A few words from NMRA CEO Carol Wight: Why is this 2018 election year important to your restaurant and why you are important to our collective voice? This election year is important because the landscape of our elected officials is drastically changing — think California. Elected officials don’t understand how to manage a bottom line […]
Understanding Your Financial Statement and Balance Sheet
Until you have a firm grasp on your restaurant’s financial statement and balance sheet, it will be all too easy to mistakenly think your business is doing much better than it really is. The 3 Components to Your Restaurant’s Financial Statement Despite its importance, the financial statement for your restaurant in New Mexico is fairly […]
Financial Planning: How To Project Revenue and Expenses
A lot of planning is required to open and operate a successful restaurant. You need to plan the exterior, interior, and overall motif. It goes without saying that you need to plan an incredible menu. However, just as important, you need to conduct thorough financial planning, too. If you don’t project your restaurant’s revenue and […]
4 Steps to Create a Realistic Budget for Your Restaurant
If your dream is to operate a successful restaurant in New Mexico, you’ll first need to learn how to create a realistic budget. Far too many restaurateurs have had to find out the hard way that their money is stretched way too thin. At that point, shutting down can seem inevitable. The only defense against […]
How to Prepare a Feasibility Study and Business Plan
Do you dream of opening the next great restaurant in New Mexico? Before you break ground, it’s important that you understand these two essential elements to this undertaking: Business plan and Feasibility study. Step 1: Conduct Your Feasibility Study Before you create a business plan for your restaurant in New Mexico, you need to conduct […]
Dining Out For a Cause: How Can Your Restaurant Give Back?
You work hard for your money and you want to put those hard-earned dollars to good use. When you dine out, why not pick an eatery that gives back? Restaurants are at the heart of their communities, and many restaurants select charities to donate to each month. Restaurants give back. Especially in times of need, […]
Restaurants Give Back – Ways to Support the Community
Restaurants can give back to the community in unique ways. Patronage and customer loyalty is based on trust. Customers trust that they will get quality service and good food when they dine out. Restaurants trust that their community will keep coming back for more. Giving back to the community your restaurant feeds will in turn […]
Tip Pooling Rules… What’s the big deal?
Finally a decision on tip pooling! Restaurants have the direction we need to move forward in sharing tips with the heart-of-the-house (HOH) employees (kitchen, bussers and dishwashers) – under certain circumstances. For restaurants this clarification has been long awaited. In the last few years, there have been many lawsuits and differing judgements making it difficult […]
.05 Making Criminals of Good Citizens
.05 Making Criminals of Good Citizens If you live in New Mexico you know drunk driving is a problem. It seems that headlines consistently point to drunk drivers with multiple DWI charges killing someone while driving drunk for the 8th time. Most of these offenders are well over the legal blood-alcohol content (BAC) of .08. […]
NMRA Wants You To Be Ready For Your Health Inspection
9 Tips To Prepare for Your Health Inspection NMRA says the proper strategy for a successful health inspection is to be ready at all times. To stay ahead of the game, managers can conduct weekly, in-house inspections. Here are nine tips to help your team prepare: Use the same form – or a similar form […]