Guest Post: Should Restaurants Offer Mobile Payments?

Guest Blog Post By Kristen Gramigna of BluePay Some consider mobile payments the wave of the future in many industries, and as a restaurant owner or manager, you may have taken notice. Mobile [...]

Profitably is Priority #1 for Your Restaurant

As a restaurant owner, your top priority for your restaurant is to be profitable. These are my unyielding words of advice for every independent restaurant owner who forgets all the people [...]

Restaurant Budgets for Real

Why is a Budget So Important for your Restaurant Operations? Does the mere thought of writing a budget make your head spin and your heart beat with anxiety? Do you sit down to work on a budget [...]

Top 3 three tips for managing employees

By David Scott Peters Are you having trouble with labor costs and retention? Here are my top tips for managing employees: 1. How to hire your ideal employee. 2. How to retain good employees. 3. [...]

Accrual Accounting for Restaurants

So, what is accrual accounting for restaurants? I advise all of my members – independent restaurant owners like you – to set up their businesses on an accrual accounting basis. [...]

Restaurant Cash Flow

By David Scott Peters Restaurant Tip of the Week Project your cash flow As the old adage goes, cash is king. You must find a balance between cash availability and cash needed. Projecting your [...]

How to Hit a Home Run in Restaurant Labor Controls

Restaurant labor controls are your sure-fire way around the bases FAST To make money in the restaurant business, you have to hit a home run with your restaurant labor controls. Yes, the small [...]

In Restaurants Cash is King

By David Scott Peters Restaurant Tip of the Week Plan Your Cash Use Cash has become a scarce commodity for many restaurant operators. Paying bills becomes a juggling act; taking the money coming [...]

Why is a Restaurant Budget So Important?

By David Scott Peters Erase Your Fear of Budgets Forever Does the mere thought of writing a budget make your head spin and your heart beat with anxiety? Do you sit down to start only to find [...]

Tools for restaurant financial analysis – Part IV

By David Scott Peters Restaurant Tip of the Week Payback period The payback period is the number of years it takes to recover the initial investment and is calculated by counting the number of [...]

Tools for restaurant financial analysis – Part III

By David Scott Peters Restaurant Tip of the Week Return on sales (ROS). The ROS ratio indicates both the profitability and the risk level of the restaurant. The calculation is completed by [...]

Tools for financial analysis – Part II

By David Scott Peters Restaurant Tip of the Week Return on equity (ROE) This ROE ratio is used to determine if an owner’s investment into the business is attractive or not. The calculation is [...]

Know Your Restaurant’s Numbers

By David Scott Peters Restaurant Tip of the Week Ignorance is not bliss When it comes to your restaurant’s money, learn to read the key financial documents, such as your balance sheet. One side [...]

Demystifying Restaurant Financial Statements – Part 3

By David Scott Peters Restaurant Tip of the Week There are three basic tools/reports you need to understand when it comes to demystifying financial statements. They are the balance sheet, the [...]

Demystifying Restaurant Financial Statements – Part 2

By David Scott Peters Restaurant Tip of the Week There are three basic tools/reports you need to understand when it comes to demystifying financial statements. They are the balance sheet, the [...]

Demystifying Restaurant Financial Statements – Part 1

By David Scott Peters Restaurant Tip of the Week There are three basic tools/reports you need to understand when it comes to demystifying financial statements. They are the balance sheet, the [...]

Restaurant Accounting Tip

By David Scott Peters Restaurant Tip of the Week Know Your Restaurant Accounting Understanding your accounting is a building block of your success. Why? Because the financial statements are the [...]