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    Finances,  Analysis,  Marketing

    The Real Cost of Online Reservation Systems

    You are a restaurant and you want more customers. You want control over your booking system and a database of your customers. You want a simpler way for your customers to be able to book without needing to always have to speak to somebody, or for that same somebody to check emails constantly. And you want to be able to quickly and easily check the bookings you have. Enter the online reservation (or online booking) system. There are lots of companies that provide this system, including ResDiary, Open Table, Quandoo, Bookatable, Welcome Table, simpleERB, et al. Some offer fixed pricing, but the bigger players offer a per-cover model that is…

  • The Real Cost of Online Reservation Systems 2
    Finances

    Types of Restaurant Finance

    There is one key driver in the restaurant business – cash flow. If the cash is not flowing, the restaurant is not growing. And from time-to-time, you need an injection of money into the restaurant for anything from a refit, to expansion, restructuring or simply cash flow. Here is a list of the types of finance available to restaurants: Tax / VAT Funding Business Development Loans Cash-flow / Cash-release Facility Refurbishment Loans Asset Finance / Re-Finance (Leasing) Vehicle Funding Merchant Cash Advance Invoice Financing (Factoring) Personal Loans Secured Loans (2nd charge) Almost all lending is unsecured (ie not secured against property) but does require personal guarantees. I will cover these…