Merchant Cash Advance Blog

Accurate accounting is at the foundation of small business success.  Conversely, the mismanagement of finances is the number one reason small businesses fail.  In fact, 32% of them fold due to poor management of financial activities.  Having a trustworthy and highly qualified bookkeeper to delegate financial responsibilities to will give you the best chance for success.  The management of restaurant finances is a full time job and is a worth the resources needed to make it function correctly.  The smallest error or lack of efficiency can cost restaurant owners dearly.  Advancements in technology have made managing funds easier but have brought about new security risks.  Cash flow is extremely important for small businesses to grow and operate.  Money matters affect all aspects of the restaurant business so we’ve developed a list of products, checks and balances necessary to financial health.

One way to increase restaurant revenue is to expand your focus beyond your brick and mortar location.  There are many entrepreneurs that are bringing their food to the masses without even having an established restaurant.  Owners should take notes from these businesses and look into different avenues to build brand awareness and attract a new customer base.  There are several options available to do so and your product and business model will determine which is best for you.  There are also things that can be done to expand your reach with little change to your overall business plan.  An initial investment will be needed to get things off the ground but the increased revenue and reach will positively affect your bottom line in the long run.  Here we’ve compiled 4 of the best ways to take your brand outside of your restaurant.

Technology has had a tremendous impact on small businesses and those in the food industry are no exception.  It is a tremendous challenge for owners to keep up with global trends while remaining authentic and true to their vision.  While there is no substitute for a quality product there are several technologies that small business owners can take advantage of to remain competitive.  Quality, health and convenience are the focus of food industry innovation.  There are certain trends that are now becoming standard and have grown to be expected by consumers.  As the owner of a small business your ability to lead your company into the future largely depends on your willingness to adapt.  Here we’ve outlined some of the food industry technology trends.

When it comes to increasing restaurant revenue the size of your average order represents a great opportunity.  Many restaurant owners place the onus of this metric solely on their servers, and while their ability as salespeople is important, there are several ways you can better equip them.  The flexibility of your menu plays a major role in your server’s aptitude for increasing average order.  Training and an in depth knowledge of your menu will of course help them make sales, but here we’ve identified some key changes you can make to your menu to give them the best chance for success.

While keeping your traditional dishes center stage, it may be a good idea to add a few winter favorites to heat up your menu.  Constantly evolving your offerings to meet the ever developing American pallet is essential to restaurant success.  Using seasonal menu items to test the waters and see what works for your customer base will help you to evolve while keeping costs lower.  It also provides an opportunity for your chefs to get creative and develop new signature items.  Here we’ve compiled a few of our favorite winter recipes to help increase restaurant revenue.