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After a rough few years due to the pandemic, restaurant workers now have a reason to celebrate: Their average hourly earnings have grown 66% from 2017 to April of 2024, according to data from the Square Payroll Index , compared to 40% growth for retail workers. Weekly : With this schedule, paychecks are cut every week.
My business plan laid out my steppingstones: open three artisanal ice cream shops, create synergy, and ride out the cash flow. Increased interest from wholesale buyers or retailers requesting larger orders. Tying up all our cash into aging inventory was not going to work for us.
While many restaurants have the “rear-view mirror” covered with staff accountants handling day-to-day transactions, bank reconciliations, or payroll, they often lack the strategic finance “co-pilot” who helps owners and other senior management focus on high-impact decisions that create future value.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features the present and future of AI use in F&B, The Splintered Path to Purchase, the Datassential 500 Awards, and where chefs are earning six figures. At the same time, U.S. chain sales grew just 3.1 percent in 2024 — falling short of the 4.1
Many are facing the difficult decision to raise their retail prices , seeking new ways to streamline operations and managecash flow more effectively. For many, visiting a coffee shop may become less of an affordable luxury, as they pivot to at-home consumption to manage monthly budgets.
Coffee prices have soared over the past few years, pushing roasters, independent cafés, and specialty coffee retailers into challenging territory. I spoke to Darleen Scherer at Black Sheep and Kirk Pearson at Project Zero Coffee to discuss the pros and cons of raising retail coffee prices and how price hikes could impact consumer behaviour.
With margins and cash flow stretched thin, a machine that just roasts coffee is no longer enough; today’s roasters are increasingly demanding more from their equipment. Inflated pricing has left many coffee roasters with shrinking cash reserves, making it difficult for them to continue operations as usual.
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. 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.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news of dramatic Valentine's Day shift, best food scenes, and the evolution of c-store foodservice. restaurants and retailers are facing a challenging 2025, according to a recent presentation by Fitch Ratings at the 2025 ICR Conference. .
For roasters and coffee brands, it means raising retail prices, and their customers feel the pinch. Brands like JM Smucker, which owns Folgers, Dunkin’ at Home and Café Bustelo, are warning of further retail coffee price increases in August, following earlier hikes in May, June, and October last year. or US $0.50
As we move through 2025, this integrated system enables restaurants to manage every transaction—from online orders to in-store purchases—through a single, seamless platform. A restaurant POS system is a platform that helps manage sales, payments, inventory, and customer transactions. Learn more at Lavu.com.
A modern Point of Sale (POS) system is more than just a cash registerits the central hub that powers day-to-day business operations. From processing payments and managing inventory to tracking sales and streamlining service, POS systems play a critical role in improving efficiency and customer experience. system uptime.
Meanwhile, operating costs – from labour to rent to packaging – continue to climb, making cash flow management even more challenging. In turn, these operators may have shifted away from long-term producer and trade partners in favour of short-term buying options that help manage costs more efficiently.
Well cover everything from automation to IT management, with examples tailored for POS users. Pull sales reports to see if slow days are dragging down cash flow, or check inventory logs to spot overstocking issues. Tweak your inventory management to match. Got a trained stand-in if your managers out?
This surge in off-premise orders forced restaurants to optimize their operational workflows, from kitchen management and packaging to delivery logistics. Furthermore, digital tools for inventory and labor management became crucial for navigating supply chain disruptions and staffing challenges.
million (subject to adjustment for any cash, indebtedness, and net working capital), which was principally paid in shares of PAR common stock. Forward-looking statements contained in this press release are based solely on the information known to PAR Technologys management and speak only as of the date of this press release.
Cornish Bakery has identified nearly 350 new locations in tourist hotspots and high streets, and has appointed its first property director to secure prime retail sites as it aims to expand to 400 UK stores. Kansas City, US) Thu, 5, Jun – Löfbergs appoints Henrik Biilmann as Managing Director of Peter Larsen Kaffe.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features trends in off-premise, coffee wars, the AI lifeline, the return of lunch, and how teens spend their dollars. alcohol products from retail stores. They then sell the reservations on unauthorized online resale sites and social media.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news of how restaurants are a saving grace for malls, the economic impact of Taylor Swift in town, and how influential reviews can be. Anchor retailers like Macy’s, Target and Nordstrom all landed in the top 25.
Roasters and importers now operate on thinner margins than ever, forcing them to raise retail prices , which inevitably reshapes consumer behaviour. Despite record-high prices, the financial benefits remain concentrated primarily at the roaster and retail levels.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news of Drinksgiving and Thanksgiving trends, FSR challenges, and "out-of-the-box" dining habits. Tech Adoption 65 percent of restaurants adopted new technology to manage labor, though 27 percent still use manual scheduling.
Key Takeaways Accounting and bookkeeping services in UAE offer detailed financial record-keeping, cash flow management, and compliance with local taxation laws. Specialized hospitality accounting services cater to unique revenue streams, manage high volume transactions, and ensure compliance with industry regulations.
🔑 The Fix: Smart inventory management keeps track of every item, auto-replenishes stock at optimal levels, and reduces waste. Without real-time visibility, operators are left guessing—and those guesses cost real money. The result? Less overspending and no last-minute supplier scrambles.
It’s relevant today because it helps restaurant leaders contend with enduring issues like crisis recovery, demand fluctuations, food waste, keeping the human touch, managing change, and retaining employees. In this excerpt, Gaudet describes learning how the new system would improve the work of managers, baristas, and support partners.
To recruit new talent and alleviate strains on current staff, restaurant managers are looking for new ways to streamline their operations and enhance the employee experience. A mobile employee experience has now become table stakes in seamlessly recruiting, onboarding, training and managing staff. Embracing Digital Transformation.
Last year, one of the first brands to go cashless, Sweetgreen, changed its policy to accept cash at all its locations. The quick-service restaurant (QSR) started accepting cash after Amazon confirmed it would take cash payments in all of its previously cashless Amazon Go stores. To eliminate cash is to eliminate customer choice.
Some examples could include: healthcare organizations, organizations with political or ideological agendas, news media organizations and businesses that deal with significant quantities of cash. Managing foreseeable risk = covering the basics. Managing foreseeable risk = covering the basics.
Nowadays, though, owners and managers unable financially to bring back their full complement of staff are relying on the technology to facilitate almost everything with a food order, except make it. Many kiosk manufacturers don’t offer kiosks with cash options. Here’s how: Augmenting the Workforce.
Mobile Order Applications Mobile smart order apps for waiters help to speed up the service and manage the orders right at the guest’s table. A mobile order app will enable the clients to conduct restaurant management and delivery systems automatically, faster, and completely online with the help of new innovative solutions.
.” The cashless multi-vendor open-air gastronomic market has two locations in Prague, and a total of 34 independently operated restaurants, bars and retailers. That being said, we have been starting to plan responsibly for impacts in Europe, where we see food retail starting to be affected, “ he continued. Cash is dirty.
“Cash or card?” Although the average American still carries cash in their wallet and uses it for nearly one-third of transactions, cashless restaurants are on the rise. Some restaurants even offer discounts for cash payment. Reasons to Go Cashless.
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.
Traditionally, this has meant that the manager comes out and apologizes to the guest, then offers a discount or a comped meal. Also, as of 2019, up to 35 percent of in-person restaurant purchases were paid for in cash. No one was even eating in restaurants, let alone handing cash or a credit card to a server.
Cybersecurity for restaurants is more important than ever because IT is an increasingly important part of both the restaurant sector and of retail more generally. Leading restaurants are teaming up with tech brands in order to offer their customers a better service, but many remain unaware of retail’s unique security challenges.
Both brands take a people-centric approach, intentionally embedding soft skills like communication, teamwork, and resilience into hiring, training, and management practices. Being skilled at running a grill or cash register is certainly needed to get the crew over the hump. Ultimately, soft skills are relationship builders.
In a recent survey of restaurant owners and managers, 85 percent of respondents reported an increase in comparison shopping and just 15 percent of respondents said they remain loyal to one restaurant supply store. The survey was conducted by Credit Key, a provider of B2B e-commerce payments solutions. The Appeal of Coupons and Discounts.
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.
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.
” said Molly Burke, senior retail analyst at Capterra. Modern Restaurant Management (MRM) magazine asked Burke to offer additional insights on how restaurants can best use Tik Tok in their marketing efforts. What makes Tik Tok an effective income generator, particularly for cash-strapped smaller restaurants?
Effective retailmanagement requires a vast array of skills. In a broad sense, those skills boil down to managing your time, managing your staff, managing their training, and managing change. Retailmanagement 101 Master these skills one at a time. Retailmanagement 101.
Are you paying too much for your website, your payment solution, or your inventory management tools? Retailers sell things they love to produce and curate. Not all of these projects require significant investment, and it’s likely that some leg work today could save you money down the road.
To add resources to these guides, reach out to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com with news. Checklist app automates daily food safety and operational task management as well as regular maintenance and audit procedures. ” The BOHA!
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.
PathSpot, creator of a real-time hand hygiene management system that protects against the threat and spread of illness with a hand scanner that tracks handwashing frequency and effectiveness, announced the closing of $6.5 PathSpot Secures Funding. million in a Series A round led by Valor Siren Ventures I L.P. (VSV),
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