Remove Cash Management Remove Loyalty Program Remove Pricing Remove Sourcing
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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

Additionally, menu prices at casual dining establishments rose by an average of 9 percent year over year from 2021. The decreased patronage along with inflation increases running costs, which means increased menu prices. Some implemented loyalty programs to promote recurring customers. Keep Managing Costs.

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How to Write a Restaurant Business Plan [with Sample]

7 Shifts

The management team. Management team. But give an idea of some dishes or drinks with projected price points. Source: Toast. You may want to list out: Team Management. Inventory management systems. Task management tools. Manager Log Books. Your market position and competitive advantage.

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2023 Outlook: Trends and Challenges Restaurants Will See, Part Two

Modern Restaurant Management

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. Don’t be afraid to increase price.

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What Trends Are You Seeing and What Can We Expect to See More of in 2022?

Modern Restaurant Management

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.

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Different Types of POS Systems

BNG Point of Sale

They offer a wide range of hardware and software options to aid in everything from sales to management to accounting. Real-time, easy-to-change readings of stock, pricing and customers and employee statistics improve sales performance. Cash register/drawer. Business owners have many POS systems from which to choose.

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