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From franchise compliance to mergers and acquisitions (M&A) terms, the right legal frameworks can guide a restaurant company to long-term, sustained success. A carefully crafted Franchise Disclosure Document (FDD) and clear franchise agreements are key to setting expectations and maintaining transparency with your franchise partners.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. ” Dickey’s is now offering a franchise discount for existing Owners Operators. . Virtual Barbecue Pit. Hot for Dave's Hot Chicken. 10 units in Chicago.
MRM's Franchise Feed features news on the restaurant franchise and MUFSO landscape. The group plans to grow both Ike’s and Bangin’ Buns through franchising starting in 2023. Habit Signs Franchise Development Deal. Wing Zone Refresh. Wing Zone is getting a new look, top photo. It is advancing its U.S.
Some of the biggest restaurant businesses on the planet are franchises. They employ thousands of people and have served billions, and with so many people affected, it's understandable why there are franchise-specific laws and regulations in place. What Does Franchise Compliance Even Mean? Who Regulates Franchise Compliance Laws?
Instead, these locations are franchised, meaning a company (the franchisor) allows an individual or group of partners (the franchisee or franchisees) to run a location of that restaurant under a certain operating agreement. At a glance, opening and operating a restaurant franchise seems like a near-perfect business decision.
The people have spoken, and your restaurant franchise is a winner. Therefore, it might be time to expand your franchise and lay the foundation for one (or even several) more franchise locations. Read on for our actionable, step-by-step process on how to expand your franchise. Next, you need a location.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. ” ICV acquired DRH in an all cash transaction valued at approximately $130 million, including the assumption of outstanding indebtedness and transaction expenses.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. Tropical Smoothie Cafe signed two multi-unit franchise agreements to develop 38 new cafes across the state of Colorado, including a 27-unit deal and an 11-unit deal. . "My
This surge in off-premise orders forced restaurants to optimize their operational workflows, from kitchen management and packaging to delivery logistics. Furthermore, digital tools for inventory and labor management became crucial for navigating supply chain disruptions and staffing challenges. Most widely felt is the labor epidemic.
It was so well received that I ended up franchising it. By then, he had a well-oiled, cash-flowing operation that he could sell at a premium. First, if you are skimming some cash off the top, you need to stop now. This valuation also assumes you have a single location without the infrastructure to manage or scale multiple units.
In a study conducted by InGage Consulting and Franchise Business Review, franchisees that are engaged in their business are 3.7 The top-performing restaurant franchises have robust training and support in place — but that doesn’t always mean it’s centralized and organized. Create a Central Hub with Engaging Content.
" TGI Fridays Franchisor, LLC has franchised the brand to 56 franchisees in 41 countries. All of these franchise locations, both domestic and international, are independently owned and therefore not included in TGI Fridays Inc.’s ’s Chapter 11 process.
Through my 26 years working in franchise development, I have seen first-hand the intrinsic value of the franchise business model. Refranchising involves the purchase of a corporate-owned location that is already constructed, operating and has existing cash flow. As the Franchisor. As the Franchisee.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features the state of flavor, COVID-19 restaurant operations, public acceptance of delivery charges, the best of the best and the most allergy-friendly restaurant chains. ” Franchise Sale to Explode. DoorDash Deep Dish.
It’s hard to escape the continuing boom in restaurant franchises. Quick-serve brands are leading the trend, and not just for restaurants, but for franchises overall. Even experienced operators know that navigating the compliance requirements laid out by each state’s franchise registration rules isn’t easy.
Of these, one of the biggest challenges facing independent, franchised and fast-casual restaurants is staffing. Facing multiple headwinds, restaurant owners and management must employ the most effective tool available: effective communication. A good starting point for addressing many issues is use of a manager’s log.
and will enable TouchBistro to fully integrate customer loyalty and guest marketing into its all-in-one point-of-sale (POS) and restaurant management platform. This year’s Neighborhood to Nation Contest will double the number of winners to award 20 prizes of $5,000 in cash along with a robust marketing package.
AI can assist restaurants in optimizing how they manage and operate menus to increase margins. Just look at how brands will attract more customers; CallBurger franchise in Pasadena showcasing a burger-flipping robot named Flippy, or Dominos using drones to deliver pizzas in New Zealand. How can a smaller restaurants compete with that?
Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their opinions on what we can expect in 2021. Rick Camac, Dean, Restaurant & Hospitality Management at ICE (Institute of Culinary Education). Ross Franklin, CEO and Founder of Pure Green Franchise. Here are their responses.
The loss of volume for the franchise, the forfeiture of jobs for the community, and the closed restaurant locations could have been avoided with a thoughtful succession plan. Despite this, restaurant owners and franchise brands routinely shy away from discussions around exit strategies or succession planning.
Feature-rich mobile POS systems have evolved to processing orders, sending tickets to the kitchen, providing detailed reporting and offering thorough inventory and business management. Cash registers are a technology of the past as business owners now focus on greater flexibility and control.
Tracking and understanding your restaurant’s cash flow is essential, whether business is booming, or times are tough. A healthy, positive cash flow is necessary to pay your bills and grow sales. Monitoring your cash flow is more important than ever during the COVID-19 outbreak. How to calculate restaurant cash flow.
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. Sign up here.
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 restaurant industry insiders for their perspection on 2020: What lessons did you learn and what do you feel the restaurant industry learned this year? Rick Camac Dean, Restaurant & Hospitality Management at ICE (Institute of Culinary Education). Here are their responses.
The company has also added a Deep Cleaning Checklist and guiding principles for Managing Indoor Air. ” Here’s how Drive Kindness works: Drive Kindness’ franchise owners will charge restaurants a flat rate. Webinars : US Foods regularly introduces new webinars, and recently added Holiday Profits to the schedule.
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. " Restaurant real estate changes to align with consumer preference.
Most people do not want to order in person or by calling if they have an alternative, and by integrating pickup with delivery orders our restaurant partners have a complete picture to more efficiently manage their operations." " Grubhub Ultimate back-of-house Kitchen Display System at Taheni Grill in New York City.
US Foods Holding Corp.entered into a definitive agreement to acquire Smart Foodservice Warehouse Stores from funds managed by affiliates of Apollo Global Management, Inc. NYSE: APO) (the “Apollo Funds”) for $970 million in cash.
Among the PPP program’s many shortcomings was its failure to reach businesses owned by women and people of color, with enormous sums of money instead being directed to franchise locations of national chain restaurants. Restaurants don’t typically maintain enough cash flow to get through a week of closure, never mind half a year.”.
Joe Nicholson was a manager and tech consultant at one of the busiest restaurants in Sacramento, CA—Tower Cafe. Now, as a copywriter at SpotOn, he helps restaurant owners and managers learn how to run a more profitable operation. Leasing allows for lower upfront costs but results in ongoing monthly payments Management fees.
To add resources to these guides, reach out to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com with news. The National Restaurant Association-managed site also provides a direct connection to the industry’s grassroots engagement platform.
Back-of-House (BOH) Systems: BOH platforms offer streamlined inventory management, staff coordination and kitchen operations tracking. Payroll Portals: Payroll platforms track employee hours, manage schedules and process payments seamlessly. Was a new manager on duty? These systems help optimize efficiency behind the scenes.
. “They’ve had to basically adapt and change their entire business model,” says Yang Yang, an associate professor in the School of Sport, Tourism and Hospitality Management (STHM) at Temple University. Good management of online reviews can make a difference.
Our team is thrilled to partner with BurgerFi’s senior management to support the numerous growth initiatives underway and to drive operational excellence.” million newly issued shares of the Company and $30 million in cash. Adam Marcus, Managing Director at PSG.? ’s stock price performance.
All of the ingredients of success come down to how you manage your money to keep costs under control and bring in profits. Note that this budget could apply to a new restaurant, a new branch/franchise or a major renovation. We’ve got a few tips to effectively manage your restaurant business budget.
Recently celebrating its 25th anniversary, the Minneapolis-based restaurant franchise was founded on Dave Anderson's passion for BBQ. Modern Restaurant Management (MRM) magazine quizzed Anderson and Sr. Famous Dave's is one restaurant brand that evokes salivation satisfaction. How is tech incorporated into operations?
Modern Restaurat Management (MRM) magazine is collaborating with the team at MarketScale on The Main Course , a podcast that aims to explore the intense and competitive modern restaurant industry. "We Barbara Castiglia , MODERATOR – Modern Restaurant Management. The Main Course. Space is limited, so click here to register.
Modern Restaurant Management (MRM) magazine asked restaurant industry insiders for their views on trends. With more options to work outside of the hospitality industry, operators must offer employees more scheduling flexibility, facilitate transparent communication between management and team members, and avoid overworking staff.
Instead, you’ll find a much smaller digital menu backlit above the cash register, soda fountains have replaced the cooler behind the counter, and there are stiff new vinyl booths. Almost all were managed and staffed by Afghan immigrants who had fled the Soviet occupation of Afghanistan. Clay Williams. Mike Diago.
parent company of fast-casual restaurant chain The Habit Burger Grill, for approximately $375 million in a cash transaction. Founded in 1969, The Habit Burger Grill operates nearly 300 company-owned and franchised restaurants across the United States and in China. and will continue to be managed by Russell Bendel, president and c.e.o.,
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features Grubhub's State of the Plate 2020 trend report, the fragility of "open," di g ital resilience and brand intimacy. Financial Trends Insights. “As with virtually all industries, the pandemic has greatly impacted fast food.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features consumers' dining desires, the power of personalization and the untapped opportunity in localized marketing. 45 percent of those surveyed coordinate marketing efforts between corporate marketing teams and local franchise owners.
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