FREQUENTLY ASKED QUESTIONS
WHAT TYPE OF ROI CAN WE EXPECT BY TRANSITIONING TO RSI?
The average Independent Restaurant earns 4-6% NET annual profit. RSI clients see an increase, earning 11% – 14% NET annual profit and are provided with proactive tools to assist in controlling their food, alcohol, and labor costs. We do this by drilling corporate level discipline to the independents!
HOW MUCH DOES YOUR SUPPORT COST?
We believe that a successful partnership requires good communication, and that cannot happen if we charge for support! As part of our service, all clients have access to our team of US-based industry experts from Monday-Friday. Additionally, we have a specialized team of former restaurant GM’s, Executive Chefs and Owners who know the restaurant biz inside and out. Our knowledgeable Client Advisors & Operational Specialists not only demonstrate to our clients how to use the website, but they also use their restaurant specific background to educate on best practices as well as training restaurateurs how to become powerful using RSI’s dynamic tools and reports, ultimately assisting them in reaching their financial goals on a daily basis.
HOW USER FRIENDLY IS RSI?
Our system is designed specifically for the independent operator and our support provides hands-on training for over 1,300 different restaurants all over the US. We work with folks that have never owned a restaurant to chefs that have been in the industry for 30 years or more.
WHO DOES THE WORK IN THE RSI SYSTEM?
Our goal is to place the ownership and accountability back at the store level by engaging entire management teams. They are the ones typically making the decisions that make or break the profit in this industry, so why not offer them the insight on their results? We supply the tools for obtaining financials and budgets and we also train each manager on how to use the system while providing the why’s of what they’re doing. Giving your management team more responsibility and information makes them a more valued commodity for your business and helps grow them professionally.
ARE THERE DIFFERENT ACCESS LEVELS WITHIN THE RSI SYSTEM?
Yes! Each manager who will use RSI has their own login, and the administrator to the site can set up different levels of security for managers to access only what they need. Example: Your Bar Manager may not need to access payroll information and your FOH Team may only need limited access to certain financial reports, etc.
I UNDERSTAND YOU BELIEVE IN WEEKLY PAYROLL... WHY?
Performing payroll on a weekly basis enables you to have more control of your labor cost and cash flow because you are looking at it each week. It also provides you the opportunity to apply credit card tips on paychecks instead of handing cash out to tipped employees each shift. In turn, this reduces the number of times you have to go to the bank to refill your “house bank,” while decreasing your liability with cash on hand.
WHAT IS THE REASON FOR A WEEKLY FINANCIAL STATEMENT? I GET A P&L FROM MY ACCOUNTANT EACH MONTH
When you have a clear look at your finances on a weekly basis you can start running your business proactively. When you receive a P&L at the end of the month, the information is now old and you are a reactionary operator. This will allow you to make conscious decisions on a weekly basis to control spending and budgeting for every aspect of your business. You wouldn’t schedule your patio based on last week’s weather, so why would you wait to receive financials that are hopefully accurate when the critical time for assessing areas of opportunity has already passed?
HOW ARE MY SALES TAXES HANDLED?
Our Tax Specialists will work with you to identify all of your sales tax categories along with rates and filing frequency. Tax liabilities are calculated based on sales information from your POS. RSI will then remit payments on their due date via an ACH transfer from your designated checking account.
ADD MORE ABOUT TAX AND COMPLIANCE WORKING TOGETHER
HOW DOES INVENTORY GET ENTERED INTO RSI?
You can print customizable count sheets by inventory location with current product pricing (this is updated through last price paid on submitted invoices) or inventory values can be entered directly into your tablet or laptop. Our cohesive inventory and ordering system allows you to easily identify your usage and or areas of loss – whether it be waste or theft.
HOW DO MY INVOICES GET ENTERED & PAID?
There are many methods to pay bills and our team of industry experts will assist you to understand what method works best for your operations dependent upon your cash flow. If you need checks, we process them and they arrive weekly along with your payroll checks. Additionally, we have an Invoice Scanning service which enables you to scan and upload all invoices into our Accounts Payable Dashboard; this includes both itemized and GL distributed invoices. Through a combination of machine learning and service, the invoices will be PROPERLY CODED in your imported invoice queue and all invoices will be digitally stored and easily recalled for reprinting and verification.