Tag: Restaurant Industry Standards
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Pizza Restaurant Audit Guide used by the Internal Revenue Service
In the mid 90’s, the Internal Revenue Service created an audit guide specifically for pizza establishments. Today, this guide along with the Retail Industry Guide, specifically Chapter 4 which covers the examination techniques for the food service industry is used to audit the typical family style pizza restaurant.
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Restaurant Profit and Loss Statement – Best Format to Use
A well organized and understandable restaurant profit and loss statement can provide infinite value to a restaurant owner. The best format to use allows the owner to understand his prime costs, total variable costs and the required contribution number necessary to cover fixed costs and desired profit.
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Fixed and Variable Costs in a Restaurant
Many restaurant owners and managers do not understand the difference between their fixed and variable costs. The problem with defining fixed and variable costs in a restaurant relate to their connection with sales.
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Alcohol Costs – Monitor Closely
In the restaurant business, alcohol is the single best margin generator. If you are going to have a profit, this is where the money is made.
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How to Purchase Equipment for a Restaurant – Business Finesse
Purchasing equipment for a restaurant is a daunting task. There are three phases to successfully purchase restaurant equipment.
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How to Purchase Equipment for a Restaurant – Research Phase
This is really an extension of planning. If done properly, this will take a few weeks of work for a new restaurant. The key is to go through your list and look at the different models for the needed equipment that are out there.
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Controlling Food Costs in the Restaurant Industry
The top two costs associated with owning a restaurant is labor and food. Controlling these prime costs in effect is the bottom line in your business.
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Controlling Labor Costs in a Restaurant
There are two costs that stand out in the restaurant industry. Food and labor comprise more than 45% of the typical expenses of the restaurant. No other expense comes close to these two costs.
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Food Service – An Introduction to Owning a Restaurant
I have always been impressed by those that provide meals to our society. Overall, I don’t think they charge enough, but that is just my opinion. It also comes out in the numbers.