Restaurant & Bar Success Tips

Food service is a tough industry, and in such a quick and competitive marketplace, maximizing a bar or restaurant’s efficiency and productivity is essential for survival. While a big part of business efficiency is about planning—budgeting, accounting, saving—much of your business productivity rests with your employees. More notorious than the restaurant industry’s business turnover rate is its employee turnover rate: restaurants’ low wages and difficult hours attract young workers who often leave to find better-paid work, take a job opportunity from a competing business, or continue their studies. Many of... Read More

Keeping clear and comprehensive accounts can determine the success of any business. Bars and restaurants have especially volatile incomes, as food and drink sales fluctuate so much throughout the day, week and year, so recording and analyzing daily sales and expenditures is particularly important. In order to maximize revenue and minimize waste, restaurant owners must be able to analyze business patterns to predict future needs. Without detailed daily sales tracking, and budget balancing, successful forecasting becomes an impossible task. Detailed daily reports—or Daily Business Reviews, as they are called—should track sales... Read More