Restaurant Financials

how to increase restaurant sales

The goal of any restaurant business is to achieve long-term growth. Realizing that growth is no easy task. It requires innovation, dedication, and the ability to capitalize on trends.

Read moreHow to Increase Restaurant Sales: Strategies for Growth

franchising advantage and disadvantages

When you open up your business, will you open as an independent company or a franchise? Buying a franchise restaurant is a great idea for some, but non-franchise restaurants, or independent options, provides its own benefits.

Read moreIndependent Ownership vs Franchise Restaurant

restaurant income statements

Financial red alerts can quickly lead to closure and bankruptcy. The restaurant industry is one where even the slightest red alert going unresolved can lead to disaster. Restaurant profit margins are often very tight, so it can be difficult to overcome some of the financial issues if they persist too long.

Read moreFinancial Mistakes Your Restaurant Should Avoid

Restaurant food waste can quickly lead to inflated food costs. If a chef has made a special stew on Tuesday and there is a lot of leftovers, discarding this food, while it’s still good, will lead to restaurant waste.

You're throwing money away if you’re not trying to get profit from it.

Read moreRestaurant Food Waste Management Tips: Turn Your Leftovers Into Profit

Average bar revenue varies from one establishment to the next, but there's one thing that can boost average bar profit margins - proper management. Bar sales offer a higher profit margin than food sales at restaurants, and there’s little overhead involved in the operation.

If you want to know how to make a bar successful, there are a few ways to increase profit.

Read moreIncreasing Bar Revenue in 6 Easy Steps

The catering industry is worth $52.3 billion, and 64% of that goes to a restaurant catering. People are now spending more money on restaurants than groceries, so that figure will only increase in the coming years.

If you haven’t done so already, now is the time to add catering to your restaurant’s list of services.

Read moreHow to Enter the Catering Industry if You Have a Restaurant

Some restaurant owners don’t know how to control the cost of food properly. They put prices on entrees and appetizers, don’t track profit margins correctly and have no clue about the whole food cost control thing.

But wholesale prices are rising. Tariffs are also hitting some foods, especially avocados, very hard. If you don’t have controlled spoilage measures in place, it’s time to start implementing some.

Read moreFood Costs In Restaurants: Control Methods That Work Every Time

It may not be the most exciting part of the restaurant planning process, but it’s a vital one: insurance. Every restaurant needs insurance, and this is one area you do not want to skimp on.

Restaurant insurance will protect your business from a wide range of issues, including broken equipment and liability lawsuits. But what type of insurance will you need? How much will it cost? How can you compare insurance companies?

Read moreHow to Choose the Restaurant Insurance Coverage

Restaurants may be in every city, but unless you’ve been in the business, you probably overestimate how profitable a restaurant could be. Sure, a restaurant may be packed, but that doesn’t mean that they’re making money.

In fact, there are a lot of myths about owning a restaurant, average restaurant profit and the percentage of restaurants that fail. Which of them can easily be debunked?

Read moreRestaurant Profitability: 10 Myths Debunked

How to control food cost

Cutting costs is essential for every business, and while costs can be cut in the form of workers, it can also be cut in material costs. Restaurant food costs can be cut, and in some cases, you may be able to save 10% or more on your food costs.

There are many ways to cut costs, too.

Read moreHow to Cut Your Restaurant’s Food Cost by 10%

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