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2024 Outlook: Restaurant Trends and Challenges, Part One

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. Just as the transition to renewables and electric vehicles has thrived on collaborative efforts, we foresee more collaboration for the cultivated meat industry in 2024.

2024 493
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It’s Not Christmas in Buenos Aires Without Pan Dulce

EATER

He describes the bread as dried fruit with some dough, instead of the other way around, because of the enormous amount of merchandise that goes into it. Its an end-of-year conversation that is very common in Buenos Aires: Hey, whats the price of the Plaza Mayor pan dulce this year? Its like the Big Mac index, Caparrs says.

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7 key restaurant revenue streams to prioritize in 2024

7 Shifts

Profitability remains a challenge for many restaurants, especially with prices for ingredients and labor going up. With an expected annual growth rate of 4.57% from 2024 to 2029, meal kits provide an opportunity to increase revenue and reach more customers. In fact, only 27% of restaurant owners expect to be more profitable this year.

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Understanding Restaurant Finances & Financial Statements in 2024

7 Shifts

By analyzing these reports, you can optimize pricing, control restaurant costs , reduce waste, and improve overall profitability. Because the sales report shows the revenue generated by each menu item, you can set your pricing appropriately to maintain healthy profit margins. This balance helps in maintaining optimal labor costs.

2024 221
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How Walmart Got Its Hands on the Coolest Pantry Brands

EATER

Known for its “Every Day Low Prices,” the chain is the country’s dominant grocery retailer. Fly By Jing also had to come up with an “Every Day Low Price” — Walmart doesn’t do sales and promotions like other grocery stores do — that would be both appealing to Walmart customers and profitable for her company. at Walmart.

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What’s in a Name? Protecting a Brand Trademark

Modern Restaurant Management

After this attempt at circumventing the coexistence agreement and other breaches include use of the food truck outside the authorized region, Whatabrands brought suit against WAB13 on June 11, 2024 for trademark infringement. Trusted brands can demand higher prices and maintain customer loyalty, which are both keys to a profitable business.

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Restaurant Profit Margin: 7 Ways To Actually Make Your Operation More Profitable

SpotOn

At the beginning of 2024, the NRA reported that 73% of operators expected profit to be less or the same over the year, with 38% saying they didn't make any profit in 2023. This is all the income from your food and beverage sales, catering, branded merchandise, packaged goods, venue hire, etc. Labor costs. Overhead costs.