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

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. Promote high-margin items through marketing and menu placement.

Insiders

Sign Up for our Newsletter

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

article thumbnail

How to Wield Restaurant Food Costs to Your Advantage

MBB Hospitality

Implementing Food Costing Solutions With the right food costing solutions, restaurants can turn a meticulous eye to their inventory and procurement processes. Leveraging technology can streamline these processes, reducing waste and ensuring precise portion control.

article thumbnail

COGS: Cost of Goods Sold Considerations for Your Restaurant Business

Synergy Suite

Consistent monitoring of COGS trends allows for proactive responses to market changes, ensuring that the delicate balance between cost and revenue remains in harmony. Implement efficient inventory management practices to minimize waste and control ingredient costs.

Pricing 52
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. Director of Procurement and Strategic Development at Wyndham Destinations.