Petyr Baelish – you need to be a master of coin.
Littlefinger is the Master of Coin at Kings Landing. He is responsible for funding the expenses of Robert Baratheon. As such, it is his job to account for the money that is coming in and the where the money is going.
If you do not know what money you have coming in and what money is going out, you will probably be out of business very soon. Money is oxygen to a business and too many restaurant owners do not have a tight grip on their finances. Many brilliant chefs have shown that talent in the kitchen does not make up for lack of talent with the book keeping and finances. This is easy to fix, with a book keeper or an accountant, so that you can focus on running your business, but you need the financial literacy to understand the books and more important understand the levers that control your profit. This flows into areas like menu engineering and food costing.
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Is Poor SEO Killing Your Restaurant?
Too many times we see customers with websites that are costing restaurants thousands of dollars every month through poor design, poor messaging and poor SEO. If your website could be improved to bring in 200 extra visits per month and just 10% of those made a booking, and each booking was for 2.5 seats on average at $50 a seat, you would have an extra $2,500 in revenue a month. A 30% food cost, that is $1,750 in profit extra a month. This ignores those customers coming back as regulars – which is more profit.
Remember, if these customers aren’t finding your Restaurant, they are finding your competitors.
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