8 Common Restaurant Mistakes Which Make Them Bound To Fail
Maybe you think you were born to be a restaurateur? And, maybe it is your number one love and passion, besides your family. But the restaurant business is often hectic and chaotic, and you might not have the time, or even the energy, to evaluate what you are doing right or what you are doing […]
Restaurant Technology is More than Just a New Trend
Trends are funny: some come and go but others like using digital restaurant technology are here to stay. Last year Toast, a restaurant POS company, put out a 2016 Restaurant Technology Report, which noted that 79% of restaurant diners who use restaurant technology apps and platforms say the apps improve their experience as a customer […]
How to Calculate & Control your Restaurant’s Prime Cost in 2024
Boosting Profitability Hinges on Calculating and Controlling Prime Costs For New York City restaurants, driving profitability goes beyond just increasing total sales. Savvy operators also zero in on minimizing expenses to truly impact bottom-line performance. The key focus area is prime cost – typically a restaurant’s two largest expense categories. Gaining visibility into prime cost […]
6 Tips to Improve Your NYC Restaurant Operations
When it comes to improving the operations of your New York restaurant, several things may come to mind, such as managing cash flow, daily sales reporting, staffing schedules, food safety, prime cost margins and more. Especially if you just recently opened a new restaurant, or even if you are a seasoned restaurateur researching new […]
9 RESTAURANT ACCOUNTING MISTAKES YOU COULD BE MAKING
9 Restaurant Accounting Mistakes Hospitality Owners Make Food lovers and fantastic cooks are not hard to come by; what is hard to come by are those ambitious entrepreneurs who capitalize on their passion for food and hospitality to open an eatery. Sadly, the bulk of these entrepreneurial efforts will fail…but not because their food isn’t […]
The Difference Between Restaurant Bookkeepers and Accountants
Restaurant Bookkeeping & Accounting – How They Compare There is a fine line between the perceived definition of accounting and bookkeeping. Most people outside of the industry would be hard pressed to describe the difference of each field. Yes, both bookkeepers and accountants have a common shared goal; often overlapping services to support your restaurant […]
How Successful Restaurants Handle Accounting & Reporting
What separates the winners from the losers in running and managing a financially successful restaurant? As pictured above (image credit Forbes) Danny Meyer of Shake Shack. Most successful restaurateurs have mastered or have set in place the right partners and people to concentrate on 3 key areas: Well developed business skills Effective […]
Managed Restaurant Bookkeeping Services Checklist
[vc_row][vc_column][vc_column_text] [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column css=”.vc_custom_1488316678500{background-color: #14699f !important;}”][vc_column_text] Are you ready to make the switch to work with the #1 managed restaurant bookkeeping solutions provider in the industry? [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Bookkeeping mistakes are the reason 46% of new restaurant businesses fail in the first 5 years. Cash flow problems wipe out another 82%. It’s a no-brainer… your accounting deserves your […]
Take care of local NYC regulations, keep your customers happy, your bottom line healthy
[vc_row][vc_column][vc_column_text]In NYC, we have a great selection of ethnic, casual dining, and fine dining restaurants; as well as diners, delis, street vendors, juice and smoothie bars, coffee shops, and bakeries. However, the recent five years of record growth for the real estate market have increased commercial property rents for NYC’s hospitality businesses. But it’s not […]