Restaurant accounting is a topic most restaurant owners dread. All restaurant owners want to do is operate the restaurant and find ways to earn profit. But what if we tell you that accounting for restaurants is an integral part in restaurant operations? Hiring an accountant for your food business accounting will help with the books. […]
Category Archives: Restaurant Finances
Everything You Need To Know About Restaurant Taxes
There are a lot of factors that go into taxing a restaurant. Income, location, restaurant size, number of employees are some of the criteria where the government will look to levy taxes on the restaurant. Depending on these variables, the restaurant can shell out thousands of dollars per year just to pay their restaurant taxes. […]
How to Value a Restaurant Business (and why it matters)
Determining the value of a restaurant is beneficial to multiple parties: the seller, the buyer, and the investor. The seller, usually the owner of the restaurant, is the party who will most likely do a restaurant business valuation. The main reasons behind this is because they want to know how much money they’ll be getting […]
11 Pricing Strategies for Restaurants To Increase Profits
The restaurant business is fairly straightforward – you make money from the food you sell. So unless you have priced your restaurant menu smartly, it is quite difficult to make a healthy profit. Most wannabe restaurateurs feel pricing a menu doesn’t need a deep understanding of costing and instead go with gut feel, approximation, and […]
How To Calculate Restaurant Prime Costs [Formula]
Learn how to calculate restaurant prime costs to increase the profitability of your restaurant. This pandemic has been the worst nightmare for the food & beverage industry. No matter what country you reside in, the lockdowns and the limited operating capacity has definitely put a dent on your sales. Restaurant owners are forced to adapt […]