))
Money Matters: Navigating Cash Flow Challenges in Bars
Manage episode 425744734 series 3445410
Contenuto fornito da Chris Schneider, The Bar Business Coach, Chris Schneider, and The Bar Business Coach. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Chris Schneider, The Bar Business Coach, Chris Schneider, and The Bar Business Coach o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.
Can a bar with great food and service still fail? Absolutely, and today's episode of the Bar Business Podcast reveals why. Join me, your host Chris Schneider, as I share a personal tale about my parents' fine dining restaurant in Indianapolis. Despite the glowing reviews and stellar reputation, their venture ultimately failed, underscoring the critical importance of keeping an eye on where your money is going.
This week, we shine a spotlight on why cash flow is the lifeblood of any bar or restaurant. Trendy spots might attract buzz, but without steady cash flow, they can quickly fade away. We break down how to regularly review cash flow statements, differentiate between P&L and cash flow, and the impact of loan repayments, amortization, and depreciation. The episode also highlights the perils of over-leveraging and taking on high-cost loans, which can put even the most lucrative businesses at risk. Understanding these elements is crucial for sustaining your business and ensuring its long-term success.
Welcome to the Bar Business Podcast, where we help bar owners increase profits, attract loyal guests, and simplify operations without burnout so you can finally enjoy life outside the bar. Our podcast is packed with valuable insights, expert advice, and inspiring stories from successful bar owners and industry professionals.
Thank you to our show sponsor, SpotOn. SpotOn's modern, cloud-based POS system allows bars to increase team productivity and provides the reporting you need to make smart financial decisions.
**We are a SpotOn affiliate and earn commissions from the link above.
Thank you to our benchmarking data partner Starfish. Starfish works with your bookkeeping software using AI to help you make data-driven decisions and maximize your profits while giving you benchmarking data to understand how you compare to the industry at large.
Learn More:
The Bar Business Podcast Website
Schedule a Strategy Session
Chris' Book 'How to Make Top-Shelf Profits in the Bar Business'
Bar Business Nation Facebook Group
Capitoli
1. Cash Flow in the Bar Business (00:00:00)
2. The Importance of Cash Flow (00:14:48)
3. Cash Flow Management in Bars (00:24:57)
4. Financial Strategy Sessions for Bars (00:31:37)
76 episodi
Condividi
