Is Your Restaurant Business Thriving?

2 Min Read By MRM Staff

Have you completed a small business checkup at your restaurant lately? If not, you might be overlooking ways to improve your eatery’s financial health and learn to thrive in this challenging economic climate.

Full tables, employees earning solid tips, shifts being fully staffed and the restaurant having the ability to source quality provisions at reasonable prices and dependable delivery times, are among the signs the business is thriving, according to Ben Johnston, COO of Kapitus. He added that wage expense should be stable and within a range of 20 to 30 percent of revenue and rent expense should be within six to 10 percent of revenue. 

If you are experiencing the opposite: if check sizes and alcohol sales are declining, employee turnover is increasing, and vendors are refusing to deliver without receiving payment in advance, then your business is not thriving, he warned. 

“Owners should be examining the table turns and cash receipts of the business daily and comparing them…