Tuesday, November 28, 2006

Expenses in Business

Lessons from the restaurant today:

1) Every little expenses can add up if you aren't careful. They will eventually all pile up. Before
you know it, your bank account can be very minimal.
2) Bookkeeping is the key--and you have to be consistant. Do not wait and wait and wait till you
are 3 months late.
3) You really want someone, at least one, you can trust to be in the restaurant at all time.
4) Cost control is everything. Food cost shouldn't exceed 30% of the revenue.

Sadly, the restaurant I work part-time will close down its full-service bar at the end of the year. As alcoholic as it sounds, I've always liked to have liqours and alcohols sold in the restaurant. I feel that this helps raising profits--owner gets to make more money, waitresses get more tips and whatsoever. Anyway, the owner has just sold his liquor license and yes, it makes me pretty disappointed to see it get away. The thing with a Thai restaurant is that: without a bar, the place just simply looks like any other plain Thai place with no ambience. With a bar, there is live music, there are always people hanging out--the plain Thai joint is just too boring, to me.

1 comment:

EVnoott said...

Hmm.. that explains why the rest. owner was so charily!