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In 2023, a study carried out in Europe and North America took a much closer look at delivery sustainability. This trend of seeking out a more sustainable process of e-commerce related to food goods is not going away anytime soon. More than 63 percent of municipal solid waste in the US was a result of food packaging. In the U.S.,
In 2023, a study carried out in Europe and North America took a much closer look at delivery sustainability. This trend of seeking out a more sustainable process of e-commerce related to food goods is not going away anytime soon. More than 63 percent of municipal solid waste in the US was a result of food packaging. In the U.S.,
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.
Sales of induction stoves are on the rise in the U.S., representing 18 percent of sales in 2023. Just as Chatham alumna Rachel Carson’s pioneering work in sustainability changed America’s understanding of the environment, our induction advocacy will change the future of the culinary industry.”
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.
In response to rising food costs, 56 percent of respondents said they planned to increase menu prices, down from 61 percent earlier in the year, and 18 percent said they doubled down on inventory and waste tracking, up two percentage points.
A spike in food costs, a drop in sales volume, or one slow season can wipe out months of hard work. A spike in food costs, a drop in sales volume, or one slow season can wipe out months of hard work. For example: Lets say your restaurant made $100,000 in total sales last month. What Are Restaurant Profit Margins?
It blends sales data, food cost, and menu psychology to help you stop guessing and start making decisions that grow your margins. If you want to escape the guesswork and increase your monthly profits, you need to use menu engineeringit blends psychology, data, and clever design to help you sell more of your most profitable items.
A single mistakelike forgetting to accept an order on one app while preparing anothercan result in a frustrated customer and a lost sale. These small errors add up, leading to unhappy customers, negative reviews, and wasted food costs. These small errors add up, leading to unhappy customers, negative reviews, and wasted food costs.
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.
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%
Cost of Goods Sold (COGS) Cost of Goods Sold tells you how much it actually costs to make the food and beverage sales you sell. Monitoring your COGS helps you spot food waste, theft, over-ordering, or supplier price hikes before they eat into your gross profit margin.
By the time you finish this article, youll know how to approach restaurant marketing the right way and not waste time doing guesswork, crossing your fingers, and then hoping you see new customers walking through the door. This guide will teach you everything you need to know about getting started with restaurant marketing.
Smart Cost-Cutting Strategies for Restaurants Effective inventory management requires a well-trained, organized team using consistent routines, streamlined processes, accurate par levels, menu cross-utilization, and reliable inventory software to minimize waste and maintain efficiency.
Gross Profit Margin Definition of Gross Profit Margin Gross profit margin shows the money left after subtracting the cost of goods sold (CoGS) from total sales. Steps to Calculate Gross Profit Margin Find your total sales revenue for a specific period. Subtract CoGS from total sales to get gross profit. Add total labor costs.
By analyzing ordering patterns, sales trends, and customer preferences using the POS systems System, they can make data-driven decisions to optimize menu offerings, highlight popular dishes, and introduce profitable items. This approach also helps reduce food waste and maximize customer satisfaction. The result?
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.
Earlier this week, Starbucks denied reports that it’s seeking a full sale of its China operations. The coffee chain started a formal sales process for its China division in May 2025, which CEO Brian Niccol claims has attracted strong investor interest. The sale comes off the back of Starbucks’ continued market struggles in China.
Professional tips for hospitality accounting that directly contribute to sustained business growth. Sales tax, payroll taxes, income tax – the list is extensive. Profit margins are notoriously narrow, and navigating the complexities of expenses, payroll and tax compliance can make or break even the most promising culinary venture.
While a modern KDS is a solid starting point, adopting a holistic kitchen management system will take your operations even further. Enhance order accuracy Sixty-four percent of brands surveyed say that order accuracy is mediocre or weak, which has a direct impact on guest satisfaction. The best part? billion in 2024 from USD 6.08
I spoke with Kacper Ornat and Łukasz Jura at Coffee Machines Sale and Nikolai Fürst at Desarrolladores de Café about why quality control is more important than ever in today’s competitive specialty coffee market. You may also like our article on why roasters and coffee shops need to strategise menu pricing.
A strong understanding of the basic accounting practices allows you grow your profitability and run your restaurant in a financially sustainable manner. A strong understanding of the basic accounting practices allows you grow your profitability and run your restaurant in a financially sustainable manner.
While a modern KDS is a solid starting point, adopting a modern kitchen management system will take your operations even further. Enhance order accuracy Sixty-four percent of brands surveyed say that order accuracy is mediocre or weak, which has a direct impact on guest satisfaction. The best part? billion in 2024 from USD 6.08
It requires accurate data on food costs, total sales, overhead costs, labor costs, and all the many costs in between. You just plug in the numbers alongside your current menu prices and item sales and it does all the number crunching for you. When you go out to eat, you're not just paying for the food.
At its core, sustainable growth and profitability are inextricably linked to accurate accounting and strategic financial advisory. Point-of-Sale (POS) System Integration: Seamless integration of POS data into accounting systems is crucial for real-time sales tracking, accurate revenue recognition, and identifying trends.
Cloud-based POS systems offer instant access to critical data – sales figures, staff performance, and customer preferences – via any internet-connected device. For instance, a pizza chain with multiple locations adopted a centralized POS system that standardized stock updates and waste tracking, cutting discrepancies by 85%.
Fluctuating Occupancy/Demand: For hotels, occupancy rates directly impact revenue, while for restaurants, daily covers drive sales. Point-of-Sale (POS) Integration: Seamless integration with POS systems is critical for capturing sales data, managing inventory in real-time, and ensuring accurate revenue reporting.
It’s the invisible framework that supports informed decision-making, ensures regulatory compliance, and illuminates the path to sustained growth. A single percentage point difference in food costs or labor can be the difference between profit and loss.
By understanding the intricacies of this specialized accounting, eateries can effectively manage their finances, increasing profitability and sustainability. Nearly 60% of restaurants fail within the first year, often due to poor financial management. This statistic highlights the critical role of effective restaurant accounting services.
You can discover more about how education empowers smarter decisions and drives sustainable success in today’s competitive landscape. Use Technology Like a Pro, Not a Fanboy Point-of-sale systems, reservation platforms, inventory management apps — these aren't flashy gadgets. Simplify where needed. Trim the fat.
These books aid in tracking sales, managing payroll, and handling expenses accurately. We’ll explore why these books are indispensable in daily operations, dissect their key components from sales to payroll, and highlight common pitfalls in restaurant bookkeeping.
Whether through restaurant bookkeeping NYC or hotel bookkeeping, precise recordkeeping helps reduce waste, improve cash flow, and streamline compliance with New York bookkeeping standards. Just as the backbone holds up the body, so does financial accounting underpin the success of hospitality businesses.
Financial data analysis and tracking KPIs are vital for identifying areas of improvement and driving sustainable business growth. In the bustling world of gastronomy, the art of restaurant bookkeeping often takes a backseat. It’s a nuanced dance, balancing income and expenditure, ensuring the financial health of the establishment.
“It now accounts for a larger share of sales for 58 percent of limited-service and 41 percent of full-service operators compared with 2019—providing a critical path to restaurant resilience and growth despite ongoing economic pressures.” More than 60 percent say they’re ordering off-premises more often than a year ago.
As economic pressures and fluctuating food costs persist, these technologies will be critical for maintaining profitability and ensuring long-term sustainability. Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2025.
Consider a bustling restaurant, ‘Culinary Delights’, that, despite its popularity, had to shut its doors due to poor financial management. They’d overlooked the importance of a top-notch bookkeeping service, and it cost them their business. Learn more about our Accounting Services !
In this article, well explore how QSRs can avoid the five deadly sins of delivery and build a more sustainable approach to customer loyalty. Regardless of the reason, every pause hurts short-term sales and your platform position, which means fewer potential customers see your store, jeopardizing long-term sales as well.
Enables Accurate Forecasting: Understanding past trends and predicting future demand allows for better resource allocation, staffing decisions, and purchasing, reducing waste and improving efficiency. This flexibility ensures that you’re always selling at the optimal price point, maximizing revenue for every room sold.
Yet, it’s the behind-the-scenes financial management, from tracking revenues to managing expenses, that helps ensure the hotel’s long-term profitability and sustainability. With numerous transactions happening daily, from food and beverage sales to room bookings, it’s essential that every cent is accounted for.
AI can also improve sustainability within restaurants – and throughout their supply chains – with huge benefits that include waste and carbon emissions reduction, cost savings, and meeting consumer demand. For instance, AI can help drive the following benefits: Improving transparency throughout the supply chain.
Dynamic pricing is not new; for decades, the airline, fashion, and hospitality industries have all found that dynamic pricing — the incremental adjustments to prices to reflect inventory, demand, and supply — has helped companies cut waste and save money. Sanders says this isn’t to be confused with simple last-minute clearance sales.
Luckily, a commitment to more sustainable operations can coexist with healthy profits, and even growing margins. Below are five important areas of focus for restaurant and catering professionals who are re-imagining their operations for a newer, more sustainable normal. First Priority: Getting Smarter.
It also continues its rapid growth internationally by adding franchise development deals for France, Morocco, Egypt, Kuwait, and Bahrain to its international market now totaling 64 stores. In total, 165 stores are set to open. Randy’s Donuts is also in negotiations for dozens of stores throughout California and other states.
While the restaurant industry has experienced major supply chain and labor issues throughout the pandemic, it is now reaching a tipping point. To position themselves for sustainable growth, restaurants must respond quickly. Inflation on both wages and commodities are putting major margin pressure on brands.
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