Since 2008, profit margins in restaurants have grown consistently, but this increase is never guaranteed. With food and labor costs on the rise, how can you prevent your margins from eroding without losing your customer base?
Some restaurants are going debt-free, but does that make sense for your business? Although some debt is decidedly “bad debt,” other investments can help accelerate your restaurant’s growth. Careful consideration of debt options is essential; read on for questions you can ask for a quick debt self-evaluation.
As your small business gains traction in this economy, you may find that it’s time to add employees. We wrote in February about ways you can find and attract the right employees for your business, which is a critical first step toward expanding your headcount. But whether your small business is growing from one or two employees, or from 50 … Read More
Earlier this month, we wrote about how the U.S. economy has begun adding jobs within the small business sector. We advised that a review of the business’s cash flow strategy and financial plan were necessary first steps before adding employees. Let’s assume the financials are in order, and your business is ready to take the next step; it’s time to … Read More
2014 has kicked off with some “game-changer” trends that could shoot your restaurant ahead of the competition. Find out more about these trends and how you can put them in place at your establishments.
As a business owner, you may sometimes wonder if accepting credit card payments are worth the cost. After all, it does add to your expense column. You have to buy or lease the card processing equipment, you may need to change your accounting system, you need to train employees on how to handle payment, validate identification and prevent fraud, and … Read More
Groupon. LivingSocial. Gilt Groupe. There are few advertising options that garner as much praise and poison at the daily deal provider. They’re heralded as traffic generators in one breath, and small business destroyers in the next. What is their attraction? The most obvious benefit to the daily deal is traffic generation. Overall, almost 80 percent of daily deal traffic comes … Read More