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The restaurant industry is one of the most competitive businesses out there. According to the National Restaurant Association , the US alone has over 1 million restaurants. To succeed in an industry where competition is high, the margin is tight, and 60% of businesses don’t make it past the one-year mark, regular performance tracking is essential. The continuous assessment of a restaurant’s Key Performance Indicators (KPIs) allows owners to have a comprehensive understanding of current operation
Consumers and businesses waste food to the detriment of themselves and the planet. In this article, we will first discuss why food waste is a problem. Next, we will provide tips, techniques, and resources to help restaurants and other commercial foodservice operations take steps towards preventing waste altogether while boosting public relations and saving money. […].
We’ve previously discussed B2C marketing on this blog — but what of B2B marketing? These two business marketing terms provide an important lens for studying other businesses’ marketing strategies and defining a plan for your own business. A recap of what these terms mean: B2C means “business to consumer,” while B2B means “business to business.” These acronyms define two distinct styles of marketing, one for targeting everyday consumers and one for targeting bu
The restaurant industry took the brunt of the pandemic’s economic and societal impact and is now being asked to respond to the permanently changed consumer landscape. As the world grapples with the next wave of COVID-19, businesses are confronted with product and labor shortages, a sudden increase in ecommerce and a variety of shifting consumption patterns.
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.
Staff scheduling, inventory management, menu analysis , guest satisfaction, profitability, and so much more rest on the shoulders of accurate restaurant forecasting. Faultless restaurant forecasts, however, are dependent on navigating predictable trends like holidays and seasonality alongside unpredictable ones such as weather and major world events.
From a peachy piquette to spritz-style rosé, these are the cans you should reach for It’s summer in North America — the temperatures are high, and with them, the need for refreshment (with alcohol). Alongside the hazy ales and myriad hard seltzers, you may have noticed an influx of refreshing wine cans in your local grocer’s refrigeration station, candy-colored Easter eggs of vinous refreshment just waiting for you to pop the tab.
As we return to in-person dining across the country, restaurants are facing yet another challenge: delivering an exceptional customer experience (CX) for guests who come with high expectations after more than a year stuck at home. Not only is there a ripe opportunity to attract formerly takeout-only customers for in-person dining, but an opportunity to enhance customer experience for all customers and differentiate from the competition.
Employee scheduling for your restaurant can be the most stressful part of your job. After tracking sales, calculating inventory, and just trying to keep your head above water, restaurant scheduling can take up a chunk out of your week. Plus, that schedule almost rarely ends up going as planned. Problems often arise in your schedule, from your head chef calling out sick to the unexpected influx of customers on a Tuesday afternoon.
Michael D Edwards/Shutterstock. New York City is the first to require proof of vaccination for indoor dining. It’s time for other cities to do the same. On August 3, New York City mayor Bill de Blasio announced the U.S.’s first citywide mandate requiring proof of vaccination for indoor dining. If we ever want to move beyond the pandemic, this should become a mandate in every city.
By Andre Oentoro, Contributor. If you’re a restaurant owner, then your YouTube channel may be one of the most important assets for your business. A lot of people are searching for videos about restaurants on YouTube and will find yours if it’s optimized correctly. . Since people nowadays take YouTube as one of the major information sources online, having a channel about your restaurant will help you reach out to a broader audience.
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.
If you’re operating a thriving restaurant business on the other side of the pandemic, that might mean you have a concept with legs to expand beyond your current location(s). Consider that around 60 percent of new restaurants fail within the first year. And nearly 80 percent shutter before their fifth anniversary. There is good reason to be optimistic about restarting restaurant expansion: restaurant sales continue to set records, the federal stimulus has added billions of dollars to compan
Reading Time: 3 minutes. The San Francisco Bar Owner Alliance is now recommending that bars require guests to show proof of COVID vaccination. Although this is not a government mandate, it is expected that at least half of the nearly 500 bars registered in the alliance, and many other non-members, will put this practice into play. The subject has ignited another hot topic in the Covid-19 vaccine debate – when it comes to restaurants, who is responsible for Covid safety?
The food and beverage inventory in your restaurant or bar is your biggest asset. Yet so many kitchens and bars are loaded with products that are never used in recipes or never sold - that’s liquid cash that’s eating into your profitability.
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.
Over the past few years, third-party apps like DoorDash, Grubhub and Uber Eats have made delivery and takeout faster and easier than ever. COVID-19 further accelerated this trend as restaurants turned to delivery models to reach consumers and maintain revenue. In fact, the National Restaurant Association found that 40 percent of consumers who ordered delivery from a restaurant in 2020 used a third-party company to do so.
The industry has been volatile the past year and a half — to say the least. And while things seem to be on the upswing, the industry is now facing another big hurdle: labor challenges and shortages. BLS reported that job openings reached a record high of 9.3 million in April, and the accommodations and food services sector accounted for the largest increases.
Listen to "Solving Problems for Chefs | Season 4, Vol. 6: meez" on Spreaker. In the latest episode of the Hospitality Hangout podcast, Michael Schatzberg “The Restaurant Guy” and Jimmy Frischling “The Finance Guy” chat with Joshua Sharkey , the founder and chief executive officer of meez , to explore an exciting new tech solution for chefs. “The genesis of meez was the result of something terrible… I lost my [cooking] notebook,” says Sharkey.
As we slowly move into what is hopefully the “post-pandemic world”, restaurants and bars around the globe are beginning to reopen their doors to guests and look at ways they can optimize their profitability.
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.
The employee shortage might be temporary, but there are ways that your business can attract talent now and retain a competitive advantage in the future. There are more jobs than ever before, yet restaurants are struggling to attract employees. The number of workers quitting their jobs in April reached new highs of four million, with 5.6% of restaurant workers quitting their jobs.
The industry has been volatile the past year and a half — to say the least. And while things seem to be on the upswing, the industry is now facing another big hurdle: labor challenges and shortages. BLS reported that job openings reached a record high of 9.3 million in April, and the accommodations and food services sector accounted for the largest increases.
From placing the next inventory order to scheduling staff, there are many decisions to be made every single day in a restaurant. With so many different factors, successful restaurant owners and operators know that restaurant forecasting is key to profitability. Restaurant forecasting leverages historical revenue data, information about current conditions, and knowledge of external events to help project future sales levels.
Are you ready to cut costs and increase productivity in your business? Incorporate workforce optimization practices into your workflow. When you improve the way your team functions within your business, you essentially work smarter rather than harder to achieve the same results. This can have a substantial and far-reaching effect on your organization’s success.
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.
This adapted from " Manage to Engage. How Great Managers Achieve Remarkable Results. " We all know we feel valued when others make us feel valued. And in the restaurant business, particularly coming out of a pandemic, it can be tough from both sides – enabling the boss to help people feel valued and engaging teams to feel valuable. We also know there are a lot of people working who just don’t enjoy it – they are far from feeling valued at work, or in corporate speak, th
You’re probably heard of NPS or Net Promoter Score, a simple measurement of how likely people are to do business with you again. Another way to measure your business is with the Net Easy Score or NES. Based on work by Sue Barrett , it looks at all the ways your business is easy , or difficult , to deal with. Here’s a version for restaurants, cafes and foodservice.
Large social media platforms can be extremely useful for marketing your business. One platform you might be overlooking is Twitch. With 15 million daily users, it’s the largest online video game streaming platform. Marketing your business on Twitch before it becomes saturated with other advertisements can be great for your brand so start now. Here […].
Columbia Gorge. About the Columbia Gorge AVA The Columbia Gorge AVA, established in 2004, comprises vineyard lands on both sides of the Columbia River, in both Oregon and Washington. The Columbia River, the largest river in the Pacific Northwest, is famous as the transportation mode for the Lewis & Clark expedition as it finished its final leg of travel to the Pacific Ocean.
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.
The edition of MRM Research Roundup features restaurant payment transaction data, foodservice equipment purchasing and the lasting appeal of chicken sandwiches. Rent Struggle Is Real. Alignable’s July Rent Report has just been released, based on a poll of 5,911 small business owners that concluded last week. While there are some nice signs that the recovery is having a positive impact on rent payments, there are also many other indications that rent continues to be a major struggle for man
You’re probably heard of NPS or Net Promoter Score, a simple measurement of how likely people are to do business with you again. Another way to measure your business is with the Net Easy Score or NES. Based on work by Sue Barrett , it looks at all the ways your business is easy , or difficult , to deal with. Here’s a version for restaurants, cafes and foodservice.
Everyone loves barbecue restaurants – although it’s classic Southern comfort food, the BBQ industry has exploded around the country. There are mom-and-pop barbecue pits wherever meat is available. However, sometimes consistency in a BBQ place is desirable – what are the best BBQ chain restaurants in the country? The best BBQ chain restaurants include classics like Dickey’s BBQ and Famous Dave’s, plus some you might not have heard of, such as 4 Rivers Smokehouse and L&L Hawaiian B
As a master franchise investor and operator, Food Quest has made a name for itself among the leading international F&B brands across MENA. The brands currently under its management include Gourmet Burger Kitchen (GBK) and its homegrown brand EETEN. Food Quest also provides management support to Advance Investment LLC for the Denny’s Middle East Master Franchise.
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.
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