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In today's digital landscape, restaurants have become prime targets for cybercriminals who take advantage of potential entry points from point-of-sale systems, online ordering platforms, customer databases, loyalty programs and third-party delivery services. Consider the alarming pattern over the past three years.
Thats why 44% of restaurants are investing in restaurant technology tools to improve their business analyticsbecause customer data works. You can also use sales trends to adjust menu pricing and share customer-favorite menu items, helping you get the most out of high-demand dishes. Restaurants collect a ton of customer data.
But when the Bobes opened their fourth location in 2017, they reached a breaking point. Once they saw the additional features for team communication, time off requests, and submitting availability, they knew 7shifts would benefit their business. 7shifts was very easy to get started with.
If youre one of the thousands of restaurants that added online food delivery in recent years, you might be wondering: is it actually helping my business grow? The only way to know for sure is by tracking key performance indicators (KPIs) that drive business growth.
billion transactions and $67 billion in sales in 2024. Companies saw a sales boost in 2024 as loyalty transactions increased by over 30 percent. This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features delivery data, tariff troubles, summer dining trends, and Beer Serves America.
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All that said, bringing a brand to life requires a partnership with open lines of communication. Restaurant brands are now expected to build authentic relationships with guests, which requires transparency and two-way communication. In case you were wondering why they chose the name The Plaid Pengun, Haubenhofer tells the story.
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Boosts Repeat Business: Special promotions, loyalty rewards, and exclusive deals encourage guests to return. Unlike social media platforms, where the algorithm overlords dictate who will and will not see your posts, emails go straight to your customers inboxeswhich they check daily.
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Consider foot traffic, parking availability, nearby businesses, and zoning regulations. Talk to local business owners, visit during peak and slow hours, and imagine what your day-to-day operations would look like there. Regular check-ins, mentorship, and open communication can help new employees feel invested from day one.
From small independent specialty coffee shops to larger chains, the vibrant green tea powder is taking over menus. Many are moving away from high-caffeine beverages and alcohol in favour of functional drinks,” says Alex Centner , the sales director at specialty coffee roaster MoonGoat Coffee and the sales representative at Matcha Bot.
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Compliance Updates : Automatic updates for tax and labor law changes keep your business on the right side of regulations. Here’s a look at some of the top free and budget-friendly payroll tools tailored for restaurant businesses. Tax Compliance : Stay updated with local, state, and federal regulations.
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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. Focusing on making more money is essential to keep your business successful in the long run.
The consequence is that hospitality businesses get locked into outdated systems. They’re also the pressure points. This layer does two things: it defines how systems communicate, and it gives them a shared foundation for understanding the information exchanged. It’s a reactive process. But that’s starting to change.
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Typically, that only costs the restaurant the refunded money and perhaps a small transaction fee. The food delivery market is booming, with the industry poised to hit a valuation of$90.3 billion globally by 2030 according to industry data. One of the biggest financial complications? Third-party delivery chargebacks.
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As a global leader in hospitality industry accounting and advisory services, Paperchase empowers businesses across diverse markets to navigate their financial complexities with precision and foresight. Gain invaluable insights into choosing the ideal hospitality accounting firm to suit your specific business needs.
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This discipline has become the cornerstone for businesses aiming to thrive, allowing them to optimize rates, increase occupancy, and, ultimately, maximize profitability. business traveler vs. leisure guest). Key Takeaways Learn proven revenue management strategies for the hospitality industry. a standard room vs. a suite).
Amid managing suppliers, staff, and daily operations, does a restaurant owner really have the time or expertise to effectively handle the financial side of the business? Choosing between outsourced and in-house accounting depends on factors like cost, business needs, and the complexity of financial operations.
The busy day-to-day operations can often overshadow the importance of diligent bookkeeping. Efficient bookkeeping practices and strategies ensure business growth, regulatory compliance, and effective financial management in the hospitality industry. Learn more about our Accounting Services !
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