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Restaurant Budgeting: How to Create A Restaurant Budget

7 Shifts

However, as a rule, the primary costs you can expect in running your restaurant are usually related to food, labor, and rent. This can reduce your budget for ingredients and, at the same time, minimize food waste. For instance, you might be running your ads on Facebook incorrectly by targeting the wrong audience.

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15 Restaurant Metrics to Know and How To Use Them

7 Shifts

Numbers can give us insights into everything from profits and losses to average customer spend to how often employees cycle through. Employee turnover rate. Labor cost includes all labor-related categories: Employees, both hourly wages and salaries. Employee Turnover Rate. What is employee turnover rate?

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Guest Blog: PPP Loan Forgiveness for Restaurants

Restaurant365

We have outlined answers to some frequently asked questions as it relates to the guidance currently in place: When does the 8 week forgiveness period begin? The 8-week (56-day) forgiveness period is referred to as the “Covered Period.” The selected reference period can either be the period from 2/15/19-6/30/19 or 1/1/20-2/29/20.

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Typical Restaurant Overhead Costs and Expenses

BNG Point of Sale

This blog post will go over the typical restaurant overhead costs and expenses, including rent, utilities, labor wages for employees, licenses and permits, food cost percentages, and more. Operating expenses, which are not related to production, are overhead costs. Business insurance . Overhead costs are your everyday expenses.

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How to Onboard Restaurant Staff: A New Hire Checklist for Restaurant Employees

Touch Bistro

A new hire checklist for restaurant employees can make the onboarding process easy and painless for all parties involved. After all, employees are the heart of your restaurant, and setting them up for success starts with the onboarding process. What Is Restaurant Employee Onboarding? Get Your Employee Handbook Template.

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A Step-By-Step Guide To Restaurant Accounting

The Restaurant Times

COGS refers to the total expenses and costs that are involved in the production of goods in a business. Labor costs also include payroll taxes and employee benefits. Occupancy costs are the sum of all the expenses related to the location of your restaurant. Cost of Goods Sold (COGS) . Occupancy Costs . Operating Cost.

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9 Restaurant Cash Flow Tips for Your Recovery and Beyond

Restaurant365

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 fixed costs include: Rent, insurance, and property tax. Also, cross utilizing menu items helps reduce waste and save money. These costs do not fluctuate. Utility bills. Variable Costs.