Restaurant Budgeting 101

Restaurant budgeting 101 is a great place to start when it comes to trying to figure out your restaurant’s numbers. I’ve never wavered that the two most important systems any restaurant should have are budgets and recipe costing cards. Why? Because they're critical to your success. Let’s leave recipe costing cards on the table for now and focus on restaurant budgeting. Click the video below or keep scrolling for restaurant budgeting 101.

Let me start off by explaining the...

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Restaurant Labor Cost 101

Restaurant labor cost 101 is a plan for any restaurant owner who wants to solve the end-of-the-week panic when you check your labor cost on your POS system and see that it’s too high, so you whip yourself into a panic and start cutting staff on your two busiest days. The problem with this reactive approach is you’re setting yourself up for long ticket times and bad service, two of any restaurant’s biggest fears. To avoid this or stop this result, click below to watch the...

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Restaurant Managers Must Learn Three Essential Lessons to be Empowered

Let’s talk about how to get the most out of your management team instead of enabling them to do the minimum. In this episode of my podcast, The Restaurant Prosperity Formula, I want to share with you the three lessons you must teach your managers and supervisors that empower them to do their job.

If you're tired of doing everything yourself, you're tired of the excuses and you want things to change, definitely tune into this episode. As a bonus, I'm going to share with you how to...

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Food Cost Formula to Find Target for Independent Restaurants

food cost prime cost Mar 30, 2021

What if I told you you were asking the wrong question when you're searching for the food cost formula to find your target for your independent restaurant? If you want to know where your food cost should be to make money, I want to teach you the right question to ask and the best way to answer it.

When it comes to finding the right food cost formula to find your restaurant’s target food cost, I bet you've watched a number of videos as you’ve searched. I’m willing to bet some...

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Restaurant Startup Mistakes I See Most Often in Independents

I know a thing or two about restaurant startup mistakes and what I see most often in independents. If you're wondering if you made them when getting your restaurant open or if you’re looking to open your first restaurant and want to avoid them, this tip is for you.

Owning and running a restaurant is not for the faint of heart. It's really hard work. You put a lot of hours in and the profit margin, well, it's slim to none if you're not careful, especially when you start out.

What...

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How to Prepare for Massive Increase in Restaurant Sales

Let's talk about the massive increase in restaurant sales that is coming for every restaurant along with the quickest path to prepare for it. As vaccine shots go into more arms and restrictions are lifted in more cities and states, everyone who has been abiding by the stay-home recommendations is going to be flooding businesses like restaurants. They want to eat in restaurants, not just order take out from restaurants. They want drinks on the patio, not the take-home version of the cocktails...

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Restaurant Financial Reports Independent Owners Misunderstand

As a restaurant owner, are you afraid of your numbers? Do you look at your profit and loss statement only to see if you made or lost money the past month? Do you struggle actually knowing what goes into each line item? Well, you're in the right place because I'm about to talk to you about three important restaurant financial reports independent owners often misunderstand. Click below to watch the tip or keep scrolling to read more.

Maybe you think you're not naturally a numbers person....

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Restaurant Pricing Strategy to Get More Bang for the Buck

If I had a dollar for every restaurant owner who is looking for a restaurant pricing strategy to get more bang for their buck, I would be worth a ton of money! Why? Because everyone ties making money with increased sales and the easiest way to increase your sales is to raise your prices. But there’s a limit to how much you can raise your prices. Or is there? Click below to watch this video to get a restaurant pricing strategy to get more bang for the buck, or keep scrolling to read...

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Restaurant Management System to Improve Menu Engineering

Menu engineering is a popular search topic. It’s a buzzword and, when done right, can have a big impact on your restaurant’s sales. To do restaurant menu engineering correctly, you have to make sure you’re using proper restaurant management systems, whether it’s software or spreadsheets with formulas. If you’d like to learn a restaurant management system to improve menu engineering, click the tip below or keep scrolling to read more. 

Let's first make sure...

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Restaurant Training: 10 Steps to a Great Service Training Plan for Independents - Podcast Episode 15

In this episode of The Restaurant Prosperity Formula podcast, host David Scott Peters welcomes back Darren Denington, CFBE, founder of Service with Style. Darren has more than 30 years of experience in the hospitality industry and has an extensive background as a food and beverage director, executive chef, general manager, restaurant owner, staff trainer, restaurant coach and consultant. He holds the most prestigious certification available for a hospitality professional being a certified...

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