Downturn Proof Your Restaurant This Winter
Restaurants often face challenges during winter downturns due to factors such as colder weather, holiday season, and reduced outdoor dining options. This can be stressful and worrisome, but with a plan it does not have to be. We compiled a list of several strategies you can employ to overcome these challenges and maintain steady business […]
Cost and Profit Management in a Volatile Market
Hospitality Industry Accounting How to simplify accounting with a 28 days cycle. How to maintain and even approve accounting when underlying costs are unsteady, for example in the Hospitality Industry. The hospitality industry has bigger problems because the weekend is so important for restaurants. They may do little business on the weekends if they are […]
How Standard Costing Helps Increase Restaurant Profitability
Have you ever wished for a magic tool that forecasts costs and profit—and predicts the future? Since time travel doesn’t exist, there is no instant fix. But restaurants do have an incredibly powerful tool for looking ahead that’s underused: Standard Costing. You’re probably familiar with the importance of COGS (Cost of Goods Sold). Industry […]