Outsourced CFO for NYC Bars: The High-Margin Playbook for Cocktail Lounges, Pubs, & Nightlife
On paper, bars and nightlife venues are supposed to be the most lucrative concepts in the hospitality industry. Beverage Cost of Goods Sold (COGS) for spirits typically hovers between 18% and 22%, offering margins that food-heavy restaurants can only dream of. Yet in New York City, dozens of high-volume cocktail lounges, neighborhood taverns, and speakeasies […]
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 […]