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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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How to Write a Restaurant Business Plan [with Sample]

7 Shifts

When a plan is too wordy, it tends to turn off the reader and can actually prevent them from finishing,” Lauren Fernandez adds that the business plan should be more akin to a sales document, not an A-to-Z tactical roadmap. You can't start a restaurant without a plan. But it doesn't have to be overwhelming. Table of Contents. Download now.

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10 Top Restaurant Technologies To Evolve Your Business

7 Shifts

The first technologies that restaurants often invest in are the cloud-based point of sale (POS) systems and payroll processing. Delivery, scheduling, inventory management, reservations, and guest management have seen technological advancements over the past few years, and it's just the beginning. SkiptheDishes.

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Build Staff Loyalty by Leveraging Payments Technology

Modern Restaurant Management

Easy-to-Use POS Finding the right Point of Sale (POS) system is essential to streamlining operations and keeping employees happy. 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.

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The State of Full Service Restaurants

Modern Restaurant Management

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.

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WHAT RESTAURANT OWNERS GET WRONG

Culinary Cues

In all cases they begin with the same goals: prepare and serve great products that are consistent and offered with a smile, build success on a steady flow of sales and controlled profitability, and do all of this with pride. I have the privilege of working with many different restaurants and food businesses. So why does it sometimes go wrong?

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A Case for Financing

Modern Restaurant Management

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.