budget

Food costs are on the rise and restaurant profit margins are taking hits. While there is a laundry list of systems you can use to reduce your food cost — such as attacking your descending dollar [...]

By David Scott Peters According to an article in Nation’s Restaurant News, Italian restaurants are likely to experience the highest increased commodity costs this year. It’s all that [...]

By David Scott Peters Restaurant Tip of the Week It all goes back to staying in budget Do you want to know why inventory turns are so important? Knowing your inventory turns will help you stay in [...]

So, what is accrual accounting for restaurants? I advise all of my members – independent restaurant owners like you – to set up their businesses on an accrual accounting basis. [...]

By David Scott Peters Restaurant Tip of the Week The purchase allotment system will allow management to order what is needed to operate smoothly, while staying within the budget, and to recognize [...]

In this post I explained what makes up your prime cost and why it’s so important. I also revealed to you that your restaurant’s target prime cost should be 55 percent, in most styles [...]

By David Scott Peters Restaurant Tip of the Week Once you get in the habit of projecting your cash flow on a monthly and even a weekly basis, you’ll start to see trends and be able to project [...]

What is prime cost? Prime cost is a key number in restaurants. It’s the grand total of your total cost of goods sold, which includes both food cost and liquor (also known as pour cost), and [...]

By David Scott Peters Restaurant Tip of the Week Project your cash flow As the old adage goes, cash is king. You must find a balance between cash availability and cash needed. Projecting your [...]