Understanding variance: your money making tool

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 … Continued

Here’s a familiar scenario: the restaurant you go to piles 14 ounces of fries on your plate giving the impression of a huge meal and better value for your dollar. But in reality, most customers cannot eat this much, and some or most of the fries end up in the garbage. For the restaurant, this … Continued

Our President and Chief Visionary, Jeff Hands, has been featured in Modern Restaurant Management magazine. Read Jeff’s article on the importance of tracking and reporting all the ingredients and possible allergens on your menu — and how your restaurant inventory management software makes it easy and accurate: Allergens 101: Do You Really Know What Your … Continued

Are you using restaurant inventory management software for your food truck? If not, you might be making one of the biggest mistakes that could hinder the success of your business.  In many cases, food truck owners don’t keep records of their purchase orders or sales receipts because they don’t store inventory and often make the … Continued

Example of a restaurant report

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 … Continued

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 … Continued

So you’ve decided to ditch the pen and paper piles, or the DIY Excel spreadsheet, and upgrade your restaurant inventory management to the digital age. Congrats! This is a wise investment that could save your business thousands of dollars every year. Choosing from the myriad of software options out there today is your next big … Continued

After the rush of the holidays, but before the summer slam hits, you might find you have a slower season in your restaurant or bar. Many businesses in the hospitality industry experience a slow down in the first few months of the new year, as customers recuperate from holiday spending and retreat into their homes … Continued

Inventory turnover is a business and accounting term for measuring the number of times your inventory is sold or used up in a certain time period, like a month or year. In the restaurant industry, calculating your food and beverage inventory turnover ratio – or ITR – is an incredibly useful tool for decision making in … Continued

If the wind up to the New Year has you looking for new ways to streamline your restaurant business and boost profits, then inventory management is a great place to focus your resolutions. Effective restaurant inventory management can be as easy as a touch of a button with Optimum Control’s suite of restaurant inventory apps … Continued