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

Modern Restaurant Management

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.

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2023 Outlook: Trends and Challenges Restaurants Will See, Part Two

Modern Restaurant Management

Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. In 2023, we can anticipate businesses really focusing in on value and doing what they can to attract and retain both employees and guests. For part one, click here.

2023 197
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BofA Report: New Appreciation for Restaurants

Modern Restaurant Management

Other supply chain related events, which spanned from restaurant equipment (creating issues for restaurant development and timing) to the Avian flu/eggflation issues, also negatively impacted the industry. What issues/challenges do you see ahead for restaurants as we head in 2023 and what advice can you offer to help?

2023 189
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2024 Outlook: Restaurant Trends and Challenges, Part Three

Modern Restaurant Management

This trend reflects the growing popularity of drive-thru and fast-casual dining, coupled with the demand for digital technologies such as QSR digital signage and QR codes. Consider, for instance, a scenario in which your Point of Sale (POS) system can forecast the popularity of a new dish based on historical customer behaviour.

2024 215
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2022: A Year of Transition for Restaurants

Modern Restaurant Management

More than half of restaurant operators said it would be a year or more before businesses conditions return to normal with food, labor, and occupancy costs are expected to remain elevated, and continue to impact restaurant profit margins in 2022, according to the National Restaurant Association's 2022 State of the Restaurant Industry report.

2022 207
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2023 Reflections: The Year That Was in Restaurants, Part Two

Modern Restaurant Management

In 2023, the restaurant industry faced several challenges and made some missteps along the way. Notably, not enough investment in technology and digital transformation. As with most other industries, the biggest talking point for restaurants in 2023 has been artificial intelligence. Here are some of their insights.

2023 197
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HORECA Middle East: 5 Opportunities in the Hotels, Restaurants, and Catering Industries

Aaron Allen & Associates

In the Middle East, GDP growth forecasts for 2023 are better than pre-pandemic values for Bahrain, Jordan, Kuwait, Oman, Qatar, the KSA, and the UAE. Some of these are: As part of Vision 2030 in Saudi Arabia, $500 billion are being invested in NEOM across 14 sectors including food, tourism, and entertainment & culture.

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