Safeguarding Your Restaurant’s Cash Flow During The Covid Pandemic
We have all heard the expression: “Cash is King”. There is a reason the expression exists, managing cash flow is essential for managing a successful restaurant or business of any kind. In its most basic sense, cash flow is the movement of cash in and out of your restaurant. Ideally, you want more cash coming in than you want going out (obviously). In this blog, we will discuss ways to protect the outflows of cash through: how and when to pay bills, reducing costs, strict cost controls and procedures. There are, of course, additional ways to reduce outflows of cash flow. However, we chose to focus on the best practices we are seeing now during the Covid Pandemic.