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The Ultimate Guide to Budgeting for Labor Expenses

The Ultimate Guide to Budgeting Labor Expenses Through Bookkeeping While labor is an important aspect of any restaurant (we can’t have food without our cooks), it’s also the cause for large expenses to your small business. Manage your labor budget with a few simple tricks. Cross Train Your Employees One major way of cutting back labor costs is to cross train your employees. Cross-training is teaching your employees to do more than one job. This could mean that instead of being just a server, an employee could jump in and work as a hostess as well. Keep in mind that cross-training…

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Why Controlling Labor Costs Is Critical for Success

Controlling Labor Costs Is Critical for Success Why Your Restaurant Needs to Control Labor Costs There’s no such thing as a one-size-fits-all formula for restaurant success.  What works for the taco truck slinging two-dollar tacos doesn’t necessarily fly in a 20-seat, Michelin-starred fine-dining restaurant. “However, what all restaurants do have in common is that at some point, they will have to pay people, and that means incurring labor costs.” In all but the smallest concepts, you’re going to need a team. Depending on your establishment, these could be waiters, cooks, dishwashers, bussers, baristas, bartenders, managers; and if you’re big enough, administrative…

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Restaurant Benchmarking: Where Your Business Stacks Up

KPI’s and Benchmarks: How Can KPI’s Help Your Restaurant Live Up To Its Potential? Your business seems to be thriving. The doors are open, guests are enjoying your food and drinks, and you’ve got a great ambiance. Servers are bustling about, carrying trays and taking orders. Your cooks are leaning over stoves, stirring, plating, and sending out the perfectly arranged dishes your restaurant has quickly become known for… But are you meeting your goals? Do you have measurable benchmarks for success or ways to define whether or not your restaurant is profitable and efficient? Are your stakeholders happy with your restaurant’s…

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Bookkeeping 101: How SRM Helps Your Budget

The Key to Managing Supplier Relationships to Cut Waste and Boost Your Bookkeeping Strategy Supply chain management is a huge way of saving money for your business. What you might not realize, is that improving your supplier relationships, inventory management systems, and inventory management techniques can seriously reduce your budget waste. As a business owner, there are a few simple steps you can take to implement solid SRM strategies and practice good inventory management. Selecting a Supplier for Outstanding Bookkeeping So, you’ve successfully established your company/brand, hired and managed multiple employees, and started making sales. Great job! Unfortunately, these aren’t the…

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Why You Need an Annual Budget NOW

What Makes an Annual Budget Critical for The Success of Your Business It’s already 2019…Have you prepared your annual budget? If not, perhaps it is time you considered why having one could help your business. And, more importantly, why not having one could put you at risk for unexpected dips in profitability. There are many reports business owners use each day to run their business, however, the annual budget is one that is often overlooked. Preparing a company budget each year is an effective tool that helps with decision making and evaluating the success of your business. Revenue Tracking Annual budgets…

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Five Ways Cloud Bookkeeping Cuts Waste from Your Restaurant Budget

Five Simple Ways to Save on Your Restaurant’s Monthly Budget Let’s face it, it’s easy to rack up bills and expenses. Each month little expenses add up to one big tab. The question is, how can you eliminate costs and reduce expenses? Here are five simple ways to cut back on your restaurant budget and prevent waste. 1. Cut Down on Food Waste Food waste is one of the leading reasons for skyrocketing restaurant expenses. Don’t let your business fall into a pattern of food waste. There are a few simple tricks for cutting down on food waste in day to…

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Should You Change Your Bookkeeping Strategy?

Are you getting the most out of your business budget? Your bookkeeping strategy says a lot about your business. One thing it can say is that you aren’t getting the most out of your budget. Find the right bookkeeping software so you can get down to business and get your business budget back in chek. Sitting down to create a business budget and set up a budgeting spreadsheet might seem like a chore, but it can help you in more ways than you might think. Reach Your Targets By implementing a proper business budget, you will quickly find that you are…

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