It’s little wonder that running a restaurant is considered a stressful career. Managing frequent deadlines, numerous staff, and demanding customers all day long are challenging but necessary parts of working in the restaurant industry. But when you also consider that profit margins are very narrow in the restaurant business, you’ll begin to appreciate why carefully […]
QSR Magazine has published an article by our President and Chief Visionary, Jeff Hands, on how restaurant owners and managers can use variance to save more money on their bottom line. From understanding the basic formulas and concepts to using restaurant inventory management software, Jeff’s article tells you everything you need to know to make […]
In a nutshell, a successful business is all about the numbers. Are you making enough money to cover your costs, pay your staff, and pay yourself? Can you save on any costs to make a profit, or to reinvest in your business to remain competitive? Are you charging enough for each menu item? Can you […]
If you’re going to run a successful restaurant business, there are a few management tasks you simply cannot avoid: counting your inventory, tracking your sales, and restaurant menu costing. Menu costing is particularly essential to protecting your bottom line. In the restaurant industry, your sale prices are your only source of revenue – to stay […]
There are many ratios and numbers that are important when it comes to not only managing your inventory, but your entire operations. The inventory turnover ratio – or ITR – affects more than just your inventory, it also affects your food costing, menu pricing, ordering, purchasing and more. It’s important to understand that, like all best […]
The restaurant business tends to get a boost in the holiday season: with more people out shopping, they are often also looking for a place to relax and refuel. Large party bookings increase with festive celebrations, as does the demand for catering services. And while the holiday season can bring in new and more business, […]
Food and beverage inventory control is not just for restaurants and large chain operations: bars, lounges and nightclubs also need inventory solutions for effective cost and profit management. Bar inventory software is your all-in-one digital tool for powerful ordering, tracking and reporting systems, helping you streamline and maintain your establishment’s liquor and bar inventory. Optimum […]
In the service industry, we are trained from day one that “the customer is always right.” A successful bar or restaurant is wise to put this philosophy first, knowing that happy customers are returning customers, and the key to our bottom line. But in reality, there are many ways that we can put our profits […]
If recent consumer trends are any indication, it’s only going to be more and more common that customers at your restaurant will request substitutions to the menu items they order. Be it allergies, intolerances, diet restrictions or just individual preference, the list of possible substitution requests is nearly endless – while the opportunity to prepare […]
A single outbreak of a foodborne illness in your restaurant could cost you millions of dollars according to new research. Regardless of the size of your establishment, one foodborne outbreak can lead to millions of dollars in lost revenue, fines, lawsuits, legal fees, insurance premium increases, inspection costs and staff retraining. The findings, based on […]