The Cold, Hard Truth about Making It in Restaurants | Season 11, Vol. 7

In this episode of Hospitality Hangout, Michael Schatzberg, “The Restaurant Guy,” and Jimmy Frischling, “The Finance Guy,” are joined by Morgan Harris, Co-Founder and Chief Customer Advocate of Restaurant365. Morgan shares his origin story, from bored accountant to passionate entrepreneur on a mission to help restaurants thrive. Listen as he explains the unique challenges of restaurant accounting and operations, and how his desire to solve these problems led him to start Restaurant 365. Morgan also discusses how Restaurant365 leverages partnerships with accounting firms to efficiently reach more restaurant operators.Key Takeaways:(01:29) Restaurants have unique accounting needs.(02:23) Everything about inventory impacts accounting.(03:07) Why track inventory outside of accounting software?(05:10) Restaurants need to make money to survive.(07:07) Accounting 101 on debits and credits.(08:16) Restaurant 365 integrates accounting and inventory.(09:26) Restaurants are misunderstood businesses.(11:11) Morgan will do whatever it takes for customers.(16:36) Restaurant365 makes operators’ lives easier.(18:20) Morgan personally delivered computers to a client.(20:13) Early adopter restaurants had ancient tech.(22:02) Finding partners is key for restaurant tech.(23:17) Outsourced accounting drives sales.