Learn how to plan restaurant startup costs, estimate build-out budgets, and evaluate profitability before opening your restaurant.
You shouldn't run personal expenses through your restaurant for multiple reasons, but here are the top 5:
Category Archives: Restaurant Loans & Financing
Restaurant Loans & Financing
Merchant Cash Advances (MCAs) and POS Loans: The True Cost and Why Restaurants Should Steer Clear
29
Oct
Oct
This is a Guest Article was written by Mike Spitalney, CEO and founder of Everfund, a leading small business financing advisory firm. If you’d like to connect with Mike, you can inquire here or email him directly at mike@everfundcommercial.com. If you run a restaurant, you’ve likely seen the offers: “Fast cash tomorrow.” “No credit score minimum.” “Pay as you sell.”
Restaurant Accounting, Restaurant Bonuses and Incentive Plans, Restaurant Growth and Profitability, Restaurant Loans & Financing
The Ideal Inventory for Restaurants and Bars: How to Reduce Restaurant COGS and Increase Profit
04
Jun
Jun
The most effective way to reduce and control your cost of goods sold (COGS) is to monitor your prime costs every week, take inventory every week, and track actual versus theoretical cost of goods sold. Tracking prime costs weekly enables you to identify waste, theft, spoilage, and other cost of goods sold (COGS) mismanagement before
Payroll & Labor, Restaurant Accounting, Restaurant Accounting Automation, Restaurant Growth and Profitability, Restaurant Loans & Financing
FICA Tip Credit and Service Charges: The Essential Guide for Restaurants
27
Mar
Mar
The FICA tip credit for restaurants may be the industry's most simple, ubiquitous, and impactful tax incentive. Therefore, it's essential to understand how the FICA tip credit and service charges work together, especially when considering different wage models. In this article, we'll walk you through the history and fundamentals of the FICA tip credit calculation,
Restaurant Accounting Automation, Restaurant Growth and Profitability, Restaurant Loans & Financing
How to Deduct Pre-opening and Expansion Costs
06
Feb
Feb
Pre-opening expenses for a new restaurant can be a trap for the unwary because they’re generally required to be capitalized as intangible assets for tax purposes and amortized over 15 years starting in the month the restaurant opens instead of fully deductible in the year incurred. However, if you add a location, your pre-opening expenses
Restaurant Accounting, Restaurant Loans & Financing
Refinancing and Consolidating Your Restaurant’s Debt
06
Feb
Feb
Rates are Coming Down: Is it Time to Refinance and Consolidate Debt? A Day in the Life of a Restaurant Owner Meet Vanessa. She owns a restaurant with a strong core business. The margins are modest, but she’s profitable and growing. Wanting to enhance the bar and add decorative lighting, she took a quick cash
13
Dec
Dec
Running a restaurant is akin to juggling a flaming chainsaw while riding a unicycle. You’re constantly managing staff, inventory, vendors, marketing, and of course, your customers and their needs. On top of all that, you need to make sure your financial tightrope doesn’t snap. Is a loan from your POS provider the best safety net for
Restaurant Growth and Profitability, Restaurant Loans & Financing
Financing Your Restaurant Expansion: Unlock the Secrets
28
Sep
Sep
You’ve tasted success with your restaurant, and now you’re looking to savor more of it, perhaps by adding more seats, sprucing up the décor, or even taking a leap to open a brand-new location. As enticing as expansion can be, it often comes with a side dish of financial challenges. How do you fund this
07
Nov
Nov
For restaurants and other businesses that use a Point of Sale (POS) system, it’s very likely you have seen offers to borrow money from your POS vendor through a POS loan. These offers promise “fast” and “easy” money with limited application requirements. Are POS loans a great source of cash for you? Or are they
