Variable expenses fluctuate based on the volume of your business, including cost of ingredients, utilities, and overtime pay. Some common fixed expenses are rent, base salaries, and insurance. Fixed expenses are the same from week to week and month to month, regardless of how much profit or traffic you generate. Fixed Expense/Variable ExpenseĪll operating expenses fall into one of two categories: fixed and variable. Investment experts, loan officers, and merchant cash advance providers perform due diligence audits to confirm everything provided by the applicant or purchaser is true and supports the financial investment. ![]() In general, due diligence refers to the steps a reasonable person would take before entering into an agreement or purchase with another party, focusing on information necessary to make an informed decision. Concerted activity such as self-organizing into unions, collective bargaining, and social media discussion of non-proprietary information or working conditions are all legally protected against employer retaliation and employee dismissal. These are the types of activity employees can engage in that are protected by freedom of association and the National Labor Relations Act in the United States. One might amortize a particularly large purchase if the benefits of that product accrue significantly over time and not all at once. In business, this can refer to spreading payments out over an extended period of time (usually years) as with a loan or spreading the cost of a large asset out over a long period, as you would an expense in a budget. Amortizeīroadly, to amortize means to spread over a long period of time. ![]() Here are ten business terms defined that will help you navigate the waters of your restaurant’s financial success. ![]() It’s a big job for any owner, and if you don’t know the language, that job gets even more challenging. Every business - whether a restaurant, bar, or other food service entity - has the same basic need to track profit and loss, manage employees and wages, and control expenses.
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