David Kranker

Last modified on June 3rd, 2022 at 1:36 pm

Chinese food is incredibly popular in the United States. In fact, there are more than 45,000 Chinese restaurants in the United States – more than the number of Burger King, McDonald’s Wendy’s and Kentucky Fried Chicken restaurants combined! If you want to open (or already run) a Chinese restaurant, the good news is that Americans love the cuisine. The bad news is that there is a lot of competition. One way that you can distinguish yourself is by coming up…

Last modified on May 27th, 2022 at 12:30 pm

What’s in a name?  For a restaurant, it could be a lot. Having a memorable name can create a strong impression with potential customers – making them more likely to want to visit your establishment.There are many different ways that an entrepreneur can choose to name their restaurant – such as by focusing on location, a family name, or simply something that sounds nice to them. But there is another route: getting creative! A funny, smart, or even punny restaurant…

Running a restaurant can be a wild ride – particularly in the current economy. There are many things that can cause a restaurant’s profitability to take a nose-dive, from a shut down order, to seating capacity limits, to rising labor costs, and out-of-control inflation. One way that restaurant owners can maintain some control is by closely analyzing and tracking their prime costs. Put simply, prime cost is what you spend in order to make sales. By adding together the cost…

When you run a restaurant, you have a lot of things to keep track of – from purchasing inventory to taking inventory to scheduling staff. Beyond these day-to-day operational tasks, you also have to closely watch your income and expenses. One of the best ways to do so is through analyzing your restaurant’s profit and loss statement. Software programs can help you create profit & loss statements for your restaurant. The next step is learning what the numbers mean so…

Compared to restaurants, bars and breweries often have a much larger profit margin. That doesn’t mean that it’s easy to stay afloat as a bar or brewery owner. Even with an average markup of 300% to 500% on alcoholic beverages, it can be difficult to remain profitable in such a volatile industry (especially as the COVID-19 pandemic continues). If you want to run a successful bar, it’ll take more than just attracting customers or having great drink specials. You’ll also…

Video marketing is not new. Ever since the dawn of television, companies have been marketing their products and services through video ads. But in our modern world, video marketing has changed its face a little. Today, video marketing is a key element to any good restaurant marketing plan. With the proliferation of social media, video marketing is no longer the domain of large national and international franchises. In fact, it can be a cost-effective way to catch the eye of…

When you run a restaurant, you have to keep an eye on every last dollar. For most restaurant owners, this involves closely tracking spending, sales, labor costs, and more. One of the most important factors to watch if you want to be profitable is food waste. According to Restaurant Hospitality, food waste costs restaurants an average of $25 billion each year. Taking steps to prevent food waste can cut a restaurant’s costs by as much as 2 to 6%. In…

To outsiders, owning and running a restaurant may seem pretty fun. In reality, it’s a lot of drudgery – and a LOT of paperwork. In order to stay profitable, you can’t just serve great food or have good service. You also have to closely watch every dollar that comes in and out of your business. Fortunately, there is software that makes tracking things like income and expenses a lot easier.  You can use these programs to develop comprehensive reports that…

When you decided to open a restaurant, you might have been focused on what you planned to offer to the public: an innovative menu, a cozy space, or outstanding service. What you may not have realized is that there is a whole lot of other work that goes on behind the scenes – like tracking every penny that comes into and goes out of your restaurant. Even if you have hired an accountant for your business, it still makes sense…

Running a restaurant requires a lot of attention to detail, from calculating labor cost percentages to managing employee schedules, to tracking inventory. This type of work can be daunting – but is incredibly important if you want to run a profitable business. One of the biggest investments that any restaurant owner makes is in their inventory. Keeping track of exactly what you have – from non-perishable items to perishables to spices and seasonings – is vital to ensuring that your…