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Finance & Growth
Lease Agreement Boot Camp
How to Analyze and Negotiate a Restaurant Lease Commercial lease agreements, particularly for restaurants, can be complex and burdensome —however, they are one of the most important aspects of running a profitable business. Performing the proper du...
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Finance & Growth
Contract Best Practices
Be thorough or potentially get burned Have you ever heard the saying, “There’s nothing more expensive than cheap legal counsel?” Well, there’s something a little more expensive, and that’s no legal counsel. In today’s rushed world where w...
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Finance & Growth
Commentary: It’s Time to Raise Prices
Unless you’re living under a rock, you already know that the cost of nearly every good has risen dramatically recently. Case in point, as but one example: lumber. I called a handyman recently who has previously installed flooring in my basement. He...
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Finance & Growth
Restaurant Insurance in the Post-COVID Era
How to keep costs down and protection up in today’s climate Interested in safeguarding his restaurant and his livelihood, John Panvino doesn’t hesitate to invest in insurance. The chef and owner of Trattoria Porretta in Chicago, Panvino knows tho...
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Finance & Growth
Big Pizza Chain Strategy: What the pizza industry powerbrokers are up to
When the big guys move, it can reverberate across an industry and impact those big and small. Consider retail. When a power player such as Amazon waives delivery fees or one like Kohl’s maintains forgiving return policies, it shifts consumer sentim...
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Finance & Growth
Ghost Kitchen?
A primer on the concept and how it’s being used in the pizza space Over the past year, the term ghost kitchens has popped up frequently. They’re also called virtual restaurants and cloud kitchens. In fact, when we asked leading operators during a...
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Finance & Growth
Pizzeria owners extend their brand reach with private labeling and licensing products
Bottling a Brand with private labeling and licensing products Pizzeria owners who want to package their signature sauce, dough or whole pies to sell in stores or online might find the process is not easy, but the extra exposure and revenue are a plus...
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Finance & Growth
Building Blocks: Controlling Your Food and Labor Costs
After spending the past few issues discussing menus, marketing and manpower, we’re going to discuss the big process underlying every facet of your business: controlling costs. I’m sure you have heard a lot about “prime costs,” or the direct c...
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Finance & Growth
PPP Forgiveness — Questions Answered
The Path to Payroll Protection Program Forgiveness Ankit Chudgar is asking for forgiveness. The owner of Primo’s Pizzeria in Louisville, Kentucky, Chudgar was one of thousands of restaurant owners to secure a Paycheck Protection Program (PPP) loan ...
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Finance & Growth
When and How to Expand Your Restaurant Concept
Full Steam Ahead Expanding is tough. Small stores take a lot of effort and planning. A full-service restaurant roll-out can feel like it’s taken years off your life by the time you’re finally open. To handle it, I’ve refined my opening process ...
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Finance & Growth
A Study of Profit & Loss Statements (P&Ls) and Balance Sheet
Your Pizzeria’s Report Card My mentor Roger Duncan, founder of Rusty’s Pizza in California, shared this wisdom with me. “Sales are made in the restaurant. Profits are made in the office.” Let us embark on a journey to pizzeria profitability. ...
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Finance & Growth
Mike’s Monthly Tip: How to Un-Commoditize This Industry
What should a large pizza cost? Ask yourself, or better yet, ask someone who’s not in our industry. Ask someone with no preconceived notions what a large pizza should cost. Not based on inch size or the number of slices. Simply put: what should a l...