Modern Restaurant Management

MARCH 3, 2022

By automating this process, it minimizes error, improves food safety procedures, and prevents inventory spoilage. When you consider that the average three-year ROI on food waste reductions programs is 600 percent p, the impact on ROI becomes even greater. Each year, insurers pay out $2.5 billion for water damage claims.

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Food Food Safety Customer Service Customer Experience 208

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. Reduce Waste .

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Food Truck Sustainability 2021 Food 97

Restaurant365

JULY 24, 2020

Third-party apps can take 30% of your delivery earnings and in-house delivery has its own costs, such as salaries, vehicle maintenance, gasoline and insurance. You’ll also need to check with your insurance carrier to ensure that you’re covered for off-premise activity. Control Inventory for Your Virtual Kitchen.

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Front of House Online Ordering Kitchen Safety Customer Service 147

Restaurant365

MARCH 25, 2020

Before repurposing your FOH staff for delivery, check with your insurance carrier to ensure that you’re covered for off-premise activity. If you’re properly insured for delivery, you can keep your servers, bartenders and other FOH staff working during this uncertain time. Use staff for delivery. Trim menu offerings in the short term.

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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?

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Cash Management Point of Sale POS Inventory 147

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. It includes tools for scheduling , inventory control , fixed asset management and more.

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Point of Sale License Insurance Employee Relations 120

Restaurant365

NOVEMBER 18, 2021

Your restaurant orders, receives, and counts food all in one system: your inventory management software. Your inventory management solution measures and stores all the information you need about your food cost. While there are many details surrounding your food cost data, the actual tracking is relatively simple.

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Employee Relations Cash Management Point of Sale Front of House 148

Restaurant365

OCTOBER 23, 2019

It’s important to note that COGS doesn’t include one-time, non-inventory-related costs, like repairs for a broken oven, new barstools, restaurant decorations, or utility bills. Labor costs include the total wages your employees have earned during that specific period of time, payroll taxes, benefits, and insurance.

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Point of Sale Inventory Employee Relations Insurance 74

Apicbase

JUNE 16, 2023

By regularly tracking his inventory and procurement metrics, Fabio was able to reduce his kitchens’ food costs by 18%. Get a 360-view of your sales & inventory data Adopt restaurant analytics software. Inventory Turnover Ratio This restaurant inventory metric measures how often your business depletes its total inventory.

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Point of Sale Inventory Waste Employee Relations 52

Restaurant365

FEBRUARY 19, 2020

Non-controllable costs, like the fixed costs of rent, insurance, and salaries, are predictable expenses. Occupancy expenses: fixed costs like rent, property taxes, and insurance. For example, restaurants tend to have a large, fast-changing inventory with a limited shelf life, which affects food cost calculations.

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Point of Sale Cash Management Inventory Consumer Goods 120

BNG Point of Sale

AUGUST 19, 2021

Food and drink inventory costs need to include the ingredients costs per meal or per drink. To calculate your CoGS, take your starting inventory amount plus the cost of that inventory and subtract your ending inventory amount. . electric and waste removal.) . Reduce Food Waste with Tight Inventory .

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Cash Management Point of Sale Inventory Food Truck 52

Restaurant365

MARCH 30, 2020

Expanding “off-premise” insurance coverage. Start with the following: Revisit your insurance policy. Your first step will be to call your insurance provider and inquire about on-premise versus off-premise coverage. Depending on your specific situation, expanding your insurance can add up very quickly.

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Delivery Operations Insurance Cash Management 78

Restaurant365

AUGUST 25, 2020

Too much inventory. Common fixed costs include: Rent, insurance, and property tax. Keep Inventory Low. If your restaurant sales are not covering your expenses or if you have extra inventory in your walk-in or dry-storage that just isn’t moving, it may be time to update your restaurant menu. High labor to sales ratio.

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Cash Management Seasonal Menu Inventory Email Marketing 97

Restaurant365

APRIL 20, 2022

These are taken by media (84%), insurance (83%), IT services (81%), telecom (78%), banking (75%), and retail (63%). Our back-office management solutions cover accounting , payroll , scheduling , inventory , manager logbook , and more to give you the insights and intelligence to identify what’s working and what’s not.

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Loyalty Program Customer Service Employee Relations Customer Experience 78

Hot Schedules

NOVEMBER 12, 2020

As business levels continue to fluctuate since early Spring, it is important to keep stock levels to a minimum to preserve cash and minimize waste. To find out how to cut costs, not corners, to effectively manage your supply chain check out our procurement and inventory guide. Keep Stock Levels to a Minimum. Supplier Compliance.

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Supplies Management Management Allergens 78

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). Operating expenses also include fixed costs like your rent, utilities, or insurance. Understand Prime Cost. Calculate Net Income.

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Point of Sale Email Marketing Cash Management Advertising 78

Restaurant365

APRIL 15, 2021

COGS is the total cost of the inventory you used to make the food and beverage items you sold during a specific time period. In addition to the hourly labor costs, you should also include payroll taxes, workers compensation, and employee benefits like health insurance. This may include your rent, waste removal, or the telephone bill.

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Point of Sale Cash Management Beverage Insurance 78

Restaurant365

OCTOBER 1, 2021

Gross profit doesn’t account for other critical operating expenses, like your labor cost, as well as other elements of your overhead like rent and insurance. An integrated point of sale (POS) system, accounting software, and inventory management system allow you to understand your food costs and examine efficiencies. Increase revenue.

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Point of Sale Food Truck Inventory Loyalty Program 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. Reduce waste and theft .

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Food Truck Food Point of Sale Online Ordering 52

Modern Restaurant Management

DECEMBER 10, 2019

You can safeguard your business by maintaining a contingency fund and by paying for insurance. Keep an optimal level of inventory to minimize waste. Having no cash reserve for emergencies means you run the risk of any such unexpected costs that could derail your business's daily operations.

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Cash Management Seasonal Menu Social Media Small Business 120

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 . Occupancy Costs .

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Cash Management Point of Sale Inventory Employee Relations 52

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. Business insurance . Inventory management .

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Employee Relations License Point of Sale Food Supply 52

Mad Mobile

JANUARY 30, 2024

It can also help restaurants save on food costs and waste. Paying at the table through the server’s mobile POS solution is another option where the customer gets insurance of a safe transaction since everything is processed in front of them. Increased order accuracy makes the lives of the server and kitchen staff easier.

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Ordering Mobile Ordering Customer Service Customer Experience 40

Restaurant365

JUNE 4, 2020

The restaurant informed the appropriate state unemployment insurance office of the employee’s rejected offer of reemployment within 30 days of the employee’s rejection. Payments for security systems, credit card processing, and waste removal are not specifically listed as eligible expenses within the forgiveness application.

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Blog Employee Relations Restaurant Law Document 142

Restaurant365

MARCH 15, 2022

You could be doing everything right when it comes to forecasting and scheduling the right number of employees, but if your restaurant group has a high turnover rate, then you’re wasting valuable labor dollars. However, retention must also be part of your hiring strategy. Try releasing benefits one at a time. Be creative with your benefits.

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Hiring Cash Management Insurance Communication 78

BNG Point of Sale

SEPTEMBER 7, 2021

Licenses, permits, and insurance are also needed. . When ordering alcohol inventory, it is recommended to purchase 45% beer, 40% liquor, 5% wine, and 10% mixers. Make sure your staff is not wasting stock unnecessarily. . Costs such as buying the physical assets needed to open a bar are in here.

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Bar Point of Sale Retail 2013 52

BNG Point of Sale

AUGUST 12, 2021

Look at all overhead costs, including real estate, insurance, and medical. Reduce Food Waste . Adopt a first-in, first-out (FIFO) strategy and track inventory tightly. Know your exact liquor costs and food costs – including detailed ingredient costs. Even the local cost of living is important.

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Franchise Franchising Point of Sale Food Truck 52

BNG Point of Sale

AUGUST 27, 2021

Cost of Goods: The total cost of the inventory utilized to produce food and beverage items during a certain period is referred to as the cost of goods sold (CoGS) in this context. Reduce your food waste and environmental footprint to save on COGS and utility bills. . How To Improve Restaurant Profit Margins .

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Point of Sale Social Media Customer Service Online Ordering 52

7 Shifts

JULY 12, 2023

And so now we're paying monthly for these benefits, right, which is a waste of money and they're not using it. And I knew that she didn't have medical insurance, but I went to her and I was like, 'I know that this is going to be a strain. But we do one-offs. So if someone is really hurt, someone fell. It wasn't even on our dime.

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Front of House Back of House Take-out Book 370

Modern Restaurant Management

AUGUST 5, 2020

In recent months, they have been advising clients on issues ranging from Paycheck Protection Program (PPP) loans to reducing and rehiring employees to recovering losses from insurance companies and renegotiating leases. Selvin (insurance and business interruption) and Elliot N. Food waste prevention is more important now than ever.

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Food Safety Mobile Ordering Online Ordering Kitchen Safety 205

Open for Business

DECEMBER 12, 2023

If you skip this step and go straight to submitting your offer to investors through a private placement memorandum, you may end up wasting a lot of time and money if changing the terms is necessary. What to expect from the fundraising process Raising money will be a process with each person you approach.

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Back of House Restaurant Law Email Marketing Small Business 78

OpenTable

JULY 8, 2022

Opening inventory of all food & beverage. If you skip this step and go straight to submitting your offer to investors through a private placement memorandum, you may end up wasting a lot of time and money if changing the terms is necessary. Fees (legal, accounting, consulting, licenses and permits—including liquor license).

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Back of House Front of House Restaurant Law Fine Dining 52