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  • New Global Directors Join the 2018-2019 HFTP Board

    The HFTP 2018-2019 Global Board of Directors was installed during the association's 2018 Annual Convention and introduces new directors Toni Bau, Carson Booth, CHTP and Mark Fancourt. These extensive director profiles give insight into the distinguished professions and personal goals of HFTP's newest association leaders.

  • Members Only: 2018 HFTP Compensation and Benefits Report

    By Tanya Venegas, MBA, MHM, CHIA. Results to the biannual survey conducted by Hospitality Financial and Technology Professionals (HFTP). Information includes data on compensation and benefits trends for finance and technology professionals in the club and lodging industries.

  • Primary Club Metrics

    Survey results identify which metrics are most often used to determine performance. By Agnes DeFranco, Ed.D., CHAE; Tanya Venegas, MBA, MHM, CHIA; and Amanda Belarmino

  • Introducing 'Your HFTP': An Updated Online Interface for HFTP Members

    HFTP is excited to announce the newly updated “Your HFTP” online account portal. “Your HFTP” allows you to successfully manage your HFTP membership online. This refreshed online interface looks and feels just like the HFTP website and (better yet) is mobile-responsive.

Cut Food Cost with Two Easy Systems

The Restaurant Expert·17 January 2019
How would you like to cut food cost with two easy steps? These two “clipboard systems”- EASY – stop mistakes coming out of your kitchen. They virtually eliminate theft in your restaurant. One is a key item report. The other is a waste sheet. Watch this video to learn exactly what I mean or continue reading below.

Is It Gross or Net Revenue

The Restaurant Expert·15 January 2019
Have you ever wondered if you should be using gross or net revenue? What is the difference between gross and net revenue or gross and net sales? Why you should use one over the other in your restaurant? Watch this video to learn what goes into each one and which one you should use in your restaurant, or continue reading below.

Running Your Restaurant by the Numbers

The Restaurant Expert·11 January 2019
This restaurant industry podcast is an audio version of SMART Systems Insider, a video magazine from TheRetaurantExpert.com, is your fast track to lower food costs, lower labor costs, an accountable management team and a team of reliable restaurant employees. It’s an hour-long (or so) masterclass with restaurant industry experts. Use what you learn here to thrive in the sea of chain restaurants. Make more money, get your life back and have managers know what their job is.

Forecasting Restaurant Sales Made Easy

The Restaurant Expert· 8 January 2019
If forecasting restaurant sales seems hard to do in your restaurant, know you’re not alone. It isn’t as straight forward for today’s modern restaurant as it used to be. There are so many things that can affect your restaurant sales forecast from the economy to diners’ inconsistent habits. There are rising prices you pay and that you charge your guests along with changes in marketing. Watch this video to learn how forecasting restaurant sales can be easy.

Why Restaurant Budgeting Is So Important

The Restaurant Expert· 3 January 2019
If you run your restaurant by gut and you’re not using restaurant budgeting, I urge you to STOP. You can’t do it anymore – the risk is just too great. In the video below I discuss why restaurant budgeting is a must.

Recipe Costing Software Cuts Food Cost

The Restaurant Expert·27 December 2018
I can say recipe costing software cuts food cost, but first you have to agree that recipe costing cards are important. Why are they important? Why do you need to have them? Especially when your chef seems to have it handled and generally knows what the costs are, why are they so important? Watch this video learn what recipe costing cards can do for you and how recipe costing software can help you lower food cost.

Integrate Back Office Software to Maximize POS System

The Restaurant Expert·18 December 2018
In this article (and video below), I explain why you should really integrate back office software to maximize a POS System.

How Inventory Software Helps Lower Food Cost

The Restaurant Expert·13 December 2018
Have you ever wondered how inventory software helps lower food cost? Taking inventory sucks! I get it. However, it doesn’t have to be a dreaded task and the benefits to your business are huge. Watch this video to learn how inventory software can help lower food cost and get you on track for regular inventories.

Most Popular Restaurant Articles in 2018

The Restaurant Expert·11 December 2018
The results are in and our most popular restaurant articles in 2018 are listed below. This blog is a resource for independent restaurant owners, and we appreciate the time you spend reading it and sharing the content with your team.

When to Hire a Restaurant Consultant

The Restaurant Expert·29 November 2018
I definitely have some advice on when to hire a restaurant consultant and what a restaurant consultant can do for your restaurant. I cover it all in the video below, or you can read the summary below the video. If you’ve ever wondered if it is the right time to hire a restaurant consultant, consider this advice.

Why Restaurant Systems Are Important

The Restaurant Expert· 1 November 2018
I’m the systems guy, and along with teaching systems, I teach why restaurant systems are important. Every restaurant owner, no matter how much they’re making or not making, is looking for ways to lower food and labor cost and to hold their employees/managers accountable.

How to Charge for Free Food in a Restaurant

The Restaurant Expert·25 October 2018
Have you ever wondered how how to charge for free food in a restaurant? Do you offer something for free in your restaurant? For example, chips and salsa? Or bread and butter? Or even condiments? Any product that leaves your shelves that you don’t get money for still affects your food cost. Watch this video for a full explanation of how to charge for free food in a restaurant.

Why Restaurant Systems Fail

The Restaurant Expert·18 October 2018
I meet so many restaurant owners who really want to make systems work in their restaurant, yet I see failure with systems all the time. So, how can a restaurant systems guy admit that sometimes restaurant systems fail? Because I know why restaurant systems fail and it has nothing to do with the systems.

What Does a Restaurant Coach Do?

The Restaurant Expert·15 October 2018
What does a restaurant coach do? What’s the difference between a restaurant coach and a restaurant consultant? To me, the distinction is simple.

Is Paper Cost Part of Recipe Cost

The Restaurant Expert·11 October 2018
Paper cost is a real restaurant cost. Have you ever wondered if the cost of your paper products belong in a recipe costing card? After all, if it could be part of the recipe and its presentation, shouldn’t it? First, I get asked this question all the time, especially when I’m teaching a session on recipe costing cards.

Don't Mix Labor Cost Controls and Food Cost Controls

The Restaurant Expert· 4 October 2018
Labor cost controls are an essential part of a healthy profit margin for your restaurant. To do this, have you ever heard that you should put labor cost into your recipe costing card? Do you add labor cost to your recipe costing cards? Watch this video for a different approach to labor cost controls and why it is better for your restaurant.

A 55 Restaurant Prime Cost Percentage is Possible

The Restaurant Expert·27 September 2018
The core of our work is to get restaurant owners to a 55 percent restaurant prime cost. As a refresher, the restaurant prime cost percentage consists of the two main controllable costs in your business: cost of goods sold (COGS) and total labor cost (payroll expense). Why 55 percent? Because it leaves you with 45 percent of your sales to cover your operating expenses and still have room for profit.

How Restaurant Industry Software Cuts Food Cost

The Restaurant Expert·20 September 2018
What can restaurant industry software do to help you reduce your food cost? I used to be a spreadsheet geek, and I think that’s what made creating a specialized restaurant industry software for independent operators so much fun – there’s no need to be a spreadsheet geek! Now you can use software to document and automate your restaurant systems. This puts controls in place that allow you to make adjustments to save money and it saves you time so you can focus on other ways to save in the restaurant.

Two Restaurant Business Myths Busted

The Restaurant Expert·13 September 2018
Has your gut instinct ever told you what your chef is telling you about food cost isn’t right? How about a general manager guessing what menu items should cost based on a formula? There are many restaurant business myths in the restaurant industry when it comes to figuring out food cost. Watch this video to learn two that drive me crazy and how I bust those food costing myths.

Why Are Recipe Costing Cards Important?

The Restaurant Expert· 6 September 2018
Ever wonder why are recipe costing cards important? Why you have to do them? After all, you generally know what your protein costs. You generally know what the rice costs. You think you can price these things because you have it all stored in your head. Well, let me tell you, if you generally know what things cost, you generally aren’t making any money. You’re not dealing with dollars here – you’re dealing with pennies, and you have to make every penny count. In this video I explain why recipe costing cards are important.

25 Tips for Restaurant Server Training

The Restaurant Expert·30 August 2018
FitSmallBusiness.com recently reached out to gather tips for the best restaurant server training. The advice is compiled in this article and includes a tip from me.

How to Find Your Actual Food Cost

The Restaurant Expert·30 August 2018
Actual food cost is an important number to know because it’s one of the numbers you need to know to find your target food cost. In the most basic terms, food cost represents how much food left your shelves divided by the amount of gross food sales you did for that period, before discounts are removed and not including sales taxes.

Reduce Food Cost 2-3% Overnight

The Restaurant Expert·16 August 2018
How would you like to reduce food cost 2-3 points overnight? How would you like to overcome rising food prices in seconds? Watch this video to learn how to reduce your food cost virtually overnight.

3-Strikes Approach to Managing Restaurant Employees

The Restaurant Expert·10 August 2018
Managing restaurant employees is one of the biggest complaints I hear from restaurant owners (and managers!). Are you like them and tired of walking into your restaurant and wondering how it’s possible that everyone that works for you is an idiot? When is it the right time to teach and when is it the right time to discipline?
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Why Company Culture Matters

The Restaurant Expert· 2 August 2018
Company culture matters. Why? Company culture has a pretty big role in determining your success.
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Basic COGS Calculation

The Restaurant Expert·26 July 2018
Have you ever wondered what the actual cost of goods sold calculation is for your restaurant? It may be the most important calculation you make in your restaurant. Read further or watch the video to learn why this is true and what the basic cost of goods sold formula is for restaurants.

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