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Building a Resilient Restaurant: A Guide to Scaling a Food Concept in 2024

Modern Restaurant Management

Facing harsh headwinds in the form of stiff competition, tough macroeconomic conditions, and ever-evolving consumer preferences, running and scaling a successful restaurant business requires a nimble approach that encompasses four key focuses. Investors are eager to work with founders who prioritize prudent cash management.

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THE RESTAURANT ECO-SYSTEM NEEDS HELP

Culinary Cues

Now, this alone might not keep the average consumer or politician up at night, but what they fail to understand is that restaurants are at the center of a broad eco-system of businesses that are inter-dependent. A reduction in restaurant business leads to crop waste, unplanted land, and serious cash flow problems for farmers.

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2024 Outlook: Restaurant Trends and Challenges, Part Three

Modern Restaurant Management

Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits.

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How to Analyze Restaurant Financial Statements and Identify Growth Opportunities

Modern Restaurant Management

For example, the Christmas period typically brings with it increased sales, whereas January signifies a downturn in disposable income for most consumers. It will help you manage your finances more efficiently and put you in a better position to ride out those quieter months.

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Tip Pooling Tools to Easily Manage Tips at Your Restaurant

7 Shifts

It also eliminates some of the downsides of tipping like inconsistent wages, an emphasis on “good tables,” and an individual mentality among serving staff. With tipping numbers up across the board, now is a good time to think about how you can distribute them to your team more fairly. Table of Contents. What is tip pooling?

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New Restaurant Payroll Tactics and Tools For Building a Talented, Loyal Staff

7 Shifts

Enter 7shifts , a scheduling and team management app that simplifies the payday processes that typically run restaurateurs ragged. Any owner or manager running payroll manually understands the complexity faced each pay period. The downsides fall on management—weekly pay dramatically increases paperwork and admin time.

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Cash Will Still Be on QSR Menus

Modern Restaurant Management

Last year, one of the first brands to go cashless, Sweetgreen, changed its policy to accept cash at all its locations. The quick-service restaurant (QSR) started accepting cash after Amazon confirmed it would take cash payments in all of its previously cashless Amazon Go stores. To eliminate cash is to eliminate customer choice.