article thumbnail

Prime Costs: Understanding and Application for Restaurants

Synergy Suite

In essence, a keen understanding and effective management of prime costs become indispensable tools for restaurants aspiring not only to thrive in a competitive market but also to build a sustainable foundation for long-term financial success. This category includes: Alcoholic Beverages: The cost of wine, beer, spirits, and mixers.

article thumbnail

COGS: Cost of Goods Sold Considerations for Your Restaurant Business

Synergy Suite

By keeping the COGS percentage in check, restaurants can safeguard their profit margins, ensuring financial stability and sustainable growth in a competitive culinary landscape. Consistent monitoring of COGS trends allows for proactive responses to market changes, ensuring that the delicate balance between cost and revenue remains in harmony.

Pricing 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Gross Profit Margin: A Guide for Restaurants

Synergy Suite

Gross profit margin measures the profitability of a restaurant’s core menu items after the cost of goods sold is considered, but operating profit goes further by accounting for costs like labor, rent, utilities, marketing, and other overhead expenses. Dynamic pricing strategies during peak hours or for popular dishes can boost revenue.

article thumbnail

2023 Outlook: Trends and Challenges Restaurants Will See, Part One

Modern Restaurant Management

More international brands will continue to enter the US market through delivery-only models. That could now ease somewhat as the recession forces some who have been on the sidelines back into the labor market as families need to make ends meet. CPG brands will realize new opportunities in restaurants.

Pricing 167
article thumbnail

Fast-Casual Academia, Climatarian Menu and Ice Auction

Modern Restaurant Management

“In the face of the COVID-19 pandemic, the resilient women and men of the hospitality industry are adapting to survive in this unprecedented and difficult business landscape,” said Shu Chowdhury, founder and CEO of SALIDO. Market Cafe is completely contact-less: guests scan and pay for all their items and leave.

Marketing 162
article thumbnail

EZ PPP Forgiveness App and Yelp’s New COVID Help

Modern Restaurant Management

Bloom Intelligence acquired SuperFi, a WiFi marketing company that provides professional email marketing services with advanced segmentation and analytics. a WiFi marketing and analytics platform for digital agencies, in December 2019. Bloom Intelligence Acquires SuperFi. Financial details of the deal were not disclosed.