WISK.ai - Inventory Management for Restaurants & Bars’ Post

The biggest mistake restaurant owners make is mismanaging your finances. ❌ Not understanding your costs, profits, and cash flows, overspending on ingredients, underpricing dishes, or neglecting slow periods. All of these can sink your restaurant fast.  Take charge—track expenses meticulously, set realistic budgets, and monitor your financial health closely. 💰 I've created the Unsliced Restaurant System to share everything I've learned over the past 20 years of restaurant ownership so you as well can create profitable restaurants and scale to 7 and 8 figures. 🔥 Click the link in bio to apply for a free consultation

What is the total cost of a restaurant meal? When wondering about the cost of eating outdoors, one easily forgets that the total cost of your visit, and hence the meal, is greater than what goes inside of your meal in the form of a recipe (aka Bill of Materials or BOM). Not only has the restaurant owner to arrange the ingredients and professional staff, but the total cost also includes a number of line items that go through the Cost of Meals Sold (aka Cost of Goods Sold or COGS) to the total cost including the overheads (fixed, indirect and allocated). - Prime location in the city center, right? - Nice ambience and decoration, right? - Awarded chefs preparing the meals, right? - Entered based on an advertisement, right? And the list goes on… and on… There are various efforts, costs and risks associated to running an enterprise. These have to be factored in and covered up for in the pricing of the goods and services being sold. #restaurant #costs #overheads #accounting

The biggest mistake restaurant owners make is mismanaging your finances. ❌ Not understanding your costs, profits, and cash flows, overspending on ingredients, underpricing dishes, or neglecting slow periods. All of these can sink your restaurant fast.  Take charge—track expenses meticulously, set realistic budgets, and monitor your financial health closely. 💰 I've created the Unsliced Restaurant System to share everything I've learned over the past 20 years of restaurant ownership so you as well can create profitable restaurants and scale to 7 and 8 figures. 🔥 Click the link in bio to apply for a free consultation

🍹✨ Calling all restaurant and bar owners! 🍴💸 Are you struggling to understand how to calculate the important costs that are impacting your bottom line? Look no further! Backbar is here to break it all down for you. From liquor costs to food costs and labor costs, we've got you covered. Knowing how to accurately calculate these costs is essential for running a successful and profitable establishment. It can help you make informed decisions about pricing, inventory management, and staffing. Don't let these costs sneak up on you and eat into your profits. Let Backbar guide you through the process and help you take control of your finances. Check out our latest blog post for all the tips and tricks you need to succeed in the restaurant and bar industry. Learn more on our blog: https://bit.ly/461y7Ow #Backbar #RestaurantOwners #BarOwners #CostCalculation #ProfitMargins #FinancialManagement #HospitalityIndustry #SucceedWithBackbar

Cook up success: Learn how to create a restaurant financial plan in Excel and discover your path to profitability. Our step-by-step guide helps you crunch the numbers before firing up the kitchen! 🔗 https://lnkd.in/gz9gtj5N #RestaurantBusiness #FinancialPlanning #SomekaTemplates

Do you have customers who own or operate a restaurant or food service business? Utica First writes more types of restaurants than anyone. Our restaurant business owner policy conveniently bundles coverage to protect business owners from financial loss should the what-if occurs. To find out more about our restaurant BOP, visit https://bit.ly/4aE5lFz #KeepingInsuranceSimple

Don't Let This Be Your Restaurant! 😝 Without a proper restaurant management system, things can get out of control quickly! Avoid financial disasters and keep your business running smoothly. #restaurantmanagement #accounting #hospitalityindustry #FinancialHealth #mochi #possystem #memes

Today is day 3 of Margember in July and today we are focusing on finances. Do you know how to properly track your restaurant's COGS? If you aren't already, tune into our free webinar and improve your margins. 👉 https://lnkd.in/g_By9u9V #MargemberInJuly #COGS #RestaurantFinance #BusinessTips #FinancialManagement #ProfitMargins

Being a new restaurant owner in the food industry can be daunting. Many businesses opt for the assistance of a restaurant consultant, a crucial figure in the establishment of your venture. These professionals offer expert guidance on various facets of your business, helping you navigate challenges and avoid potential losses: https://lnkd.in/exeh2rsZ #RestaurantConsultant #FoodIndustry #RestaurantOwners

If you want to maximize your earnings as a restaurant owner, here's what to do:   ✅ HAVE SYSTEMS IN PLACE! Here's the top 3 every restaurant should pay attention to:  1️⃣ Financial Tracking System: It helps you keep track of all the cash coming in and going out of your restaurant. With this system, you can make sure you're always on the right financial path. 2️⃣ Have every menu item costed out to a t, not just a guess but down to the gram linked up to the cost for each ingredient. 3️⃣ Only continue to invest in marketing that you know moves the needle. If it's just a good idea with no way of tracking it, you're guessing and throwing money in the air hoping it duplicates. I created the Unsliced Restaurant System to share everything I've learned and the systems I used to open 12 successful restaurants. Comment "SYSTEM," and I'll share more details. 💯 #restaurantowner #restaurantsuccess #restaurantcoach #restaurantconsultant #profitablerestaurant #restaurantoperations #restaurantsystems