Budgeting for your small business has never been more critical or, fortunately, easier! With companies across every industry and around the world tightening their budgets and crunch the numbers, it’s good to know your business is not alone. Here we will outline some tricks and tools that can make the process more efficient and cost-saving for business owners.
So how much does it cost to open a bakery? A small bakery has a generally less expensive startup cost of approximately $10,000 to $70,000 compared to joining an established bakery franchise, which averages at $400,000.
Who hates to run a restaurant that makes the competitor’s eyes pop in envy? Running a profitable business in an industry where change is the only thing that remains constant is not easy. It’s one of those tasks that require patience, diligence and unwavering commitment to increasing performance.
Nothing is more critical to your business than happy and satisfied customers. While it is always crucial to acquire new customers, but nurturing and retaining your existing customers is equally paramount for you. How you convince them with your products or services and how you make them feel important throughout their customer journey determines their happiness.
If you are an owner or restaurant manager, you’re familiar with the scenario: you’re glancing at your watch or the clock on the POS, looking nervously between the growing crowd out in the dining room and the employee entrance. Your employee is late – really late.
Have you heard the one about the stereotypical restaurant owner? How he loves the business but hates the business and spends his entire life complaining about how he doesn’t have a life. Even worse, are you that person?
Patrons, like their restaurants of choice, often change with the times. New generations of patrons are continually defining the restaurant experience.
With the hospitality business now more competitive than ever, and highly ranked restaurants all vying for consumer attention, restaurateurs must use the right tools to attract the modern, adventurous diner with their distinct tastes and demands.
A business starts up comes with a lot of responsibilities. Once the business plan is in place, the focus has to shift to the finances needed to fund the business. The costs begin almost immediately. The new business owner does not want the stress of wondering where they are going to be able to generate the money needed. While there are many business financing ideas and options available, here are a few of the top ideas on how to finance your business.
With Tax Day approaching, many people are getting the final touches done on their submittals. With restaurant taxes, you have some special tax considerations that are different from other business types. Before you sign off and file your return, consider these 12 restaurant tax deductions and tips for restaurant owners
For years now, the changing landscape of marketing has affected the growth of retail industries. As more people are shifting to digital, the hope for brick and mortar stores to thrive seems to be dimming down.
A retail think tank Fung Global Retail & Technology revealed in 2017 that about 6700 stores in the US had announced their plans to shut down.