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Profitable Hospitality
55 followers -
A one-stop platform packed with useful resources for busy restaurant, cafe, hotel, franchise, bar and club operators.
A one-stop platform packed with useful resources for busy restaurant, cafe, hotel, franchise, bar and club operators.

55 followers
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Check this great interview for a strong 2017: Better Bookkeeping & Numbers for the New Year

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CrashOverrideNetwork - a ton of great resources to protect you from online attacks and abuse

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Make this #1 NY Resolution for a Big Payoff: Better Bookkeeping & Numbers for the New Year

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When a union official comes knocking to enter a workplace [Australia]

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Trust me - I'm your employer. Interesting article on a company's development of trust and productivity

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How do you prevent employees from misusing confidential information? This is often handled poorly

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Do Your Chef & Manager Understand these 9 Basic Business Figures?

Most managers and chefs have learned their ‘financial wisdom’ on the job, so they may not really understand the most important concepts. Hard work is not enough – regular briefing on business fundamentals can grow them into real ‘business partners’ – there are huge benefits if you take the time.

Start by checking their understanding of these:

Profit = Sales minus Expenses. If expenses are higher than sales, we can only stay open as long as someone finds extra cash to make up the difference. If it runs out, the business will close. Yes, this is basic, so why is it misunderstood?

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How to Build a Weekly Results Dashboard – Figures to Drive Action

There are so many figures in the POS system, bookkeeping program, customer counts and marketing feedback – but rarely together in one place. Here’s how to put together a simple weekly set of the most important figures so you know what’s working, and what to fix. When you measure it, you can manage it!

Create a Standard One-Page Format. You’ll find examples ready to use in the Profitable Hospitality Downloads. Once people are familiar with the layout, they will know exactly what to look for and their ‘financial education’ is underway. Test what figures have a real influence on improving results.

Start with the Four Major Numbers. You could round up dozens, but the four key ones will give you most of what you need: Food Cost %, Beverage Cost %, Employee Cost % and Sales per Head. The last one implies that you count the customers, carefully. This can be done with more careful use of your POS – without it you’re working on guesses about customer spending.

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Latest Podcast: How Smart Restaurants, Cafes & Bars Use Instagram & Snapchat http://buff.ly/2hXs88s with Time Out Melbourne
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