blog updates

Follow KSM
Search

KSM blog

Restaurant

‘Grow Your Restaurant’ Podcast: Patrick Tamm of the Indiana Restaurant Association

Posted 12:00 PM by
Patrick Tamm, president and CEO of the Indiana Restaurant & Lodging Association, joins us to discuss a variety of issues affecting restaurant profitability, and he explains how restaurant associations are working to impact these issues.
link
| comments (0)

‘Grow Your Restaurant’ Podcast: Andy Marshall of Puckett’s Grocery and Restaurant

Posted 12:00 PM by
Andy Marshall, owner of Puckett’s Grocery and Restaurant in Tennessee, joins us to discuss how Puckett’s achieves sales at more than twice the rate of the top quartile of restaurants, based on the National Restaurant Association's 2013-2014 Restaurant Operations Report.
link
| comments (0)

4 Ways for Restaurants to Control Food Costs

Posted 12:00 PM by
How does your food cost stack up against other restaurant operations? It is not uncommon for us to see a 5% difference in food cost between high-preforming operations and under-performing operations. The question is, what are the effective operations doing that the under performers are not?
link
| comments (0)

Highlights from NRA Show 2014

Posted 12:00 PM by
Jim White of Katz, Sapper & Miller’s Restaurant Services Group recently attended NRA Show 2014, hosted by the National Restaurant Association, from May 17-20 in Chicago, Ill. Breakout sessions offered tips, tools and expert advice on a variety of subjects, while the show floor showcased the latest technology and trends in the restaurant industry.
link
| comments (0)

How to Reconcile the Difference between Gross Receipts and Receipt Reported on Form 1099-K

Posted 7:56 PM by
With the start of tax-filing season, restaurant owners may have received (or should soon be receiving) IRS Form 1099-Ks from most of the Payment Processors they used during 2013. The Form 1099-K reports the gross proceeds received from Payment Processors, over the course of the year, which includes credit card companies, PayPal, Square, and similar organizations.
link
| comments (0)

Maximize the Value of Your Business Through an Exit Strategy

Posted 7:24 PM by
Every business owner will eventually transfer their business interest. In some cases the interest will be transferred as part of a planned exit strategy. In other cases the transfer will be “forced” due to a significant change in the life of the owner such as death, disability or divorce. The important point to note is that it is not a matter of IF your business interest will be sold, it is a matter of when and what will trigger the sale.
link
| comments (1)

Time Is Money

Posted 3:38 AM by
According to RestaurantOwner.com there is a direct correlation between the length of time it takes an operator to get his or her financial reports and a restaurant’s profitability. In this article, RestaurantOwner.com provides six ideas for speeding up the process of creating financial reports.
link
| comments (0)

New Method for Raising Capital

Posted 4:37 PM by
The SEC has enacted a new rule that lifts the ban on general solicitations for private offerings. What this means is that private companies can now market their securities to the general public via television, magazines and the Internet. Rule 506(c) will open up a larger pool of potential investors for the growing restaurant – including their own customers.
link
| comments (0)

Year-End Tax Planning: 10 Ideas for the Restaurant Owner/Operator

Posted 5:35 AM by
As a restaurant owner/operator, you work hard to generate a profit each and every year. Unfortunately, as profits grow so does your potential tax liability. While a profitable operation will always incur tax at some level, year-end tax planning is an effective way to minimize your total tax bill. Here are 10 strategies for minimizing your 2013 year tax liability.
link
| comments (0)

Sales Tax Treatment of Take-and-Bake Pizzas

Posted 1:44 PM by
In her Oct. 14, 2013 article, Cara Griffith of Forbes magazine provides an update on the debate regarding the sales tax treatment of take-and-bake pizzas. Griffith reports that the Sales Tax Governing Board Compliance Review and Interpretations Committee has been asked to provide an opinion on the question of whether a take-and-bake pizza meets the definition of prepared food.
link
| comments (0)