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They started their first business with cash, but when it came to building The Icy Spot GA, they tapped personal credit for some of their startup costs. The report found operators are spending an average of 34 percent more on food costs compared to last year. “It feels like we have to start over,” said Adams.
per share in cash, a 65% premium on the company’s share price as of April 30, before media reports suggested the company was for sale. The sale, which is expected to close by the end of the year, puts Olo into the hands of Thoma Bravo, a massive, software-focused investor with about $184 billion in assets under management. “By
Franchised brands have been popular targets for investors that prefer their lack of capital spending and cash flow that is less susceptible to recessionary downturns like those of company-run operations. The company was founded in 1936 and is one of the nation’s largest donut brands. Trending Operations Washington, D.C.
11, 2025 Facebook Twitter LinkedIn 7-Eleven is among the growing list of retailers and restaurants offering deals to lure cash-strapped consumers this summer. The prices for both restaurant food and food from grocery and convenience stores rose 0.3% Food prices overall are up 2.9% By Heather Lalley on Jun. Sign up here.
For the restaurant industry, it can be challenging to manage. The idea is for your restaurant to reflect the festive spirit while taking into account the realities of supply chain pressures and inflation. With this information, you'll know how many employees to schedule and how many foodsupplies to order.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news of dramatic Valentine's Day shift, best food scenes, and the evolution of c-store foodservice. As they grapple with rising costs across their supply chain, 71 percent of restaurants plan to increase prices this year.
Joe Nicholson was a manager and tech consultant at one of the busiest restaurants in Sacramento, CA—Tower Cafe. Now, as a copywriter at SpotOn, he helps restaurant owners and managers learn how to run a more profitable operation. That could simply be food sales , alcohol , and non-alcoholic beverages. Prime costs.
Running a successful restaurant in 2025 means more than just great food—it requires smart financial decisions. This guide breaks down 28 proven strategies that help cut unnecessary expenses, streamline operations, and boost profitability—whether you manage a small café or a multi-location chain. Food cost control is crucial.
Restaurant owners are being forced to find a way to make it through winter with vastly reduced revenue, and many operators are scrambling to reallocate budgets and manage staffing to survive COVID-19. Should you consider entering the food truck business? Managingcash flow can be difficult for seasonal businesses.
Modern Restaurant Management (MRM) magazine asked restaurant industry insiders for their views on trends. With more options to work outside of the hospitality industry, operators must offer employees more scheduling flexibility, facilitate transparent communication between management and team members, and avoid overworking staff.
To add resources to these guides, reach out to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com with news. The National Restaurant Association-managed site also provides a direct connection to the industry’s grassroots engagement platform. SugarTrek , Inc.
Lille Allen Brands like Fly By Jing and Bachan’s are reaching a whole new audience from the shelves of the ultimate big-box store The last decade or so has been a golden era for cool food products sold directly to consumers online. It was just way too much for one person to deal with.”
But the challenges don’t stop there—once open you have to focus on improving processes, managing labor schedules, and controlling restaurant costs. Not only do you have to manage many costs including, labor, equipment, and food—but you have to do it while dealing with inevitable price increases. Let’s get started.
Modern Restaurant Management (MRM) magazine asked restaurant industry insiders for their perspection on 2020: What lessons did you learn and what do you feel the restaurant industry learned this year? Food delivery was an already booming industry, but when COVID hit it increased even more. Here are their responses.
By tracking metrics like customer retention and employee turnover rate, contribution margin, and menu item profitability, restaurant managers can identify each area’s strengths and what areas need improvement. This number is essential because it helps you determine the price of your food and beverages.
Modern Restaurant Management (MRM) magazine asked restaurant industry movers and shakers: "What do you feel is going to cause disruption in the restaurant industry over the next decade?” Over the next decade, a generation passionate about health and wellness will demand restaurants be transparent about food from farm to table.
15 percent have ordered alcoholic beverages with food for delivery or takeout, on par with the 18 percent of Canadians that say they’re likely to do this. “The developments and improvements made to delivery and takeout containers, food quality and speed have made a lasting, positive impression,” says Barclay.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features consumers' dining desires, the power of personalization and the untapped opportunity in localized marketing. Earlier this summer, TOP Data examined the re-rise of carhops and the staying power of fast food during a nationwide pandemic.
Managing a restaurant is not for the faint-hearted. This includes: Net Sales: The total revenue derived from your sale of food and beverages. However, as a rule, the primary costs you can expect in running your restaurant are usually related to food, labor, and rent. Most restaurants try to keep it at around 30% to be safe.
Modern Restaurant Management (MRM) magazine's People & Places column features news of company hires and promotions, charitable efforts and product introductions. Azteca also supplies freshly made products to the Food Service and Industrial channels. Founding Members. Art Velazquez.
While this could be a rewarding venture, opening a bar is not exactly the same as opening a food business. Your business name will also appear on your marketing materials, staff uniforms, menu, social media accounts, and advertisements, so make sure it isn't too long or complicated.
This edition of MRM News Bites features OpenTable, Restaurant Workers’ Community Foundation, PAR Technology, Tropical Smoothie Café, Bindi, The Shape of Pasta, Crook & Marker, Performance Food Group and Aptar Food + Beverage. Social Distance Shopping.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. Jim Hicks joins Nathan's Famous with over 25 years of senior management experience in restaurant operations and corporate support. More Tropical in Colorado.
Using your vehicle to deliver food or for catering, events are eligible for mileage deductions, but you can deduct either the miles you drive for business OR the actual expenses incurred. It can be included in the cost of food or recorded separately. Mileage Deductions. Keep Proper Records. Explore Business Tax Credit. Employee Tips.
Running a successful restaurant takes more than great food and serviceit requires a solid grasp of your finances. These are the fixed and variable expenses that keep your business running, from rent and utilities to staffing and supplies. You need to carefully manage your spending and reduce restaurant overhead costs whenever you can.
Promo merchandise has a longer lasting impact (recall, recognition, awareness…) than online, print and television advertising. In short, restaurant merchandise is one of the most effective ways to directly impact your restaurant’s cash flow and increase profit. That’s why we use a merch management agency called Inkmule.
Regardless of the purpose, restaurant financing is vital to running a successful business and ensuring smooth cash flow. . Nonetheless, there are several financing options at the disposal of restaurant owners and management. Explore the options from cash advances for emergency funding to capital loans for major purchases.
million in April, and the accommodations and food services sector accounted for the largest increases. Restaurant labor costs are on the rise, adding additional stress to the bottom line, on top of supply chain issues and rising food costs. Food service managers have an average of less than five years of industry experience.
million in April, and the accommodations and food services sector accounted for the largest increases. Restaurant labor costs are on the rise, adding additional stress to the bottom line, on top of supply chain issues and rising food costs. Food service managers have an average of less than five years of industry experience.
Evaluate cash flow for the first year and calculate the five-year-return to the franchise. Supply Chain Management. Vendor Management. Payouts and Commission Management. Managing the business of multiple Franchise Restaurants can be a daunting task. Cash Flow And Financial Projection. Staff Training.
5) Pick a great location When you’ve got cash in hand, it’s time to take the next step and find the spot that will soon turn into your restaurant. 8) Partner with suppliers No matter how good your menu is, you can’t prepare anything without the right ingredients and supplies. Shots showcasing your delicious food will also be a hit.
Obeying local regulations from your local food handlers’ association. Without payment processing capabilities, you will need to process transactions over the phone, which can be a costly security risk, or through cash, which is now a health risk [more on this in the accounting section below]. Completing staff training.
Cost of goods sold (CoGS): This is your cost for all food, drinks, and anything else you sell, such as T-shirts and hats. Food and drink inventory costs need to include the ingredients costs per meal or per drink. CoGS Percentage: Take your CoGS total and divide it by the food sales. Fast Food / Casual Restaurants: 6 to 9% .
Check out these restaurant consulting tips for the DIY restaurant owner or manager: The customer is always right. Are their food allergy concerns not being addressed properly? Invest in advertising is a necessity. Keep eye on cash flow. Technology is great and can really help you with restaurant management.
A Guide to a Restaurant’s Ideal Profit Margin for Food . Ideal Profit Margin for Food . The food business is notoriously tough. A Guide to a Restaurant’s Ideal Profit Margin for Food . 30% food costs . Food Trucks . 30% labor . 30% overhead expenses . 10% profit .
In practice, however, successfully managing a group of busy restaurants is an awfully tough undertaking. The metrics and calculations in this list will help you bring order to the chaos and manage the performance of each unit in the chain. In theory, it sounds easy. Why Are Metrics Important?
A protest against child labor outside a Popeyes in Oakland, CA | Fight for $15 Over the past few years child labor violations have surged across the food industry. McDonald’s later said that the 10-year-olds were the children of a manager at the restaurant, and not authorized to be in the kitchen.
As consumers ramp up their event planning, operators should continue to leverage connected technology solutions to ensure the event booking and management process is streamlined and as user-friendly as possible. 62 percent of consumers have gone out to the On Premise for food since venues reopened, and 16 percent for a drink led occasion.
Modern Restaurant Management (MRM) magazine asked restaurant industry insiders and experts for their insights on what will impact restaurants in 2020 and the response was overwhelming. Rick Camac, Dean of Restaurant & Hospitality Management at the Institute of Culinary Education. FAT Brands Chairman and CEO Andy Wiederhorn.
Welcome to the "Love" edition of Modern Restaurant Management (MRM) magazine's Research Roundup, which offers Valentine and dating trends, the State of Local Restaurants and the Brand Bowl Report. Another big non-food or flower delivery? Most ordered Valentine’s Day Items that aren’t food or flowers.
But, how have they managed to stay up and running so far? Automate Cost Allocation Many operators can attest to the numerous number of times they have struggled to create separate primary cost categories for their restaurants, especially Food, Beverages, and Supplies. Well, not anymore. Spreadsheets Begone!
Cheetah, an e-commerce platform offering contactless pickup and delivery of food and supplies, closed $36M in Series B funding led by Eclipse Ventures, with participation from ICONIQ Capital, Hanaco Ventures, and Floodgate Fund. who provided business advisory and restructuring services. Cheetah Secures Funding.
Instead of becoming “the owner” I gave myself six jobs instead: Chef, General Manager, bookkeeper, HR Director, Chief Marketing Officer, maintenance man, and Beverage Director. It’s understanding the business side of a menu and that is knowing your theoretical food cost. And I wasn’t sure why.
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