I spend a lot of time comparing various supplier’ prices for the same product. Why? In this technologically advanced age, you would think restaurant owners would have the ability to gather cost-comparison information … [Read more...]
Creating a System for Restaurant Success
November 28, 2011 By Leave a Comment
Mike discusses how to achieve greater success by digging into the details of your business and creating a system that employees can follow. … [Read more...]
What is Simple Food Costing and Why is it Important?
November 7, 2011 By Leave a Comment
Simple Food Costing Tool is like a heart monitor for your business. Sometimes you’re not aware of issues until it’s too late. … [Read more...]
What The Chains Know That You Need To Know
November 7, 2011 By Leave a Comment
What do the chains know that you need to know? They know that their menu is their marketing plan. They know that their menu prices align with their cost to produce a profit. … [Read more...]
Budgeting: Your Roadmap to Cashflow
November 7, 2011 By Leave a Comment
You wouldn’t get on a plane if your weren’t comfortable that the pilot budgeted the amount of fuel needed for the trip? You wouldn’t enter into a long term lease in a strip mall for ten years … [Read more...]
Bank Loan Assistance and State Unemployment Tax Rates
November 7, 2011 By Leave a Comment
Question: I need a loan to purchase equipment and for cost to be incurred for leasehold improvements at a new location for my restaurant. … [Read more...]
Double Check Your Numbers with Outside Sources
November 7, 2011 By Leave a Comment
Question: How do I ensure my sales figures per my point of sale make it to the bank? Answer: It’s called internal control. … [Read more...]
Professional Ethics and Savings Taxes Double Edge Sword
November 7, 2011 By Leave a Comment
Question: Every restaurateur hides some cash from operations so why is my CPA so shocked when he learns this side of my business? … [Read more...]
Family Businesses-Commingling of Funds?
November 7, 2011 By Leave a Comment
I recently was engaged to represent a restaurant owner against the Internal Revenue Service who operates five restaurants each in a separate S Corporation … [Read more...]
Second Opinion and Credit Card Fees
November 7, 2011 By Leave a Comment
Question: My current accountant just does not give me restaurant advice and I feel I am missing out on something. Without hurting his feelings how do I get a second opinion? … [Read more...]
Michael Rasmussen serves dozens
of restaurant clients from single unit owners to national franchises.
He writes extensively on profitability issues in national
restaurant trade magazines.
