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Steady Online Ordering Brings Food Waste, Donations to the Forefront of Priorities Ordering food online increases restaurant sales, but it also can potentially increase wasted food if proactive measures aren’t taken – for both the business and consumers at home.
One key area to focus on is drink sales, with cocktail sales accounting for about 23% of a bar's revenue. Start by tracking all the income your bar generates, including sales from drinks, food, and any additional services. Bars that effectively manage their inventory and reduce waste tend to maintain higher margins.
You can also use sales trends to adjust menu pricing and share customer-favorite menu items, helping you get the most out of high-demand dishes. You can also use sales trends to adjust menu pricing and share customer-favorite menu items, helping you get the most out of high-demand dishes. Restaurants collect a ton of customer data.
Quick-service restaurants maintain a steady customer satisfaction score of 79 (on a 100 point scale), while full-service restaurants — despite slipping 2 percent to 82 — remain one of the highest-rated industries in the Index, according to the American Customer Satisfaction Index (ACSI®) Restaurant and Food Delivery Study 2025.
Read on for predictions from industry insiders that include chili crunch, black limes, newstaglia, stealth health, and elevated snacking. Culinary and Cocktail Trend Forecasts Kimpton is returning with its annual Culinary + Cocktail Trend Forecast highlighting predictions from its global team of restaurant and beverage talent.
Real-time inventory systems help restaurants cut food waste , save money, and improve operations. Here’s how: Track Stock in Real-Time : Monitor inventory levels instantly to avoid overstocking or understocking. Forecast Demand : Use sales data to predict future needs and order the right quantities.
Consistency and Efficiency Across Multiple Locations Technology is also key to consistency and efficiency in restaurant group management: Automated Inventory Management: Businesses can reduce human error by automating inventory tracking. Inventory management software: Tracks stock in real-time.
It’s like knowing how to make a schedule, do inventory, or cover a section of tables if a server calls out sick and you’re shorthanded. Knowing how to cost a dish is one of those “absolutely must-have” skill sets for restaurant owners. It’s just part of the job. It’s the foundation of knowing your actual food cost.
Hacienda La Esmeralda won all three main categories, a first for the competition, and achieved record-breaking scores of 97 and 98 points for its natural and washed Geshas, respectively. With scores of 97 and 98 points, we may see a new world record for coffee prices in just a few months. The BoP auction will take place on 6 August.
billion transactions and $67 billion in sales in 2024. Companies saw a sales boost in 2024 as loyalty transactions increased by over 30 percent. This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features delivery data, tariff troubles, summer dining trends, and Beer Serves America.
Editor’s note Specialty coffee consumption in the US has reached a 14‑year high. According to the National Coffee Association, 46% of adults in the US reported drinking a specialty coffee in the past day, up 84% since 2011 and surpassing past-day traditional coffee consumption at 42%. London September ICE robusta futures fell by 6.4%
From improving customer satisfaction to managing inventory, every day presents a new opportunity to optimize operations. In 2025, one of the most powerful tools at your disposal will be your Point of Sale (POS) system. As a restaurant operator or owner, youre no stranger to the challenges of running a successful business.
Restaurant accounting is the process of interpreting and analyzing the revenue, cash flow, inventory, and income statements of a restaurant. Let’s start with some basic terms: Cost of Goods Sold (COGS): This is the cost of all the items and ingredients on your menu (Beginning Inventory + Purchased Inventory – Ending Inventory).
Additionally, certified stockpiles are also running low; ICE warehouse inventories dropped below one million bags earlier this year. Coffee roasters around the world are struggling to navigate the rising tide of costs without losing loyal customers. At the same time, coffee consumers are growing more price-sensitive.
From managing orders and tracking inventory to analyzing sales data in real time, today’s POS systems are essential tools for restaurants of all sizes. Over time, these registers became more advanced, and they morphed into becoming multi-use point-of-sale or POS systems for restaurants.
If local sourcing is necessary, vet new suppliers carefully. But as thrilling as it is, expanding into a second location comes with its own unique set of challenges, especially when it comes to the logistics of moving into a new space while keeping your original restaurant running smoothly.
Source Vendors and Set Up Inventory Tracking Quality ingredients can set your deli apart from similar businesses in the area. If you are sourcing ingredients and products from multiple vendors, consider investing in inventory management software. Related: The Essential Guide to Restaurant Inventory Management Software 3.
This calculation involves dividing the cost of food sold by the total food sales and multiplying the result by 100 to get the food cost. By closely monitoring and optimizing this percentage, restaurants can better manage their inventory, minimize waste, and lower their overall expenses, ultimately maximizing cost reduction.
But simply gathering data points isnt enough. You might start with a known problem area, such as sales discrepancies, or focus on everything that affects one sector of your operations, such as staffing. Specify what data points you want to track and what numbers qualify as an exception. In any industry, information is power.
Theres especially concern over products of single-origin sourcing; single-origin products think vanilla, coffee beans, cinnamon, and spirits such as European wine and Mexican tequila have legally protected designations of origin , making them even more susceptible to price increases due to tariffs.
“We’re preparing restaurant operators and owners to take control of their tech stack and to use data as their primary source of truth in everything from guest satisfaction to cost controls. With alcohol sales shrinking, restaurants must reevaluate their offerings, menus, and inventory management to maintain profitability.
From information in delivery service provider portals such as DoorDash, Uber Eats and Grubhub to BOH operations and store sales figures tracked via POS systems, the data generated by everyday business operations is highly valuable but complex. For restaurants, that means harvesting information from internal and external sources.
In this post, well break down five clear signs that your point-of-sale system is holding your restaurant backand what you can do to fix it. Disconnected Systems : Managing multiple order sources without integration causes confusion. Inventory Issues : Manual stock counts and outdated tools lead to inaccuracies and waste.
Without clear ownership, even the best tool will become a source of friction. They’re also the pressure points. Data & Connectivity Layer: A Single Source of Truth Unify operations and scale. Most restaurant tech stacks weren’t really planned. It’s a reactive process. But that’s starting to change.
This shift ensures that operations run smoothly, and sales revenue is optimized. Whether it’s speeding up order times, improving inventory management, or boosting loyalty programs, every tool should serve a purpose. One of the biggest struggles for restaurants post-covid is staffing. This trend has held on in the last five years.
Some restaurant chain owners see the transition as a step toward going cashless in the future because restaurant point-of-sale systems make it so easy. With cashless options such as credit cards, mobile payment apps, and contactless payments, customers can make quick and hassle-free payments, reducing wait times at the point of sale.
"As awful as it was, the pandemic pushed restaurants to completely rethink their operations in order to survive, and some of the changes they made during the pandemic have continued to be beneficial to those restaurants and industry at large." Landlord/Tenant Disputes : in my practice, I have seen a huge increase in lease disputes.
Food/Beverage Sales: What percentage of your revenue should be coming from food and what percentage of sales are from beverages. In such an unpredictable environment, it’s not just beneficial, but crucial for operators to understand the fundamental drivers of their business: the numbers.
Use Technology Like a Pro, Not a Fanboy Point-of-sale systems, reservation platforms, inventory management apps — these aren't flashy gadgets. Scaling means sourcing smarter. By Trent Curry, Contributor Running a restaurant is like conducting a symphony on a tightrope. Simplify where needed. Trim the fat.
Financial accounting in hospitality can reveal inefficiencies in inventory management, for example, leading to a more judicious use of resources. Just as the backbone holds up the body, so does financial accounting underpin the success of hospitality businesses. But how exactly can hospitality entities build a stronger financial backbone?
You need to manage everything from costs and inventory to menu design to get this balance right. Inconsistent menu offerings A poorly managed inventory can lead to discrepancies between what’s listed on the menu and what’s actually available in the kitchen. The more locations you operate, the bigger the loss.
Make sure to document ingredient sources, standardize recipes with allergen labels, and double-check the accuracy of your data against supplier information. Managing food allergens isnt just a best practiceits a legal and safety necessity for todays restaurants. This reduces the chance of errors or miscommunication.
Most Restaurants Increased Sales in 2024 Approximately 63 percent of restaurant operators that manage finances said their profits in 2024 increased compared to last year. Most Restaurants Increased Sales in 2024 Approximately 63 percent of restaurant operators that manage finances said their profits in 2024 increased compared to last year.
Key data points: The demand for takeout and delivery has slightly outpaced the demand for dining in. This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features dining trends, hiring trends, tech trends, brunch trends, alcohol trends, and egg prices. Among delivery apps, DoorDash is the clear favorite.
In Delagets latest annual Operational Index, we noted these rather telling points regarding the industrys rapidly evolving sales channels: Drive-thru is down 8.1% In Delagets latest annual Operational Index, we noted these rather telling points regarding the industrys rapidly evolving sales channels: Drive-thru is down 8.1%
It involves a systematic process of understanding, anticipating, and influencing consumer behavior to maximize income, especially for perishable inventory like hotel rooms or airline seats. Key Takeaways Learn proven revenue management strategies for the hospitality industry. Explore practical tactics for hotels of all sizes and types.
While many operators struggled to keep expenses – particularly food and labor costs – under control, they also observed an increase in guest traffic and in profit margins, in part due to strong takeout and delivery sales. outlining the top challenges facing the industry, alongside the emerging trends shaping it.
Accounting for restaurants and bars often requires tracking numerous revenue streams, from food and beverage sales to event hosting. This intricate dance between numbers and people creates a fascinating landscape, one that begs for a closer look to truly appreciate the art of financial management in the hospitality industry.
Tracked from numerous sources, thoughtful analysis of this data can be the key to prioritizing needs, driving growth and so on. One of the most important sources is a restaurant’s POS system, or point-of-sale system. At the heart of this science is data. The answer lies in restaurant analytics.
Inventory stock changed significantly. By improving customer loyalty and increasing revenue through the smart use of technology from the public-facing part of the business all the way to the back-of-house prep, sourcing, and staffing. When the pandemic hit, many restaurants focused on expenses.
While brands are increasingly labeling their products with 2D barcodes, retailers have also recognized the value and committed to accept 2D barcodes at point of sale by 2027 in a GS1 US initiative called “ Sunrise 2027.”
Inventory turnover ratio. Break-even point. Sales per labor hour. Your CoGSs is an essential number to have when determining your menu prices, inventory and impacts your net profit margin. To calculate your COGs, you need the following numbers: Beginning Inventory, or the value of the inventory you start with.
Restaurant managers must have complete visibility into their suppliers’ sourcing practices to ensure their ingredients are safe, healthy, and high-quality. Restaurant managers must ensure that their suppliers’ sources are trustworthy, and their products are high-quality. Transparency is crucial in restaurant supply chains.
Seventy-four percent of full service restaurants (FSRs) managed to maintain or increase their sales during the pandemic; however, profit margins in 2021 declined to 10 percent, compared to 12 percent in 2019, according to third annual State of Full Service Restaurants Report released by TouchBistro.
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