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Are You Managing BOTH Sides of Your Restaurant?

There are essentially two separate sides or sets of functions to manage in every restaurant. First, every restaurant has an " operational" side.

The operational side is basically what gets done every day and includes things like the menu and recipes; management of the kitchen and dining room; purchasing, storage and preparation; hiring, training and scheduling; and cleanliness, sanitation and food safety.

If you're an owner/operator or restaurant manager I'm sure you can identify with living and breathing these issues for too many hours a day than you'd care to be reminded of. It's not uncommon for the operational functions in a restaurant to occupy 110% of an owner's time, energy and resources to the exclusion of almost everything else.

But there's also another critically important set of functions in every restaurant sometimes referred to as "the numbers" or the " financial" side of the business.

The financial side includes things like accounting, reporting, cost control, budgeting, cash management and even maintaining good relations with people who can provide capital for growth like bankers and investors.

Granted, not the most stimulating topics to most restaurateurs but vitally important when it comes to creating a successful business. In many ways, managing the financial side requires a totally different set of skills, disciplines and knowledge from that of running the restaurant.

If there is one overwhelming truth that I have observed again and again in the past 20 plus years working with literally hundreds of restaurant operators it's this:

Those restaurant owners, operators & even managers who are truly experts at the operational side of their business, and also have a solid understanding and put a high priority on managing the financial side of their restaurants, consistently outperform the operators who don't.

How much time and effort are you investing in managing the " financial" side of your restaurant?

Featured Articles & Resources at RestaurantOwner.com.

TeleSeminar - What Every Restaurateur Should Know About Negotiating Leases

Signing a lease is serious business. A bad lease can become a noose around your neck for years to come. Learn how to negotiate the best terms possible from one of the top restaurant lease experts around.

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What Every Restaurateur Should Know About Negotiating Leases

What Every Restaurant Operator Should Know About Managing Cash Flow

For many restaurant owners one of the most perplexing and frustrating aspects of running their business is getting a handle on the ebbs and flows of their cash flow. All too often cash balances can be more than sufficient one week only to turn into a shortfall and potential overdraft situation the next.

Members click here to access:
What Every Restaurant Operator Should Know About Managing Cash Flow

ONINE SEMINAR: Restaurant Numbers - Understanding & Managing the Financial Side of Your Restaurant

Successful operators understand and know how to manage "the numbers" side of their business too. In Part 1 of our 5 part series you'll learn how to systematically and accurately assess the profit potential of any restaurant.

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Restaurant Numbers - Understanding & Managing the Financial Side of Your Restaurant

10 Tactics for Driving Food & Beverage Sales

The restaurant industry has been conditioned to believe that only traditional marketing efforts can be applied to grow sales because it's what everyone else is doing. Fact is, the restaurant industry is getting more competitive and will continue to do so. Here are 10 of the best ideas to get your own creative marketing wheels turning.

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10 Tactics for Driving Food & Beverage Sales

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