Money and Finances

Cost-Efficient Methods for Your Restaurant Business

Looking to save money but not so sure how to start practising cost-efficient methods for your restaurant? Cost-efficient methods may seem daunting and complicated but it really does not have to be – this article will provide you with 5 logical and simple tips to increase your profit margins overnight! 1. Go Green! If your restaurant is still stuck on using disposable plastic utensils, cups or plates, it’s time to go green! Many eco-friendly restaurants utilise glass or ceramic dining ware instead and have even gone the extra mile to use metal straws. The one time cost of buying these sustainable dining ware will save you the accumulative amount spent on disposable plastic utensils in the long run. Plus it will completely rebrand your restaurant – imagine pretty China plates ins...

Grow Your Restaurant Business Without Burning a Hole in Your Pocket

Turning your restaurant business into a success is easier said than done. Expanding your business and opening more outlets requires not only maximum effort, but also an even larger capital. While many business owners resort to taking extra loans for business expansion, this can be a risky move if you’re not aware of your repayment capabilities. Or sometimes, some business aren’t able to generate enough revenue to qualify for these loans. So how else do you grow your restaurant business without needing to rely on taking loans? Here’s 3 tips to expand your restaurant business without needing bang the buck!

2 Simple Ways to Manage Your Restaurants Finances

I’m going to admit that when I first started running my restaurant, I had zero knowledge in monitoring and managing cash flow. For me opening my restaurant was the end goal. Let’s be honest, deciding on the venue and rent, name of the restaurant, restaurant concept, menu, staffing and hiring, and marketing of the restaurant can be exhausting! A month after opening my restaurant, I realized that I had been so caught up in the day-to-day operations I had neglected the most important aspect of my business; the finances. Being a new business owner, I didn’t know how to handle the daily finances and cash flow of my restaurant. Knowing how to handle and manage your businesses cash flow and finances is important for operations and longevity of your restaurant. A business that’s able to manage the...