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The Top 10 Myths of Restaurant Profitability by Jim Laube Conventional wisdom in the restaurant business is
often anything but wise or good for your bottom line. Here are 10 so-called undeniable restaurant truths that could be costing you big money. . . . more >>
10 Common Restaurant Startup Mistakes (and how to avoid them) In any new business venture good decision-making is vital. Opening a new restaurant requires so many decisions that it's not hard to make some bloopers along the way. The key is not totally missing the mark on the really important issues that can make or break your chances for success. Here are 10 of the most common & potentially fatal missteps new owners make and what you can do to avoid making them. . . . more >>
ONLINE SEMINAR: Key Industry Averages-How Does Your Restaurant Stack Up? How does your restaurant's financial performance stack up to the industry? Get industry averages and rules of thumb to evaluate your sales, food cost, beverage costs, mangement and hourly labor cost, employee benefits, operating expenses, rent and occupancy costs, inventory levels and much more. . . . more >>
2012 Restaurant POS Survey Selecting a POS system is one of the most critical decisions any restaurant operator makes. You can compare the ratings and gain an edge in picking your next POS by learning from the candid comments and first-hand experiences of more than 1500 RO.com members on nearly 100 of the top restaurant POS systems. . . . more >>
DOWNLOAD: Restaurant P&L Templates A profit and loss statement represents the end result of all of your efforts from marketing to operations to cost control. These sample summary and detailed P&L templates will give you ideas and a starting point for designing your own P&L. . . . more >>
WEBCAST: Best Management Practices of Multi-Unit Restaurants In this webcast, Joe Erickson and Jim Laube show how multiunit restaurant operators are using their web-based tool - the Prime Cost Wizard - to improve their store communications, reduce food, beverage and labor cost, eliminate duplicate data entry and spreadsheet dependency, tighten up cash accountability and spot theft warning signs, and establish the seamless transfer of sales and purchase data to the home office accounting system. . . . more >>
Restaurant Catering: How to Create a Lucrative, New Profit Center for Your Business by Amelia Levin After a hard-hitting recession prompted many restaurants to re-examine their cash flow and profit margins, finding ways to increase revenue without a large capital outlay makes adding catering to your restaurant seem like a good idea. This article will explore some of the catering challenges as well as opportunities. . . . more >>
Restaurant Management Agreements: The Advantages and Pitfalls by David T. Denney Management agreements can be effective tools in streamlining restaurant operations. They can cover everything, including clearly stated, detailed responsibilities for employee matters. They can also create pitfalls for the unwitting. Here's how to harness their upside and sidestep their downside. . . . more >>
Why Prime Cost Is the Most Important Number (That Should Be) on Your P&L by Jim Laube Prime cost (food, beverage & labor) consumes in excess of 60% of sales in most restaurants. They are your largest and most volatile costs. Without good Prime Cost controls even high volume restaurants can have profitability problems. Learn what your Prime Cost should run and how to keep excess Prime Cost from choking your profit. . . . more >>
Online Workshop: The Durbin Amendment Has Lowered Debit Card Fees - Who's Getting YOUR Savings, You or Your Processor? As a result of the Durbin Amendment, debit card interchange fees have been reduced by about half starting on October 1st. BUT don't expect those savings to be automatically reflect in your fees. Some processors are expected to keep the savings and not pass them on to merchants like you. Listen to this program to get these cost reductions passed on to YOU and NOT YOUR PROCESSOR! . . . more >>
ONLINE WORKSHOP: How to Account for Discounts & Comps The practice of discounting and couponing has grown substantially in many restaurants in recent years to the point that in some restaurants, discount transactions run as high as 10% of gross sales and even more. Learn how accounting for discounts can affect your numbers and the interpretation of your key costs and margins so you can make an informed decision about what method would work best in your restaurant. . . . more >>
DOWNLOAD: Multi-Unit Inspection Checklist This template is a great tool for evaluating each of your restaurants for cleanliness, safety, R&M and operational excellence. This Microsoft Excel workbook can be used for both table service and QSR type restaurants, and easily be tailored to fit your unique operation. . . . more >>
WEBCAST: Menu and Recipe Costing Basics View the recording of our 60 minute webcast workshop, using resources available in our Download Library. Presenters Jim Laube and Joe Erickson detail the step-by-step process for accurately calculating and maintaining up-to-date menu and recipe costs . . . more >>
SPECIAL REPORT: The 10 Common Practices of Highly Successful Independent Restaurants by Jim Laube One of the smartest ways to succeed in anything is to find out what the best are doing & then do it yourself. This Special Report examines 10 of the most common practices that many highly profitable restaurants engage in to produce exceptional results year after year. . . . more >>
DOWNLOAD: Purchase Existing Restaurant Checklist Buying an established restaurant requires careful evaluation & consideration of a variety of facts and areas. This 99 point checklist will help guide you through the valuation, inspection, and change of ownership, when considering the purchase of an exisiting restaurant. . . . more >>
DOWNLOAD: Pizza Restaurant Business Plan Financial Model This series of Excel worksheets specifically designed for pizza delivery & take-out restaurants will give you a complete and detailed tool to quickly consider the essential elements that impact the financial feasibility of a proposed restaurant and present it in your business plan in a straightforward, understandable and impactful format. . . . more >>
How to Manage Your Restaurant's Critical Numbers and Avoid Financial Loose Ends by Chris Tripoli and Jim Laube Too many owner/operators are not tracking sales accurately, not posting costs by category correctly, and/or vewing a cash balance at the end of the month as profit. In this article, we discuss how to setup and interpret your financial reports to help you identify how your restaurant is really performing. . . . more >>
DOWNLOAD: Daily Voids Log Sheet Theft prevention 101 - never let your bartenders, servers or cashiers void items after they have been rung up. It's ok to give them the ability to void (item correct) an item "while" they are in the process of ringing the check; however, once the check has been recorded (saved or printed) then only management should be allowed to perform a void function. . . . more >>
DOWNLOAD: Restaurant Business Plan Financial Models To the majority of potential lenders and investors, the financial section will be the most important part of your business plan. Even if the other sections of your plan are impeccable, the financials will still make or break your presentation. Use this series of Excel worksheets to prepare a comprehensive, professional and convincing financial section for your business plan. . . . more >>
DOWNLOAD: Restaurant Startup & Feasibility Model (Tableservice version) Whether you're planning to open your first restaurant
or add another location, analyzing the financial feasibility of
the project is essential. These series of linked spreadsheets have been refined over several years on a wide variety and number of actual restaurant ventures and formal restaurant business plans. . . . more >>
Your Landlord Doesn't Want to Re-Lease Your Space: How to Renegotiate Your Lease by Larry Green, Esq. Well, things aren't looking good. Staff is at a minimum, inventory is threadbare, and marketing has gone down the drain. Revenue plots illustrate an ominous downhill turn for the worse. What do you do now? Relief must come from reduced expenditures, but there is little else you can cut without compromising your business. It might be time to renegotiate your lease with your landlord, and remember, your landlord is your business partner, not your adversary . . . more >>
DOWNLOAD: Confidentiality Agreement Confidentiality Agreements with employees are a must for every business, especially restaurants. Recipes, operating systems, policies and procedures are just some of the valuable information that deserves to be protected. Having a confidentiality agreement in place, is your first step to . . . . . more >>
WEBCAST: Selling Your Restaurant - What You Need to Know to Attract Serious Buyers & Get Top Price Selling your restaurant may one day provide you with the chance to have the biggest payday of your life. You need to know what to expect and how to position your restaurant as a desirable business opportunity long before you decide to put it on the market. Learn what the restaurant selling process is all about from one of the top pros in the industry. . . . more >>
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 . . . more >>
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