Finance to Table Education for Operating Your Restaurant

Software solutions for your restaurant

Society as a whole continues to become more reliant on technology and that can also be said for the restaurant industry. Whether you are just starting your restaurant business or you are several years in, it is never too late to look at the benefits of automation and what software solutions may work best for …

Keep Reading

Franchising means audited financial statements

There may come a time when franchising your restaurant concept is attractive in growing the brand without having to take on additional debt or managing the entire restaurant operations yourself. This can help you grow more rapidly in new markets and turn your concept into a successful franchise brand. One requirement that comes with franchising …

Keep Reading

Restaurants eligible for tax free pandemic loss grants

Tucked into the American Rescue Plan Act signed into law March 11, 2021 is a $25 billion Restaurant Revitalization Fund (RRF) administered by the U.S. Small Business Administration (SBA). The RRF establishes tax free pandemic grants for eligible businesses suffering from COVID-19 related revenue loss. Don’t miss: Food delivery businesses and sales tax issues To …

Keep Reading

Food delivery businesses and sales tax issues

Not long after the decision in Wayfair gave states the ability to enact “economic nexus” laws, marketplace facilitator laws started to rise. Generally, a “marketplace facilitator” is a business that has a marketplace and contracts with third-party sellers to promote the sale of certain tangible property, digital goods and services through the marketplace. The well-known …

Keep Reading

Experienced an operating loss? Consider impairments of long lived assets.

The COVID-19 pandemic made 2020 a challenging year for restaurant operators. For many restaurants, the difficulties caused by the pandemic will require management to review the carrying amounts of long-lived assets for potential impairment. Impairment is the write-down of value for assets on your balance sheet. Annual review of asset carrying amounts is standard for …

Keep Reading

Restaurant audit prep tips

Here we go again! Another year, another audit. Maybe this time last year you were a little stressed trying to prepare paperwork and fulfilling requests for the audit team but have no fear because we have tips for you this year! Don’t miss: What restaurant owners need to know about the employee retention credit You …

Keep Reading

What restaurant owners need to know about the employee retention credit

The employee retention tax credit (ERC) is a refundable tax credit for employers who had business operations that were either fully or partially suspended by a COVID lockdown order and retained employees. The credit is equal to a certain percentage of wages paid after March 12, 2020. The $900 billion pandemic relief bill that was …

Keep Reading

Robots in the restaurant industry

Robots have been a staple in the manufacturing industry since the 1930s. Today we are now seeing robots in the restaurant industry to quicken and perfect the food preparation phase, mostly in fast food restaurants. Don’t miss: Summary of 2020 Side Dish blogs These robots used in the restaurant industry are any machine able to …

Keep Reading

Summary of 2020 Side Dish blogs

This year has been a crazy one, to say the least, for most people in the restaurant industry. We thought our readers may enjoy a summary of all our 2020 Side Dish blogs in one place in the event you want to go back and re-read one of them. Don’t miss: COVID-19 Relief Act Webinar …

Keep Reading

Financial planning for restaurant owners

You’ve heard before that 80-90% of restaurants fail within the first year. That’s simply not true. In fact, according to research by Philip Stark at UC Berkeley the number is really 17% in the first year. This goes to show that the average restaurateur really knows their stuff. A lot of planning goes into starting …

Keep Reading