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2024 Outlook: Restaurant Trends and Challenges, Part Three

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. This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits.

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The State of Full Service Restaurants

Modern Restaurant Management

Seventy-four percent of full service restaurants (FSRs) managed to maintain or increase their sales during the pandemic; however, profit margins in 2021 declined to 10 percent, compared to 12 percent in 2019, according to third annual State of Full Service Restaurants Report released by TouchBistro.

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Inflation Takes a Bite at the Restaurant Industry; How Can Operators Cope?

Modern Restaurant Management

According to a poll from Ipsos, meals purchased at restaurants and take out foods are usually the first extraneous expense to be cut by consumers. In the context of inflation, however, it is a little more complicated than selecting an option from the myriad of food delivery partners and switching to home delivery.

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IN CHALLENGING TIMES DON’T MAKE CLASSIC BUSINESS MISTAKES REMEMBER THE TOP ELEVEN

Culinary Cues

Shake off the dust of complacency, press the wrinkles out of that chef coat, polish those shoes and face the challenges straight on. Send out information about your current offerings and your future plans through effective email blasts. You can do this! Engage in social media even more than before – post positive info daily.

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Everything You Need To Know About the Increasing Role of AI in Restaurants

Modern Restaurant Management

– Team Bots’ It sounds like something out of a science fiction movie, right? AI and ML are buzzwords and often sound out of reach of an average restaurateur. AI is a program developed by humans to respond to a set of instructions under specific environments. But they have tons of cash to burn on such gimmicks, right?

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The Complete Guide to Creating a Winning Restaurant Newsletter (+Real Examples)

7 Shifts

Designing newsletters and using an email service provider to send them out can cost between $10-$100 per month for new outlets. Now that you know what email newsletters can do for your restaurant, it's time to create a newsletter that wins hearts and sets the cash register ringing. Before you set out to do anything, plan accordingly.

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How to Write a Restaurant Business Plan [with Sample]

7 Shifts

Taking the time and energy to create one proves to others (and yourself) that you're serious about the venture. The management team. Check out these successful restaurant ideas. Management team. Explain how your restaurant will stand out in a sea of competition. Your market position and competitive advantage.