Restaurant labor cost is often one of the highest costs of owning and operating a restaurant. While it’s imperative to pay your employees well, it’s also important for your bottom line to manage and calculate this cost. The restaurant labor cost that businesses should aim for is generally between 29-33% of overall [...]
Bank accounts charge their customers fees for a multitude of reasons. Business accounts often have more fees attached to them due to the volume of the account, but are there bank charges for cash deposits? Account fees can add up quickly, so understanding what your bank may charge you for [...]
Convenience store robberies have increased in recent years, with research showing that these crimes account for 6% of all reported robberies. But just why are convenience stores easy targets for robbery? Increased robbery and crime rates mean that it’s imperative to prioritize convenience store security and safety. This article will highlight [...]
For any business, managing cash flow is imperative for efficiency and success. But how does a business ensure that its cash management is effective? Employing cash management automation practices can drastically improve how your business operates. Learning how to optimize cash handling practices can ensure that any business meets its cash control [...]
One of the largest expenses in retail or business is labor costs. These can add up quickly, often leading to increasing costs over time. Looking for ways to reduce labor costs can help reduce any added strain on your business’s bottom line. Labor costs, which should only be around 20-35% of a [...]
The retail world is constantly evolving to include more shopping opportunities for consumers. However, this unfortunately means that there are more opportunities for retail loss. Retail loss prevention is imperative for any store to implement to keep their inventory safe. In 2022, 81% of U.S. retail stores reported that their shrinkage increased. [...]
Are you looking to grow your business? Cash is the most important asset a business has, and effective business cash management is key to avoiding revenue loss, maximizing profits, and growing your company. There are a lot of business cash management services and systems available for companies, but choosing the [...]
Running a convenience store can be a lucrative and fulfilling business, but it's important to be aware of the ongoing operating expenses that come with it. By understanding these types of ongoing expenses upfront, you can plan accordingly and potentially save your money. If you’re seriously thinking about how to [...]
Robberies in the U.S. increased by 19% from 2021 to 2022 according to the Council on Criminal Justice (CCJ). Late hours and large amounts of cash on hand make convenience stores especially high risk for crime, so it’s no wonder that convenience store owners and managers are focused on store security. [...]
The pandemic created many disruptions to daily life, including how the retail industry functions. While retail had to once hire extra workers to help with the influx of business, there is now a retail labor shortage that doesn’t seem to want to go away. While there are many more industries [...]
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