Operating A Profitable Restaurant

Every restaurant operator has a multitude of responsibilities. From profit optimization to menu engineering, there’s never a shortage of factors to contend with.   Thanks to recent spikes in inflation and rising costs, food cost percentage is suddenly back as a hot topic — and for good reason. By even the most conservative estimates, food costs have spiked around 20% for some restaurants – even more in big cities, resort towns, and other high-demand establishments.  If your restaurant is struggling with keeping operations afloat while keeping pace with ever-increasing menu ingredients expenses, understanding how to calculate food costs is critical. In this podcast, we will take a look at the importance of food cost percentage, different variables that impact your overall cost structure, how to calculate food costs, and more. Read the full Blog Post: https://rasiusa.com/blog/how-to-calculate-food-cost/ Watch the Quick Snippet Video: https://www.youtube.com/watch?v=9o1lcPhPUMc Social Handl

If you manage a restaurant, you already know how important shift scheduling is. But are your shift schedules working in the best interest of your staff and entire restaurant? Given the unique demands of scheduling shifts – after all, less than half of U.S. restaurant workers are full-time employees – it helps to understand how this underrated aspect of managing your restaurant can make or break your operation. RASI’s complete restaurant accounting services help support your shift scheduling tasks, thanks to an innovative data analytics platform that provides timely information so you can make the best possible shift schedules. Read the full Blog Post: https://rasiusa.com/blog/shift-schedules-a-complete-guide/ Watch the Quick Snippet Video: https://www.youtube.com/watch?v=wquYDBibesY Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.c

The recipe for a great restaurant manager starts with this foundation: managing restaurant staff. Whether you're thinking about accepting a promotion to a management position, or if you're already a manager and would like to learn innovative ways on how to manage restaurant staff, the following restaurant management tips can help anyone lead, inspire, and ensure the entire operation runs efficiently. While some restaurant employee management skills come with experience, others are a bit more nuanced. Take restaurant staff management support, for instance. Even the best managers can't do it alone; they require an intuitive, forward-thinking structure around them, especially with issues related to accounting, compliance, and the rest. Read the full Blog Post: https://rasiusa.com/blog/how-to-manage-restaurant-staff/ Watch the Quick Snippet Video: https://youtu.be/_jIWZ1XblSU Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_RASI Facebook: htt

Every well run organization starts at the top. Sometimes, managers are brought in from another restaurant. And more often than you think, regular employees are promoted to manager. But which restaurant management skills separate the good leaders from the great ones? What’s more important – organization or people skills? And what tools or resources can help enhance the most important restaurant manager skills? Read the full Blog Post: https://rasiusa.com/blog/5-important-restaurant-management-skills/ Watch the Quick Snippet Video: https://www.youtube.com/watch?v=bi8R5Dcr8XI Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi

The SBA is set to award an added $180 million in unspent funds allocated for the Restaurant Revitalization Fund (RRF) back in 2021. This is not an infusion of funds into the RRF currently; in fact, a new law was introduced and passed by the House of Representatives to replenish the RRF with more than $40 billion, but it did not pass the Senate (See June 2022 update below). It is not clear how, when, or to whom these RRF grants will be issued, so do not throw away any correspondence from the SBA because you may be one of the lucky stores to receive an extremely late RRF grant! As we learn more from the SBA about the Restaurant Revitalization Fund (RRF) and any updates surrounding it, we will continue to make updates on the blog post and right here on The Tip Share! Read the full Blog Post: https://rasiusa.com/blog/restaurant-revitalization-fund-updates/ Watch the Quick Snippet Video: https://youtu.be/cGppdFKGsuI Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https

Getting a restaurant up and running is a challenge. Keeping a single establishment or franchise profitable over months and years is even more so. What separates the restaurants that quickly fail from those that have been established for an extended period? You could argue – and we’d certainly agree – that taking advantage of a restaurant accounting software and service is the most significant single factor determining long-term success. As the leader in automated, expert accounting for the restaurant industry, RASI has put together an ultimate guide on restaurant accounting as an educational resource for you: Understanding the different types of accounting for restaurants Key factors to consider in restaurant accounting Determining efficient methods for cost analysis, accounting cycles, and more Grasping the importance of payroll for accounting in the restaurant industry And much more Read the full Blog Post: https://rasiusa.com/blog/restaurant-accounting-complete-guide Watch the Quick Snippet V

Do you know everything about your restaurant assets? Not just what they are, but how your restaurant's assets interact with other critical elements of that indispensable, indisputably important financial report, the balance sheet? Throughout this episode, we’ll dive into our all-in-one resource on restaurant assets – we'll cover: How assets of a restaurant are defined Difference between restaurant long-term vs. short-term assets How assets-in-place impact assets of a restaurant Key components of your balance sheet (liability, equity, and assets) Read the full Blog Post: https://rasiusa.com/blog/restaurant-assets-everything-you-need-to-know Watch the Quick Snippet Video: https://youtu.be/SFvLnvfNAzQ Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi

Many operators don’t fully understand how to read a restaurant's Profit and Loss Statement (P&L). In fact, many don’t even have a basic understanding of where the data is coming from. Furthermore, how to interpret the data into actionable insights.   It’s critical for the financial health of all restaurants that those who are making scheduling decisions, buying decisions, etc. fully comprehend how to read an income statement. It’s even more important that they can utilize the knowledge behind what goes into the P&L. Read the full Blog Post: https://rasiusa.com/blog/easy-tips-how-to-read-a-restaurant-profit-and-loss-statement-pl/ Watch the Quick Snippet Video: https://youtu.be/25cQdFDASPs Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi

Restaurant Cost Of Goods (or to some, Cost Of Sales) take up a significant amount of a restaurant’s overall expense. Unfortunately, many owners/operators fail to see how COGS for restaurants can significantly negatively impact profitability and cash flow if mismanaged or handled inconsistently. Point-blank: It’s critical to the health and survival of all restaurants that you understand your COGS and how to manage them accurately – here’s how. Read the full Blog Post: https://rasiusa.com/blog/how-to-control-cost-of-goods-cogs-in-your-restaurant/ Watch the Quick Snippet Video: https://youtu.be/ZrF8SxpGgVk Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi

Learn about the details of restaurant manufacturer rebates and how they can positively affect your restaurant's bottom line! Read the full Blog Post: https://rasiusa.com/blog/what-are-restaurant-manufacturer-rebates Watch the Quick Snippet Video: https://youtu.be/TWNwezzEUBU Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi

Successfully closing out a period starts the domino effect for proactively operating a restaurant versus missed opportunities in the following periods. The Period End Financial Close purpose is accuracy verification to highlight where your money is going. This enables you to make quicker, more educated business decisions.   To close out a period, begin with a review of the financial statements; The Profit & Loss Statement, The Balance Sheet, and Cash Flow Statement. Within each statement, defined areas of focus should pop out to an operator as a must-watch for success. Throughout this webinar, we will review a few key items to concentrate on when conducting a Period End Financial Close: Capital Expenditures & Preopening Expenses. As a bonus, we’ll run through some additional restaurant accounting tips to assist with better financial practices for your business. Read the full Blog Post: https://rasiusa.com/blog/restaurant-accounting-tips-capital-expenditures-and-preopening-expenses/ Watch the

Your restaurant may have a great menu, loyal customers, and an unbeatable location, but without effective restaurant budgeting, none of those factors matter. A strategic and accurate restaurant budget plan is your establishment's roadmap to success; In other words, it's the most trustworthy guide to your profit.    Too often, managers and entrepreneurs don't know how to budget for a restaurant in the restaurant industry. However, without this critical financial information upon which to act, it's impossible to know whether you're heading for a profit, break-even scenario, or a loss. Tune in for insight on restaurant budgeting basics, how to budget for a restaurant, devising a reliable restaurant budget plan, and as a bonus, budgeting in terms of restaurant incentive planning for your team! Read the full Blog Post: https://rasiusa.com/blog/the-basics-of-restaurant-budgeting Watch the Quick Snippet Video: https://www.youtube.com/watch?v=iMcYAw6TVDU Social Handles: RASI Instagram: https://www.instagra

Colorado Retailer Retention of Sales Tax, bill HB22-1406, applies to Colorado sales taxes collected in July, August, and September of 2022. This bill allows a temporary deduction from state net taxable sales for restaurants, bars, and other eating places (food trucks), or catering services in the state. The temporary deduction from state taxable sales for qualifying retailers is equal to the lesser of state net taxable sales or $70,000 each month. Here's what you should know. Read the full Blog Post: https://rasiusa.com/blog/colorado-retailer-retention-of-sales-tax-and-your-restaurant Watch the Quick Snippet Video: https://youtu.be/JA8tanVnJVk Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi

The Healthy Workplaces Act of 2021 takes effect on July 1, 2022. This law requires all private employers in New Mexico to allow employees to accrue and use earned sick leave. Employees may use this leave for several reasons listed in the Act; for example, taking care of a qualifying family member or recovering from an illness themselves. Check out this episode to learn everything you should know about the new legislation. Read the full Blog Post: https://rasiusa.com/blog/how-does-the-new-mexico-healthy-workplaces-act-of-2021-affect-your-restaurant Watch the Quick Snippet Video: https://youtu.be/QPVJAq5mULM Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi

Effective July 1, 2022, the state of Colorado will impose a retail delivery fee on all deliveries by motor vehicle to a location in Colorado, even if the delivery originates in a different state. Here's what you should know. Read the full Blog Post: https://rasiusa.com/blog/everything-you-need-to-know-about-the-colorado-retail-delivery-fee  Watch the Quick Snippet Video: https://youtu.be/JA8tanVnJVk Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi

A franchise is all about authorization. For entrepreneurs and small business owners, owning a franchise offers them the ability and support to carry out the larger corporation’s core company offerings and commercial activities. During this quick snippet, we'll review some core principles and applications of franchise accounting basics, franchise accounting system benefits, and other insights surrounding franchise accounting.   Read the full Blog Post: https://rasiusa.com/blog/the-importance-of-franchise-accounting  Watch the Quick Snippet Video: https://youtu.be/tSP1m-JhFb0    Social Handles:   RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_RASI  Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi

You’d like to know how to start a restaurant business but are not exactly sure where to begin. You want to start a restaurant and you create the ideal concept in your head. That concept begins with the idea at its inception. However, for your idea to survive, or even better to thrive, it must operate on a consistently executed financial plan and a sound restaurant business proposal. 50% of the restaurant concepts we see are largely “inspired” by existing operations. Beyond this, 85% of your food and supply purchases will be delivered from the same major distribution companies. So then what is it that makes your new restaurant stand out? What makes the experience like nothing we’ve ever seen? Unfortunately, the reality here is that without a sound and detailed financial plan and a commitment to following it, 75% of restaurant startups will be bankrupt within the first 24 months. So let’s take a look at what makes up a great business plan for a restaurant. Read the full Blog Post: https://rasiusa.com/blog/how-

The restaurant industry has, by and large, low-profit margins constrained by high capital, labor, and operational expenses. Yet there is a wide range of profitability within the industry, from white tablecloth establishments with low single digits profits to quick-service restaurants clearing over ten percent (if they’re really on top of their game). Despite this variability, restaurant profit margins most commonly fall within three to five percent of annual revenue. An adequate profit margin is critical for the sustainability of a restaurant business, as it’s from the profits, however slim that owners get paid, and restaurants grow. If a restaurant business cannot maintain a sufficient profit level, it may not be worth the time and money the owners put into it, therefore shutting down completely. Conversely, a healthy and growing profit margin for a restaurant will safeguard the future of the business and provide funds for improvements or even expansion to multiple locations. Read the full Blog Pos

Quick service restaurants (QSR) have complex accounting and payroll needs. Traditionally, expensive salaried employees have fulfilled these needs, but in the last 5+ years, technological advancements have opened the door to more cost-effective alternatives that increase operational efficiencies! Today, the QSR industry can benefit from software-based outsourced accounting teams, which offer all in-house accounting expertise at a fraction of the price. Tune in to learn how Quick Service Restaurants can benefit from updating their software with RASI! Read the full Blog Post: https://rasiusa.com/blog/top-3-reasons-outsourcing-accounting-payroll-will-help-a-qsr-brand-find-success/ Watch the full Video: https://youtu.be/6yhI2YMzdP8 Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi

When restaurant staff receives tips, both employee and employer incur legal obligations to the IRS to correctly record the tip amounts, comply with reporting requirements, and pay income and payroll taxes. For the restaurant operator, it’s critical to get these details correct from the start to avoid unnecessary penalties. This article will cover how to record tips in accounting and what the tax responsibilities look like from the employer and employee sides. Read the full Blog Post: https://rasiusa.com/blog/how-to-record-tips-in-accounting Watch the full Video: https://youtu.be/o0XmOorroGM  Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi