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The Benefits of Owning a FranchiseRestaurant Business. We discussed in our earlier blogs why it is a great time to buy a food franchise in 2020 through 2021. The COVID-19 pandemic is helping boost franchise sales as unemployment grows in the restaurant industry and people are reassessing new career options.
With all the trouble the pandemic has given the restaurant industry these past couple months, you might be surprised to hear that restaurantfranchising opportunities have never been stronger. Up-and-coming restaurants like Fajita Pete recently announced it will triple locations from their new franchise deals (2).
For additional resources, click COVID-19 Survival Guide for Restaurants and MRM Restaurant Survival Guide, Second Course and MRM Restaurant Survival Guide, Part Three and What’s Next?: MRM Restaurant Survival Guide Updates.
And while a little competition never hurts, continuing investments in your catering program will be paramount to your business’s success. Here are four strategies you can use in your existing catering business to gain a competitive edge in the crowded catering landscape. by Bora Kang. EXPLORE NEW CATERING VERTICALS.
Before restaurants can record a profit, they need to take several expenses into account—inventory, kitchen equipment, building utilities, and of course, labor. What is Restaurant Labor Cost Percentage? Benefits (Health Care, Employee Discounts, etc.).
This marked a significant milestone, as the restaurant industrytraditionally underrepresented at such eventsemerged as a focal point of technological innovation. More importantly, the technology decisions restaurant leaders make today will determine which brands thrive over the next decade.
Restaurant management is a complex task requiring a delicate balance of managerial skills and software. When either is lacking, it’s hard to stay competitive and grow your business. Technology can help, but knowing how to get the most out of it is also important. Must-Have Restaurant Management Software Features.
Fast-serve restaurants are quite a force in the food industry and don’t appear to be dwindling. Even during difficult economic times, people still enjoy the convenience and the lower price of fast-serve restaurants compared to more formal full-service restaurants. Use Promotions to Attract Customers.
Restaurant marketing has changed dramatically over the past 20 years. We’ve compiled some of the most effective restaurant marketing tips to help you win your market. We’ve compiled some of the most effective restaurant marketing tips to help you win your market. 5) Extend Your Reach With A Food Truck.
“Even with today’s economic headwinds, franchised businesses continue to grow, providing more good-paying jobs for their employees, and serving their local communities,” said International Franchise Association (IFA) president and CEO Matt Haller. How do restaurantfranchises work?
As a restaurant finance or accounting leader, you and your team can play a unique role in supporting your operations team. Yourrestaurant group’s profit margin depends on two areas: top-line revenue and controlling expenses. Why restaurant finance should guide restaurant operational efficiency.
Becoming successful in the restaurant industry is difficult but staying ahead of operational challenges is even harder. To prepare for the new year, restaurant owners, operators, and managers need to start planning now. Employees determine the customer service experience in a restaurant. Finding and training staff.
It’s common that a single-location, small-sized restaurant may start the business with generic accounting software, like QuickBooks. But for multi-unit restaurant groups, generic accounting software such as QuickBooks presents challenges. First, your day-to-day bookkeeping tasks become complex.
Certainly, 2020 brought challenges for the restaurant industry that most owners and operators didn’t see coming. COVID-19 has prompted massive changes in howrestaurants operate. Other restaurants had to shift operations to a limited-capacity model, adjusting labor and food costs to match new sales levels.
Is yourrestaurant doing well and you feel like you are ready to expandyour business, but not sure how? Check out this Need to Know Guide on Restaurant Expansion for Restaurants. Make It a Part of Your Business Plan. This might seem too early, but it really isn’t. Can I Handle All the Growth?
Here are some little known tax benefits of franchising to keep in mind. Here are some little known tax benefits of franchising to keep in mind. You Can Deduct Franchise Fees. If you are a franchisee, you can deduct the fees such as the initial franchise fee and any annual residuals you pay to license yourfranchise unit.
Restaurant leaders today find themselves in a rush to optimize every individual part of their operations while overcoming cost pressures, supply chain challenges, and technology proliferation. Findings from our recent technology survey make it clear that the restaurant industry is collectively embracing efficiency at a whole new level.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features the state of flavor, COVID-19 restaurant operations, public acceptance of delivery charges, the best of the best and the most allergy-friendly restaurant chains. DoorDash Deep Dish.
It was served with accompaniments, one of which was an asparagus relish; at another table, the server was explaining how he’d seen the chef arranging the asparagus on her bread like dragon scales while testing out the recipe. Before each of 10 courses, the staff explained the source or inspiration for everything that was served.
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