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A new year is creeping up on us again, bringing fresh opportunities—and challenges—for restaurant operators. From updating policies to gearing up for tax season, these steps will enhance your compliance and position your restaurant for sustained growth.
As the restaurant industry continues to evolve in 2025, effective legal strategies are more important than ever for operators aiming to grow and scale their businesses properly. From franchise compliance to mergers and acquisitions (M&A) terms, the right legal frameworks can guide a restaurant company to long-term, sustained success.
This doesnt mean cutting corners and sacrificing the customerexperience; its about knowing where your money is going, spotting leaks early, and fine-tuning whats already working. The Main Costs Every Restaurant Needs to Watch Before you can cut costs, you have to know exactly how much youre spending and where its going.
This final edition of Modern Restaurant Management (MRM) magazine's Research Roundup for 2024 features news of operator challenges and priorities, delivery trends, wages and hourly worker considerations. This is according to a survey conducted by TD Bank at the 2024 Restaurant Finance and Development Conference in Las Vegas, Nevada.
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. As they grapple with rising costs across their supply chain, 71 percent of restaurants plan to increase prices this year.
See how restaurant bookkeeping fits into broader hospitality accounting practices. Restaurants and Food Service: Including fine dining, fast casual, QSRs, cafes, and catering. Seasonality: Many hospitality businesses experience significant fluctuations in demand throughout the year. Learn more about our Accounting Services !
This discussion will provide a roadmap for mastering the art of accounting in the world of restaurants and bars. Key Takeaways Understanding hospitality accounting is crucial for efficiency, profitability, and making informed business decisions in restaurants and bars. But, why is this so crucial to your business’s success?
I was in a restaurant for my moms birthday when the World Health Organization declared the spread of coronavirus a pandemic, and, in between sewing my own cloth masks and attending cursed Zoom happy hours, my colleagues and I reported relentlessly on the crisis unfolding in the restaurant world. Some things did get better.
New York City, New York, US) Tue, 1 Jul – MTPak Coffee upgrades facilities for custom packaging with low MOQs and one-week lead time. Former Sweaty Betty VP of Marketing Ruth Mann will lead brand awareness, customer engagement, and marketing campaigns across Gail’s 160 UK bakery‑cafés in her first hospitality role.
Society Insurance has spent 110 years helping protect businesses and has seen firsthand how nuclear verdicts have evolved in the U.S. Nuclear verdicts can occur as the result of a dispute in a restaurant parking lot, because of food safety issues, or even for reasons that exist outside the restaurant industry.
Getty Images Bird flu outbreaks have caused egg prices to rise, forcing some restaurants either adapt recipes or raise menu prices Toward the end of 2024, James Wong of the San Francisco bakery Breadbelly was already mentally preparing for his egg prices to go up: They also spiked at the end of 2022 and 2023 , due to nationwide bird flu outbreaks.
Traditional sit-down restaurants and mobile food businesses have uniquely different needs when it comes to insurance. While there is some overlap in coverage needs, it’s important to understand the differences when it comes to insuring your business. Traditional Sit-Down RestaurantInsurance Needs.
What can restaurant operators learn from this experience? What makes restaurant chain breaches unique compared to other industries? Modern Restaurant Management (MRM) magazine reached out to Matt Green , partner and Deputy Chair of Obermayer’s Litigation Department, for insights on this topic.
A group of senior staff members met on Thursday, March 12 to discuss how to set up home delivery of beer, and on March 16, one day after Ohio Governor Mike DeWine ordered the closure of restaurants, we launched this new arm of our business. Stories like ours played out in restaurants across the country over the next few weeks.
Restaurantinsurance is complicated. Just as owners have to play many roles in management, marketing, and menus, their insurance has to protect their finances, patrons, and employees. And who has the time to read a 100-page insurance policy? These are often excluded from standard policies and be potentially costly.
Your restaurant is open and customers are back. An increase in these injuries could result in higher insurance rates in the long term; in the short term, they disrupt your ability to operate at peak capacity and could negatively impact the morale of all employees. Restaurants are struggling to find people in a tight market.
Over the past few months, many restaurants made difficult decisions to reduce their workforce and apply a strict delivery and takeout format or pause operations entirely due to COVID-19. The return of a more regular dining experience signals an encouraging step forward for owners and employees alike, however, caution is necessary.
The outlook is improving for many restaurants as COVID-19 restrictions loosen and guests make their way back to their favorite establishments. So what can restaurant operators do to add to their bottom line, create cost savings and generate brand awareness? The process can be a little intimidating. But the good news is: it can be done.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features the rise of eCommerce, economic impact, dining during COVID and hot dog insights. Key findings for the restaurant industry include: Restaurant Closures Data. Key findings for the restaurant industry include: Restaurant Closures Data.
As a result of the pandemic, restaurants have had to make specific adjustments to all areas of their organization’s operations. After months of quarantine, restaurants were allowed to reopen with new restrictions, and the way they hire, train, and onboard employees had to adjust accordingly.
over the past decade, keeping employees in restaurants has become increasingly difficult. However, attracting high-quality restaurant employees goes beyond just filling open positions. Some restaurant staff may prefer fewer hours to accommodate school or family, while others might be looking for full-time work with a steady income.
Offering a safe and enjoyable outdoor dining experience requires careful planning. Here are a few outdoor dining tips to ensure that you are providing the best experience possible to your patrons. As with indoor dining, the outdoor dining should be adequately illuminated to ensure customers and employees can safely navigate the area.
In this edition of MRM News Bites, we feature help for small business owners and products for the 'new normal' for restaurants as they reopen. “This new feature helped us keep our doors open and continue serving our customers during the recent downturn,” he said. On-Demand Delivery for Square Online Store.
As the pandemic limited access to restaurants and the government dragged — and continues to drag — on providing financial support for small businesses, consumers were given few options outside of takeout and delivery to eat a meal that they didn’t cook themselves. Delivery apps hurt restaurants.
We don't have to tell you that the restaurant industry has a turnover problem. Restaurants are a transitional industry for many—but many of the reasons that workers quit are entirely preventable. 8 Reasons Why Restaurant Workers Quit — And How To Prevent It. 7shifts Tip Pooling and Distribution Software for Restaurants.
The day-to-day realities of a gig economy driver for DoorDash and Postmates: 12-hour days, bad tips, customer abuse, and parking tickets . Those disparities only worsened during the pandemic, as restaurants closed and the prospect of earning a living from tips became even more precarious. Buy “One Fair Wage” at Amazon or Bookshop now.
In 2021, I worked in a restaurant that promoted itself as the future of dining. Things could sour quickly, and the customers often left frustrated and hungry. Like much of the world, new and ever-changing technology is a fact of life for restaurant workers. Disrupters and the Silicon Valley Effect.
Lille Allen Six chefs and restaurant owners from across the country explain why restaurants feel so expensive right now, and how they’re coping with high prices and customer complaints Dining out involves calculating the intangible: What is hospitality worth to you? Lately, the calculus is becoming more complicated.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news on the impact of California's minimum wage, customer satisfaction, AI use in restaurants, popular cocktails and bathroom readiness. The law changed on April 1. In April and May, California visits were around 2.5
Restaurants are similar to spider webs. This is just like a restaurant, made up of its own interconnected components. Take this story from Leo Smigel, the founder of Analyzing Alpha who's been involved with several restaurant ventures: "My buddy really got himself into a pickle. You know how it is with small businesses.
This edition of MRM News Bites features a double dose from US Foods, SpotOn Transact, DoorDash Kitchens, Virtual Restaurant Consulting, Tripleseat and Gather, wagamama, Toast, The Gluten Intolerance Group, Instawork and StaffMate Online, Procurant and Yellofin, Sift, 7shifts, ParTech, Revel Systems and Como, Kabbage, Bluecrew and Cuboh.
Restaurants and bars are often targets for robbery, burglary and theft , so much so that the FBI ranks restaurants as the eighth most common setting for violent crime and nearly half of cyber-attacks target small businesses. If criminals uncover a schedule, it makes it easier for them to attempt a heist on your hard-earned profits.
For many in the hospitality industry, tipping is an integral part of their restaurant's culture. It influences the livelihoods of restaurant workers around the world. Customers using Tip Payouts have seen a 39% increase in time savings per week processing team payouts. Avoid doing manual math and save hours every week.
Since your main focus would be selling alcohol to your customers, you need to take a few extra steps. However, note that bar profit margins vary due to various factors like tax rates, licensing laws, customer demographics, and the cost of living in your area. These regulations vary from city to city.
Turnover in restaurants is as high as ever. Labor shortages, health crises, and general economic trends have made it a struggle — and restaurants need help. But we're at an inflection point in the restaurant industry. It's not enough to just pay more than the restaurant next door. Restaurant Retention Data Study.
Bookkeeping is one of the most essential aspects of any restaurant business. After all, a small, honest mistake can accumulate over time and turn into bigger operational problems— 17% of restaurants even fail in their first year due to mismanagement of finances.
Selling a restaurant can be a major decision for many reasons. One of the main reasons is to cut losses due to financial challenges, with 52% of restaurant owners saying high operating and food costs are really cutting into their profits. If restaurants in your area sell at a multiple of 2.5
By Nick DiMatteo, Fortyfivegames Bar and restaurant owners are constantly seeking ways to stay ahead of the curve when it comes to attracting and maintaining their customer base. Additionally, the onus will be on owners to determine that their entertainment selections are in compliance with local laws and ordinances.
A 2023 study by Toast found that 30 percent of staff in the restaurant industry are at risk of leaving in the next two years, highlighting an equally concerning high turnover rate within this sector. Fast-Casual Fast Growth Rising prices in recent years have evidently been good for someone: Fast-casual restaurants.
Restaurants are unique businesses that come with their own specific set of startup costs. Your average restaurant labor cost and restaurant food cost will vary based on your type of concept, location, size, and other details. Before rushing to open your doors, you need to understand your restaurant costs.
hour, restaurant operators are starting to think about how they will adjust their businesses to a $15 restaurant minimum wage. and provinces in Canada) have already increased their restaurant minimum wage and tipped minimum wage in the past few years. Will the Rising Restaurant Minimum Wage Affect Me? In the U.S.,
There can be companies that cater to larger groups, or if you are starting out, you can start small for a party of 20 or 50 people depending on the experience, equipment, and capital you have. This will depend on the local laws concerning the catering businesses and zoning regulations. . Get Insured. General insurance .
Expert Tips for Starting Your Own Bar Becoming an entrepreneur and opening up your bar can be a very challenging and rewarding experience. Additionally, each state, county, and city has different laws and regulations regarding alcohol sales. Select an area with high foot traffic and plenty of potential customers.
Expert Tips for Starting Your Own Bar Becoming an entrepreneur and opening up your bar can be a very challenging and rewarding experience. Additionally, each state, county, and city has different laws and regulations regarding alcohol sales. Select an area with high foot traffic and plenty of potential customers.
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