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Twisted Root Burger Co. Improves Store-Level Profitably After Using Restaurant365

Twisted Root Burger Co., an American burger franchise restaurant, has implemented Restaurant365 in each of its 14 locations. JJ Pledger, Chief Bean Counter, has seen a significant improvement to their store level profitability. “We review the controllable store-level financials we obtain from Restaurant365 with our store managers immediately after the end of each period.   We are able to identify specific areas to focus on with them.  This timely direction we are able to provide to our managers is improving our store-level profitability and we like that.”

The implementation of Restaurant365 at Twisted Root eliminated many of the tasks the team was having to do when used QuickBooks. “The Restaurant365 integration with our POS is solid.  It isn’t something we have to babysit or worry about.  Daily sales journal entries and labor accrual journal entries are automatically made for us.  It’s a significant time saver.”

Just as a sharp knife in a kitchen makes a prep-chef more productive, Restaurant365 is effectively cutting unwanted financial waste and is saving the Twisted Root back office team time. http://twistedrootburgerco.com/

 

Morgan visits Blaze

3 Forgotten Ways to Serve Your Customers

Our company (Restaurant365) makes restaurant accounting software for multi-unit enterprises.  Whenever I tell that to people who ask me what I do, that is usually the end of the topic of conversation.  To some it is a boring type of work but we love it and we love the customers we work with.  We recently came up with three ways to go above and beyond and show our customers that we appreciate them.

First – Patronize their stores.  I recently took my family and friends to Blaze Fast Fired Pizza who is one of our customers and I learned some new things about their delivery model and at the same time brought in a few new faces for them.

Second – Ask for their feedback and input and actually inventory it and discuss it as a team.

Third – Try to help them in ways other than the service you provide.

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New Feature: Dynamics GP like SmartLists for Restaurants

Easily being able to find data you are looking for in your restaurant accounting software is one of the hallmarks of Restaurant365.  The new list features in Restaurant365 are very similar to that of the way Dynamics GP SmartLists work.  You can:

  • Multi-sort by column
  • Multi-select by value
  • Drag and Drop columns to new positions
  • Dynamically resize columns
  • Save favorite views
  • Export results directly to Excel
  • Add new columns from fields in the database
  • Drill down directly to source records from search results
  • . . . and much more – all in a browser interface!

Here is a quick screen shot of the new lists.  Contact Restaurant365 today (sales@restaurant365.net)  to learn more about your organization can use this powerful tool.

Vendor List Screen Shot

 

2015 could be a strong year for restaurants

We recently attended the Restaurant Finance & Development Conference, held in Las Vegas last week.  This annual gathering brings together operators, investors, lenders, and restaurant technology solutions, like Restaurant365.  There was a buzz of optimism at the conference by the attendees looking to invest in new technology and financing options, to help expand and build new units.

2015 Happy New Year“The past few years have required good operators to get better — and they have,” said Trey Brown, senior managing director at GE Capital, Franchise Finance. “The people left standing are, almost without question, the best of the best. They’re operating profitable stores. They’re positive and upbeat.” Restaurant operators and owners with the right financial and management tools take a measured approach to move from good to great.  They know the key areas in the business to focus in on.

Falling gas prices will also help drive restaurant sales.  The national average price of gas has dropped for 46 consecutive days, according to AAA, with a gallon of gas 30 cents lower than a month ago, and 20 cents cheaper than it was a year ago. “It’s putting extra income directly into the hands of lower and middle income consumers. Lower gas prices are like an instant tax cut. If gas prices stay low, 2015 could be the happiest year since 2007,” said John Barone, president of Market Vision Inc.

Restaurant365 is excited to be part of this industry, helping restaurant companies better manage operations, accounting, franchising and catering departments, all on one cloud-based platform.

Looking forward to a strong 2015.

 

 

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Restaurant same-store sales up last month… were yours?

Sales rose 2.9 percent on average last month at restaurant locations, according to the latest NRN-MillerPulse report. Hopefully, your restaurant locations did as well, if not better! My question to you is, how did your sales compare? And more importantly, were you able to track this over the course of the month, and make adjustments along the way?

With Restaurant365, each and every day you can see exactly how your restaurant locations are progressing on a daily, weekly and period basis, and in comparison to the same day, same week and same period of the prior year. You can also see your forecasted sales and labor for each location, compared to actuals, on a daily basis!  Restaurant365 offers a whole set of great operational and forecasting reports.

“Sales trends have been consistent and strong across the industry over the past eight to nine weeks, which bodes well for the future,” said Larry Miller, founder of the monthly MillerPulse report. Hopefully, your locations will have promising growth in the coming months.

MillerPulse results are based on a monthly survey of operators averaging more than $40 billion in industry sales, representing all regions of the country and across the quick-service, casual-dining and fine-dining segments. More info at the MillerPulse website.

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Two New Reports – Item Cost Verification & Menu Cost Breakout

Restaurant365 has been busy lately improving our Reports Gallery. Our philosophy on reporting is to help our clients:

  1. Obtain reports easily,
  2. Know if the information on the report is good or bad,
  3. And know what to do with this information.

With this in mind, Restaurant365 is constantly striving to help our clients obtain the vital information so they can easily and effectively make educated decisions in their businesses. Two new reports that help them do that are our Item Cost Verification report and our Menu Cost Breakdown.

Item Price Verification:

The Item Cost Verification report is to make sure the price you are paying for your materials is consistent across all of your locations and in accordance with the contracted price for that item & vendor. This report will allow you to see, at a high level, the variance of cost (if any) of your goods across all of your locations, and help you focus your attention where it is needed most.

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Menu Cost Breakdown:

This aesthetically pleasing report displays graphically the cost of each item category in a menu item, grouping the menu items by their categories (i.e. all burritos, all tacos, all salads. Etc.).

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Contact us to see the rest of our Reports Gallery. All reports generated within Restaurant365 are restaurant specific. Stop spending time reconciling data between systems and manually preparing those reports. Restaurant365 is designed to have you get your reports easily and help you have a more productive back office.

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What would you do if you had 30% more time available in your work week?

What would you do if you had 30% more time to get things done?

Restaurant365 has done some extensive research in today’s restaurant industry and have found some interesting statistics. We have seen that the back office staff of restaurant companies are spending 30% of their time on 3 things:

  1. Reconciling data between two systems (or Excel spreadsheets)
  2. Manually preparing restaurant specific reports (cutting and pasting in Excel each day/ week/ period)
  3. Re-keying data that was already keyed in by another person into another system within the organization (i.e. inventory counts, invoices, paid out details, payroll accruals, etc.)

These three things consume 30% or more time in the average back office of a restaurant company. Restaurant365 is geared to solve these issues, by automating processes, producing restaurant specific reports at the click of a button, and effectively implementing your data into one complete system.

Think of all the tasks you could solve if you had 30% more time! Without doing these 3 tedious tasks, you will be able to better focus on the more important aspects of your business and be more productive. We don’t want you to spend all day in Restaurant365. We want you to complete your tasks and spend more time on other ways to improve your business, not re-keying data or manually preparing reports.

“We have doubled the number of our stores (going from 5 to 10) without adding a single person to our accounting and finance team thanks to Restaurant365. Among many benefits we get from it, the software has made us remarkably more efficient administratively.”

Arthur Li
Head of Business Finance, Altamarea Group

Call us to see a demonstration of our product and ask us how we can make your back office more productive.

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Restaurant365 Partners with Fintech

Restaurant365 is happy to announce our partnership with Fintech. With this new integration, we are proud to offer an enhanced level of service to our customers through the nationwide leader in providing alcohol data and payments in the US.  Welcome Fintech!

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Fintech, a U.S. Chamber of Commerce Best Business of the Year winner located in Tampa, Florida, provides electronic data and payments to the alcohol industry, eliminating the need to pay alcohol purchases by cash, check, or money order and simplifying data into actionable reporting that helps businesses make smarter purchases. Fintech is the only company approved for EFT in all 50 states and now works with more than 2,300 distributors to serve over 300,000 relationships nationwide. Fintech processes over 17.2 million alcohol invoices and $14.4 billion in payments annually.