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Building the Value Equation as We Approach the Price Ceiling 

Modern Restaurant Management

Striking a balance between value and price. Is it possible to strike a balance between value and price to satisfy both parties? To answer that question, Revenue Management Solutions (RMS) examined two factors: the impact of price increases on QSR sales performance and consumers’ perception of value. Is it possible?

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Menu Prices Are Rising, But Loyalty Programs Can Help Restaurants Stay Ahead

Modern Restaurant Management

In October, the USDA reported year-to-date averages, noting that food-at-home (grocery store) prices have increased 2.5 percent and food-away-from-home (restaurant) prices have increased 3.6 percent, and food-away-from-home prices are expected to increase between 3 and 4 percent. If current projections from the U.S.

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MRM Research Roundup: End-of-April 2021 Edition

Modern Restaurant Management

CGA’s latest sales data reveal significant increases compared to performance in 2020, during one of the worst periods of decline when full lockdown restrictions were in place. The average $ sales velocity for units across America were down -6 percent compared to the week before (April 17 v April 10). The Value of Trust.

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Six Happy Hour Promotion Ideas to Boost Sales

Modern Restaurant Management

Happy hours can be a great way to increase foot traffic and boost sales for restaurant and bars. Not only does it attract customers during slow times , but it also boosts sales and encourages people to come back. Don't forget that the happy hour crowd is a price-sensitive bunch. Load Up the Menu With Shareables.

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Restaurant Accounting: A Comprehensive Guide

7 Shifts

This includes tolls with payroll management features, sales and expense tracking, budget forecasting, and report generation, to name a few. This number is essential because it helps you determine the price of your food and beverages. It involves tracking massive amounts of real data and industry benchmarks. Sounds complicated?

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Restaurants with Strong Brand Identities Captivate Gen Z

Modern Restaurant Management

Dynamic pricing on these platforms might be necessary to combat some of the lost revenue due to fees. Dynamic pricing on these platforms might be necessary to combat some of the lost revenue due to fees. Born between 1997 and 2012, Generation Z is a demographic known for being tech-savvy and socially conscious.

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15 Restaurant Metrics to Know and How To Use Them

7 Shifts

Break-even point. Sales per labor hour. Ideal menu price. Your CoGSs is an essential number to have when determining your menu prices, inventory and impacts your net profit margin. You can now determine what percentage this is off your overall sales to get a picture of your restaurant's financial health.