My Restaurant CFO

Do you have a labor model recipe for your restaurant? Labor is the most expensive recipe in your business and if you don't measure it properly it will cost you dearly. Here are some tips to optimize your model:
- Properly cost your schedule at least 4 days prior to the beginning the work week.
- Map it against your daily projected sales
- Review actual hours against schedule daily
- Cross train, cross train, cross train - the more options you have the tightener your can run the model.

If you need additional assistance on this or any other restaurant operations questions, reach out to book a complimentary session with one of our restaurant experts.

Join us a we remember and honor our nation’s heroes who gave the ultimate sacrifice for our freedom and that of others around the world. We salute and give thanks on this Memorial Day.

Happy Independence Day!

Same is true about chefs! Here are options listed by

You have 3 options here: ⠀⠀
⠀1. Partner with someone who is amazing at the business side of things. ⠀⠀
⠀2. Roll up your sleeves and learn how to run a business yourself. ⠀⠀
⠀3. Do your passion as a hobby and not as a business. (Can be awesome, too.) ⠀⠀
⠀⠀
If you’re choosing option 1, we’d love to talk to you. Hit us up online or send us a DM.

Posted • American workers are willing to leave companies that aren't doing enough to prevent burnout, according to a survey released by Vancouver-based workforce analytics company Visier. The survey polled 1,000 full-time employees across the U.S. It found that 89% of employees have experienced burnout in the past year, with more than half reporting that they've felt burned out most or all of the time. What's more, 70% of respondents would consider leaving their current employers for other companies that offered comprehensive resources, benefits, and policies aimed at reducing burnout, according to the report.

https://www.sba.gov/funding-programs/loans/covid-19-relief-options/restaurant-revitalization-fund?fbclid=IwAR0Tjls7kEg-wfOydMR4xdiKwSuYh1e3ZiaeHevHOFwq-LziNq3jYDUdlGk

Restaurant Revitalization Fund This program provides emergency assistance for eligible restaurants, bars, and other qualifying businesses impacted by COVID-19.

Tomorrow we will be co-hosting the quarterly Pinellas Independent Hospitality Forum along with several other local hospitality leaders as well as elected officials. Join us along with over 100 local owners and leaders as we discuss the biggest challenge our industry faces - staffing - and gameplan on how to solve it. Register here and hope to see you tomorrow:
https://web.stpete.com/events/QuarterlyHospitality%20Forum-6223/details..

Tomorrow we will be co-hosting the quarterly Pinellas Independent Hospitality Forum along with several other local hospitality leaders as well as elected officials. Join us along with over 100 local owners and leaders as we discuss the biggest challenge our industry faces - staffing - and gameplan on how to solve it. Register here and hope to see you tomorrow:
https://web.stpete.com/events/QuarterlyHospitality%20Forum-6223/details

Quarterly Hospitality Forum Home   Register Register Sponsors Related Links Weather Related Website Map Attendees Questions Your message has been sent. Your Email: Your Question: Send Question   ${NonMemberPriceDisplay}' } //{ // width: 100, // title: "Actions", // template: 'Edit | Copy | Remove' //} ] }).data("kendoGri...

2020 has been a historically difficult year for all but even more so for our industry. We pray 2021 is the Year of the Comeback! From all of us at My Restaurant CFO, we wish you a prosperous 2021 and remember we are just a quick phone call away. ..

Great customer service has become a rarity. Focus on excelling in service and you'll stand out from your competitors.

“Customer service is the new marketing, it’s what differentiates one business from another.” – Jay Baer

“Companies must realize that they are no longer competing against the guy down the street… they’re competing with every other experience a customer has.” – Dan Gingiss

How are you going above and beyond to set yourself apart from your competitors?

My Restaurant CFO says: Lowering your prime costs will increase your bottom line. Prime costs are calculated by adding together total Cost of Goods Sold (CoGS) and total labor costs. These are usually your two largest costs.

Learn more about how to lower your prime costs with our FREE E-book. 📖 Download here: https://loom.ly/VRTBreQ

Going through another Covid quarantine? Our team is ready to help! Schedule a FREE consultation with our CFO team today: https://loom.ly/075bpMc

85% of small businesses are discovered by new customers thanks to word of mouth recommendations! Potential customers will almost always check online reviews before visiting your establishment, so keep asking your customers for those positive reviews on Google, Yelp and Facebook.

“Customers who love you will market for you more powerfully than you can possibly market yourself.” – Jeanne Bliss

My Restaurant CFO is more than just accounting and bookkeeping. Learn how our years of restaurant management can help your business thrive: https://loom.ly/G1LOr3U

MY RESTAURANT CFO - Restaurant Bookkeeping, Payroll, Virtual CFO, and consulting services. My Restaurant CFO partners with restaurateurs to help them get their financial ecosystem under control. We work with your bookkeeping software and accounting...

Download our FREE Prime Cost Mastery E-book today! Available for a limited time! https://loom.ly/VRTBreQ

Prime Cost Mastery E-Book - My Restaurant CFO The first steps you can take to maximizing your restaurants profitability.

How are you instilling excellence in your team?

Our team has put together a FREE Prime Cost Mastery E-book for you. Available for a limited time so download your copy now! (link on homepage) https://loom.ly/B9JH0HU

Outsourcing your restaurant's financial reporting can free up valuable time and provide unexpected insights from independent experts so you can make better financial decisions.

Did you know My Restaurant CFO offers a full suite of Restaurant Financial Reporting? Customized to your needs and your timelines, we offer a variety of solutions, including:
✅ Restaurant P&L
✅ Balance Sheets
✅ Cash Flow
✅ Customized Reporting
✅ Budgeting & Estimations
✅ Actual vs. Budget
✅ Sales
✅ PRIME Cost
✅ Labor Cost
✅ Cash Flow & Projections
✅ Declining Balance

Learn more here: https://loom.ly/f1Mm8tw and give us a call today! (866) 502-5002

Our Virtual CFO services give you a full suite of restaurant accounting solutions without breaking the bank. Learn more: https://loom.ly/HXdnrr4

Did you know we specialize in online restaurant bookkeeping services for small and medium-sized restaurant businesses? Learn more here: https://myrestaurantcfo.com/restaurant-bookkeeping/ and give us a call today! (866) 502-5002

If an employee is having a bad day, choose to send them home for the shift rather than risk losing a customer or spoiling the mood for the rest of the staff. Off days happen for all of us and it's important to have our employees' backs, but we also need to make it a part of company culture to expect excellence and bring our best attitudes to every human interaction.

“Every contact we have with a customer influences whether or not they’ll come back. We have to be great every time or we’ll lose them.” – Kevin Stirtz

Did you know Black Friday originated in Philadelphia? In the 1950s, Philly cops coined the phrased Black Friday to describe the bedlam that would occur the day before the annual Saturday Army Navy football game, as shoppers and tourists poured into the city. By the late 1980's retailers had rebranded Black Friday to a more positive light and it spread nationwide.

Happy Thanksgiving! Today we are so grateful for our families, our health, and our awesome customers and partners.

What are you thankful for today?

As Covid restrictions ramp back up, restaurants across the country are scrambling to survive another potential shut down. My Restaurant CFO is here to help. Schedule your free consultation today: https://loom.ly/075bpMc

As a restaurant owner, you may believe your menu, decor, and service is exceptional, but if feedback from customers doesn't align with your opinion it's time to reassess.

“The customer’s perception is your reality.” – Kate Zabriskie

Did you know farm raised salmon is naturally white? Consumers prefer to eat pink salmon, so farmers add dye to their fish food to turn the salmon flesh that pleasing pink color we so love to eat! 🍣

If you're a restaurant owner or manager, take two minutes to watch this video and learn how we can help you make more $$$! https://loom.ly/G1LOr3U

MY RESTAURANT CFO - Restaurant Bookkeeping, Payroll, Virtual CFO, and consulting services. My Restaurant CFO partners with restaurateurs to help them get their financial ecosystem under control. We work with your bookkeeping software and accounting...

How are you influencing your team culture?

Tactical Tip Tuesday: Keep detailed employee records. These records should include employee schedules and pay, as well as times employees have been late or called out of work and why, as well as any notes for insubordination or praise. These notes will come in handy if you need to make a case for an employee promotion or termination.

Innovation isn't just for technology. All businesses, including restaurants, need to be constantly improving. How are you keeping your customers happy by creating fresh concepts, new products and exceptional service experiences?

“Every day we’re saying, ‘How can we keep the customer happy? How can we get ahead in innovation by doing this?’… because if we don’t, somebody else will.”– Bill Gates

How can My Restaurant CFO help you? We're more than just accounting or bookkeeping (although we do offer those services as stand alone). Learn more here: https://loom.ly/QrJNIMU

MY RESTAURANT CFO - Financial Clarity We Partner With Restaurants to Simplify Financial Management​. Learn how we can help you save money and confidently forecast your financial health for a brighter…

My Restaurant CFO says: Restaurant managers should be the first to arrive and the last to leave, as you set the culture for the rest of the staff.

Lead by example by:
1. Being on time, setting the expectations for your employees.
2. Leaving last, once all work is complete.
3. Know how to do every job in the restaurant so you can take over if needed.

How are you leading by example?

Start every day with a solid plan. ✍️ Managers are pulled in many directions during a work day, so having a written or electronic list of your goals for the day will help keep you focused and on task.

Items to start your list could be shift assignments for the day, inventory notes, and miscellaneous tasks that need to be taken care of or caught up on during slow times of day.

What items will make your daily task lists?

What are you doing to build relationships with your customers? Consider ways to increase your repeat clientele, whether it's personal relationships, email marketing, social media groups or other financial incentives.

“The purpose of a business is to create and keep customers.” – Theodore Levitt

Meet Miguel Miranda, Chief Client Relations Director and co-founder of My Restaurant CFO. Learn more about Miguel here: https://myrestaurantcfo.com/meet-the-team/

Prompt, creative thinking is critical to solving problems effectively. Juggling constant activities, from customer experiences to employee issues, managers need to remain calm while making quick decisions when issues arise such as being short on supplies, an employee quitting or shipment delays.

As the minimum wage potentially increases and labor laws change, restaurants should consider experimenting with new ways to drive down labor costs. Consider testing a service charge for the back-of-house and/or front-of-house staff.

Ask how My Restaurant CFO can help: https://myrestaurantcfo.com/contact-us/

Usually when we think about restaurant service, we think of front of the house staff, but it's important to remember the job of everyone on the restaurant staff is to serve the customer, directly or indirectly.

So if you're not directly serving the customer, you're serving the person who is. Cooks, dishwashers, bussers, and even managers all need to have the mindset of being in service to the hosts, bartenders and servers who are face-to-face with the customers.

TGIF! Where are you going to celebrate tonight? 🍽️Drop a link of your favorite restaurants below! 👇