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Hi All, I wanted to share a conversation I had with my client about classifying certain items as either capital expenditures (CAPEX) or operational expenses (OPEX). We discussed whether items like cutlery, plates, glasses, cups, tablecloths, trays, menu holders, and tables should be categorized as CAPEX or OPEX. The client believed they should all be considered CAPEX since they last over a year. However, I replied that you are 100% correct that they do have a lifespan beyond one year, but their cost is minimal and doesn’t significantly impact the P&L. So, I suggest that these items are low-cost and can be easily replaced; they are more suitable to classify as OPEX. On the other hand, tables, due to their higher cost, can be classified as CAPEX. What do you think?

Hey everyone, I hope you’re all having a fantastic week! I wanted to share another quick tip that could make a difference to your restaurant. Keep an eye on your food cost percentage. By regularly tracking your food costs as a percent of sales, you can spot trends and knows when potential issues may arise. Use the industry standard to keep your food costs in a profitable range, normally between 28-35%. If your food costs are rising, it could be time to revisit your menu pricing or call your suppliers and negotiate prices. By staying on top of your food costs, you will be able to have better profit margins and keep the restaurant financially healthy. By staying on top of this, you’ll be able to maintain healthier profit margins and keep your restaurant financially strong.

Hey everyone, I hope you’re all doing well! I wanted to share a quick tip that’s been really helpful for managing the financial side of running a restaurant. It’s all about regularly reviewing and reconciling your accounts. Sure, daily bank reconciliations are great for keeping things up-to-date, but taking the time to do a thorough reconciliation at the end of each month is crucial for closing your books accurately. This helps catch any discrepancies and ensures your financial data is accurate and complete. By making this a habit, you’ll have better insights into your finances, which can make budgeting and decision-making a lot easier.

Hey restaurant owners, i am a local SEO expert that has helped multiple cafes and restaurants get 100s of customers in 30 days. I compiled my step by step strategy into an ebook. Using only this strategy (which does not require any paid tools or any further expense) you can rank your restaurant/cafe higher in the searches. Would you like to read it?