People often argue about what the most daunting task of opening a new restaurant is. Some say it's finding the right location, developing the right menu, and hiring the best servers. And while all of these are very important to any restaurant's success, they still play second fiddle to being fully funded.

Anyone responsible for the day-to-day operation of a restaurant must understand what Cost of Goods Sold represents and how to complete the standard calculation.

The key to the success of any business small or large is controlling costs. Marty identifies three main reasons why restaurants fail and digs into the food cost issue. 

John explains the importance of taking accurate and timely physical counts of your food and beverage inventories and shows you how to make a series of simple accounting entries to insure accurate food and beverage cost reporting for your critical Profit and Loss Statements.

Deciding whether a "prime vendor contract" is a wise choice in your purchasing process is something that confronts many operators today. Eric walks through all the pros and cons for you to consider.