True story about pricing your business. Often when I used to speak to people about the hotel, during an interview for a job or just as a matter of conversation, invariably the conversation jumps to how much ARR we should be able to get. As if ARR is the most important part of the puzzle. Yes while it is true that ARR includes real money going into the bank, I don’t think that it is the most important metrics that we need to watch.Read More »Pricing for your hotel business
Food cost is a critical component of the restaurant and very often the it is very important to manage food cost in your restaurant as it is the most expensive line item in the restaurant pnl. Food cost in simple words is the total cost of all food consumed in the restaurant. If your restaurant is struggling to make money, it will make sense to check this critical component of business.
So how do you manage food cost to improve profitability?Read More »How to manage food cost?
If you have decided to start your own restaurant, it makes sense to understand, how much will it cost and what all expenses will you have to face. In order to open a restaurant you need to think of the process in a few distinct parts and all the components should be part of the preopening budget.Read More »How to make a preopening budget for your restaurant?
Does the thought of restaurant business excite you? Have you always been complimented for the food you prepare for your friend at parties?
If yes and you are considering making a mark in the restaurant industry, one question that would have come to your mind is ” How much does this cost?”
While restaurants come in all shape and sizes and varying budgets, the key point when you are getting in with your hard earned money to launch your restaurant business is to minimise the initial capex budget.Read More »How to launch your restaurant business on a shoestring budget?