication is the key to facilitating productive relationships between managers and employees. Keeping your staff in the dark about upper management decisions. The best way to manage is to do so with your own eyes.

Communication 430

Communication Management Management Front of House 430

ChefMod

MAY 13, 2024

AP automation solutions specifically designed for hospitality help restaurant owners optimize their purchasing process, recipe management, inventory, analytics, GL mapping, and visibility into expenses across all suppliers. Accounts Payable (AP) Automation simplifies and streamlines the management of your company’s outgoing expenses.

Cash Management 40

Cash Management Inventory Audits Management 40

7 Shifts

JANUARY 23, 2020

As you plan out your concept, location, menu, staffing, and marketing, take a read through the advice left by hundreds of restaurateurs to ensure you’re set up for success in 2020. Ensure your business plan is real and not theoretical, in order to understand every operation cost you will come to a head with, and ensure positive cash flow.

2020 335

2020 Hiring Cash Management Education 335

Xtra Chef

DECEMBER 30, 2020

Here are some of the actions, accomplishments and highlights of the past year… We introduced Recipe Management – a recipe for restaurant profitability. In January 2020, we launched our Recipe Management feature, giving our customers the ability to calculate plate costs easily, accurately and dynamically.

2020 151

2020 Cash Management Point of Sale 2021 151

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

JUNE 9, 2022

Reviewing your data from past menu adjustments may reveal an increase in the price of a chicken sandwich would create less of an impact on sales than bumping up the price of a hamburger. Glean data insights to help manage and build your team. Another way to slice and dice data is to comb through food costs.

Front of House 196

Front of House Point of Sale POS Cash Management 196