Remove Consumer Goods Remove Customer Service Remove Point of Sale
article thumbnail

Dynamic Pricing in Fast Food: Profit-Driver or Diner Turnoff?

Modern Restaurant Management

Faced with rising labor costs and increasingly price-sensitive customers, restaurant brands are exploring new ways to balance profitability with consumer expectations. The findings reveal critical insights into how dynamic pricing impacts customer behavior and what strategies might retain loyalty in a competitive market.

Pricing 178
article thumbnail

Restaurant Accounting: A Comprehensive Guide

7 Shifts

By tracking metrics like customer retention and employee turnover rate, contribution margin, and menu item profitability, restaurant managers can identify each area’s strengths and what areas need improvement. It involves tracking massive amounts of real data and industry benchmarks. Sounds complicated?

Insiders

Sign Up for our Newsletter

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

Trending Sources

article thumbnail

How Does A Point Of Sale System Work?

BNG Point of Sale

Chances are, if you’re starting a business in retail or restaurant, people in the industry will tell you to purchase a point of sale system. If you’re new to the business, a “point of sale” or POS system is a piece of technology in which hardware and software components are used to take payments from customers.

article thumbnail

Customer Service Trends in the Restaurant Industry to Look For in 2020

Modern Restaurant Management

Now that consumers have become more particular with dining, service standards have skyrocketed, and expectations are higher than ever before. When people decide to dine in your establishment, they don’t just want to eat good food; they want to have a pleasant experience, as well. Self-Service Tech.

article thumbnail

Owning a Bar: Everything You Need to Know

7 Shifts

Buying into a franchise can be a good option because it provides support and brand recognition. An alternative is to buy an existing bar that is up for sale. This could be a good choice if you find a business that is already established and has a loyal customer base. How Do I Run a Profitable Bar?

Bar 370
article thumbnail

Value Meals: A 3M Strategy for Restaurant Success

Modern Restaurant Management

Shares of major quick-service restaurant (QSR) brands experienced double-digit drops, consumer confidence declined, and traffic at fast-food restaurants was down by 2.1 Will the summer sun heat up sales? Positive net sales in May (+1.9 May was a challenging month for restaurant companies. percent YOY in May.

2024 189
article thumbnail

34 Restaurant Marketing Ideas: How To Market Your Restaurant in 2024

7 Shifts

After analyzing the latest industry trends, viral content, and successful campaigns, we have developed an all-in-one marketing guide to help you craft your strategy to attract new customers and keep your previous diners coming back. How do you create a good restaurant marketing strategy?

Marketing 195