How to Prevent Monetary Loss in a Restaurant Business
One of the most common problems that restaurant owners face is employees stealing from them. Even if you claim that you know and trust your employees well enough. Workers can still get tempted to take some of the money in the cash register or steal some of your bulk olive oil supplies in the pantry. You can never predict this kind of scenario which is why it is crucial for you to always be on the lookout in your business.
One of the reasons employees steal from a business is because they can get away with it. It means that the company lacks security and has an imperfect process. If any of your employees do this to your business, then you will most likely end up filing for bankruptcy in just a matter of time. So, here are some tips to prevent financial loss in your restaurant business.
You should have records of all your sales
Running a restaurant business can take up a lot of your time. However, this should not be an excuse for not knowing your daily sales figures. It is an excellent idea to invest in a POS system that can efficiently monitor all the food and drinks that are being served to customers. Also, be careful when it comes to cancellations of orders. Not all employees should have access to void sales. A manager or supervisor should only have access to change them in the POS system.
Limit your freebies or giveaways
It is usual for restaurant owners to give freebies or items to lucky customers. However, if you do not put a limit on these giveaways, there could be a possibility that it can end up in the wrong hands. Employees can keep the freebies instead of giving them to deserving customers. There are even cases where they sell the freebies for a lower price so they can earn extra cash.
Conduct an inventory before the end of each working day
One of the most challenging things to monitor is kitchen stock and ingredients. There are cases where several employees try to steal ready-made food products like milk, meat, spices and cheese right from the supplier’s delivery truck. Since the restaurant is a bustling place, it can be quite challenging to monitor everything in real-time. So, it is best to regularly conduct a quick inventory of all the ingredients that are used for the day. All employees should be held accountable for the losses in the restaurant.
Install CCTV cameras, especially at the counter
One of the most vulnerable areas for fraud inside a restaurant is by the cash register. Any employee can get tempted and steal some cash without anybody seeing it. They can also take a customer’s credit card information and use it for personal gains. It is better to be safe than sorry. Protect your business, employees and customers by installing CCTV cameras.
Lastly, take into consideration hiring a security guard to look after the entire restaurant.
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