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How To Run A Restaurant

How To Run A Restaurant
knife and fork

    The restaurant business is a huge industry in the USA, growing each year because anyone with any idea about food or wine thinks they can do it. But why do 9 out of 10 restaurants fail?

    It’s a sexy idea–until you realize how hard starting a restaurant really is. Soon enough, questions will be flying like grains of sea salt. What permits do you need? What are your start-up costs? Where should you buy your produce? What corporate structure should you choose?

    Forbes.com have outlined 8 areas in the fundamentals of the restaurant biz:

    Legal Structure

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    You have five basic choices: a sole proprietorship, a partnership, a limited liability company or a corporation–either an S corporation or a C corporation. Restaurants–and most small businesses, for that matter–should choose an LLC structure.

    External Threats

    Most restaurants don’t offer much in the way of health benefits. Only 61% of employees in service industries such as restaurants are covered and most hourly paid restaurant workers don’t have access to employer-provided coverage–not exactly a draw for talented workers.

    Best Role Model

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    While there are some 660,000 independent restaurants in the U.S., each with its own menu, strategy and clientele, all have something to learn from Starbucks.

    Must-Have Technology

    Tasty fare will only get you so far without timely, accurate service. The latest generation of software-based, point-of-sale systems from Micros Systems and Radiant Systems can help you cater to even the fussiest of customers.

    Important Performance Metrics

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    Accounting profits are nice, but for budding restaurateurs, cash flow–which tracks the actual dollars moving in and out the door–is more critical. “If you don’t keep an eye on [cash flow], you realize later you’re in a hole and you can’t recover,” says Chris Yeo, owner of Straits Restaurants in San Francisco.

    Start-Up Costs

    After you snare the right permits, decide whether to start from scratch or fix up an existing eatery. Depending on how fancy your new place is, a blank-slate approach will set you back $100,000 to $300,000 for stuff like industrial cooking and ventilation equipment, refrigerators, freezers, tables, bar stools, shelving and counters with stations for cutting, heating and cooling.

    Permits

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    Depending on the location of the business, you will have to file articles of incorporation or organization. (Approval is quick.) Once established, you’ll be able to secure a Federal Tax Identification Number, which registers your business with the federal government so Uncle Sam can take his cut.

    Sourcing Supply

    Finding food and liquor suppliers is easy; sizing them up is trickier. Price is important, of course, but so are quality and safety.

    If you’re still interested, read on.

    The Fundamentals Of Running A Restaurant – [Forbes]

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    Craig Childs

    Craig is an editor and web developer who writes about happiness and motivation at Lifehack

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    Last Updated on September 28, 2020

    How To Study Effectively: 7 Simple Tips

    How To Study Effectively: 7 Simple Tips

    The brain is a tangled web of information. We don’t remember single facts, but instead we interlink everything by association. Anytime we experience a new event, our brains tie the sights, smells, sounds and our own impressions together into a new relationship.

    Our brain remembers things by repetition, association, visual imagery, and all five senses. By knowing a bit about how the brain works, we can become better learners, absorbing new information faster than ever.

    Here are some study tips to help get you started:

    1. Use Flashcards

    Our brains create engrained memories through repetition. The more times we hear, see, or repeat something to ourselves, the more likely we are to remember it.

    Flashcards can help you learn new subjects quickly and efficiently. Flashcards allow you to study anywhere at any time. Their portable nature lends them to quick study sessions on the bus, in traffic, at lunch, or in the doctor’s office. You can always whip out your flashcards for a quick 2 to 3 minute study session.

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    To create effective flashcards, you need to put one point on each flashcard. Don’t load up the entire card with information. That’s just overload. Instead, you should dedicate one concept to each card.

    One of the best ways to make flashcards is to put 1 question on the front and one answer on the back. This way, you can repeatedly quiz yourself into you have mastered any topic of your choice.

    Commit to reading through your flash cards at least 3 times a day and you will be amazed at how quickly you pick up new information.

    As Tony Robbins says,

    “Repetition is the mother of skill”.

    2. Create the Right Environment

    Often times, where you study can be just as important as how you study. For an optimum learning environment, you’ll want to find a nice spot that is fairly peaceful. Some people can’t stand a deafening silence, but you certainly don’t want to study near constant distractions.

    Find a spot that you can call your own, with plenty of room to spread out your stuff. Go there each time you study and you will find yourself adapting to a productive study schedule. When you study in the same place each time, you become more productive in that spot because you associate it with studying.

    3. Use Acronyms to Remember Information

    In your quest for knowledge, you may have once heard of an odd term called “mnemonics”. However, even if you haven’t heard of this word, you have certainly heard of its many applications. One of the most popular mnemonic examples is “Every Good Boy Does Fine”. This is an acronym used to help musicians and students to remember the notes on a treble clef stave.

    An acronym is simply an abbreviation formed using the intial letters of a word. These types of memory aids can help you to learn large quantities of information in a short period of time.

    4. Listen to Music

    Research has long shown that certain types of music help you to recall information. Information learned while listening to a particular song can often be remembered simply by “playing” the songs mentally in your head.

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    5. Rewrite Your Notes

    This can be done by hand or on the computer. However, you should keep in mind that writing by hand can often stimulate more neural activity than when writing on the computer.

    Everyone should study their notes at home but often times, simply re-reading them is too passive. Re-reading your notes can cause you to become disengaged and distracted.

    To get the most out of your study time, make sure that it is active. Rewriting your notes turns a passive study time into an active and engaging learning tool. You can begin using this technique by buying two notebooks for each of your classes. Dedicate one of the notebooks for making notes during each class. Dedicate the other notebook to rewriting your notes outside of class.

    6. Engage Your Emotions

    Emotions play a very important part in your memory. Think about it. The last time you went to a party, which people did you remember? The lady who made you laugh, the man who hurt your feelings, and the kid who went screaming through the halls are the ones you will remember. They are the ones who had an emotional impact.

    Fortunately, you can use the power of emotion in your own study sessions. Enhance your memory by using your five senses. Don’t just memorize facts. Don’t just see and hear the words in your mind. Create a vivid visual picture of what you are trying to learn.

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    For example, if you are trying to learn the many parts of a human cell, begin physically rotating the cell in your minds eye. Imagine what each part might feel like. Begin to take the cell apart piece by piece and then reconstruct it. Paint the human cell with vivid colors. Enlarge the cell in your mind’s eye so that it is now six feet tall and putting on your own personal comedy show. This visual and emotional mind play will help deeply encode information into your memory.

    7. Make Associations

    One of the best ways to learn new things is to relate what you want to learn with something you already know. This is known as association, and it is the mental glue that drives your brain.

    Have you ever listened to a song and been flooded by memories that were connected to it? Have you ever seen an old friend that triggered memories from childhood? This is the power of association.

    To maximize our mental powers, we must constantly be looking for ways to relate new information with old ideas and concepts that we are already familiar with.

    You can do this with the use of mindmapping. A mind map is used to diagram words, pictures, thoughts, and ideas into a an interconnected web of information. This simple practice will help you to connect everything you learn into a global network of knowledge that can be pulled from at any moment.

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    Learn more about mindmapping here: How to Mind Map to Visualize Your Thoughts (With Mind Map Examples)

    Featured photo credit: Alissa De Leva via unsplash.com

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