Maximizing Restaurant Profits by Routing Out Hidden Financial Risks: A Technology-Based Approach

4 Min Read By Drew Holst

Anyone who has spilled water on a laptop understands the relief of discovering that the machine works when it’s dry again. But anxiety about the incident still lingers. After all, hidden damage could manifest itself in the days or weeks ahead.

In a sense, this is the place the restaurant industry is in right now. Restaurateurs are seeing the light at the end of the COVID-19 tunnel due to a variety of factors. For example, labor shortages, one of their biggest obstacles to growth, are easing, according to Labor Department numbers. Yet, threats to limited-service and full-service restaurants are still lurking behind the scenes. 

Full-service restaurants, for instance, are particularly subject to the effects of inflation—as consumers appear to shift some spending to limited-service establishments and QSRs to save food costs. This migration could be a goldmine for casual/fast food brands if only they had the people to support them. Unfortunately, it turns out that restaurants’…