Remove Insurance Remove License Remove Take-out
article thumbnail

Average Restaurant Profit Margins: What They Are And How to Improve Yours

ChowNow

A spike in food costs, a drop in sales volume, or one slow season can wipe out months of hard work. It factors in all your operating expenses, like labor, rent, insurance, equipment repairs, marketing, and more. came to $35,000, and your operating expenses (labor, rent, insurance, etc.) Thats what you actually take home.

article thumbnail

How to Read a Restaurant P&L (Profit and Loss) Statement + Free Template

SpotOn

Restaurant P&L basics Sales Cost of Goods Sold (COGS) Labor costs Overhead costs Profit and profit margins Using your P&L statement Restaurant P&L basics A restaurant profit and loss statement is a spreadsheet that shows how all your money is coming in (sales) and where it's going out (costs). Pretty substantial. Smallwares.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Restaurant Accounting Tips Made Simple: Expert Ways to Boost Profits in 2025

Lavu

You may feel that they are pulling you away from where the real action is, out front and in the kitchen. Take time to learn about your local tip credit rules and incorporate them when calculating your labor costs. Chart of Accounts: This is a list that describes the areas where the money flows in and out of the restaurant.

article thumbnail

Restaurant Profit Margin: 7 Ways To Actually Make Your Operation More Profitable

SpotOn

Restaurant profit margin calculator How to lower restaurant costs How to increase restaurant sales Gross and net profit margins for restaurants In restaurants, profit margin is the percentage of revenue left over after expenses and costs are taken out. Then take our restaurant profit margin calculator for a spin. More on that below.

article thumbnail

The Land of Misfits with Don Pirone

SpotOn

He worked at a pizza restaurant with a beer and wine license that seemed like the pinnacle of luxury at the time. “Between the business we’re doing now and the cost savings on credit card fees, it’s freed up money for us to offer health insurance for our staff,” says Selvagn. 

article thumbnail

How Insurance Needs Differ for Traditional Restaurants v. Mobile Food Businesses 

Modern Restaurant Management

Traditional sit-down restaurants and mobile food businesses have uniquely different needs when it comes to insurance. While there is some overlap in coverage needs, it’s important to understand the differences when it comes to insuring your business. Traditional Sit-Down Restaurant Insurance Needs. Property Insurance.

article thumbnail

2024 Outlook: Restaurant Trends and Challenges, Part One

Modern Restaurant Management

This could take the form of creative blended financing structures, open innovation platforms, infrastructure partnerships, and commercial collaborations as the industry enters its next phase of maturity. . – Amy Chen, COO, UPSIDE Foods License Plate Recognition (LPR) is already playing a vital role in business security infrastructure.