Running a restaurant can be easily termed as a Herculean task, especially in a pandemic. With new restaurants struggling to break even and established ones working on negligible profits, it takes more than just a quality dine-in experience to survive these tough times. But even before the pandemic, a lot of restaurants faced challenges surviving […]
Category Archives: Restaurant Finances
Chart of Accounts for Restaurant (Free Download)
The restaurant industry is ever-growing. Each year we see numerous restaurants opening up and then some fizzling out. A lot of websites claim that the restaurant closure rates are as high as 90% but this myth was busted by popular research that showed only 17% of restaurant startups failed in their first year. But what […]
13 Ways To Apply Menu Engineering For Restaurant Profitability
Menu isn’t just a price list written in black and white. It’s in your hands to design your menu in a way that will encourage your guests to order your most profitable recipes. The process that’s responsible for designing, pricing, and positioning your menu items is called menu engineering. According to Gofrugal, “Menu engineering is […]
Taming the rhino with cost-cutting measures
Red Rhino is a very fine microbrewery, situated in Whitefield-Hostoke Road, Bangalore. The first thing that will strike you about this place is the location, if Whitefield is outskirts, this location is further apart. As you step inside, you see opulence and grandeur, a breathtaking view of surrounding greenery from the ample open space decks. […]
Restaurant Profit margins, the hard truths with inventory
The hard part of writing is writing. You have the topic and points in your mind, mull it over a few times, sleep on it a few more days, and yet hardly a word is written down. Well, blame it on indolence. And then one fine moment, your brain berates you for the laziness and […]