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Running multi-unit restaurants demands more than exceptional food and serviceit requires sophisticated financial leadership to ensure long-term success. They work closely with management to implement data-driven solutions that boost bottom-line performance.
Youre not just managing food and staff, youre battling slim profit margins, high operating expenses, and constantly changing customer preferences. Poor Financial Planning The Issue: Underestimating startup costs, no cash flow buffer, and unclear budgeting. Running a restaurant is one of the most rewardingyet riskyventures out there.
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. marketing retail News Heather Lalley is the managing editor of Restaurant Business, Foodservice Director and CSP Daily news. By Heather Lalley on Jun. Sign up here.
Small pilots expose weaknesses, risks and required iterations so leadership can determine if initial plans need adjustment, delay or abandonment. Private equity investors particularly pressure leadership for rapid revamps and location expansions that often degrade original hospitality vision and culture over time.
Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global
This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Effective Cash Flow Management 🔑 Learn strategies to manage your cash flow efficiently, ensuring liquidity and financial stability.
Securing more resources guarantees that your restaurant can manage more demand without compromising quality, whether it comes to equipment upgrades, automation investments, or production facility expansion. A well-run cash flow plan helps companies seize chances for expansion without second thoughts about finances.
The culmination of those traits, from empathy and leadership to creativity and problem-solving, gives your culture personality and a unique life of its own, which keeps customers feeling valued and employees engaged—and them all coming back for more. Still, the heartbeat of a thriving restaurant is its people.
While franchisees often have recurring check-ins with their franchise business consultant or other similar advisor from corporate, a call from a member of the brand’s leadership team to see how they’re doing and how the brand can better support them will go a long away in these difficult times.
Cash is dirty; and 4) we will soon launch bundled food delivery, acting as a marketplace for cloud kitchen delivery. We are taking other precautions and provide a sanitary training session for our tenants and clear communication with our tenants via our digital property management system (PMS). Cash is dirty.
The following provides some “food for thought”, maybe even a “look in the mirror” checklist for those who are drifting away from those initial goals. [] THINKING THEY CAN MANAGE THROUGH OTHERS. Ignore them and they will find someone else to pay attention. [] CONFUSING LEADERSHIP AND MANAGEMENT.
Cash handling : How to operate a cash register, manage transactions, and process payments. Communication : Your restaurant wont survive without clear communication between all employees, from managers to those on the floor. Menu knowledge : Learn the entire menu and how to upsell and cross-sell items on that menu.
Refranchising involves the purchase of a corporate-owned location that is already constructed, operating and has existing cash flow. Refranchising enables a franchisee to take over an existing business without the startup timeline and headaches, while also giving the franchisor the bandwidth to shift their focus to managing the overall brand.
As the Coronavirus crisis continues, Modern Restaurant Management (MRM) magazine asked industry insiders what best practices restaurants should have in place for social distancing, as per CDC guidelines. That includes working with the town to amend certain by-laws and have an open dialog with local leadership. Pellegrini, Jr.
Each of those “departments” will require some level of unique kitchen management (sous chef) and specialists to support the uniqueness of function. As long as the checkbook has a credit balance they are in good shape (until predictable sales slump and cash flow turns the corner).
Due to the Covid-19 outbreak effect on the restaurant industry, Modern Restaurant Management (MRM) magazine is compiling a list of resources available for restaurant owners, operators and managers. To be added to this guide, reach out to Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. Sign up here.
For a deeper dive into brand messaging, strategy, and authenticity, creating unified guest experiences, and the orchestration of physical and experiential touchpoints, Modern Restaurant Management (MRM) magazine reached out to The Plaid Penguin’s Founder and Sir Idea Man Joe Haubenhofer. What are the keys to a brand remaining authentic?
That led to an employee shortage, especially for high-quality and experienced management positions. People appreciate contactless service and it has become the new norm to order differently than at the front counter of a restaurant with an employee at a cash register. Technology has become a solution in staffing as well. .
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.
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. This year’s Neighborhood to Nation Contest will double the number of winners to award 20 prizes of $5,000 in cash along with a robust marketing package.
Delivery, scheduling, inventory management, reservations, and guest management have seen technological advancements over the past few years, and it's just the beginning. Use order information with inventory management software for smarter purchasing. Restaurant Task Management. Restaurant Inventory Management Software.
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.
Our CEO, Jordan Boesch, sums it up perfectly: “This report answers a lot of the questions that restaurant owners and managers have about why their workforce might be dissatisfied and why they may be experiencing unhealthy rates of turnover. Camaraderie is just as important as cash. Managers matter more than you think.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. Ira Moreland, Managing Director of ICV, said, “We are very pleased to complete this transaction and are enthusiastic to deploy our expertise to help grow the Buffalo Wild Wings brand.
Restaurant management is one of the best pathways for servers and hosts looking to make the next step in their hospitality careers. If you see yourself managing a team and overseeing operations, the path of a restaurant manager may be fulfilling. What do restaurant managers do? As of 2024, they make around $26.42
The management team. Management team. Here are examples of each: Strengths : Combined 30+ years of restaurant experience from the leadership team. You may want to list out: Team Management. Inventory management systems. Task management tools. Manager Log Books. Section 2: Company description.
But it’s not just newbies to franchising – or restaurant franchises themselves, for that matter – that need to stay on top of the management intricacies that characterize the business. D&O covers leadership defense costs and damages, particularly in play against franchisee litigation.
This little devil matters because it eats away at your service quality , drains your cash flow , and leaves your customers wondering why they never see the same smiling faces twice. New managers? Management Practices Bad bosses are like rotten tomatoes they spoil the bunch. Bad bosses, trash schedules, and peanuts for pay?
He never yelled or raised his voice, instead relying on sous chefs and managers to keep us in line. I knew there was a deep labor pool, so when managers told me I was easily replaceable, I believed them. There was the Michelin-starred restaurant where the somewhat sullen chef ruled dinner service by fear and intimidation.
Modern Restaurant Management (MRM) magazine's People & Places column features news of company hires and promotions, charitable efforts and product introductions. Leonard and Poelma will continue to report to Ray Lombard, Executive Vice President, Supplier Management and Business Development. "Cindy
This could mean providing clear pathways for promotions and leadership opportunities for employees seeking to move up within the business. When employees are given opportunities to set and achieve goals, they are more likely to be invested in their job.
SALIDO leverages design, data, and workflow management to optimize both front- and back-end operations. ” Following his transitional leadership role at SALIDO and NAB, Chowdhury will focus his efforts on the Bowery Engine, an early stage direct investment and incubation company that previously supported SALIDO.
The purchase price of $42 million for Restaurant Magic will be financed primarily through cash and equity. Restaurant Magic’s software leverages business intelligence and automation technologies to decrease food costs, manage labor and improve overall customer service. Illes Foods' Fourth Generation CEO.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. She has also held leadership roles at Sony Ericsson Mobile Communications, PepsiCo, and Frito-Lay. Send news to Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com.
” All of the new franchisees cited Bad Ass Coffee of Hawaii’s leadership team, rejuvenated brand, product quality, commitment to the community and the strong feeling of ‘ohana as deciding factors in their decision to franchise. Slim Chickens continued expansion in Oklahoma, with its newest opening at 6731 Northwest Cash Rd.
“This acquisition is another demonstration of our strategy to acquire new companies to enhance product capabilities and extend our leadership in the vertical industries we serve,” said NCR President and Chief Executive Officer Michael D. NCR purchased Zynstra for approximately 100 Million British Pound Sterling.
parent company of fast-casual restaurant chain The Habit Burger Grill, for approximately $375 million in a cash transaction. and will continue to be managed by Russell Bendel, president and c.e.o., ” Grimstad is currently the chief manager of C. Best Buy Jessica Stevens, Senior IT Deployment Manager. Brands, Inc.
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?” In order to compete, restaurant brands need to be equipped with the leadership and capabilities necessary to adapt to the latest tech trends.
” As a Feeding America Leadership partner, the company has ongoing partnerships with a variety of food banks across the country. Contactless Order & Pay provides operators with a safe, contact-free solution for in-service experiences, helping them manage labor costs and keep their employees safe. It's truly life-changing.”
Like a master chef expertly balancing flavors in a gourmet dish, a hospitality CFO consultant skillfully manages a company’s financial health, ensuring long-term viability and growth. They employ hospitality CFO consulting to provide financial leadership.
Modern Restaurant Management (MRM) magazine quizzed Anderson and Sr. We had leadership from the heart program, Hog Heaven University, a certified Pitmaster program and a train the trainer program. Just a few years ago when you talked about technology, you were talking about your POS system— basically just your cash register.
Brands acquired all of the issued and outstanding common shares of The Habit Burger Grill for $14 per share in cash or a total of approximately $375 million. Brands funded the transaction using cash on hand and available borrowing capacity under its credit facilities. Brands’ portfolio of global restaurant brands.
Restaurant management systems have evolved rapidly over the past couple of decades. Table of Contents What is a restaurant management system? How does a restaurant management system work? A restaurant management system, or RMS, is software designed to streamline restaurant operations and simplify restaurant management.
Restaurant management systems have evolved rapidly over the past couple of decades. Table of Contents What is a restaurant management system? How does a restaurant management system work? A restaurant management system, or RMS, is software designed to streamline restaurant operations and simplify restaurant management.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. The Coolgreens leadership team is adaptable and full of very progressive thinkers. Virtual Barbecue Pit. Taco John's Opens Support Center. ” Peace, Harmony and Chicken.
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