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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 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. The Main Course. Space is limited, so click here to register.
In this edition of MRM Research Roundup, we have news on understanding customer loyalty, beverage insights, restaurant supply loyalty, the influence of discounts, the state of payments and the evolution of gift cards. Customer satisfaction has traditionally been the main driver of loyalty. The Value of Trust.
TouchBistro acquired Boston-based TableUp, a provider of loyalty and marketing solutions for the restaurant industry. 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. ” Tyga Bites Launches.
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. This sentiment was most prevalent with millennials, with 43 percent reporting an increase in loyalty.
For the restaurant industry, it can be challenging to manage. On the other hand, it can also mean additional complications like cold weather shutting down your outdoor spaces, employees going on vacation, grumpy guests, and unpredictable foot traffic. Use the holiday season to grow your loyaltyprogram.
43 percent plan to add an outdoor on-site dining space. "What But despite these concerns, 46 percent of people noted they will eat out daily to several times a week in coming months and showed a growing loyalty to their favorite brands. 46 percent would love to manage their dietary preferences with their favorite establishments.
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.
At the same time, restaurants should reimagine their loyalty engagement strategies and expand the ways in which consumers can earn rewards. Eighty-five percent of all restaurant loyaltyprogram users want to interact with loyaltyprograms via smartphone. Among the report highlights: Starbucks cashes in.
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.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. We are offering a groundbreaking conversion opportunity with our new Fazoli’s 2020 Franchise Incentive Program. Virtual Barbecue Pit. ” Ice is Doing Nice.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features the surge in online ordering, early returns on restaurant recovery and what customers want and expect from restaurants. Restaurant companies held on to most of their managers. Adoption of Restaurant Online Ordering is Growing.
Ike’s locations have industry-leading average unit volumes, which have only gotten stronger since the company overhauled its marketing technology stack, including an upgraded loyaltyprogram, a new website and easier online ordering. Slim Chickens continued expansion in Oklahoma, with its newest opening at 6731 Northwest Cash Rd.
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.
If all things and planning goes right, opening and managing a restaurant can be very fruitful, Here I am sharing a complete guide on how to make a new restaurant successful. Promotion of a new restaurant is one of the important tasks of the restaurant manager. The customer loyaltyprogram provides valued customers.
Changes in restaurant layout to maximize outdoor space, plus adding temperature controls. Increased focus on restaurant loyaltyprograms or custom mobile apps. Ultimately, managing your vendor relationships is an area of risk management. Changes in restaurant layout to minimize indoor dining rooms.
We’ve reimagined our drive-thru model, introduced new kitchen technology to improve throughput, and strengthened our loyaltyprogram to keep customers engaged. This surge in off-premise orders forced restaurants to optimize their operational workflows, from kitchen management and packaging to delivery logistics.
While those classic cash registers did wonders back in the day, point-of-sale (POS) systems have now become the industry standard for small businesses and restaurants. Alongside transactions, modern POS systems run software applications to help businesses manage their employees, reach new customers, and encourage existing ones back in.
If all things and planning goes right, opening and managing a restaurant can be very fruitful, Here I am sharing a complete guide on how to make a new restaurant successful. Promotion of a new restaurant is one of the important tasks of the restaurant manager. The customer loyaltyprogram provides valued customers.
When it comes to getting your new restaurant off the ground, the rule of thumb is investing in new equipment, or just managing your cash flow for the next few months, you should make sure you have a reliable source of funding. Average Restaurant Revenue for a Second Location. Again, all of this was pre-COVID.
. “They’ve had to basically adapt and change their entire business model,” says Yang Yang, an associate professor in the School of Sport, Tourism and Hospitality Management (STHM) at Temple University. Theme parks and other outdoor entertainments. Beauty care, SPA, and fitness center. Shopping malls. Night clubs/bars.
introduced its "Make It This Winter" platform, which offers a collection of resources, including one-on-one consultations with US Foods experts, informational webinars, new outdoor dining products, and updated online materials and tools for restaurant operators to tackle the ongoing challenges brought on by the COVID-19 pandemic. "With
Meanwhile, previous retail categories that gained traction, including hunting and fishing supplies, and outdoor gear, are starting to decline in consumer interest, down 40 percent and 29 percent. The new franchise program is now available nationwide. Avoid unnecessary interactions and touching menus, credit cards, and cash.
But it’s worth remembering that while some people have cash in their pockets and want to treat themselves, many have been hit financially by COVID-19 and will be more cautious. Another growth area could be packaged cocktails, said Andrew Hummel, CGA’s client solutions manager. Physical service is still valued.
With just under 50 percent of people planning to host their event outside, restaurants, hotels and venues with an outdoor space should begin promoting these offerings through their marketing and social channels. 70 percent of survey respondents are planning a birthday party, 47 percent a holiday party and 30 percent a wedding.
And many chains have turned to apps and loyaltyprograms to ideally streamline the orders coming in. Many restaurants are still doing their best to stay afloat in the pandemic — and even in good times, small businesses don’t always have cash reserves to pay for upgrades and remodels. As always, there are obstacles.
Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their opinions on what we can expect in 2021. And while they have little choice but to embrace third-party delivery services, doing so puts another brand in control of their customer and risks eroding customer loyalty. Here are their responses.
“Team member tenure at White Castle is unprecedented in our industry, and that loyalty absolutely goes both ways.” In early September, the business announced a month-long program to thank its own team members who opt for the vaccine: $100,000 in cash prizes. Nathan's Famous in France. Nathan’s Famous, Inc.
But, how have they managed to stay up and running so far? Additionally, the extra cash flow can make a difference in the running and management of your business. Another effective marketing strategy you can use to keep up with this new normal is by welcoming your patrons with various promotions and loyaltyprograms.
For the respondents who reported having outdoor seating (or planned to add outdoor seating soon) and whose climates allow them to seat people outdoors nine or fewer months of the year, the decision to “weatherize” the patio for the colder weather was split. Patio dining in colder weather.
Department of the Treasury, issued new and revised guidance for the Paycheck Protection Program (PPP). This guidance implements the Paycheck Protection Program Flexibility Act (PPPFA), signed into law by President Trump on June 5, 2020, and expands eligibility for businesses with owners who have past felony convictions.
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