Income Is Not the Same as Profit
When the front of the house is full and the kitchen is just short of being backed up, it’s easy to think you’re making money as you watch the cashier process ticket after ticket. And the truth is: you probably are making money; but, it’s not how much you make that counts , it’s how much you get to keep.
The secret to managing with a goal of profitability is to achieve the perfect balance between overhead costs and sales. This may sound easier said than done, but it actually is relatively easy to achieve if you understand and implement specific financial management skills. Restaurant managers are not accountants, nor should they be expected to be. However, they are the people whose decisions have the most ability to impact a restaurant’s bottom line and managers do need to have access to the tools and technology necessary to get the job done.
How long does it take to make an employee schedule? It should take less than 5 minutes! Did you know that labor costs could be as much as 30% of your expenses? TimeForge can help streamline and minimize labor costs through effective employee scheduling at your restaurant, bar, or club.