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Accurate inventory management is crucial to running a successful business because it directly impacts a company’s bottom line and is key to maximizing profits. Having an accurate handle on inventory enables a business to become more resilient and know what they can sell and when they can sell it, helping mitigate out-of-stock scenarios. At one point, inventory management was a meticulous, lengthy and manual process for the Independent Purchasing Cooperative (IPC), an independent member-own
Did you know that 60% of customers read an online review first before going to a restaurant? Additionally, 42% of U.S. customers tried out a restaurant for the first time because of its social media posts. For restaurant owners, this means that it’s essential to keep your presence on social media active and engaging. A strong social marketing game opens a pathway of opportunities for restaurant websites (including yours!
A retired NFL coach would rally his team before a game with the words: “Where would you rather be than right here, right now?” This is a sentence that sums up the life’s work of these athletes, a culmination of talent, hard work, and perseverance. To get to where they were in that moment took everything they had and now was the time when they should not only relish the feeling of accomplishment, but also not let down their teammates, their coaching staff, the fans, or themselves.
The restaurant industry has long been associated with long hours, hot-headed chefs, and an intense working environment that only the most passionate could handle. But that's been slowly changing over the past few years. Even before the pandemic hit, there's been a growing feeling that the restaurant industry has to do better when it comes to employee experience.
Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
Champagne wishes, caviar dreams, and a really good ring light The paths to becoming food famous used to be fairly limited: First, you needed to cook really well, or at least know what good cooking was and have a particularly fine way with words. You could get there by creating an amazing cookbook , or writing a New Yorker essay that would inspire a memoir , which in turn would spawn a genre-defining travel series.
Technological advances have been rapidly transforming in the past few years. As more companies transition to being fully remote or transitioning into hybrid workplaces, advances in AI, machine learning, and cybersecurity continue to transform the workplace. However, the problem with the rapid technological advances is that people haven’t been able to catch up to the most recent updates.
Soaring prices, continued supply chain disruptions, and ongoing staffing shortages are creating a perfect storm for restaurants. Food and labor costs are elevated and expected to remain high in 2022 , negatively impacting restaurants’ profit margins. Additionally, supply chain disruptions remain a huge problem, with 96 percent of restaurant operators saying they experienced supply delays or shortages last year.
Soaring prices, continued supply chain disruptions, and ongoing staffing shortages are creating a perfect storm for restaurants. Food and labor costs are elevated and expected to remain high in 2022 , negatively impacting restaurants’ profit margins. Additionally, supply chain disruptions remain a huge problem, with 96 percent of restaurant operators saying they experienced supply delays or shortages last year.
Coffee is one of the most economically significant agricultural commodities in the world. According to data from the International Coffee Organisation (ICO), around 167.58 million 60kg bags were consumed between 2020 and 2021. We know that most of the value in the global coffee market is created after coffee leaves origin. Figures from Statista predict that the revenue generated from the global roasted coffee market will amount to about US $334.60 billion by the end of this year.
I get it, profit in restaurants is sometimes hard to come by. We deal with highly perishable goods, unpredictable customer behavior, swinging door staffing, and constantly escalating cost of goods. Restaurants get hit from all angles so when there is a chance to push the envelope on pricing – many do. It’s so hard to make money on that 10 oz. Prime Filet or 14 oz.
The 9 to 5 workday is common in many industries—but not in restaurants. The hospitality industry calls for early mornings and late nights, which means a normal scheduling approach doesn't exactly fit in a restaurant. If your restaurant is open 24/7 or needs workers outside its normal hours of service, your business might benefit from a swing shift schedule , which ensures you have the right amount of coverage at the right times.
Isabela Humphrey. Businesses are more reliant on Instagram than ever — which means more pain when they get locked out One day in March, the pastry chef Bronwen Wyatt was posting a picture of one of her signature squiggle-decorated cakes on Instagram when she was suddenly logged out of her account. When she tried to log back in, an error message appeared, so she clicked a button to request support.
Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
A “secret” online menu could be just what your restaurant needs to give diners a thrill of discovery–while increasing sales and customer loyalty in the process! By simply adding items online that aren’t advertised in store, you’re free to experiment with new dishes and get creative with marketing. You don’t need much to start a secret menu, but here are our top tips to make yours a success.
For restaurants, the health care expenditure will increase, and it’s not just the cost of health care. With winter behind us and summer approaching, it is time to begin planning for the 2023 benefits plan year. ‘Tis the season for plan review, benchmarking and forecasting. The key to success in this process is viewing the trends and national data through the prism of a restaurant operator.
The third wave of coffee is synonymous with a focus on the craft of producing, roasting, and brewing great coffee. Generally speaking, third wave coffee consumers are increasingly focused on the technical skills of farmers, roasters, and baristas. However, as the appreciation of the craft of coffee has grown, technology has also come to play a more important role.
As a cook or chef there are many days that go well and a few that challenge the best. There are times when a service kind of clicks and the night ends without any problems – these are nights that allow you to feel good about what you do and the level of skill that you have built. But then, on occasion, there are those nights when you and your teammates are in a special place, a place that is hard to describe unless you have been there – you are in the zone.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
As everything gets more expensive, consumers are panicking, and business owners are in a predicament. To cover supply chain costs, restaurant owners need to raise their prices. However, will raising these prices cause them to lose some loyal customers who cannot afford it anymore? With any shift in costs, business owners will see the effect it has on profitability.
Eilon Paz/Bloomberg via Getty Images. The city is booming economically. Here come the restaurants from out of town. Once known nationally as the home of the Grand Ole Opry and not much else, few cities have experienced the kind of explosive growth that has boomed across Nashville over the past decade. Nashville hosts more than 16 million tourists each year, and at present, nearly 100 people are moving to Music City, U.S.A. every single day, with the influx showing no signs of slowing down any ti
As a restaurant owner or operator, you deserve to be in the driver’s seat of your budget and your profits–which can be challenging when most online ordering companies’ fees charge up to 30% of every order. Those costs add up over time , eating away at what could be an extra headcount in the kitchen, a redesign of your space, or additional marketing to grow your brand. .
One of the most impactful ways to target your audience is through location-based marketing. Nine out of 10 people who own a smartphone use it for information regarding their location, which allows vendors to access relevant and timely data in a nonintrusive way. Customer engagement is guaranteed to increase as customers interact with your restaurant through a dedicated mobile app or QR code system.
AI adoption is reshaping sales and marketing. But is it delivering real results? We surveyed 1,000+ GTM professionals to find out. The data is clear: AI users report 47% higher productivity and an average of 12 hours saved per week. But leaders say mainstream AI tools still fall short on accuracy and business impact. Download the full report today to see how AI is being used — and where go-to-market professionals think there are gaps and opportunities.
Milling is one of the most important post-harvest steps in coffee production. It involves removing the various layers of the cherry to remove the seeds. Wet milling is carried out after harvesting, while dry milling happens once the green coffee reaches the optimal moisture content for export. Around the world, producers use a number of different types of mills for these steps, which vary from washing stations and large commercial mills to micro mills.
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Episode Summary. As editor at Food News Media , Danny Klein has a 30,000-foot view of everything that's going on in our industry. So from curbside pickup to QR codes, to the labor shortage to loyalty, Danny has a ton of thoughts to share. It's an episode that's just packed with breakdowns, some hot takes, and knowledge bombs that you can take back to your teams.
To escape my city’s pandemic restrictions, I embarked upon a cruise with literally no end destination In early fall of 2021, I got the idea I should go on a cruise. Earlier that summer, Hong Kong had loosened and then suddenly re-tightened its travel regulations around COVID, and the city, for all its spectacular beaches and charismatic jungles, both concrete and natural, was beginning to feel like the safest, most beautiful ward in a prison hospital.
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
The BOHA! team is excited to return to the National Restaurant Association Show, beginning on May 21 st , 2022. We can’t wait to show you how our technology creates a better back-of-house. Located at McCormick Place in Chicago, IL, this show is the largest foodservice show in the western hemisphere. Each year, NRA showcases industry-leading products, innovations, and solutions for some of the most difficult problems currently facing the nation’s kitchens.
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The benefits of drinking coffee before exercise have been well-documented over the years by many healthcare professionals. But what about the wider relationship between sports and coffee? Around the world, sports teams have partner with a range of brands seeking promotion. It’s believed that the global sports sponsorship industry alone will be worth US $89.60 billion by 2027.
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Fuel your restaurant’s success with our comprehensive 2025 funding guide! Running a restaurant comes with unique financial challenges, from managing seasonal fluctuations to covering unexpected expenses like equipment repairs or ingredient shortages. This guide dives into fast, flexible financing options for restaurant owners. Discover how to bridge cash flow gaps, fund expansions, or navigate slow seasons without compromising service quality.
Managing food costs is critical to running a successful restaurant. But while there are many ways to manage spending, there’s little you can do if you don’t accurately know what your food costs are. That’s why the first thing you should do, before implementing any cost savings strategies, is determine how much your restaurant is spending on food.
On Instagram and at estate sales, people are on the hunt for elaborate dishes and elegant glassware Lisa Dye has been accused of depleting the world’s supply of depression glass. It’s the kind of accusation that could only be made on TikTok or another social media platform, a hyperbolic declaration that reveals people will develop hard opinions about just about anything.
The U.S. restaurant sector is gaining steam after coming out of a two-year pandemic that shuttered doors and curbed eatery revenues dramatically. According to the National Restaurant Association , the dining industry should generate $899 billion in revenues in 2022. That’s up from $640 billion in 2020. Even with robust growth, the restaurant industry faces steep challenges right now, with labor shortages, higher inflation, challenges with home food and drink deliveries, and ongoing food an
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
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