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Owning a Bar: Everything You Need to Know

7 Shifts

Sorting Out Paperwork and Licensing Below is a breakdown of the licenses and documentation you'll need: Business license : The cost of registering your business will vary by state and includes a registration and filing fee. To apply for a liquor license, consult the Alcohol Beverage Control (ABC) Agency) in your state.

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A Comprehensive Guide To Restaurant Profit Margins For All Restaurant Types

7 Shifts

Fixed costs Fixed costs are expenses that remain constant, including rent, insurance, and utilities. If transferring isn’t an option, you can try to reduce other fixed costs like insurance premiums. . Train your staff to use ingredients efficiently and plan your menu to minimize waste. Constantino writes.

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How to Calculate Food Costs For Your Restaurant

7 Shifts

They should understand that pouring out more flour than they need or cutting off too much meat means money wasted. Track and Eliminate Waste According to the National Restaurant Association, between 4 and 10 percent of food is thrown away before it even reaches the table. Include the cost of each item and how much of it went to waste.

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How to Deal with Legal Regulations Affecting Your New Restaurant

Open for Business

How to Deal with Legal Regulations Affecting Your New Restaurant There’s no universal checklist for all of the necessary licenses, permits, inspections, postings, and signage for your new restaurant. All liability with respect to actions taken or not taken based on the contents of this article is hereby expressly disclaimed.

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Restaurant Accounting: A Comprehensive Guide

7 Shifts

This metric helps you measure the amount spent on labor, particularly salaries, worker benefits, insurance, overtime, and payroll taxes. Overhead rate The overhead rate is a metric in restaurant accounting that includes various operational expenses such as utilities , rent, administrative costs, insurance, license, and depreciation.

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Restaurant Budgeting: How to Create A Restaurant Budget

7 Shifts

This can reduce your budget for ingredients and, at the same time, minimize food waste. While it might seem tempting to overspend on your marketing and advertising efforts, the cash you'd use to pay to run your ads could only lead to waste, especially if you don't know much about running an ad campaign effectively.

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The Complete Guide to Restaurant Costs

Restaurant365

One-time costs are one-time purchases, like a lease security deposit or loan down payment, signage, renovation costs, and business licenses and permits. Recurring restaurant costs would include costs like lease or mortgage payments, employee salaries, food and beverage costs, utilities, insurance and permits. Labor Costs. Fixed Assets.