Unpredictable Costs: Key Financial Concerns of Restaurants

For restaurant owners, it seems like everything is a major concern and, in reality, it is. Almost every conversation I have with new clients starts “before COVID”….. They are longing for the days when their issues were the day-to-day staff showing up late, equipment breaking down or taking care of guest issues. All these issues were predictable and were problems that they could handle because they were all in their control. I’ll break down our key financial concerns, but what is stressing us out more than anything else are the issues that are out of our control and lowering our sales and profit margins. The biggest financial stressor is that our customers don’t understand why prices are skyrocketing and their reaction is to either go out less, spend less or look for the cheapest meal possible. 

Labor, Uncontrollable in Every WayFrustration 1 – Wages. Labor in some states has jumped 30 percent or more in the past few years and in many areas the minimum wage will jump…