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The restaurant industry continued to grow in 2024 with sales forecasted to top $1 trillion for the first time in history, according to the National Restaurant Association’s 2024 State of the Restaurant Industry report. That’s time many busy restaurateurs just don’t have to spare.
Restaurants collect a ton of customer data. Why You Should Be Using Customer Data to Grow Your Restaurant Customer data can look like just a list of names, numbers, and order histories, but when looked at more closely, it reveals patterns, preferences, and opportunities to make stronger connections with your guests.
For restaurant owners and operators, success depends on more than just great food and excellent serviceit requires staying informed, connected, and supported. One of the most effective ways to achieve this is by joining your state restaurant association.
In today's digital landscape, restaurants have become prime targets for cybercriminals who take advantage of potential entry points from point-of-sale systems, online ordering platforms, customer databases, loyalty programs and third-party delivery services. Consider the alarming pattern over the past three years.
Finding a well-rounded bar manager can be the determining factor in the success of your business. How would you respond to a situation where the bar is short-staffed during a busy shift? As such, knowledge of the law and how to train staff to comply is crucial. What would make you say that an event or promotion was successful?
In this article, you will learn: The five most important restaurant costs to track and manage Easy strategies for controlling food costs and labor costs Tactics to save money without hurting your guest experience Lets start with the big picture and learn where your money is actually going. Are you overstaffed on slow days?
Owning a restaurant is difficult enough on its own, without the added challenge of managing payroll. But while you might think this is a cost-effective way to do business, it’s actually a drain on your time and efficiency. payroll, tip outs, scheduling) in one place and was crafted specifically for the restaurant industry.
Running a restaurant without tracking your key metrics is like flying blind. Restaurant KPIs are numbers that go beyond basic accounting to help you see how every part of your business is performingfrom your profit margins to your guest experience. What Are Restaurant KPIs and Why Do They Matter?
Is your local restaurant overpaying for payroll? Get Free Payroll for Restaurants and simplify payroll management effortlessly. Reduce errors, save money, and streamline operations with our easy-to-use payroll system designed for restaurants. Not purpose built for restaurants.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news of dramatic Valentine's Day shift, best food scenes, and the evolution of c-store foodservice. As they grapple with rising costs across their supply chain, 71 percent of restaurants plan to increase prices this year.
MORE , or Movement to Organize for Restaurant Equity,, is led by industry veterans and seeks to address challenges from Diversity, Equity and Inclusion (DEI) under attack to economic instability, striving for a more equitable and sustainable future for the 12 million people employed in the nation’s second-largest private industry.
Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2025. It is atop the list for restaurants looking to modernize, differentiate, and elevate experiences. Data, Data, Data.
Running a successful restaurant isn’t just about great food and service—it’s also about smart financial management. Restaurant accounting tips plays a crucial role in tracking expenses, managing cash flow, and maximizing profitability. You cannot manage your restaurant properly without going into the accounting details.
"The pandemic forced the restaurant industry to reinvent itself overnight, moving from a primarily in-store dining experience to an omnichannel, digital-first business. " As we mark the fifth anniversary, MRM magazine surveyed restaurant insiders about the pandemic’s lasting impact on their businesses and the industry.
Just as a master chef carefully balances flavors, restaurant owners in NYC must balance their books. Outsourcing bookkeeping services can offer a plethora of benefits, from saving precious time to providing accurate financials tailored for the restaurant industry. Learn more about our Accounting Services !
But nail your restaurant survey questions, and you’ll gain access to information that drives your spot forward. Here are some tips and sample questions to help you gather meaningful insights that will move the needle for your restaurant. That’s the golden rule of restaurant survey questions.
The way customers pay is evolving, and restaurants are adapting quickly. If you’re wondering why restaurants are going cashless, the answer lies in speed, security, and customer preference. If you think the business cashless trend is crazy, you’re not alone. In 2025, staying competitive means embracing digital payment trends.
Today we’re looking at the newest and most controversial technology on the market: 3D food printing 3D food printing is no longer a futuristic concept—it’s becoming a practical innovation in modern restaurant kitchens. So long as the design fits the spatial limitations of the printer—and is within the laws of physics—food can be printed.
“Time is money” is an old saying that rings especially true in the fast-paced restaurant industry. With the myriad responsibilities a restaurant owner juggles, it’s easy to overlook the financial side of things. That’s where bookkeeping software for restaurants comes into play.
Did you know that nearly 60% of new restaurants fail within the first year, often due to poor financial management? Understanding the basics of accounting can significantly improve a restaurant’s odds of success. Let’s take a closer look at this critical aspect of running a profitable restaurantbusiness.
Is it not a paradox that in the bustling world of restaurants, where every cent counts, the handling of tips often falls through the cracks? While a seemingly small detail, the proper management of tips can significantly impact a restaurant’s financial health and its employees’ satisfaction. Curious to find out more?
Consider a bustling restaurant, ‘Culinary Delights’, that, despite its popularity, had to shut its doors due to poor financial management. They’d overlooked the importance of a top-notch bookkeeping service, and it cost them their business. Let’s dive into this critical discussion.
An agreement to remove trade red tape and develop a temporary EU work visa scheme could alleviate labour shortages in UK coffee shops and cafés, industry groups UKHospitality and the Federation of SmallBusinesses say. Lansing, Michigan, US) Fri, 23 May – EU classifies four countries as high risk under deforestation law.
Sample Bookkeeping for Restaurants and Bars: In the hospitality industry without precise record-keeping, even the most successful establishments can find themselves adrift, struggling with cash flow, compliance, and ultimately, profitability. Bookkeeping is the often-unsung hero, forming the bedrock of smart financial management.
million 60kg bags and storage capacity to 1 million bags, streamlining logistics for small and medium-sized growers and reinforcing its role as a leading Brazilian coffee platform. Washington DC, US) Businesses for sale Mon, 30 Jun – Fore Coffee revenue surged ahead of IPO. The expanded unit increases annual processing capacity to 2.5
Hotels, restaurants, and sprawling F&B groups operate within a unique financial landscape, demanding far more than generic bookkeeping. As a global leader in hospitality industry accounting and advisory services, Paperchase empowers businesses across diverse markets to navigate their financial complexities with precision and foresight.
If your business is open for more than 10 hours a day, chances are you’re going to need to schedule some type of shift work. And how can you set up shift scheduling for your business? Instead of fixed daytime hours, team members may work evenings, nights, early mornings, weekends, and even holidays, depending on business needs.
It was too late to form an opinion about her; to do so would be like having a personal opinion about a law of thermodynamics. She had been a contributor to House Beautiful , managed a food boutique, and ran a successful catering business that often served well-heeled clients in New York and its suburbs. Abrams, Inc.,
This is where hospitality accounting services come into play, with their expertise in managing the complex financial landscape of hotels and restaurants. But what exactly does this entail, and how do these services simplify finances for businesses in the hospitality sector? Let’s explore this further.
Imagine a bustling restaurant, where the sizzle of the grill and the clink of glasses form a symphony of success. Amid managing suppliers, staff, and daily operations, does a restaurant owner really have the time or expertise to effectively handle the financial side of the business?
Is it not time we recognize the pivotal role outsourced accounting plays in the success of restaurant groups? Uncover the depth and breadth of the benefits that restaurant groups can enjoy from this often overlooked business strategy. However, these are merely the tip of the iceberg. Learn more about our Accounting Services !
It’s a complex arena, where revenue management, cost control, and financial reporting intermingle with unique business elements such as seasonality, customer service, and the unpredictability of guest behavior. Key Takeaways Finance is vital in the hospitality industry, with specialized accounting practices for hotels and restaurants.
In the fast-paced, ever-evolving culinary world of London, it’s as if restaurants are still using abacuses instead of calculators if they aren’t utilising professional bookkeeping services. There’s an undeniable significance in meticulous financial management, especially in the restaurant industry.
Bookkeeping Los Angeles: Isn’t it crucial for any business to ensure their finances are in order? It’s even more pertinent when operating in a dynamic city like Los Angeles, where local tax laws and financial regulations can be complex. But how does this directly impact your business and why should you care?
Since then, restaurant jobs have increased, the group said, 856 new restaurants have opened in Chicago and business license cancellations have been cut in half. But city lawmakers earlier this month voted to pause the phase-out while it considers a repeal of the law. In Washington, D.C.,
Many restaurant owners and workers are feeling helpless and at a loss for what to do next. Yelp's SmallBusiness Expert Emily Washcovick has years of experience helping smallbusinesses survive and thrive, particularly in times of crisis. and how they can best reach you.
How to Ensure Your Restaurant Survives and Thrives in the Era of Widespread Cybercrime and Strict Data Security Regulations. Numerous United States restaurant and fast food chains, including Applebee’s, Wendy’s, Chili’s, Huddle House, and Cheddar’s Scratch Kitchen have suffered cyberattacks in recent years and months.
Disclaimer: The information contained in this article is general in nature and businesses should consider whether the information is appropriate to their needs. With labor laws on age, wage, overtime, and time off–many of which vary between New York State and New York City–it’s easy to overlook a law or two.
Nair, a partner at Ervin Cohen & Jessup LLP compiles recent legal news affecting the restaurant, food and beverage and hospitality industries for Modern Restaurant Management (MRM) magazine. Under California law, app-based gig workers would have been considered employees. Election Results. Legislation.
Let’s start with an uncontroversial premise: California’s complex, ever-changing gauntlet of employment laws is difficult for any company to navigate. Yet you may still be wondering why, aside from the headache, does it matter for my restaurant? California employment law isn’t intuitive. Why Compliance Matters.
With dining restrictions lifting and restaurants’ busy season upon us, employers are ramping up hiring in order to meet the demand of the summer. Even with the recent uptick in employment, restaurants are facing a major worker shortage, and many are struggling to keep their doors fully open with limited staffing.
Some of the biggest restaurantbusinesses on the planet are franchises. They employ thousands of people and have served billions, and with so many people affected, it's understandable why there are franchise-specific laws and regulations in place. Who Regulates Franchise Compliance Laws? Federal Law Compliance.
Constant change — that has been the theme of the past several years, especially for restaurantbusinesses. When it comes to finding ways to stay afloat, many businesses have become exceptionally creative. 1. ” Strive to be the employer who notices and cares. Care and empathy. Rethink Scheduling. Add a tech solution.
Nearly 6 weeks after the American Rescue Plan was signed into law, the Restaurant Revitalization Fund is a reality. billion in grants for restaurants to use to cover everything from payroll to rent. Business tax returns (IRS Form 1120 or IRS 1120-S). This includes: Restaurants. The fund sets aside $28.6
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