Modern Restaurant Management

JULY 20, 2021

Total restaurant visits were down -6 percent in May 2021 compared to May 2019 but were up +23 percent from a year ago, recovering from a -23 percent decline in May 2020. Snack periods, were down -5 percent in May 2021 compared to May 2020, and for a pre-pandemic view, down -11 percent compared to same month two years ago.

2021 189

2021 Guest Recovery Online Ordering Point of Sale 189

7 Shifts

SEPTEMBER 7, 2021

To answer this question, we compared 2019 vs 2021 restaurant receipts. For this question, we also used 2019 vs 2021 tip data. Shake Shack has plans to raise prices in Q4 of 2021 from 3 to 3.5 The next largest cost for most restaurants is labor–and there is cash to be saved. in 2019 and $99.50 in 2019 and $18.26

Tip Distribution 370

Tip Distribution 2021 2019 Cash Management 370

Goliath Consulting

OCTOBER 19, 2020

Here are our best guesses for the business trends of 2021. TECH: Social distancing and contact-free technology will be indispensable in 2021, as sanitation and safety concerns around COVID-19 remain (14). The post Restaurant Business Trends to Follow in 2021 appeared first on Goliath Consulting Group.

2021 135

2021 Point of Sale Food Safety Kitchen Safety 135

Modern Restaurant Management

FEBRUARY 3, 2022

Seventy-four percent of full service restaurants (FSRs) managed to maintain or increase their sales during the pandemic; however, profit margins in 2021 declined to 10 percent, compared to 12 percent in 2019, according to third annual State of Full Service Restaurants Report released by TouchBistro.

Loyalty Program 194

Loyalty Program Online Ordering Cash Management Point of Sale 194

Touch Bistro

MARCH 23, 2021

Restaurant accounting and tax specialists have navigated many operators through millions of dollars in relief and helped them become cash flow positive through the pandemic. This article will also cover: Important restaurant tax deadlines for 2021 5 steps you need to take to increase cash flow during tax season. May 17, 2021.

2021 52

2021 Cash Management Employee Relations 2020 52

Modern Restaurant Management

DECEMBER 19, 2023

The restaurant industry has been put through a meat grinder the last three years with pandemic lockdowns in 2020 and inflation and labor issues dominating most of 2021 and 2022. However, high-interest rates are pushing some prospective buyers out of the market who can’t pay with cash. The restaurant industry is back to normal.

2024 100

2024 Marketing Cash Management 2023 100

Culinary Cues

DECEMBER 17, 2020

A reduction in restaurant business leads to crop waste, unplanted land, and serious cash flow problems for farmers. Here are some of the other businesses that suffer when a restaurant closes, sometimes they too cannot survive as a result: [] Regional Farmers: A significant percentage of farm crops are dedicated to restaurants.

Uniforms 471

Uniforms Cash Management Brewery Consumer Goods 471

Modern Restaurant Management

NOVEMBER 21, 2022

percent compared to the same period in 2021. Additionally, menu prices at casual dining establishments rose by an average of 9 percent year over year from 2021. Invoice processing, ordering, food cost management, and analysis are a time consuming, but necessary evil. Keep Managing Costs. It's Time to Get Digital.

Operations 197

Operations Cash Management Seasonal Menu Loyalty Program 197

Xtra Chef

DECEMBER 30, 2020

Here are some of the actions, accomplishments and highlights of the past year… We introduced Recipe Management – a recipe for restaurant profitability. In January 2020, we launched our Recipe Management feature, giving our customers the ability to calculate plate costs easily, accurately and dynamically.

2020 151

2020 Cash Management Point of Sale 2021 151

Touch Bistro

JULY 4, 2021

In 2021, the restaurant industry is experiencing an unprecedented labor shortage that’s seeing worker resignations and job openings at an all-time high. million jobs – or 12% – short of pre-pandemic levels as of June 2021. There are several driving forces behind the 2021 labor shortage. Change Your Management Style.

2021 98

2021 Employee Relations Hiring Recruiting 98

Modern Restaurant Management

JULY 27, 2023

Workers who lack access to basic financial services are subjected to paying expensive fees for things like cashing a check. According to a 2021 estimate by the Federal Deposit Insurance Corporation (FDIC), there are 4.5

Cash Management 162

Cash Management Insurance Customer Service Government 162

Modern Restaurant Management

OCTOBER 12, 2021

But it’s clearly not helping, as a recent National Restaurant Association survey found nearly three-fourths of operators (72 percent) name recruitment and retention as their top challenge, up from just eight percent in January 2021.

Recruiting 197

Recruiting Cash Management Employee Relations Download 197

Hot Schedules

JULY 15, 2021

Mitigating Cost Price Inflation Via Supplier Management. Not only does this deliver greater control, but negotiated rates also help avoid the inevitably higher costs that come from buying with petty cash. Smart operators take purchasing management further by using electronic trading platforms. Related Posts.

Pricing 148

Pricing Management Management Cash Management 148

Black Box Intelligence

AUGUST 5, 2021

The cost of restaurant and service industry labor in 2021 is accelerating rapidly. As of May 2021, limited-service crew wages increased 7.5% To reduce manager turnover rates at restaurants, it’s important to make them feel comfortable about the safety of the workplace as well. according to Black Box Workforce Intelligence.

Recruiting 98

Recruiting 2021 Management Management 98

The Food Corridor

FEBRUARY 2, 2021

The natural question now is: what you got 2021? What to Expect From 2021. To do this, let’s look back at 2020 and see what we think might be around the corner for shared kitchens in 2021. As restrictions continue into 2021, shared kitchens have an opportunity to help small businesses make the most of new opportunities.

2021 75

2021 Kitchen Safety Back of House Front of House 75

7 Shifts

SEPTEMBER 19, 2022

What about managers? Track and manage employee workload. For restaurant employees added in the past year (August 2021-August 2022), the average employee tenure is just 110 days —a little over three months. What about managers? Managers fared a bit better than hourly employees—with a turnover rate of 28%.

Front of House 195

Front of House Back of House Cash Management Customer Experience 195

EATER

FEBRUARY 10, 2022

DoorDash Capital is actually a cash advance and a fee, okay? In a FAQ on the company website , DoorDash is very clear that its new financing product is a cash advance, not a traditional loan. Shutterstock. The move comes as no surprise for anyone who’s been watching DoorDash over the last year.

Cash Management 103

Cash Management Point of Sale Online Ordering Advertising 103

Modern Restaurant Management

APRIL 11, 2022

percent increase in average US hourly wages in 2021, specifically noting a rapid rise in wages for leisure and hospitality workers. Facing multiple headwinds, restaurant owners and management must employ the most effective tool available: effective communication. Managers are already busy. Communicate Better.

Healthcare 203

Healthcare Cash Management Social Media Communication 203

Modern Restaurant Management

APRIL 5, 2022

The reasons for the accelerated growth of this idea, the contribution of POS to these kitchens, the display systems to make the operations easier, and the automated operations used in the inventory as well in the kitchen for easy food management- are some of the ideas that will be discussed in the following paragraphs.

Online Ordering 196

Online Ordering Point of Sale Website Management Inventory 196

Black Box Intelligence

AUGUST 5, 2021

The cost of restaurant and service industry labor in 2021 is accelerating rapidly. As of May 2021, limited-service crew wages increased 7.5% To reduce manager turnover rates at restaurants, it’s important to make them feel comfortable about the safety of the workplace as well. according to Black Box Workforce Intelligence.

Recruiting 71

Recruiting 2021 Management Management 71

7 Shifts

OCTOBER 20, 2022

Throughout 2021, the U.S. Specifically, The DOL applied the updates to the amendments that occurred in 2018 in section 3(m) and other sections in the Fair Labor Standards Act: First, employers, supervisors, and managers cannot keep employee tips under any circumstances, even in a tip pool. Don't Include Managers in the Tip Pool.

Tip Distribution 195

Tip Distribution Restaurant Law 2023 Cash Management 195

Modern Restaurant Management

MARCH 19, 2021

2021 may have some good in store for the industry moving forward. Congress recently signed off on a number of provisions in the Consolidated Appropriations Act of 2021 that provide financial aid to business owners in the restaurant and hospitality industries to help expedite recovery from the now year-long pandemic.

Tip Distribution 189

Tip Distribution Government Cash Management 2020 189

Modern Restaurant Management

JULY 25, 2023

As a restaurant owner, managing your finances effectively is crucial for the success and growth of your business. These incentives can help reduce your tax liability, increase cash flow, and promote business expansion. billion in the first quarter of 2021. billion in the second, third, and fourth quarters of 2020 and $7.9

Cash Management 88

Cash Management Government 2025 2023 88

Modern Restaurant Management

AUGUST 10, 2022

Delivering five-star customer service is perhaps the most important thing restaurants can do to make higher prices more palatable for cash-strapped guests. The trend shows no signs of fading: the National Restaurant Association’s 2021 report says 53 percent of adults now consider takeout or food delivery essential to the way they live.

Customer Experience 188

Customer Experience Online Ordering Customer Service Mobile Ordering 188

EATER

APRIL 10, 2024

Wonder debuted in December 2021 as a network of tricked-out Mercedes-Benz Sprinter vans serving a few affluent New Jersey suburbs. As it does with other partners, Wonder offered him a cash payment plus equity in the company to sign on, a compensation structure that’s common in tech startups but not in restaurants. Wonder’s $1.5

Delivery 131

Delivery Cash Management Point of Sale Back of House 131

Touch Bistro

JULY 18, 2021

As of June 2021, the Bureau of Labor Statistics reported that the restaurant industry was still 1.5 Announce it at an all-team huddle, send out a group email, or use your staff management and scheduling software to communicate all the details of the program. million jobs – or 12% – short of pre-pandemic levels. Compare the results.

Back of House 52

Back of House 2021 Front of House Cash Management 52

Modern Restaurant Management

AUGUST 10, 2021

Please send questions to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. When it comes to managing medical plan costs for restaurant employers, aggressive management of prescription drug expenditures can yield significant savings. Carve In or Carve Out.

Management 180

Management Management Cash Management Healthcare 180

Restaurant365

JULY 29, 2021

The restaurant industry in 2021 looks significantly different from the pre-pandemic restaurant industry. Whatever opportunities you pursue, business in 2021 and beyond should look significantly different than it did in 2020. Ultimately, managing your vendor relationships is an area of risk management.

Cash Management 78

Cash Management Point of Sale Inventory 2021 78

Modern Restaurant Management

AUGUST 20, 2020

Many restaurants and dining establishments are looking to implement new innovations heading into 2021. With hand hygiene becoming a major point of emphasis, this also keeps patrons and staff from exchanging cash, change and cards frequently. COVID-19 has changed how the foodservice world operates.

Cash Management 208

Cash Management Equipment 2012 Technology 208

Modern Restaurant Management

FEBRUARY 4, 2022

Though many of the market forces that shaped the restaurant industry in 2021 were closely linked to disruption from the pandemic's onset in 2020, 2022 brings new challenges — and opportunities. A short menu can slim down the food costs through streamlined inventory management, as well as reduced food waste. Delivery Options.

2022 218

2022 Customer Service Online Ordering Website Management 218

Modern Restaurant Management

JUNE 7, 2021

Please send questions to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. An interesting dynamic occurred with the January 2021 benefit open enrollment period. This edition of MRM's "Ask the Expert” features advice from Trion Group.

Employee Relations 122

Employee Relations Insurance Cash Management 2021 122

Modern Restaurant Management

JANUARY 12, 2022

The pandemic has permanently altered the consumer-restaurant relationship with operators investing in technology and real estate to align with changing consumer preferences, according to the 2021 Restaurant Franchise Pulse survey, conducted by TD Bank. Christmas Day delivers second-highest day for check value across 2021.

2022 215

2022 Mobile Ordering Guest Recovery Point of Sale 215

ChefMod

OCTOBER 6, 2021

But, how have they managed to stay up and running so far? Additionally, the extra cash flow can make a difference in the running and management of your business. According to a report by the National Restaurants Association, more than 110,000 restaurants and bars closed their business for good or temporarily by the end of 2020.

2021 52

2021 Email Marketing Front of House Cash Management 52

Xtra Chef

DECEMBER 16, 2020

But with large gatherings prohibited in most regions and many restaurants strapped for cash, parties are simply not an option this year. Managing a Restaurant Gift Card Exchange. Looking Ahead to 2021. Normally, the annual holiday staff party is a great time to spread some cheer. A gift card exchange.

Certification 130

Certification Tip Distribution Cash Management Food Safety 130

Modern Restaurant Management

FEBRUARY 4, 2021

So, in 2021, make it a priority to give all your brand’s most engaging content a home. It’s always been a challenge to schedule and manage on-site visitations, and the pandemic certainly hasn’t made this any easier.

Franchise 203

Franchise Franchising Leadership Cash Management 203

Lavu

SEPTEMBER 29, 2023

The 2021 COVID-19 pandemic caused many people to leave the hospitality industry, and many have not returned. Some ways Lavu can help automate tasks and improve efficiency are: Order Management: Lavu provides a user-friendly interface for taking orders, which reduces errors and speeds up the process.

Loyalty Program 166

Loyalty Program Front of House Mobile Ordering Customer Service 166

Margin Edge

NOVEMBER 10, 2021

There are three primary ways for restaurants to pay their bills: manually writing checks (stuffing, licking, stamping envelopes, and taking them to the post office), using credit cards or digital banking, and lastly using a third-party provider like Bill.com, QuickBooks, or your restaurant management system (RSM). Fuhgeddaboudit.

Management 80

Management Management Cash Management Front of House 80