7 Shifts

JUNE 4, 2021

Inventory turnover ratio. Your CoGSs is an essential number to have when determining your menu prices, inventory and impacts your net profit margin. To calculate your COGs, you need the following numbers: Beginning Inventory, or the value of the inventory you start with. Ending inventory , or what you have leftover.

Point of Sale 417

Point of Sale Inventory Employee Relations Customer Service 417

The Food Corridor

SEPTEMBER 14, 2020

The way to mitigate the risk is to take out a robust insurance policy. However, anyone who’s dealt with an insurance broker probably knows how painful this experience can be. An insurance company’s job is to calculate risk and figure out how much to charge you based on the risk level of your business.

Insurance 52

Insurance Food Truck Food Catering 52

7 Shifts

JULY 21, 2020

Healthcare costs: group healthcare benefits, insurance premiums, etc. Whether your restaurant needs to finance payroll, inventory, or a new electric skillet, these loans can make it happen in a jiffy. You can use your business line of credit to finance just about anything: payroll, rent, equipment, inventory, and more.

Cash Management 300

Cash Management Government Small Business Healthcare 300

Modern Restaurant Management

MARCH 3, 2022

A more reliable and efficient approach is to equip refrigerators with IoT-connected sensors that monitor temperatures 24/7 and streamline the logging process. By automating this process, it minimizes error, improves food safety procedures, and prevents inventory spoilage. Each year, insurers pay out $2.5

Food 208

Food Food Safety Customer Service Customer Experience 208

Modern Restaurant Management

DECEMBER 21, 2023

While artificial intelligence (AI) has been a growing component of this technological landscape, its role is expected to evolve into a more supportive capacity, focusing on predictive analytics for improved inventory management and the personalization of customer experiences. Why such a “hard” insurance market?

2023 120

2023 2024 Insurance Employee Relations 120

Restaurant365

SEPTEMBER 23, 2021

For instance, since restaurants primarily sell food and drink, inventory turns over at a very frequent rate, and sales are made up of a high number of transactions. Between inventory, sales, and other data points like labor, restaurants generate an enormous amount of data. What specific issues do restaurants face in accounting?

Cash Management 147

Cash Management Point of Sale POS Inventory 147

Restaurant365

JANUARY 5, 2021

The Act also redefines payroll costs to specifically include group insurance payments made on group life, disability, vision and dental insurance. payment for software and cloud services), perishable goods, and worker protective equipment. This would cover insurance plans such as vision, dental, disability and life insurance.

Insurance 148

Insurance Small Business Employee Relations 2021 148

The Restaurant Times

JANUARY 23, 2022

There can be companies that cater to larger groups, or if you are starting out, you can start small for a party of 20 or 50 people depending on the experience, equipment, and capital you have. Buying Equipment And Sourcing Your Raw Material. These are some of the equipment that you will need to invest in to get started – .

Catering 75

Catering License Insurance Food Supply 75

Restaurant365

DECEMBER 17, 2019

Recurring restaurant costs would include costs like lease or mortgage payments, employee salaries, food and beverage costs, utilities, insurance and permits. Fixed costs such as insurance, rent, and loan payments do not fluctuate month to month. This includes everything from napkins to kitchen equipment, as well as licensing costs.

Point of Sale 120

Point of Sale License Insurance Employee Relations 120

Xtra Chef

APRIL 13, 2020

Commissaries allow food business owners to benefit from a collaborative space in a number of ways, from having access to shared equipment to benefiting from economies of scale and splitting shared costs. You don’t have the outlay on equipment, fridges, storage space, and all the other overheads associated with running your own kitchen.

Food Truck 78

Food Truck Kitchen Safety License Insurance 78

EATER

AUGUST 7, 2023

Three Penny Taproom also has flood insurance. Kerner expects it will bring in about $95,000 and cover refrigeration and other equipment that needs to be replaced, now that the water has receded. Time will tell, with insurance and the rebuild, what we do with that space,” he says. Not every flooded restaurant in Vermont will.

Insurance 97

Insurance 2011 Equipment 2007 97

Society Insurance

SEPTEMBER 28, 2022

They have the proper tools, equipment and training to safely complete the job. Roof leaks can damage ceilings and weaken a building’s integrity which can lead to damage to the building, inventory, contents and business interruption until the leak(s) and roof have been repaired. Society Insurance Protects Your Business.

Insurance 52

Insurance Events Equipment Inventory 52

Restaurant365

OCTOBER 22, 2021

Typically, your total labor cost accounts for “fully burdened labor”, which includes your hourly and salaried wages, payroll taxes, benefits like health insurance or vacation days, bonuses, overtime, and more. An accurate CoGS relies on up-to-date numbers from your inventory management system. How to calculate net profit.

Point of Sale 78

Point of Sale Insurance Inventory Cash Management 78

MBB Hospitality

APRIL 14, 2023

Your budget should cover the costs tied to research, inventory supplies, licensing fees, staff wages, and the usual overhead costs. Securing Permits and Insurance If you want to know how to start a small restaurant, you’ll want to be aware of the paperwork that is involved. A business license may also be required.

License 52

License Food Supply Insurance Small Business 52

Restaurant Clicks

JANUARY 9, 2020

Apply for Permits, Licensing, and Insurance. Purchase Equipment and Find a Food Supplier. Your restaurant concept includes a few factors, all of which will inform restaurant branding, name, location, menu, budget, equipment – basically every other decision you will make. Apply for Permits, Licensing, and Insurance.

License 78

License Equipment Website Management Hiring 78

The Rail

NOVEMBER 29, 2023

There will be electrical and sound equipment needs that will need to be ironed out, whether you have live performers or a DJ. Cost considerations are especially important if the entertainment you are considering requires an investment in equipment or modification of your existing venue.

Entertainment 59

Entertainment Bar Equipment Sports 59

Modern Restaurant Management

MARCH 24, 2021

Even restaurants with preexisting in-house delivery may not have been equipped to handle the increase in order volume that came along with the pandemic. Vehicles, drivers, fuel costs, insurance, payment methods, dedicated prep staff, packaging, storage, tracking, and communication all present challenges. Co-created with Burma Inc.,

Delivery 180

Delivery Customer Service Point of Sale Customer Experience 180

BNG Point of Sale

SEPTEMBER 2, 2021

The costs in this budget include the rent payments, the salaries, insurance, property taxes, and everything else. These expenses include all utility costs associated with production, such as power and gas, as well as employee wages, raw materials inventory, and sales commissions. Equipment repairs . Business insurance .

Employee Relations 52

Employee Relations License Point of Sale Food Supply 52

Restaurant365

APRIL 1, 2020

For a restaurant, your operating cash flow expenses include everything you need to be in business, such as the cost of your food and drink inventory, payroll, utilities, insurance, and rent, as well as expenses like interest on a loan or payments on equipment. Calculation example.

Cash Management 98

Cash Management Management Management Point of Sale 98

Restaurant365

JULY 24, 2020

Restaurant365 customer Wow Bao recently announced it has partnered with operators in various cities to offer alternative sources of revenue by utilizing their space, equipment and personnel to serve prepared Wow Bao staples, while third-party delivery providers provide delivery of the meals to customers. Another con is the cost of delivery.

Front of House 147

Front of House Online Ordering Kitchen Safety Customer Service 147

Restaurant365

OCTOBER 14, 2020

Prime cost is made up of the cost of goods sold, or CoGS (the food and beverage inventory you purchase to make the menu items you sell) and your labor costs (the staff you need to run your business). This may include everything from plateware to your kitchen equipment (both new equipment and routine repairs).

Point of Sale 78

Point of Sale Email Marketing Cash Management Advertising 78

The Restaurant Times

OCTOBER 29, 2021

In the previous articles, we talked about how to open a food truck , why your food truck needs a website and tips related to tax saving and insurance. Not just this, it could increase your insurance and maintenance costs. This eliminates waste and decreases the load on inventory. Use Eco-friendly Equipment.

Food Truck 97

Food Truck Sustainability 2021 Food 97

The Restaurant Times

APRIL 7, 2022

Buying insurance. Buying equipment . Once everything is finalized, you need to plan and buy restaurant equipment. Plan what you need before going shopping, as the equipment is usually a one-time investment. . Therefore, it is important to evaluate the investment you need and how you will raise it.

Fine Dining 52

Fine Dining Dine-in License Point of Sale 52

The Restaurant Times

SEPTEMBER 30, 2021

Consider the upfront cost of new equipment against the continuing expenditures of maintenance, upgrades, or modifications that a used alternative could incur over the first year or two. . Map out your route, your kitchen supplies, storage, equipment, and the number of staff you want. Insure your truck . Rules and Regulations .

Food Truck 52

Food Truck Food License Mobile Ordering 52

Lavu

JANUARY 21, 2020

The system will help you track your labor and inventory costs, methods of payment, and other important information. . They include the cost of paying a mortgage or rent, permits, insurances, equipment costs, and certain operational expenses. Track Restaurant Inventory. Check Sales Regularly.

Point of Sale 78

Point of Sale Inventory Restaurant Law Front of House 78

BNG Point of Sale

JULY 30, 2021

Additionally, you’ll want to buy insurance for your truck. Insurance comes in many varieties. A food truck is likely to have similar food costs as a brick-and-mortar restaurant, but they save on costs like rent, insurance, staff, and utilities because they have lower overhead. Promote your food truck business .

Food Truck 52

Food Truck Food Point of Sale Online Ordering 52

Modern Restaurant Management

DECEMBER 16, 2021

This is why next year, operators will offer more benefits like hiring incentives, higher hourly wages, health insurance, paid time off, earned wage access (EWA) and more to not only hire fresh labor, but retain top talent. It isn’t unemployment benefits giving employees pause: it’s underappreciation.

2022 186

2022 Hospitality Loyalty Program Point of Sale 186

The Restaurant Times

AUGUST 5, 2022

You can easily calculate the COGS for the week by subtracting the inventory at the end of the week from the beginning inventory. Once you have a clear idea of the cost of your inventory, you can effectively decide the profits you want to make on each plate. Automated Inventory Management. Labor Costs . Operating Cost.

Cash Management 52

Cash Management Point of Sale Inventory Employee Relations 52

The Restaurant Times

SEPTEMBER 22, 2021

All your investments in your food truck, equipment, and inventory might just entirely go in vain. One way to deal with such problems is to insure your food trucks. You can choose from the best insurance companies to safeguard your business from any liabilities, crashes, and other damages that might put your business to risk.

Food Truck 52

Food Truck Food Seasonal Menu Insurance 52

7 Shifts

MAY 11, 2020

Run through our guide to reopening your restaurant to plan your labor, inventory, marketing, and more so you can reopen with a bang. Social distancing and protective equipment ?? Plan your reopening timeline The first question to ask yourself (and your team) when planning a reopen is “when”?

BOH 368

BOH FOH Food Safety Equipment 368

Restaurant365

AUGUST 19, 2020

for employers with 50 or more full-time employees and self-insured employers of any size. Restaurant HR and payroll can be complex, but with an understanding of the basic concepts, you are better equipped to meet any new challenges. Reporting is required. Conclusion.

Restaurant Law 131

Restaurant Law Recruiting Employee Relations Food Safety 131

BNG Point of Sale

AUGUST 27, 2021

Your net profit is the amount leftover from the gross profit after you deduct operating expenses like payroll, rent, utility bills, ingredients, and equipment leasing costs. This number is helpful to measure restaurant efficiency, but it does not consider all your operating expenses. . Net profit . Sales revenue . Expenses .

Point of Sale 52

Point of Sale Social Media Customer Service Online Ordering 52

Restaurant365

AUGUST 19, 2021

Restaurant accounting covers all areas of your business, even inventory. While you may think of your restaurant inventory as part of operations, restaurant inventory management should also be considered an accounting function. So, inventory has an important place in your restaurant accounting.

Inventory 147

Inventory Management Management Employee Relations 147

Restaurant365

AUGUST 21, 2020

Reporting is required for employers with 50 or more full-time employees and self-insured employers of any size. Restaurant HR and payroll can be complex, but with an understanding of the basic concepts, you are better equipped to meet any new challenges. Conclusion.

Blog 78

Blog Restaurant Law Recruiting Employee Relations 78

OpenTable

JULY 8, 2022

Furniture, fixtures, and equipment. Kitchen equipment. Opening inventory of all food & beverage. Fees (legal, accounting, consulting, licenses and permits—including liquor license). Front-of-house smallwares. Back-of-house smallwares. Dining room furniture. Point-of-sale system. Reservation system.

Back of House 52

Back of House Front of House Restaurant Law Fine Dining 52

SpotOn

MARCH 25, 2024

Here, we'll discuss what you must consider when looking at the construction costs, equipment costs, interior design costs, and licenses and permits. Equipment costs Like all your restaurant startup costs, kitchen equipment, and small wares are directly connected to the concept. How much are COGS for restaurants?

License 52

License Insurance Point of Sale Equipment 52

Modern Restaurant Management

AUGUST 31, 2021

With the laundry list of everything bar and restaurant owners need to handle on a daily basis, proper insurance coverage should be top priority. Proper communication with the insurance agent about all the ins and outs of the restaurant can help set up the policy right from the get-go.

Bar 186

Bar Insurance Employee Relations Certification 186