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By Indiana Lee, Contributor The restaurant industry is one of the most fast paced in America, with new trends, dishes, and technologies emerging year-round. This ever-changing nature makes training your staff that much more important, as your success hinges on the performance of your team.
As the restaurant industry continues to evolve in 2025, effective legal strategies are more important than ever for operators aiming to grow and scale their businesses properly. From franchise compliance to mergers and acquisitions (M&A) terms, the right legal frameworks can guide a restaurant company to long-term, sustained success.
The holiday season brings bustling crowds, higher sales, and festive celebrations, making it a prime time for restaurants and bars. Train employees to identify phishing attempts and maintain PCI compliance to safeguard customer data and ensure secure payment processing.
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.
Are you thinking about owning a restaurant? You are not alone if the thought of putting your name on a restaurant awning has crossed your mind. One of the most tempting forays into entrepreneurship is the restaurant business. Instead, let’s look at some of the common reasons why restaurants fail (this is only a sampling).
Florida is a great place to operate restaurants thanks to its huge tourism draw and an influx of retirees with disposable income. But beyond minimum wage laws, there are other Florida-specific regulations—like overtime laws and child labor laws—that affect the restaurant and hospitality industry.
Modern RestaurantManagement (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. Read the first part, here. For the second part, click here. An issue that may arise from this in 2024 is data privacy.
Customer satisfaction is always the top priority in the hospitality and restaurant industry, so it's essential to know how to handle aggressive customers in a way that will diffuse the situation and leave the customer satisfied. Learning how to respond to an aggressive customer is a crucial step for any restaurant owner.
Due to the COVID-19 pandemic, restaurant owners scrambled to adjust to new laws, procedures and safeguards. Now that most restaurants have opened their doors, they’re realizing that the landscape has changed. Owners and managers can struggle with keeping their teams accountable and up the standards they expect.
Some of the biggest restaurant businesses on the planet are franchises. They employ thousands of people and have served billions, and with so many people affected, it's understandable why there are franchise-specific laws and regulations in place. Who Regulates Franchise Compliance Laws? Federal Law Compliance.
This edition of Modern RestaurantManagement (MRM) magazine's Research Roundup features the present and future of AI use in F&B, The Splintered Path to Purchase, the Datassential 500 Awards, and where chefs are earning six figures. At the same time, U.S. chain sales grew just 3.1 percent in 2024 — falling short of the 4.1
And how are other restaurants and industry insiders responding to this growing health concern? ” The cashless multi-vendor open-air gastronomic market has two locations in Prague, and a total of 34 independently operated restaurants, bars and retailers. Eat healthier.” We are trying to be responsible and calm.”
Due to the Covid-19 outbreak effect on the restaurant industry, Modern RestaurantManagement (MRM) magazine is compiling a list of resources available for restaurant owners, operators and managers. The National Restaurant Association has provided a list of best practices to ensure business continuity.
Nearly 200,000 quick-serve restaurant establishments in the United States are not owned by the company whose name is on the building. At a glance, opening and operating a restaurant franchise seems like a near-perfect business decision. of weekly gross sales for franchise royalties and advertising. coli after eating at Chipotle.
Are you opening a restaurant in 2020? This advice were submitted by owners and managers of restaurants of all sizes, concepts, and locations in the forthcoming 7shifts Restaurant Labor Management Study in 2020 ( subscribe to get your copy when it’s published!). Advice for opening a restaurant from restaurateurs 1.
This edition of MRM News Bites features a double dose from US Foods, SpotOn Transact, DoorDash Kitchens, Virtual Restaurant Consulting, Tripleseat and Gather, wagamama, Toast, The Gluten Intolerance Group, Instawork and StaffMate Online, Procurant and Yellofin, Sift, 7shifts, ParTech, Revel Systems and Como, Kabbage, Bluecrew and Cuboh.
Managing payroll manually in restaurants is time-consuming and error-prone. Payroll automation solves these issues by streamlining tasks like tracking hours, distributing tips, and ensuring compliance with labor laws. Simplifies compliance with labor laws and tax regulations.
Restaurants and bars are often targets for robbery, burglary and theft , so much so that the FBI ranks restaurants as the eighth most common setting for violent crime and nearly half of cyber-attacks target small businesses. Invest in a drop safe and keep cash in the registers to a minimum.
Restaurant accounting isn’t easy. Learning basic accounting is like studying a different language, regardless of how many decades you have in the restaurant industry. Learning basic accounting is like studying a different language, regardless of how many decades you have in the restaurant industry. Sounds complicated?
Running a successful restaurant isn’t just about great food and service—it’s also about smart financial management. Restaurant accounting tips plays a crucial role in tracking expenses, managingcash flow, and maximizing profitability. So, what is restaurant accounting?
Managing accounts payable (AP) for restaurants efficiently is vital to running a successful restaurant. From keeping up with invoices to negotiating better payment terms with suppliers, these steps can ensure smoother operations, improved cash flow, and stronger relationships with your vendors.
In this edition of MRM News Bites, we feature the Takeout For Good Effort on June 2 and a host of products designed to help restaurants keep guests and staff safer as they reopen. GroupRaise is inviting restaurants across the country to join their Takeout For Good initiative happening on June 2. Takeout For Good.
The way customers pay is evolving, and restaurants are adapting quickly. If you’re wondering why restaurants are going cashless, the answer lies in speed, security, and customer preference. Phasing out paper money entirely would be a huge undertaking, and some restaurants have stopped accepting bills or coins.
Managing payroll in a fast-paced restaurant environment isnt just about cutting checksits about accuracy, compliance, and keeping your team satisfied. Yet, restaurant payroll management often comes with challenges like time tracking errors, tax issues, and inconsistent scheduling. error rate , compared to a 6.1%
Modern RestaurantManagement (MRM) magazine asked restaurant industry movers and shakers: "What do you feel is going to cause disruption in the restaurant industry over the next decade?” Christopher Baron of RedBaron Consulting.
Did you know that nearly 60% of restaurants fail within the first year due to financial mismanagement? It’s critical for restaurant owners to understand and monitor key profitability ratios to ensure financial health and longevity. In essence, restaurant profitability ratios are integral to a restaurant’s fiscal success.
Did you know that nearly 60% of restaurants fail within the first year due to financial mismanagement? It’s critical for restaurant owners to understand and monitor key profitability ratios to ensure financial health and longevity. In essence, restaurant profitability ratios are integral to a restaurant’s fiscal success.
It’s hard to escape the continuing boom in restaurant franchises. Quick-serve brands are leading the trend, and not just for restaurants, but for franchises overall. The pressures extend beyond balancing higher costs in an inflationary environment or the never-ending challenge of finding, training and keeping good staff.
This discussion will provide a roadmap for mastering the art of accounting in the world of restaurants and bars. Key Takeaways Understanding hospitality accounting is crucial for efficiency, profitability, and making informed business decisions in restaurants and bars. But, why is this so crucial to your business’s success?
Want to improve your restaurants performance? Start by analyzing these Top 7 POS Sales Reports to know where your restaurant is headed. These reports help you understand sales trends, manage inventory, optimize staffing, and improve customer satisfaction. Product mix reports also help you manage inventory smarter.
The Distilled Spirits Council of the United States (DISCUS) announced the formation of the Hospitality Recovery Coalition with the goal of supporting on-premise partners, including restaurants, bars and distilleries, facing harsh economic impacts due to the COVID-19 crisis. Each member of the coalition is committed to responsibility.
Key Takeaways Accounting and bookkeeping services in UAE offer detailed financial record-keeping, cash flow management, and compliance with local taxation laws. Specialized hospitality accounting services cater to unique revenue streams, manage high volume transactions, and ensure compliance with industry regulations.
Those disparities only worsened during the pandemic, as restaurants closed and the prospect of earning a living from tips became even more precarious. With each chapter, she highlights the ways the tipped minimum wage exploits workers from a particular job category, including restaurant servers, delivery drivers, nail technicians, and more.
Did you know that nearly 60% of new restaurants fail within the first year, often due to poor financial management? Understanding the basics of accounting can significantly improve a restaurant’s odds of success. Let’s take a closer look at this critical aspect of running a profitable restaurant business.
While some organizations have made strides to provide child care for restaurant staff, easy child care solutions are far from the norm for restaurant workers When Lisa Baptiste worked as a restaurant host, it was a constant puzzle finding someone to watch her 6-year-old Kennard. Because if not, then I would have to leave work.”
Just like a key can unlock a door, innovative hospitality finance solutions can open up new avenues of growth for hotels and restaurants. Key Takeaways Understanding hospitality finance is vital for tackling industry-specific challenges and driving growth in hotels and restaurants. Learn more about our Accounting Services !
Modern RestaurantManagement (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. The virtual kitchen model allows restaurants to maximize delivery coverage without the upfront investment that a traditional brick-and-mortar location requires.
The question for restaurant operators now is: What’s next? Can restaurants reshape their relationships with 3rd-party delivery apps for the better, or will they be buried under incomprehensible charges and over-itemized bills? New Law Demands Transparency from 3rd Party Delivery Apps. Why Itemized Bills Are Good for Restaurants.
The year 2020 prompted enormous changes in the restaurant industry. The events of this year made running a lean, streamlined restaurant business a necessity to survive the many shifts. As 2021 begins, there are many restaurantmanagement best practices that can be applied to strengthen your business, in the short and long term.
Selling a restaurant can be a major decision for many reasons. One of the main reasons is to cut losses due to financial challenges, with 52% of restaurant owners saying high operating and food costs are really cutting into their profits. If restaurants in your area sell at a multiple of 2.5
However, note that bar profit margins vary due to various factors like tax rates, licensing laws, customer demographics, and the cost of living in your area. Zoning and health regulations: Get acquainted with your location's zoning laws to know what to do, what permits to get, and what laws to follow.
Sample Bookkeeping for Restaurants and Bars: In the hospitality industry without precise record-keeping, even the most successful establishments can find themselves adrift, struggling with cash flow, compliance, and ultimately, profitability. Bookkeeping is the often-unsung hero, forming the bedrock of smart financial management.
Did you know that payroll/labor makes up almost one-third of a restaurant's operating costs ? Understanding the ins and outs of paying employees, observing labor laws, and complying with the tax code is critical to running a business. Restaurant payroll is a system for calculating and managing the salaries of employees in a restaurant.
If you think it’s all sunshine running a new restaurant in Dubai, you’re in for a surprise when the bookkeeping reality bites. It’s not simply about logging in receipts or payroll numbers, there’s a whole world of financial regulations, taxation laws and accounting intricacies that you need to consider.
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