Remove 2024 Remove Inventory Remove License
article thumbnail

2024 Outlook: Restaurant Trends and Challenges, Part One

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. Just as the transition to renewables and electric vehicles has thrived on collaborative efforts, we foresee more collaboration for the cultivated meat industry in 2024.

2024 493
article thumbnail

Bridging the Gap: Integrating Legal and Insurance Considerations into Restaurant Cybersecurity Response

Modern Restaurant Management

More recently, Panda Restaurant Group disclosed a March 2024 data breach that compromised driver's license numbers and other personal information of nearly 240,000 current and former employees. Implementing a formal vendor risk management program helps restaurants track these requirements across all partners.

Insurance 282
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Complete Checklist For Selling Your Restaurant In 2024: Pre-Sale, Sale & Post-Sale

7 Shifts

A full-service restaurant with liquor licenses and a well-trained staff may be more valuable than a small café Buyers might also be interested in niche concepts that stand out in the market, while generic concepts may fetch lower prices. Make sure your food service licenses, liquor licenses, and health permits are all valid as well.

2024 195
article thumbnail

How to Open a Bar: Comprehensive Guide on Starting a Bar

7 Shifts

Running a bar is a lucrative business, proven by the fact that this industry is estimated to be valued at a whopping $36 billion in 2024. However, note that bar profit margins vary due to various factors like tax rates, licensing laws, customer demographics, and the cost of living in your area.

Bar 221
article thumbnail

How to Set Up a POS System for a Restaurant in 2025: A Step-by-Step Guide

Lavu

Integration with online ordering, loyalty programs, and inventory tracking. Add features like online ordering, inventory tracking, and loyalty programs. They streamlined their operations with proper hardware integration: “We used to spend literally days doing inventory. Scalability for future growth. Transaction fees: 2.2%4.5%

POS 78
article thumbnail

How to Set Up and Run a Ghost Kitchen for Your Restaurant Business

Restaurant365

Revenue is expected to show an annual growth rate (CAGR 2020-2024) of 5.1%, resulting in a projected market volume of $32,325m by 2024. You will need to write these out for your final inspection and licensing. Control Inventory for Your Virtual Kitchen. Initially, you’ll want to lower stock inventory.

article thumbnail

Autumn Budget 2024: What UK Restaurant Chains Need to Know to Protect Their Margins

Apicbase

Before we dive into the challenges of the Autumn Budget 2024, lets step back and look at the bigger picture. Why are UK Restaurants Concerned About the 2024 Autumn Budget? When Will the Autumn Budget 2024 Take Effect? Chancellor Rachel Reeves presented the UKs Autumn Budget 2024 on 30 October 2024.

2024 52