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Ready To Sell? Maybe You Should Be

Modern Restaurant Management

By then, he had a well-oiled, cash-flowing operation that he could sell at a premium. Refer back to Rule #11, "Control Your Controllable Costs." First, if you are skimming some cash off the top, you need to stop now. By the end of the first day, we had three full price offers. This is critical.

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Tips to Overcome Your Restaurant’s Cash Flow Crisis

Modern Restaurant Management

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.

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Restaurants Can Fight the Bite of Chargebacks (Infographic)

Modern Restaurant Management

Traditionally, this has meant that the manager comes out and apologizes to the guest, then offers a discount or a comped meal. Online ordering probably saved the restaurant industry, but salvation came at a price. Also, as of 2019, up to 35 percent of in-person restaurant purchases were paid for in cash.

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Restaurant Accounting: A Comprehensive Guide

7 Shifts

By tracking metrics like customer retention and employee turnover rate, contribution margin, and menu item profitability, restaurant managers can identify each area’s strengths and what areas need improvement. This number is essential because it helps you determine the price of your food and beverages.

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Seven Restaurant Trends That Will Define 2022

Modern Restaurant Management

This instability will push operators to trim costs by shortening menus and investing in labor-saving technology to free up cash for wage increases. Restaurants will also explore delivery options beyond costly third-party partnerships, and hike delivery menu prices to make the channel more lucrative as off-premise demand holds steady.

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2023 Outlook: Trends and Challenges Restaurants Will See, Part Two

Modern Restaurant Management

Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. " – John Oakes, Revenue Management Solutions CEO. Slow movers tie up inventory -and the cash needed to by that inventory. Don’t be afraid to increase price.

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Why it’s never been more important for coffee roasters to invest in quality control

Perfect Daily Grind

Green coffee prices remain high, while labour, logistics, packaging, and operational costs have all increased significantly. You may also like our article on why roasters and coffee shops need to strategise menu pricing. It’s a challenging time for roasters in today’s coffee market.