Hospitality Magazine
FEBRUARY 6, 2023
A digital menu gives you endless flexibility to experiment with new dishes, drinks and pricing. If something doesn’t work, it’s gone in minutes, or you can raise the price if it’s a success. If you’re already using online rostering and booking services, integrate them with bookkeeping, payroll and marketing. Upgrade your menu.
Modern Restaurant Management
AUGUST 22, 2022
Consumers continue to be hit hard by inflation as we see prices skyrocket for a variety of goods. These high prices are certainly taking a toll on consumer spending, which will eventually change their restaurant dining habits. This was especially true in June, when inflation soared to 9.1%
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Modern Restaurant Management
FEBRUARY 27, 2023
Hold Vendors Accountable to Contract Pricing As restaurant owners receive vendor invoices, they should use a system that can track purchased item costs to discover any contract violations. Reviewing these numbers frequently can help to hold vendors accountable to the prices they are quoting.
Revenue Hub
JUNE 23, 2023
Particularly in this environment, your pricing strategy isn’t as easy as taking last year’s rates, bumping them by 5-10%, and waiting for the bookings to flow in. This is where not having a pricing tool can create gaps in your strategy, not to mention taking hours of your time researching comp sets. But another storm cloud was looming.
Modern Restaurant Management
JANUARY 31, 2024
Inventory : Generally, when food costs go up, operators will raise their menu prices by a small amount. But what we’ve found is that operators have been leaning on menu price hikes to cover their expenses for more than two years now, and they’ve finally reached the limits of what consumers are willing to pay.
Synergy Suite
AUGUST 17, 2022
So instead of doing it manually, you can use software solutions to automate your accounting and bookkeeping process. Thus, you can save up on money by changing brands for your ingredients, cutting down on labor costs, raising menu prices, or reducing food portions. Finding the right price for the food item on your menu can be tricky.
The Restaurant Times
AUGUST 5, 2022
You can also regulate the price of your menu items once you know exactly how much each meal has cost in preparation. Keeping an accurate track of the COGS helps you regulate the pricing of food items. Difference Between Restaurant Bookkeeping And Restaurant Accounting. Key Restaurant Accounting Metrics. Labor Costs .
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