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This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features the present and future of AI use in F&B, The Splintered Path to Purchase, the Datassential 500 Awards, and where chefs are earning six figures. At the same time, U.S. chain sales grew just 3.1 percent in 2024 — falling short of the 4.1
US Foods Holding Corp.entered into a definitive agreement to acquire Smart Foodservice Warehouse Stores from funds managed by affiliates of Apollo Global Management, Inc. NYSE: APO) (the “Apollo Funds”) for $970 million in cash. US Foods Springs into Helping Bars and Grills.
Opening and owning a bar is one of those unique life experiences; you have no idea what it will be like until you actually go for it. In this guide, we're covering everything you need to know about owning a bar to prepare as well as you can for the big opening day. How Do I Run a Profitable Bar?
Virtually all the CapEx equipment and other items in a restaurant or bar depreciate over time and must eventually be replaced. Operating Expenses (OpEx) are the recurring monthly bills a restaurant or bar usually budgets for: electricity and water, rent, food and alcohol, etc. EaaS for Big Business. That’s what you pay them for.
More than 9,500 consumers were polled for the study , which ranks the brands on three factors –consumers’ satisfaction levels with their most recent visit, their likelihood to return to the brand soon, and their trust in the brand. Since COVID, the dynamics of consumer decision making have changed.
By Heather Langley, Contributor The hospitality environment evolves at a rapid rate, and bars and restaurants must continue adapting to the ever-changing needs of the consumer. By integrating it with your other systems, you are able to grow your restaurant and manage your inventory, employees, and sales data with ease.
Modern Restaurant Management (MRM) magazine asked Burke to offer additional insights on how restaurants can best use Tik Tok in their marketing efforts. What makes Tik Tok an effective income generator, particularly for cash-strapped smaller restaurants? Yes, your videos need to be of quality, with aesthetic appeal and good resolution.
Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. " – John Oakes, Revenue Management Solutions CEO. Slow movers tie up inventory -and the cash needed to by that inventory. For part one, click here.
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?” Restaurants will always be popular for date nights, and restaurants with bars will always attract the thirsty.
A tarp, tent, or other quickly erected structure is a good remedy for now, but not a long-term solution. In the future, restaurants will need outdoor dining spaces that satisfy consumers’ changing needs for safer in-restaurant dining experiences while maintaining their comfort. Bar Louie, Indianapolis.
This instability will push operators to trim costs by shortening menus and investing in labor-saving technology to free up cash for wage increases. A short menu can slim down the food costs through streamlined inventory management, as well as reduced food waste. Pizza companies have long managed their delivery services independently.
and will enable TouchBistro to fully integrate customer loyalty and guest marketing into its all-in-one point-of-sale (POS) and restaurant management platform. “Consumers can now enjoy TYGA BITES at home through our partnership with Grubhub, offering contact-free delivery for everyone’s added comfort and peace of mind.”
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. COVID-19 Consumer Dining Trends. Mixed take-out bag. Restaurants vs. delivery services. Supporting local.
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? They are comparing the experience to Amazon, and anything that falls short of that level of ease and experience disappoints consumers.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features Grubhub's State of the Plate 2020 trend report, the fragility of "open," di g ital resilience and brand intimacy. 65 percent of consumers ordered food and 11 percent ordered alcohol over the past two weeks. Financial Trends Insights.
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.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features COVID-19 crisis statistics and surveys about third-party delivery, guest expectations, QSR reliance and more. Consumer interest in restaurants dropped by 52 percent from March 10 to April 19. Restaurant Industry Consumer Perspectives.
The good news : The world is not going to end! Most restaurants and bars got caught with their pants down. They didn’t have adequate cash reserves and lived for the weekend sales to keep them going. We should be managing our inventory better. It’s not a good feeling. I did not see this curveball coming.
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. While this could be a rewarding venture, opening a bar is not exactly the same as opening a food business. How profitable is a bar?
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.
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.
To add resources to these guides, reach out to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com with news. Best practices for calculating cash flow. based strategy and design firm, just launched a free pandemic relaunch toolkit for restaurants and bars.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news of Drinksgiving and Thanksgiving trends, FSR challenges, and "out-of-the-box" dining habits. Tech Adoption 65 percent of restaurants adopted new technology to manage labor, though 27 percent still use manual scheduling.
In this edition of MRM News Bites, we feature the Takeout For Good Effort on June 2 and a host of products designed to help restaurants keep guests and staff safer as they reopen. Takeout For Good. GroupRaise is inviting restaurants across the country to join their Takeout For Good initiative happening on June 2.
It can help streamline cash flow and reduce overhead costs, all while ensuring compliance with ever-changing NYC tax regulations. By optimizing cash flow and improving cost-efficiency, outsourced bookkeeping can boost profit margins and reduce unnecessary expenses. The benefits are clear.
To add resources to these guides, reach out to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com with news. Best practices for calculating cash flow. based strategy and design firm, just launched a free pandemic relaunch toolkit for restaurants and bars.
To add resources to these guides, reach out to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com with news. Checklist app automates daily food safety and operational task management as well as regular maintenance and audit procedures. ” The BOHA!
Uncovering consumer confidence and preferences in an ever-shifting market as a result of COVID-19 restrictions, Restaurants Canada is shining a light on what restaurateurs and chefs can expect with the release of the 2021 Discerning Diner Report. . Despite these struggles, Alignable also learned in its poll that the No.
Sample Bookkeeping for Restaurants and Bars: In the hospitality industry without precise record-keeping, even the most successful establishments can find themselves adrift, struggling with cash flow, compliance, and ultimately, profitability. Bookkeeping is the often-unsung hero, forming the bedrock of smart financial management.
Unlike traditional setups, these systems provide real-time access to data, seamless updates, and remote management—making them ideal for today’s fast-paced food service environment. In this post, we’ll explore why SaaS POS is not just a trend but the future of restaurant management.
Other bars and restaurants tout the benefits of increased safety and cleanliness (more on that below). Of course, it’s essential for most businesses to accept cash payments in some situations. Additionally, cashless payments offer improved security, as there is no risk of theft or loss associated with physical cash.
Modern Restaurat Management (MRM) magazine is collaborating with the team at MarketScale on The Main Course , a podcast that aims to explore the intense and competitive modern restaurant industry. "We Barbara Castiglia , MODERATOR – Modern Restaurant Management. They both went through a management training program.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. ICV will combine the remaining DRH and JK&T Wings sports bars, which it acquired in October 2019, making the combined company the largest franchisee of BWW. per share in cash.
The Distilled Spirits Council of the United States (DISCUS) announced the formation of the Hospitality Recovery Coalition with the goal of supporting on-premise partners, including restaurants, bars and distilleries, facing harsh economic impacts due to the COVID-19 crisis. Unfortunately, many already have.
"It's incredible and heartwarming to see this grassroots effort become such a unifying initiative, with so many individuals and restaurants coming together for the good of the entire industry. . "When we originally kicked off the campaign, we had no idea that it would resonate on such a global scale," said Helen Patrikis. "It's
To help managers limit the number of people in their store at one time, party sizes and shopping windows will vary depending on the business. “Consumer habits are shifting with over 400% increase in usage of our delivery and take-out feature on our platform in the last week. .
Modern Restaurant Management (MRM) magazine's People & Places column features news of company hires and promotions, charitable efforts and product introductions. We love serving our freshly prepared Asian dishes to everyone, and are going the extra mile to spread goodness and create deeper connections. Colorado Blvd.
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. Discovering new ways to reduce costs in restaurant management can boost profits. Let’s dive into what really works in today’s competitive landscape.
Key Takeaways Restaurant bookkeeping requires specialized tools and systems, including management software, POS systems, and a well-structured chart of accounts. These hospitality accounting services offer hospitality finance solutions, vital for accounting for restaurants and bars.
Here’s how you can cash in on this trend: State Regulations Vary. Wine, beer, and spirits can be sold to-go, but for the sales to be legal, the container must be opened and then resealed prior to being provided, even if no actual product has been consumed. Is your software set up to manage pickup and delivery for alcohol sales?
As a bar or restaurant owner, you know that your night isn’t over when the last customer leaves. When the door closes and the lights come back up in the dining area and bar, there are still tasks to complete before the night is truly done. Taking inventory and reporting low-stock items to the chef or manager.
Governments all over the world have been ordering restaurants, bars and other food businesses to close up shop - until further notice. So how can the food industry try to keep its head above water during these difficult times, and how can consumers continue to support their local food and hospitality businesses? Do a “spring cleaning”.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. Virtual Barbecue Pit. In addition to virtual kitchens meeting lower labor costs, they also offer a fast-track to opening, with a location able to begin serving in just one month.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. In addition, Taco John’s is rolling out a systemwide remodel program to match its updated branding, driving its popularity among young consumers. The nearly 3,000 sq.
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