article thumbnail

2024 Outlook: Restaurant Trends and Challenges, Part Three

Modern Restaurant Management

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. An issue that may arise from this in 2024 is data privacy. In 2024, we’ll continue to see growth in the payroll segment.

2024 539
article thumbnail

2024 Emergency Planning for Restaurants

Modern Restaurant Management

Ahead of 2024, we will share the all-too-common disasters that can strike restaurants from fires to civil unrest to water damage with pragmatic and proactive tips that can help curb the repercussions. Manage Access to Keys : Only distribute exterior-door keys to employees who must have access. Invest in a drop safe.

2024 474
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Building a Resilient Restaurant: A Guide to Scaling a Food Concept in 2024

Modern Restaurant Management

Scaling and Attracting Investors To effectively scale a multi-unit restaurant business in 2024, courting investors is often necessary. rent) and (v) cash-on-cash return / payback – how long and at what rate will investment in a specific location be returned.

2024 450
article thumbnail

Don’t Count Out Cash

Modern Restaurant Management

The demise of cash payments might be exaggerated as 90 percent of people select cash as their most widely used payment method and 89 percent consider the ability to pay in cash as important for their customer satisfaction, according to Why Won't Cash Just Die??? , a research report from PayComplete.

article thumbnail

How to Navigate Revenue and Expense Management: Competitive Insights for Financial Success

Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global

This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Effective Cash Flow Management 🔑 Learn strategies to manage your cash flow efficiently, ensuring liquidity and financial stability.

article thumbnail

Providing The Best Restaurant Customer Experience in 2024

7 Shifts

From creating a welcoming ambiance to offering unique menu items, let’s explore the ways you can refine your restaurant's customer experience in 2024. When it comes to operations, using restaurant management tools with easy scheduling features ensures you have the right number of staff during peak hours without over or under-scheduling.

article thumbnail

Cashless Consumer Creates Need for Secure Connectivity

Modern Restaurant Management

Credit card payments have been outpacing cash transactions for some time now. The use of cash continues to fall, down to just 19 percent in 2021, and at the same time, spurred by the pandemic and simultaneous advances, digital payments are on the rise. percent of payments by 2024. They’re expected to make up 51.7