The Tip Share

Discover the power of a Tip Pooling Calculator, designed to streamline fair distribution of tips among restaurant employees.   Using a Tip Pooling Calculator ensures consistency and fairness in dividing tips, reducing manual efforts and potential errors. Customize the calculator's formula to match your specific needs, whether it's using a point-based system or even distribution. Managers c...

Discover the Power of Balance Sheets for Restaurant Success! Learn how to create a balance sheet for your restaurant business. This essential financial tool provides insights into your fiscal standing, guiding your path to stability and growth. In this episode we cover everything you need to know about creating a balance sheet, key components like assets, liabilities, equity, and more! Follow our...

Profit margin is a key indicator of restaurant financial health. It's a measure of how much money your restaurant makes above its costs, expressed as a percentage. In this episode, we'll show you how to calculate profit margin for your restaurant using a simple formula. As a bonus, we'll also share some proven tips for improving your profit margin. Read the full Blog Post: https://rasi...

Are you tired of wasting money on produce that goes bad before you can use it? Do you spend hours every week ordering produce from different suppliers?    In this episode, we'll show you how to create a restaurant produce ordering guide that will save you time and money. We'll cover everything from how to assess your needs to how to find reliable suppliers. Keep watching to learn about all...

Ready to elevate your restaurant's summer events and promotions? Uncover expert strategies to captivate your target audience, leverage social media, and implement budget-friendly ideas. From collaborating with neighboring establishments to crafting mouthwatering seasonal menus and refreshing cocktails. Learn how to track results, set measurable goals, and utilize customer feedback for optimal...

In this episode, we discuss the importance of proper produce storage in a restaurant. We cover factors that affect freshness, specific produce storage tips, and best practices for produce storage. Plus, we learn how to select high-quality produce. Listen to learn all the tips and tricks of freshness! Read the full Blog Post: https://rasiusa.com/blog/restaurant-produce-storage-guide/ Watch the full...

In California, restaurants are responsible for paying sales tax to the state on taxable items. What makes a transaction taxable? The answer gets a little complicated for restaurants. The key distinctions are whether the food is hot or cold, and whether it is intended to be consumed on the premises. In this episode, we'll show you how to calculate restaurant taxes in California, discuss additio...

Keeping up with State and Local taxation laws and compliance can feel overwhelming and confusing.  As a restaurant owner, ensuring accurate and timely tax payments is critical to avoiding unnecessary penalties and maintaining licensing.  Understanding tax types, what they mean to your business and how investing in tax professionals to assist with calculation, remittance and payment can help reduce...

Do you have questions about how to handle tips for your restaurant staff, tip reporting, and compliance? In this episode, we will discuss everything you need to know about tips in a restaurant. From withholding requirements to the importance of proper reporting, we'll cover it all. Tips are often regarded as under-the-table income, but they are actually considered taxable income to the recipie...

Are you ready to fulfill your dream of owning a restaurant? It's an exciting venture, but before you dive in, there are critical financial factors you need to consider. In this episode, we're going to show you everything you need to know before buying a restaurant and how to assess its financial health. We'll be going through essential financial documents like the Profit and Loss State...

If you're running a restaurant, managing payroll can be time-consuming and challenging. But with payroll management technology, you can streamline the entire process, saving time and reducing errors. In this episode, we'll explore the benefits of using payroll management technology in your restaurant, including improved payroll compliance, flexible paydays and cycles, and online employee a...

Discover the basics of calculating your restaurant payroll percentage and why it's crucial for the health of your operation. In this episode, we'll discuss how modern technology and sound management practices can improve it over time. Listen to the episode to learn all things payroll percentage including: How to identify areas of improvement How to reduce payroll costs with best practices...

Running a restaurant requires adhering to best practices and guidelines for various processes, including supply chain optimization, kitchen procedures, and payroll. While most restaurateurs are not payroll experts, it is essential to ensure compliance and accurate tax reporting to avoid penalties and legal issues. In this podcast we dive into the essential restaurant payroll checklist items and la...

Restaurant owners and operators often approach payroll with apprehension. In this post, we'll show you that payroll does not have to be difficult. With the right, hospitality-specific, payroll processor, simplifying the payroll process while paying your team members timely and accurately is, in fact, a realistic goal for every restaurant. Don't let your restaurant payroll stress you out – with the...

Looking for a guide on when and how to switch your restaurant payroll software? Look no further! Your restaurant payroll software is a crucial investment for your business, and outdated technology or a rapidly changing workforce can make it necessary to switch to a new solution. But how do you navigate this process? In this podcast, we'll cover the reasons why you might need to switch your softwar...

Discover the essential guide to securing a loan for your restaurant business or startup! In this episode of The Tip Share, we'll explore the different types of restaurant loans available, including small business loans, business lines of credit, traditional commercial loans, and business credit cards. You'll learn about the prerequisites to consider before applying for a loan, including your credi...

When it comes to restaurant data, most operators record and track basic sales data, such as tickets, ticket size, tips, and nightly totals for food and beverage. They may be doing this manually, or directly through their point of sale (POS) system.   Your average restaurant then takes this basic sales data, copies it into spreadsheets, and hands it over to their accountant to calculate c...

Like many business trends, technology for restaurants is largely driven by demand. And this demand originates with how, when, and where your customers eat. Technology is an important and integral part of every restaurant - it can assist you achieve your goals, improve your business operations, and be more successful. Learn which types of technology in restaurants are here to stay! Read the full Bl...

What’s the one key ingredient – figuratively speaking – of your restaurant’s ultimate success? Some restaurant or bar owners think it’s all about location, location, location. Others may lean toward a loyal customer base. And don’t forget about seasonal swings and capitalizing on the “perfect timing” aspect of sales. All valid “ingredients,” for sure. But have you considered the importance of menu...

Inventory management enables restaurants to track existing product levels (food, supplies, etc.), and also know when to reorder. And it’s certainly one of the more “tricky” aspects of day-to-day restaurant management. Managing restaurant inventory is the ultimate balancing act; your business requires a base level of ingredients and supplies to account for regular operations, but not too much. Read...

If you own a restaurant, you’re aware of how hectic it was just getting up and running. And if you’ve already acquired food & beverage licenses and permits, you know how daunting the process can be. Getting all of your restaurant permits and licenses in order is no easy task. Plus, it’s rarely a one-and-done scenario; thanks to ever-changing regulations, renewals (or, many times, entirely new...

Every restaurant operator has a multitude of responsibilities. From profit optimization to menu engineering, there’s never a shortage of factors to contend with.   Thanks to recent spikes in inflation and rising costs, food cost percentage is suddenly back as a hot topic — and for good reason. By even the most conservative estimates, food costs have spiked around 20% for some restaurants – ev...

If you manage a restaurant, you already know how important shift scheduling is. But are your shift schedules working in the best interest of your staff and entire restaurant? Given the unique demands of scheduling shifts – after all, less than half of U.S. restaurant workers are full-time employees – it helps to understand how this underrated aspect of managing your restaurant can make or break yo...

The recipe for a great restaurant manager starts with this foundation: managing restaurant staff. Whether you're thinking about accepting a promotion to a management position, or if you're already a manager and would like to learn innovative ways on how to manage restaurant staff, the following restaurant management tips can help anyone lead, inspire, and ensure the entire operation runs efficient...

Every well run organization starts at the top. Sometimes, managers are brought in from another restaurant. And more often than you think, regular employees are promoted to manager. But which restaurant management skills separate the good leaders from the great ones? What’s more important – organization or people skills? And what tools or resources can help enhance the most important restaurant man...