There are more reasons than one for why businesses don’t succeed. For a majority of failed restaurant businesses, they blame poor management and inventory practices as their demise. To ensure your business doesn’t suffer the same fate, check out these common bad inventory practices and what you can do to avoid them. Using Excel To … Continued
If you don’t have an inventory management system in place, the smallest oversights can quickly accumulate and start costing your business money. And one of the costliest mistakes you can make is to miscalculate your employees’ work hours. Sloppy records can lead to hefty losses that can even put your business out of service if … Continued
Inventory Management is what keeps your business afloat. Without it, you could risk losing sales and end up wasting money that could force your restaurant to close. Figuring out the correct amount of items to keep in stock, along with the proper flow of goods, the correct handling, and the best pricing options, is crucial … Continued
Without having a strategy in place to maximize profits, your business has little chance of success. It’s crucial to learn the techniques that attract customers to your business, along with employing the correct tactics to keep them coming back for more. If you’ve been looking for some fresh ideas for your business, check out our … Continued
One of the hardest things to master when you own a bar is setting drink prices. Finding the sweet spot where you can make profits and still drive sales is important. You definitely don’t want to be the bar that is too expensive and always empty or too cheap and losing money. So, how do … Continued
Purchasing includes much more than just buying the products that you need for your restaurant. It includes determining the product grade and quantities, choosing the right supplier, and negotiating a price, among other responsibilities. Making the right decision is crucial as it can really affect your profit margins. If you’re not sure if you’re making … Continued
In the restaurant business, proper food storage is crucial for any business to be successful. And the freshness of the products is solely determined by how well the storage of these are maintained and monitored. But often, a large amount of food never makes it from storage onto the plates. These storage losses cost … Continued
One of the biggest misconceptions that many restaurant owners have is that delicious food and a nice setting will be enough to allow their business to flourish. Although those two ingredients are crucial, if you don’t take control of expenses, or figure out what is cutting into your profits, you could end up bankrupt in … Continued
Food costs can make or break a restaurant business. If owners are not up-to-date on their inventory, supplier pricing, and waste management, they can experience significant cuts to their profit margins. If your business needs more help to manage expenses, here we outline five things you can start doing today to rein in your food … Continued
Operating a restaurant along the frontlines of exciting sporting action can appear to be a dream come true, but without careful planning it can go terribly wrong. Most restaurants throw money away without knowing it, and operating an establishment on a golf course isn’t immune to financial instability. Here are some ways you can avert … Continued