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Restaurant Menu Pricing: How to Set Prices That Boost Profits And Keep Customers

ChowNow

One approach is to use a contribution margin model : after youve calculated food cost, ask yourself how much money is left from the sale of a menu item to cover everything else. Yes, competitor pricing can give you a ballpark idea of what customers in your area expect to paybut it shouldnt be your only reference point.

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Seven Ways Restaurants Can Leverage Gamification to Increase Guest Engagement

Modern Restaurant Management

Say you spend five bucks in MoonDollars coffee shop, and you get rewarded with five redeemable points that you can spend towards another coffee sometime. By offering points in exchange for dollars spent, you’re incentivizing people to spend more dollars in your store. It’s a very small reward for a lot of loyalty.

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How to apply for the Restaurant Revitalization Fund grants

7 Shifts

The Small Business Administration has announced that grants will open on Monday, May 3 at noon EST. Restaurateurs and operators can begin the application process on Friday, April 30 at 9 AM EST. Set your alarms and make sure you're ready, as it's expected that the demand will outweigh the supply of funds. The fund sets aside $28.6

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MRM Research Roundup: Mid-April 2020 Edition

Modern Restaurant Management

This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features the dismal March restaurant sales, security, loyalty, trends and teen consumer behaviors. March Sales Decline. Same-store sales for restaurants dropped by 28.3 Same-store sales for restaurants dropped by 28.3 percent in March.

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10 Proven Restaurant Management Tips and Tricks for Success

Harbor Touch

From smarter hiring to prepping for busy seasons, were sharing strategies that work across small bistros and bustling chains alike. Our goal is simple: give you tools to streamline operations, cut costs, and grow your business without burning out. Check references carefully and run quick trials. Small perks go far too.

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How to Write a Restaurant Business Plan [with Sample]

7 Shifts

A restaurant business plan is one of the most (if not the most) essential elements in getting a new restaurant off the ground. There are a few reasons for this: A business plan is typically the first thing any lender or investor will want to look at. You'll have a document to reference during the planning or opening of your restaurant.

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What the Heck is a KPI and Why You Should Give a Sh*t

Embrace the Suck

Profits are sliding away a small percent at a time until you wake up one day in panic mode. Profits are sliding away a small percent at a time until you wake up one day in panic mode. All this could’ve been avoided if you had your finger constantly on the financial pulse of your business. What the Hell is a KPI?