As many restaurants have either temporarily closed or are operating on a fraction of prior sales volume, financial issues have become front and center. To survive, maximizing efficiencies, containing costs and managing cash flow is paramount.
In this webinar, we'll focus on what operators are doing to reduce costs and expenses and conserve cash.
We'll essentially go through the P&L to highlight ways to reduce costs that individually may seem small but cumulatively can make a meaningful and decisive difference in the financial health of your business going forward.
We'll explain the difference between controlling costs and expenses and managing your cash flow and why understanding the difference is crucial for survival.
Here are a few of the key topics we'll discuss:
- Labor reduction, assisting staff with unemployment, temporary salary reductions
- New sources of sales & cash, gift card promotions, grocery sales, inventory sales, asset sales
- Cost reductions in rent, food, beverage, other
- Deferring payments with utilities, taxes, loans, suppliers, other
- Government assistance
- Ideas and insights from your fellow independent operators
- Your questions
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