Ice cream is a beloved treat that people of all ages have enjoyed for generations (I personally indulge in it a few times a week during the summer). Many people dream of opening their ice cream shop, but they may wonder how much money they can expect to make. This depends on several factors, such […]
How to Start a Catering Business
Starting a catering business can be a great way to create your own business, be your own boss and make money. Catering provides a steady income stream and allows you to work with people from different walks of life. Have you started to consider starting your own catering business? While it certainly isn’t easy, it […]
Top 25 Fast Casual Restaurants in 2023
Fast-casual restaurants are a growing trend in the food service industry. The concept is similar to fast food but emphasizes quality ingredients and higher-quality preparation. Fast-casual restaurants are often seen as a better alternative to fast food, offering customers healthier options and more relaxed dining environments. However, certain fast-casual restaurants stand out from the rest […]
How to Open a Bar: Your Complete Checklist
Opening a new bar can be a life-changing experience. You can meet new people, make money and have fun simultaneously. However, it’s also a lot of hard work and requires foresight and planning. Whatever the reason might be, you should know that it’s not going to happen overnight. A lot of hours will go into […]
How to Write a Restaurant Business Plan in 2023
So you’ve decided to open a restaurant. Congratulations! But before you can open a successful restaurant, you need to write a restaurant business plan. According to CNBC, approximately 60% of restaurants fail within the first year of operation, and 80% fail within the first five years. Without a proper plan, your restaurant might be doomed […]
10 Types Of Restaurants: Complete Guide For Potential Owners
From fast food to fine dining, restaurants are everywhere and have become a staple of American life. But what makes a restaurant successful? The first step to opening a successful restaurant is picking the right type and concept. The restaurant industry is challenging, so make sure you understand all the different types of restaurants. When […]
How to Get a Liquor License
Owning a bar or restaurant is no easy feat. It takes hard work and dedication to build a successful business, but there’s one thing that many owners overlook when opening their establishments: procuring a liquor license. If you’re looking to sell alcohol in your establishment, you must get familiar with applying for one of these […]
How LLC Taxes Work
An LLC is a business structure that combines the tax and liability protection of a corporation with the flexibility and simplicity of a partnership or sole proprietorship. Unlike corporations, LLCs aren’t subject to double taxation. This means you only pay income tax on profits from your business and not on any capital gains made when […]
How Much Does a Food Truck Cost To Operate?
Starting a food truck business is a big decision. You’ll need to put in a lot of time and money before you can even begin serving customers. But don’t let that discourage you. Food trucks are a great way to start a business, especially if you have culinary training and experience. With the right resources […]
Can a Restaurant be an LLC: Everything You Need to Know
When you’re starting a new restaurant business, it’s essential to know what your options are. For example, some business owners operate as sole proprietorships, and others choose to incorporate. But what about LLCs? Can restaurants be LLCs? If you’re considering opening a restaurant, you might consider going the LLC route. You’ll want to read on […]
10 Best Restaurant Shoes for Front & Back of House
Are you looking for the perfect non-slip restaurant shoes for the front or back of house? You’re in the right place! In this The Restaurant CFO guide, I’ll answer common questions like: Why Invest in Quality Restaurant Shoes? Benefits of Restaurant Shoes My Top Restaurant Shoes Read Also: Best Restaurant Books Top 10 Best Restaurant […]
Rent a Restaurant Space: Everything to Know About Leasing a Restaurant
If you’re considering leasing restaurant space, it’s essential to know what to look for in a lease and how to negotiate a good deal. In today’s restaurant market, competition is fierce, and there are many more restaurants than there were 10 or 20 years ago. That means many people want the same type of space […]
Best Chef Restaurant Movies
The following list includes some of the best chef movies ever made. Many of them are based on real-life chefs and restaurants, adding another layer of interest for fans of cooking shows. They also offer insight into the lives of professional chefs as they deal with pressures in their kitchens and lives, such as demanding […]
How Much Do Restaurant Owners Make?
As a restaurant owner, your salary is tied to your restaurant’s profit. This profit depends on two primary factors: how much your restaurant sells, the revenue your business generates and how much your restaurant needs to operate, how much it costs to make that revenue. There are a number of factors that determine how much […]
How Much Does It Cost to Open a Restaurant?
All the dreams of starting a restaurant, such as a gorgeous interior, inviting ambiance, unique menu, and dream team, come with a heavy price tag. Having a rough estimate of your total costs and earning potential helps you balance your dreams with reality. This article will discuss different areas where you need to spend to […]
How Much Does a Coffee Shop Owner Make
Over 50% of Americans (over 18) drink coffee every single day. To give you a better perspective, that is roughly 150 Million people drinking coffee everyday. The average drinker consumes roughly 2.7 cups each day, which means almost 405 million cups of coffee are consumed each day! With this kind of demand, it is not […]
10 Best Heavy-Duty Stapler Reviews
Are you looking for the perfect heavy-duty stapler for your office? You’re in the right place! In this The Restaurant CFO guide, I’ll answer common questions like: What is a Heavy-Duty Stapler? Are Heavy-Duty Staplers Cheap or Expensive? What should you look for in a heavy-duty stapler? Top Heavy-Duty Staplers Sometimes you need a powerful […]
How to Add a Restaurant Business to Yelp
The world is shifting quickly from the old world to one fueled by the internet and digital communication. Don’t let your restaurant fall behind the times. Leverage your digital brand on Yelp to drive sales both onsite and delivery. With more people considering take-out and home delivery over dine-in, having a robust online presence for […]
Celebrity Owned Restaurants (And How Much Money They Make)
Restaurant and entertainment – both are incredibly challenging businesses, especially if you want lasting success within those industries. It’s easy to think that if you can succeed in the entertainment industry, the restaurant industry would be a piece of cake, all you have to do is invite your friend over, and you have the number […]
Coaching and Training Resources for Restaurants
Coaches are a great partner for your restaurant, both in good or bad times. They help you find your vision, develop new ideas with you, and help you build skills to implement your ideas. When you need a long-term solution, they are like the perfect doctor in helping prescribe a much-needed treatment for your restaurant. […]
Restaurant Tax Guide
As a restaurant owner, you need to look at tax from two angles. One where you need to pay state and federal taxes on businesses’ net income and any wages you pay yourself. The other perspective is where you need to charge your customers a sales tax and remit it to the local or state […]
6 Reasons For A Restaurant Operations Manual
In the restaurant business, it is not just the food that makes a wholesome and complete guest experience. Each element adds to the grandeur of the experience, such as welcoming the guest at the entrance, cleanliness, ambiance, food, service, payment method, and ease, all the small interactions that contribute to the entire experience. To take […]
A Restaurant Chart of Accounts that Any Bookkeeper or Accountant Can Use
Are you trying to find the perfect chart of accounts for your restaurant? Well, look no further! If you have ever been involved with a restaurant in any shape or form, you know that it’s not easy — from human relations to cash flow management, the restaurant business is tough. One of the few businesses […]
Ways to Motivate Servers and Increase Restaurant Sales
Open any restaurant management book or a business book – most of them talk about the same old ways to motivate the servers—Wall of fame, monetary incentives, and a few more. You already know how this dated list could look. Isn’t it time we come up with some new ways to motivate our wait staff […]
Restaurant Pre-Shift Meeting Ideas to Grow Profits
Ever wonder how pre-shift meetings can help you grow your restaurant profits? Well look no further, this article answers that pressing question. Pre-shift or pep-talks are industry agnostic. Flight crews, health practitioners, game teams – they all do it. If everyone is doing it, it must have some benefits, right? In this case, absolutely! Now […]
Prepare Your Restaurant for a Financial Recession
A recession is always right around the corner, so preparing for unsettling times before they occur is the key to weathering the recession storm. It seems that we are currently on the cusp of challenging economic times, with the socializing restrictions still in place, “everyone is a cook on Instagram” trend, and economic lines flatlining […]
Restaurant Payroll Journal Entry
The restaurant payroll journal is one of the most popular journal entries within the world of accounting. Want to know how to make a proper restaurant journal entry? Find out in this post! Payroll is complex as it includes wages from both hourly and salary employees, their tips, bonuses, and taxes. For restaurants, payroll is […]
Why You Should Hire a Bar Consultant
Play your cards right, and you can make your bar the cash cow of your dreams. It can be a sustainable source of revenue and a wholesome experience for your diners and guests. Do it wrong, and it can become a costly endeavor and leave you with no guests at all. If you have years […]
How Much Do Bakery Owners Make?
What’s not to love about a bakery – the smell of fresh coffee and sugar with traces of cinnamon, a display so enticing that makes you forget any health-related promises you made to yourself, choices of bread that take you back to the ancient art of baking. Everything I mentioned and more suggests it is […]
Creating Better Restaurant Comment Cards
Meeting your guests’ expectations will help you generate more customers or increase your customer revisit rate. Exceeding your guest experiences will help you grow. Both meeting and exceeding expectations are always on the agenda of any restaurant owner. Comment cards are one of the most cost-effective ways to gauge your guests’ experience and your team’s […]
9 Ways to Improve Restaurant Operations
In a restaurant, the journey from thought to finished dish is a deep maze of many complex systems. There is a chef, and his team who orders and prepares it, a waiter who brings it to you, a busser who cleans up, and these are just the major touchpoints. Dive further, and there is much […]
Restaurant Sales Components (Understanding Your POS Report)
In this article, I will walk you through each of the sales-related accounts that show up on your Point of sale report, what they are, and how to treat them. I recommend getting acquainted with my Chart of Accounts configuration in my post: A Restaurant Chart of Accounts that any Restaurant Bookkeeper or Accountant Can […]
Record Daily Restaurant Sales Using Journal Entries
Restaurants like any other business, succeed or fail based on what happens in the “back office.” I know from personal experience that a restaurant can have fantastic food, friendly staff, and an excellent location, but if the restaurant owners and operators don’t have good financial metrics or even understand these numbers, the restaurants run will […]
Restaurant Merchandise: Sell More Branded Products
Do you remember when KFC came out with fried chicken sunscreen? Or when Burger King came out with burger flavored toothpaste? And the best one so far, when Domino’s came out with adult onesies. No, this isn’t a fast-food chain specific, we often also buy swag from our favorite restaurants and bars too. Some of […]
Restaurant SWOT Analysis Example
We have all come across the concept of SWOT analysis, it is included in every business 101 guide. Technically, it is a simple strategy tool. SWOT stands for Strengths, Weakness, Opportunity, and Threats. Strengths and Weaknesses account for things you can control in your restaurant business. Opportunities and Threats are external factors that are usually […]
Restaurant Slang: 20 Terms You Need to Know
Have you ever wanted to know what the restaurant language everyone speaking means? You are in the right place as we cover 20 of the most popular restaurant slang terms. The culinary world, like any other industry, has developed its own slang over the years. Now, if you are a part of the restaurant business […]
Restaurant Daily Report to Track Profitability
A daily report is a powerful tool for running a successful restaurant business. Why do you ask? Successful and profitable days turn into successful and profitable weeks. In turn, these weeks turn into successful and profitable months and quarters. By focusing on owning a single day, we can compound this forward. By watching labor and […]
Rappers Who Own Restaurants
If you are into rap music, and ever wondered why Rick Ross is going on and on about Lemon Pepper Wings; Major real estate, them Wing Stops must be doin’ nice / Trappin’ lemon pepper, got me movin’ two a night Rick Ross or Kanye West about McDonalds; McDonald’s, damn, Them french fries look good […]
Restaurant Month End Close Accounting Checklist
Are you looking for a month-end close accounting checklist for your growing restaurant, bar, or café? You are in the right spot, as this post offers a free excel download of this checklist and an in-depth overview. What separates a successful restaurant business from a failing one? I get this question all the time, restaurant […]
Top 15 Restaurant Blogs Every Restaurant Owner Should Read
Ever wonder which restaurant blogs you should be reading to stay current with industry trends? We cover all that and more in this post. As a restaurant owner, that prides themselves on staying current with the latest business trends, you should be curious to know everything that encompasses the restaurant business and its related industries. […]
Largest Restaurant Chains in the World
Opening a single restaurant alone is no easy undertaking, establishing a chain is a whole different and much more complex story. As a restaurant owner or operator, the tale of restaurant chain success is an interesting one that should be read with gusto. The famous chains that we all know started out as a single […]
Active Restaurant Private Equity Firms
What are the most active restaurant private equity firms? Don’t worry we have found them! The restaurant industry in just the US is more than a $100 billion dollar industry. The driving forces behind this mammoth industry and its recent growth are uber-rich investors, restaurant private equity firms, several celebrities from all fields imaginable (for […]
How to Hire a Restaurant Consultant
Restaurant consultants can not only help you take your business to the next level but teach you valuable skills to continue to take your business to new heights. Contrary to what many restaurant business owners still think, consultants are not always using cookie-cutter solutions to your problems and giving you fixes you do not know […]
Restaurant Purchases Versus Cost of Goods Sold
Most restaurant owners and operators don’t know the difference between purchases and cost of goods sold for their restaurant. Isn’t it time you understood and got a leg up on your competition? Keep reading as this post covers exactly that! All tables are full, reviews are good, everyone is leaving those restaurant doors with a […]
What Salary Should You Pay a Restaurant General Manager?
Your restaurant general manager is the leader that holds your restaurant together. What are they worth to your restaurant? Don’t worry, we cover all that and more in this post! If anything goes wrong, they are there to put out the fire (sometimes literally). Any happy restaurant customer wants to thank the chef, but any […]
What Does 86 ‘Eighty-Sixed’ Mean in Restaurant Jargon?
A fascinating thing about the culinary world is its slang. Ever wondered what ‘Eighty-Sixed’ means in the restaurant world? You are about to find out! Owing to the boundaryless nature of the hospitality industry, the slang knows no particular root language either. Stand in the middle of a busy restaurant, and you will hear the […]
Restaurant and Bar Financing For Dummies
Thinking about getting financing for your restaurant? Look no further! We cover all the major financing options for your restaurant or bar in this post. Raising funds for any business is an uphill battle, particularly in a crowded field like the restaurant space. Now, take a look at some characteristics of the restaurant businesses – […]
Choosing the Best Accounting Software for Your Restaurant
Wondering what the best accounting software is for your restaurant? You are in the right place! You have now decided to move beyond do-it-yourself (DIY) spreadsheets for your The Restaurant CFO, but with so many options it is always daunting to choose the right accounting software for your business. Our team here decided to spend […]
Rich and Famous Restaurateurs You Should Know About
A very inspiring characteristic of the restaurant industry is that in one way or the other you have to be self-made. Whether you inherit a whole restaurant empire or start your business from within the dish pit washing dishes, there are no shortcuts in the restaurant business. You need to slog those endless hours in […]
Break-Even Analysis: Calculating the Break-Even Point for a Restaurant
Wondering how to calculate the break-even point for your restaurant? Look no further! That moment when everything comes together for the restaurant. The hum of a full-house on a Tuesday, guests laughing over a bottle of wine, the ambiance is warm and the P&L shows a profit. Yes an odd combination of things that satisfy […]
