1. David Scott Peters

By David Scott Peters Restaurant Tip of the Week Payback period The payback period is the number of years it takes to recover the initial investment and is calculated by counting the number of [...]

Myth or fact? There’s no need to write down your mission. After all, you’ve told people what they’re supposed to do and they should just do it. Myth Write your mission statement down and then [...]

Myth or fact? Family-run businesses should have an organizational chart. Fact In a family-owned restaurant there are official roles and job duties. But oftentimes there are also unofficial roles [...]

Myth or fact? There’s no reason to assign roles in a family-run restaurant because everyone knows their place. Myth Ha! This one makes me laugh out loud. It is a complete misnomer to think that [...]

Myth or fact? In a family-run business, it’s easiest and best to just keep doing things the way they’ve always been done. Myth It’s not uncommon to hear, “that’s how we’ve always done it,” when I [...]

Here are 13 steps I developed in writing a restaurant schedule to make it fun and effective. With this system you and your managers can write great schedules that satisfy the needs of the [...]

By David Scott Peters Restaurant Tip of the Week Return on sales (ROS). The ROS ratio indicates both the profitability and the risk level of the restaurant. The calculation is completed by [...]

By David Scott Peters How to Hit Your Target Food Costs Every Time The prime cost for your restaurant is a key indicator of success, and I tell my members to aim for 55 percent no matter the [...]

By David Scott Peters Restaurant Tip of the Week Return on equity (ROE) This ROE ratio is used to determine if an owner’s investment into the business is attractive or not. The calculation is [...]

By David Scott Peters Restaurant Tip of the Week Know your current ratio The current ratio gives a good indication of the financial stability of the restaurant. The calculation is performed by [...]