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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.
As diners return to their favorite restaurants, bars, and other eating establishments, restaurateurs are feeling the strain put on the food supply chain. Brands are looking to restaurant technology to maintain a healthy connection with their suppliers, experiment faster, and predict the performance of new concepts and service models.
In this article, you will learn: The five most important restaurant costs to track and manage Easy strategies for controllingfoodcosts and labor costs Tactics to save money without hurting your guest experience Lets start with the big picture and learn where your money is actually going.
But the challenges don’t stop there—once open you have to focus on improving processes, managing labor schedules, and controlling restaurant costs. Indeed, controlling restaurant costs is one of your biggest challenges. So, how do you remain ahead of the curve? What costs do you focus on?
Due to the Covid-19 outbreak effect on the restaurant industry, Modern Restaurant Management (MRM) magazine is compiling a list of resources available for restaurant owners, operators and managers. To be added to this guide, reach out to Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com.
Learning basic accounting is like studying a different language, regardless of how many decades you have in the restaurant industry. 3 steps to get started with basic restaurant accounting Before jumping right to the know-how, it’s essential that you understand the basics of restaurant accounting first.
Our company welcomes technology that will help our team members maximize time and efficiency and make their jobs more doable and enjoyable, creating a better experience for them and customers alike. Here are their insights. Frances Allen CEO at Checkers & Rally’s. Clinton Anderson, CEO, Fourth Enterprises.
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 2024. This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits.
Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. This will enable brands to bettermanage off-premises orders and balance their hybrid operating models. For part two, click here.
The pandemic has permanently altered the consumer-restaurant relationship with operators investing in technology and real estate to align with changing consumer preferences, according to the 2021 Restaurant Franchise Pulse survey, conducted by TD Bank. Investment in delivery and mobile ordering pays off.
Running a successful restaurant in 2025 means more than just great food—it requires smart financial decisions. With rising ingredient prices, labor shortages, and tighter margins, operators must find strategic ways to reduce restaurant costs without compromising quality or customer experience. Foodcostcontrol is crucial.
Every great restaurant has many parts that contribute to its success: delicious food, excellent customer service, an inviting atmosphere, and competent staff. But restaurant management is the glue that holds it all together. What is Restaurant Management? Here's a breakdown of the major restaurant manager responsibilities.
In 2020, the number of establishments in the food and beverage industry was estimated to be 23.1 These figures prove how tough the competition is in this industry and how important it is to devise unconventional tactics and extraordinary strategies to stay ahead. How do you create a good restaurant marketing strategy?
Rebates from one supplier. Bulk order discounts from another. That’s because, next to inventory management, F&B purchasing mistakes are the number #1 reason why operators struggle to get their foodcosts under control. And ready to tear down those mounting foodcosts to shreds.
Running a successful restaurant involves more than just serving great food. After all, profit is how much your restaurant is making on a day-to-day basis and provides an indication of how well you’re doing. It’s an all-important metric that influences everything from menu pricing to operational decisions and beyond.
So how do you drive long-term restaurant profitability? You can achieve a better sales margin by increasing sales revenue and decreasing expenses. Wages and foodcosts inevitably rise over time. As a restaurant owner or operator, you always have restaurant profitability on your mind. Long-term profitability strategies.
CoGS: Cost of Goods Sold Restaurant Industry Average . The average cost of goods sold in the restaurant industry varies, but it sits around 30% to 35%. Cost Of Goods Sold Restaurant Industry Average . CoGS is how much it costs you to produce a menu item. Cost of items intended for resale. .
Managing inventory and supplier ordering is like juggling flaming torches while riding a unicycle (which also happens to be on fire). Picture this: You have to order the correct ingredients, in precise quantities, at the right time, from various suppliers without knowing future sales. That’s a daunting task.
In this guide, we’ll examine the definitions and calculations for different types of restaurant profit margins and discuss the best ways to improve them through better inventory and purchasing management, tech integrations, and analytics. It takes into account your COGS, overheads, and variable costs.
In practice, however, successfully managing a group of busy restaurants is an awfully tough undertaking. The metrics and calculations in this list will help you bring order to the chaos and manage the performance of each unit in the chain. Example Take Fabio Haebel , founder of the popular dark kitchen network Circus in Hamburg.
In such circumstances, your ability to run business operations without reducing the quality of food and service can be the difference between failure and success. By limiting your restaurant to a ‘cash-only’ payment model, you turn away many customers from your doors and effectively miss out on a significant portion of your target market.
restaurant industry has shown remarkable resiliency, having lost as much as 35 percent of visits at the beginning of the pandemic, but still has a ways to go to get back to pre-pandemic levels, reports The NPD Group. Visits at the dinner daypart were down -5 percent in May 2021 from a year ago and -12 percent from two years ago.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features a gloomy start to the new year, dining trends for 2020, the importance of discounts, holiday gift card sales results, delivery frustrations, soda curiosity and a consumer culture report. An Uncertain Start to 2020? Same-store sales growth was -2.1
Throughout the pandemic, QSR restaurants, particularly chains, benefitted from well-established off-premises services, like carry-out, drive-thru, and delivery. Despite the gains, FSR dine-in visits are down -37 percent from the second quarter of 2019. foodservice industry. “The U.S. “The U.S.
Cyndi directs the activities of employees in the accounting department to manage the accounting process through financial statements and is responsible for the overall management of the corporate office. In 1991 she was promoted to Accounting Manager and in 2009 to Director of Accounting.
That’s why foodcostcontrol should be a key objective for any restaurant. Keeping foodcostsmanageable is a great way to ensure expenses don’t eat into that already razor thin profit margin. What are the best foodcostcontrol methods? What is foodcostcontrol?
That’s why foodcostcontrol should be a key objective for any restaurant. Keeping foodcostsmanageable is a great way to ensure expenses don’t eat into that already razor thin profit margin. What are the best foodcostcontrol methods? What is foodcostcontrol?
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. American Diner Trends Despite a higher cost of living, the average consumer’s dining habits are unchanged.
In this edition of MRM News Bites, we have tech investments, new products, charitable endeavors and more. Yelp launched a number of new features to support businesses owners who have adapted their operational models, in addition to giving consumers the ability to better discover businesses that meet their needs. Yelp Virtual Services.
In this edition of MRM News Bites, we feature updated links for the PPP, the acquisition of Grubhub and contactless products and services. In a deal that creates the world’s largest online food delivery company outside of China, Just Eat Takeaway.com plans to acquire 100 percent of the shares of Grubhub in an all-stock transaction.
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