If you come from a predominantly culinary background, the thought of balancing your restaurant’s finances might seem overwhelming. But as a restaurant owner, it’s imperative that you stay on top of your finances to make sure you understand exactly what’s happening at your business. Here are some helpful tips to keep in mind when setting
Filing It Down: 10 Tax Tips for Restaurants
It’s one of the two things you absolutely cannot avoid in life, but federal and state tax filing can be a source of stress for a restaurant owner beyond that of the average taxpayer. Accounting for all of your potential deductions is exponentially more complicated than when you file as an individual and making sure
How to Find a Great Restaurant Accountant
Whether you’re starting a new business or prepping your taxes for another year, hiring a restaurant accountant may be on your mind. Even the most business-savvy restaurateur could use an accountant to help handle the ins and outs of the restaurant’s finances — particularly given the sheer amount of daily responsibilities a restaurant owner has
How to Improve Labor Costs through Operational Changes
When it comes to reducing restaurant labor costs, often the focus becomes on retention. And yes, retention is huge for the restaurant industry because of the high turnover rates and how that affects your bottom line. But if you’re serious about lowering your restaurant’s labor costs, an equal focus needs to be placed on efficiency
An Entrepreneur's Guide to Restaurant Financing
Michael Tran is Partner & CEO of the Peli Peli Restaurant Group in Houston, TX. Peli Peli is the only South African fusion restaurant in Texas and the 2010 Click2Houston winner for Best Romantic Restaurant in Houston. In addition to its awards for atmosphere (2009 Houston Press – Reader’s Choice) and ambience (Best Romantic Bar
Ditch the Cash? The State of Restaurant Credit Card Payment
Consumer behavior and merchant expectations regarding restaurant credit card payment are changing. Can you feel it? From Argo Tea to Epic Burger, the trend of businesses going cashless and only accepting credit card payment is still small, but growing in the wake of a customer base that increasingly eschews cash for cards. In a poll
Employee Turnover: How to Lower Restaurant Labor Costs
Three of the next four employees you talk to in your restaurant won’t be with you this time next year — that is, if hospitality business statistics bear out for your business. Industry turnover rates are at 73%, and it’s more than just the hassle of rehiring that restaurants have to deal with. Restaurant labor costs
How Much Does It Cost to Start a Restaurant?
New ones seem to pop up all the time. That empty storefront that used to be an insurance office — now a bustling sandwich shop. The vacant lot you never thought would get filled — now a Southern-themed family restaurant. Entrepreneurs left and right are looking for opportunities and spaces to build out their dreams
7 Things to Know When Starting a Brewery
Let’s say you love beer. Not only do you love beer, but you want to make beer yourself. Maybe you’ve done homebrews before and now you want to share your beer with the world on a grander scale. Why not work on starting a brewery? Getting a brewery off the ground is basically like starting
Minority Owned Business Financing and the Restaurant Industry
America is growing and changing, inching ever closer to a true melting pot of people, places, and business — and the restaurant industry is no exception. In recent years, we’ve seen minority owned business continue to flourish, despite obstacles in their way. So, how have things changed in the last decade? What do these changes
