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Imagine pouring your heart and soul into your restaurant, only to watch your tables remain empty night after night. One of the building blocks you must put in place before starting a restaurant is market research. Just like a well-crafted mission statement will help guide your business decisions, identifying and understanding your target customers and competitors through restaurant market research will give your business a competitive edge.
Faced with rising labor costs and increasingly price-sensitive customers, restaurant brands are exploring new ways to balance profitability with consumer expectations. One of the most debated strategies is dynamic pricing, which adjusts based on demand and other variables. Although dynamic pricing is a staple in industries like travel and hospitality, its application in fast food is uncharted territory.
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The average restaurant profit margin is only around 6-9%. Even small mistakes can eat away at these thin margins, and put your business at risk. Restaurants are facing a critical challenge to maintain profitability in this highly competitive industry, and unexpected costs and inefficiencies can quickly erode profits. In this article, we’ll identify the top factors that shrink profit margins, while giving you strategies to minimize their impact and boost your bottom line.
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Matcha is gaining popularity at cafes around the world. | Lisa Maree Williams/Getty Images #MatchaTok is in shambles On a trip to Japan in early November, Erica Lee, a TikTok creator , had one main goal: to get matcha powder. A novice matcha drinker, Lee travels to Japan often and always buys one or two tins. “They expire very fast,” she says. This time though, it was harder than usual to find the matcha she was looking for.
So, you’re thinking about diving into the world of franchising. Maybe you’ve noticed a favourite fast-food joint pop up in multiple locations or seen a local business expand across cities, and you’re curious how it all works.
So, you’re thinking about diving into the world of franchising. Maybe you’ve noticed a favourite fast-food joint pop up in multiple locations or seen a local business expand across cities, and you’re curious how it all works.
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The menu, which includes the ever-popular fry bread taco, tells a story of connection, innovation, and respect for legacy and Indigenous culinary traditions. | Courtesy of Marielba Alvarez / Smithsonian Institution Where to find manoomin rice cakes, “kick-ass buffalo chili,” fry bread tacos, and stunning Indigenous artwork As a We Wai Kai First Nation member , I know that food connects Indigenous people to our history, traditions, and stories.
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Elena Veselova/Shutterstock Sweet potato creme brulee, sweet potato casserole, loaded sweet potatoes, and more The sweet potato is a humble root vegetable that doesn’t necessarily need a whole lot to be delicious. A drizzle of olive oil, some salt, and ample roasting time is enough to make a perfectly acceptable side dish this Thanksgiving. The sweet potato, however, can be so much more than a simple side dish.
Executive Summary Location: Southern Illinois and Indiana Restaurant Type: Family-run QSR serving pizza and sandwiches # of Locations: 5 # of Employees: Around 100 Problem: Difficulty tracking employee availability, delivering schedules, finding coverage for shifts, and overall communication Solution: An app where employees can see their schedules, swap shifts, and chat with the team A secret family recipe Dotted along the southern Illinois-Indiana border lie five pizzerias owned by three genera
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Rick Poon/Alfred A. Knopf Sonoko Sakai’s miso apple pie recipe celebrates kakushi aji, or the Japanese idea of including a secret ingredient that elevates an entire dish Apple pie is a Thanksgiving classic, but sometimes classics can stand to be revamped. Enter Sonoko Sakai’s miso apple pie recipe from her most recent cookbook, Wafu Cooking. Sakai’s apple pie is a tribute to the simple slab pie recipe her mother made when Sakai was growing up, but spruced up with the salty, earthy addition of mi
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The Bottom Line: The retirement of John Chidsey was not surprising given the sandwich giant’s sale to Roark Capital. Whoever takes over will have a lot to do. So here are a few ideas, starting with fixing relations with operators.
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