If you do not have strong controls in place you can easily run your business to ground. As it is, the restaurant business is not a high margin business. Once you pay for the labour, HLP, Food cost and rent; there will be nothing left in profit for many business. Therefore it is very essential …
5 steps to control guest check fraud in food and beverage Read More »
You will need to write a month end Pnl critique about the numbers you have achieved every month. A previous article was about how to Understand the Pnl Statement. If you are not clear about it, go ahead and read the article. This post is about explaining the Month end Pnl to all stakeholders. If …
As the delivery apps gain traction, people are getting accustomed to ordering at home. The convenience of ordering food from their choice of restaurant combined with the efficiency of multi tasking while eating is a great benefit to the modern consumer. Against this development, restaurants across the country has seen a 15 – 20% drop …
Every business needs a budget to estimate how the year will pan Every business needs a budget to estimate how the year will pan out financially. A budget serves many purposes including making sure the right resources are allocated properly. For the purpose of making a budget, you need to follow the simple process: Calculate …
I am sure you would have heard of the term Return of Investment. You put in money into the business and you want to earn money out of that. Hopefully more than you would get from a Fixed deposit in a bank. You have this expectation for a higher return because of the risk you …
If you purchased the hotel budget template from the site, here is an explanation on how to use the file. While the file is very simple to use, for a person making the budget for the first time, it may be confusing to understand the file completely. So in this post, I will breakdown the …
How to use the hotel budget template to easily make your hotel budget. Read More »