Remove Cash Management Remove Innovation Remove Pricing
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What Do Guests Think About Dynamic Pricing?

Modern Restaurant Management

Dynamic pricing would add friction to the guest experience, according to Capterra’s 2023 Dynamic Pricing in Restaurants. Sixty-five percent of consumers say dynamic pricing would make the decision of where and when to eat more difficult; 63 percent say it would make it harder to budget their restaurant spending.

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Engineered for Success: Boosting Profits through Intelligent Menu Planning

Modern Restaurant Management

By understanding customer behavior, strategically placing high-profit items, and incorporating innovative pricing strategies, restaurant owners can transform their menu into an influential factor driving business success. It involves strategic dish placement, pricing strategies, and understanding customer preferences.

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The Financial Burden of Owning Commercial Kitchen Equipment

Modern Restaurant Management

By paying regular lease payments over a specified period, you can preserve your capital and allocate your resources to other critical areas of your business, such as marketing, staff development, and menu innovation. These machines can vary in price, but even entry-level models can be costly.

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MRM EXCLUSIVE: Restaurants’ Lockdown Lessons Are Key to Coping with Soaring Costs

Modern Restaurant Management

Restaurants must keep innovating to elevate the diner experience. Food prices are soaring amidst supply chain disruptions, increasing labor costs, and processing plant shutdowns. Poultry prices are up 15 percent to 18 percent ; the cost of eggs has risen 73 percent. It’s a tough time to be in the restaurant business.

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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. This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits.

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Pandemic Reflections: What Lessons Has the Restaurant Industry Learned?, Part Two

Modern Restaurant Management

. – Sophia Goldberg, Founder and CEO, Ansa The big lesson I learned is that I've had to continue to adapt my pricing, because people are still watching their spending. That's why we instituted lower-priced lunch specials and made other adjustments. Technology has become a solution in staffing as well.

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How Small but Mighty Restaurants Can Optimize Data to Muscle Up Growth

Modern Restaurant Management

Let’s say the price of beef goes up. Reviewing your data from past menu adjustments may reveal an increase in the price of a chicken sandwich would create less of an impact on sales than bumping up the price of a hamburger. Gather information to help you innovate processes.