As a retailer, you know that profit margins are important. But what is the average profit margin on retail? We take a look at the data to find out. For our business, we need to make sure that we’re always aware of our margins. After all, it’s one of the key indicators of how well […]
The importance of customer service is often overlooked for restaurant success. However, good customer service can significantly impact the overall restaurant experience. It turns out that there are some things all customers want in a restaurant. These include delicious food, attentive staff, and the ambiance of an enjoyable experience. Find out what makes for a […]
When your inventory is low, it’s hard to keep the cash flowing and happy customers. This means that you need to be smart about managing your stock for business not to die. Knowing your inventory days on hand calculation is very important. It tells you if any changes need to be made to stay afloat. […]
Balancing your cash register is not the same as balancing a checkbook. In this article, you will know the strategies and the fundamentals to balance the till. Balancing your cash drawer should be an essential part of your routine, like unlocking the door to get into work. This is a huge mistake if you’re accustomed to […]
Do you want to know how to use a POS system? The transition can be difficult for someone who has never used a cash register before or an experienced owner transitioning from traditional electronic logs to touchscreen ones. With a point of sale (POS) system, it is worth investing time to learn how it works. […]
When you’re starting a restaurant, there are many costs to consider. In addition to your commercial space lease and the licensing permits required for opening in that location, marketing expenses will also come into play. You need a restaurant equipment list, You want to make sure that your servers, hosts, and kitchen staff have the tools […]
Why is the sell-through rate significant? Retailers need to forecast demand to know how much they should purchase. Buying too much inventory will cause a retailer to have more stock than they need, while not purchasing enough could lose money because of lost sales. It is essential to maintain a stock of merchandise because retailers […]
The annual tax season is upon us! This article will discuss what you should know about tax preparation for small businesses in the United States and Canada. Are you ready to fill out all the paperwork and forms involved? Important Income Tax Season Deadlines American businesses When it comes to tax preparation for small […]
The modern workforce has many different types of jobs. Some businesses don’t have the traditional 40 hours per week, 9 to 5 work schedule. Instead, they implement a rotating schedule. If you own a business outside of the regular work hours, such as restaurants or bars, it can be challenging to keep your employees happy. […]
Any company that has been around for more than ten years and has seen a significant increase in revenue from introducing its loyalty program is likely running an online shopping website. Do you want to know the history of Amazon Prime? Jeff Bezos created Amazon Prime to motivate customers. It helps drive consumption by providing […]
