Modern Restaurant Management

DECEMBER 22, 2020

Cash Flow Is Top of Mind. No surprise during an economic crisis, over 81 percent of restaurants and other business owners are prioritizing cash flow management and are identifying ways to cut back spending and increase sales, namely by moving services online. Changing their hiring and recruiting processes (47 percent).

Small Business 179

Small Business Cash Management Webinar Recruiting 179

Modern Restaurant Management

OCTOBER 19, 2023

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. Brokers are having to go to the excess and surplus market to get the franchisor-required limits.

Insurance 100

Insurance Franchise Franchising Document 100

Modern Restaurant Management

APRIL 11, 2022

Facing multiple headwinds, restaurant owners and management must employ the most effective tool available: effective communication. A good starting point for addressing many issues is use of a manager’s log. And don’t forget a long-time, well-established business management tactic: the employee suggestion box.

Healthcare 203

Healthcare Cash Management Social Media Communication 203

7 Shifts

DECEMBER 3, 2019

Will the concept appeal to people in this market? While some of the contents of your previous business plan(s) may be applicable—such as your menu items and your branding—your location-based market analysis, operations plan, and financials section should be entirely different from previous plans. Why or why not? If so, when?

Franchise 368

Franchise Franchising Audits Point of Sale 368

7 Shifts

FEBRUARY 12, 2021

See What Your Local Market Looks Like. For example, a restaurant that does $1 million would look to sell from anywhere between $250,000 and $400,000, depending on the area and market With restaurant startup costs as high as they are, there are clear benefits of buying an existing restaurant over starting from scratch.

License 444

License Equipment Certification Information 444

Sling

APRIL 2, 2023

We’ll answer those questions in this article and introduce you to an app that can help you manage your workforce better. Casual incentives can take the form of anything from recognition to cash to a catered lunch. This is just one example of how you can use cash to motivate your team to achieve any goal you set.

Cash Management 78

Cash Management Loyalty Program Casual Specials 78

Aaron Allen & Associates

MARCH 3, 2022

There are so many things to think about — from inventory management to restaurant payment and billing and more — it can be difficult to keep track of it all. That’s where restaurant management software comes in. In this roundup, we will take a look at some of the best restaurant management software out there.

Management 120

Management Management Mobile Ordering Point of Sale 120

Lavu

SEPTEMBER 29, 2023

Regularly reviewing and adjusting your compensation and benefits packages to align with market trends is crucial. Ensure that your recruitment and selection processes are efficient and thorough. In addition, creating a positive environment is crucial. Create a positive bar or restaurant work environment to retain restaurant staff.

Loyalty Program 166

Loyalty Program Front of House Mobile Ordering Customer Service 166

The Restaurant Times

FEBRUARY 22, 2022

The outbreak of the pandemic in 2020 ushered in new market dynamics that threw the traditional restaurant business model into disarray. Investing in labour-saving technologies and providing simple and fewer menu selections, for example, has allowed them to free up cash flow and recruit more people or raise compensation.

2022 98

2022 Front of House Cash Management Online Ordering 98

The Restaurant Times

NOVEMBER 30, 2020

Evaluate cash flow for the first year and calculate the five-year-return to the franchise. Marketing plan. Supply Chain Management. Vendor Management. Payouts and Commission Management. Managing the business of multiple Franchise Restaurants can be a daunting task. Cash Flow And Financial Projection.

Franchise 52

Franchise Franchising Cash Management License 52

7 Shifts

FEBRUARY 12, 2021

See What Your Local Market Looks Like. For example, a restaurant that does $1 million would look to sell from anywhere between $250,000 and $400,000, depending on the area and market With restaurant startup costs as high as they are, there are clear benefits of buying an existing restaurant over starting from scratch.

License 195

License Equipment Certification Information 195

The Restaurant Times

JANUARY 28, 2022

It is still difficult to operate in this market, both for new and established businesses alike. Many quick-service restaurants (QSRs) have seen explosive growth, thanks to a well-thought-out menu, theme, branding, and marketing strategy. . Recruitment and Retention . Branding and Marketing . Concept and Location .

Recruiting 52

Recruiting Customer Service Hiring Seating 52

The Restaurant Times

MAY 25, 2021

With lockdown restrictions easing and restaurant business slowly picking up the pace in the UK market, it is an excellent time to revisit your restaurant’s business plans. While doing this, conduct market research, see what is working best in the market, and incorporate these trends into your menu. . Industry Research.

Cash Management 52

Cash Management Employee Relations Point of Sale Email Marketing 52

Black Box Intelligence

MAY 12, 2022

Restaurant human resources departments have attempted to become more competitive in today’s job market by offering potential employees more benefits and advertising these opportunities throughout the hiring process. Digital Recruiting Methods. Short-Term Labor Fixes as Long-Term Strategy. Changes in Job Description Layout.

Advertising 52

Advertising Social Media Recruiting Hiring 52

Aaron Allen & Associates

JULY 17, 2020

While some may be moving into this scenario opportunistically — smelling blood in the water — the most successful are realizing that this can be the perfect timing for a mutually advantageous acquisition to optimize portfolios and gain market share. . Growing market share. Growing market share. Growing market share.

2020 110

2020 Back of House Cash Management Specials 110

Restaurant365

JULY 29, 2021

Ultimately, managing your vendor relationships is an area of risk management. The cost of borrowing may rise in 2021, in addition to the existing risk and unpredictability that is already taking place in financial markets. Your managers are also likely spending a lot of their limited time trying to fill gaps in staff roles.

Cash Management 78

Cash Management Point of Sale Inventory 2021 78

Restaurant365

MARCH 15, 2022

Recruitment and retention strategies go hand in hand. According to the National Restaurant Association, the average cost of restaurant turnover in 2021 was $1,869 per hourly employee, $8,119 per manager and $14,689 per general manager. Train your managers to hire the right employees.

Hiring 78

Hiring Cash Management Insurance Communication 78

The Restaurant Times

NOVEMBER 22, 2021

As a first-time entrepreneur in the food industry, the strategy for opening a restaurant begins with identifying a location, developing a concept and design, recruiting the right people, providing suitable training, branding and marketing, and effectively operating the business. Marketing .

Food Safety 52

Food Safety Cash Management Design Customer Service 52

Modern Restaurant Management

FEBRUARY 4, 2020

This edition of MRM News Bites features Boston Market, Danu Partners, P.F. New CEO at Boston Market. Boston Market® named Eric Wyatt as Chief Executive Officer. Boston Market® named Eric Wyatt as Chief Executive Officer. “Most importantly, there is a robust game plan in place to take the brand forward.

Online Ordering 122

Online Ordering Hospitality Leadership Design 122

Next Restaurants

OCTOBER 4, 2019

Twitter is a great way to market your restaurant business. To do that, operators need to a strategy and a solid understanding of their market. Once you have a clear idea of who you want to engage on Twitter, here’s how you can set about delivering an effective Twitter marketing strategy for your restaurant. Tailor Your Tweets.

Online Ordering 61

Online Ordering Cash Management Recruiting Customer Experience 61

Touch Bistro

JULY 4, 2021

are trying everything and the kitchen sink to recruit and retain employees in the face of a labor shortage the likes of which this industry hasn’t seen in decades. Get Creative with Recruitment. Recruitment and retention are two of the restaurant industry’s biggest challenges, even on a good day. Change Your Management Style.

2021 98

2021 Employee Relations Hiring Recruiting 98

Gecko Hospitality

JULY 12, 2018

A successful restaurant needs strong management, and the right restaurant management software can improve all areas of your business, ensuring it runs efficiently, reducing costs, decreasing customer wait times, and preventing billing and scheduling errors. Benefits to a Using Restaurant Management Software.

Management 40

Management Management Cash Management Point of Sale 40

Embrace the Suck

APRIL 18, 2022

I can tell you from working with over 2200 independent restaurants over the last 12 years that in any market regardless of current economic conditions…a lot of restaurants struggle (20%), and some just survive (60%). And that is the reason their marketing sucks. Marketing pros call this your USP or Unique Selling Proposition.

Social Media 221

Social Media Recruiting Online Ordering Point of Sale 221

Lavu

NOVEMBER 1, 2023

Food delivery has become a cash cow for restaurants because it’s convenient and easy for customers. Having a business strategy involves conducting market research, analyzing competitors, and identifying unique selling points. By following these tips, restaurants can use food delivery to reach more people and make more money.

Delivery 166

Delivery Food Online Ordering Mobile Ordering 166

Modern Restaurant Management

DECEMBER 14, 2021

Managers lack the tools to properly schedule employees and plan for shifting consumer demands, and as a result, businesses are paying for redundant overworked labor, or having to manage with inadequate labor due to hiring challenges. Rick Camac, Dean of Restaurant & Hospitality Management at the Institute of Culinary Education.

2022 189

2022 Food Supply Mobile Ordering Customer Experience 189

Modern Restaurant Management

MARCH 20, 2023

For example, you might use your best-seller to lead your next marketing campaign or decide to replace a dish that isn't providing enough return. You’ll know when to recruit more staff to deal with demand and when to hold off on ordering more stock. A cash flow statement details what this flow looks like for your restaurant.

Cash Management 195

Cash Management Point of Sale Consumer Goods Sourcing 195

The Restaurant Group

APRIL 13, 2023

The journey from researching locations to recruiting staff can seem long, and many things can go wrong. trillion global food service market. Depending on the business, a startup business consultant can also be roped in to assume responsibility for a particular stage of the launch, such as planning, recruitment, or marketing.

Recruiting 78

Recruiting Cash Management Small Business Hiring 78

Open for Business

MARCH 1, 2023

In fact, team members who have fun on the job are likely to recruit friends for open positions where they work. A general manager might also wear a restaurant’s sommelier hat. They handle all the cash and credit card transactions that happen at the bar and, with help from barbacks, they need to keep the bar organized and clean.

Fast Casual 78

Fast Casual Cash Management Front of House Fine Dining 78

Apicbase

FEBRUARY 29, 2024

The global foodservice market size reached $2,989.5 IMARC Group , 2023) A more optimistic forecast estimates a market size of $5,423.59 Fortune Business Insights , 2023) The global market size of the delivery app industry is expected to reach $165 billion by 2029. The global foodservice market size reached $2,989.5

2024 52

2024 Operations 2023 Loyalty Program 52

Modern Restaurant Management

MARCH 16, 2020

This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features some surveys surrounding Coronavirus and the restaurant industry, the best locations for chefs, online payment fraud and top trends for QSRs. ” Location Data and QSR Marketing. COVID-19 Foot Traffic at QSRs.

Mobile Ordering 122

Mobile Ordering Online Ordering Point of Sale POS 122

Modern Restaurant Management

FEBRUARY 18, 2020

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?” One great thing about the online delivery market is that it produces massive amounts of data. Store schedules and labor management.

Mobile Ordering 215

Mobile Ordering Front of House Fast Casual Customer Service 215

The Restaurant Times

MAY 20, 2022

The market size of the bakery industry in the UK is worth GBP 3.9 The bakery market is set to soar as the frenzied at-home baking during the pandemic has left the Brits with a craving for fresh bread, which is now expected to translate into spending at the retail level. Recruit Adequate Staff. Research Your Competition.

Social Media 52

Social Media Cash Management Recruiting POS 52

Modern Restaurant Management

DECEMBER 28, 2020

Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their opinions on what we can expect in 2021. Regardless of the decisions made, there will inevitably be a big market for new and interesting packaging. Rick Camac, Dean, Restaurant & Hospitality Management at ICE (Institute of Culinary Education).

2021 199

2021 Kitchen Safety Food Safety Mobile Ordering 199

Apicbase

JUNE 16, 2023

In practice, however, successfully managing a group of busy restaurants is an awfully tough undertaking. The metrics and calculations in this list will help you bring order to the chaos and manage the performance of each unit in the chain. In theory, it sounds easy. Why Are Metrics Important? That said, let’s dig in.

Point of Sale 52

Point of Sale Inventory Waste Employee Relations 52

Apicbase

APRIL 20, 2022

You will also need to estimate the expected growth rate for at least the first year of the franchise business, calculate the restaurant cash flow, and determine the payback period (the time it will take to cover the capital expenditure). We suggest focusing on your earnings before interest and taxes (EBIT) to estimate cash flow.

Franchise 52

Franchise Franchising Cash Management Kitchen Safety 52

EATER

MAY 16, 2024

“We would see employees on the right track, getting experience, starting to get to the next level, meaning a management promotion, and then child care would fall through,” says Marcus. Which, as an employee is one thing, but once you get into management, the stakes get higher. Then they couldn’t get to work on time.

Employee Relations 97

Employee Relations Government Hospitality Take-out 97

The Restaurant Times

JANUARY 27, 2022

With no cash in hand, there is no need for human touch, which is more hygienic and safer. It’s also more efficient in terms of cash flow, which is another advantage. Global contactless payments are expected to increase from $2 trillion to $6 trillion by 2024 , according to estimates. It is also quick, immediate, and easy.

Fine Dining 52

Fine Dining Technology Point of Sale Online Ordering 52