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The hospitality industry constantly changes and evolves in the face of new industry and consumer trends. Unique socio-economic shifts also dictate the course of the market. Analysts and industry leaders continuously provide forecasts to give businesses a way to build their competitive advantage. The industry never stands still. Customer service is at the core of innovation and good business practices.
In the current climate, data is one of the strongest tools a restaurateur has in their arsenal. Data is integral for getting a rounded view of your business and making the right strategic decisions. Having the right sort of data allows you to plan, shift priorities and make changes on the fly based on cold hard proof of your sales numbers.
Successful restaurant owners and operators don’t just provide great food. For food service and hospitality in particular, an essential part of the guest experience is the interaction with employees. The people piece of the puzzle can be challenging for restaurants. Because of the complicated nature of human resources (HR) and the sprawling regulations surrounding payroll, HR and payroll can be a recurring headache for restaurant owners and operators.
After months of quarantine, consumers crave their favorite restaurant fare more than ever. We’re all a bit tired of cooking, and have grown bored with the limited menu of meals that we know how to prepare at home. The desire to eat out is greater than ever, and restaurants are reopening from coast to coast, with curbside pickup and delivery, new opportunistic outdoor dining areas, and other innovative approaches like drive-ins and carhop service.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
As restaurants rally to try and meet the requirements of the new protocol for operation – distancing tables, reducing customer volume, enforcing mask wearing, deep sanitizing of surfaces, moving to on-line menus or single use documents, removing anything from table tops that could carry the virus, and trying to calm the fear that both customers and employees share – they are even more concerned with the inability to convince employees to return to the job.
So far, 2020 has thrown marketing plans, advertising budgets, and restaurant growth out of the window. Whatever plans and forecasts you had for your restaurant are yesterday’s bread now. But as restaurants reopen and business starts to pick up again, it’s important you pick up your marketing plan too. There are only 4 months of 2020 left where you can push your restaurant’s marketing hard and set yourself up for success going into 2021.
Dani Berszt /Shutterstock. Without a bailout, independent restaurants face a disastrous fallout A few months ago, as restaurants suffered through the first months of a devastating pandemic, chefs and restaurant owners across the country went on social media to call for a government bailout. In their pleas, they said that without government support, their restaurants would close for good.
Dani Berszt /Shutterstock. Without a bailout, independent restaurants face a disastrous fallout A few months ago, as restaurants suffered through the first months of a devastating pandemic, chefs and restaurant owners across the country went on social media to call for a government bailout. In their pleas, they said that without government support, their restaurants would close for good.
With how the restaurant industry looks right now, from shifting consumer behavior and volatile demand, strategically pricing a menu has never been so complicated, nor so important. It doesn’t help that the costs of running a restaurant are higher than ever. According to an analysis by Buyers Edge Platform, a restaurant supply-chain company in Waltham, MA, restaurants are now spending 38% more just on food costs alone (1).
?. The COVID-19 pandemic has created an entirely new set of challenges for restaurateurs, their staff, and their customers alike. As on-premise dining resumes in many parts of the country, restaurants must adapt to the fact that safety expectations have shifted dramatically. Studies show that consumers feel more comfortable in lower-contact scenarios with clear health and safety standards , so it’s critical that restaurants accommodate these new preferences to meet the evolving demands of their
COVID-19 has indelibly changed every aspect of our lives. Its influence has created challenges, restructured social settings, and redefined meanings of common words and phrases. The terms "organic" and "clean," for example, have a new, heightened relevance with consumers in a post-COVID-19 environment with their hyper-focus on strengthening immune systems and preparing bodies for any potential interaction with the virus.
Difficult times in business can never be addressed with complacency. This is the time to double your efforts rather than allow yourself to get caught up in the malaise. There is always opportunity beyond business survival for those who commit to moving forward. William Channing once wrote: “Difficulties are meant to rouse, not discourage. The human spirit is to grow strong by conflict.”.
Get ready for the future of business. As HR navigates an ongoing labor shortage, leaders need stronger, more adaptable recruiting strategies. Do you have the tools you need to build a talent pipeline that drives sustainable business growth?
The words ‘employee handbook’ are enough to make any new hire quiver. That’s because, traditionally, they’re boring textbooks full of lifeless legal language and an endless list of do’s and don’ts. Having to spend a shift—or even worse, your after-hours—reading through an employee handbook will sap the fun out of any new restaurant job. And let’s be honest, when was the last time you read your own restaurant employee handbook?
Photo by VALERIE MACON/AFP via Getty Images. Hospitality lawyer Jasmine Moy visits Eater’s Digest this week The biggest factor determining whether a restaurant or bar business can survive this pandemic — more important than pivots or its customer base or neighborhood — is the relationship between the tenant and the landlord. Or more specifically, the willingness of said landlord to cut said tenant a deal.
Opening a coffee shop can be expensive. Alongside buying stock and hiring staff, you also have to look for available premises, which is a major cost. However, if you’re looking for a way to cut down on your expenses – or even test a new idea or brand – you might consider opening a pop-up coffee shop. To learn more about the process of opening a pop-up coffee shop, I spoke to pop-up owners and operators from around the world.
When you’re trying to market your restaurant and your brand, the first things that likely come to mind are improving SEO , creating unique campaigns to draw attention, and perhaps even holding special events to draw customers into your space. While all of these marketing techniques are useful and can be effective, you may be missing one key element — color.
AI adoption is reshaping sales and marketing. But is it delivering real results? We surveyed 1,000+ GTM professionals to find out. The data is clear: AI users report 47% higher productivity and an average of 12 hours saved per week. But leaders say mainstream AI tools still fall short on accuracy and business impact. Download the full report today to see how AI is being used — and where go-to-market professionals think there are gaps and opportunities.
On March 3, Columbus canceled the Arnold Sports Festival, one of the largest events of the year for the city. That was just the beginning of the coronavirus pandemic, but at Wolf’s Ridge Brewing, it was a clear sign of change and we immediately knew we’d have to adjust our business model. A group of senior staff members met on Thursday, March 12 to discuss how to set up home delivery of beer, and on March 16, one day after Ohio Governor Mike DeWine ordered the closure of restaurants,
Rest assured, at some point restaurants will rise up again, clubs and hotels will measure success based on occupancy and food service activity, and the position of “chef” will be center stage in driving sales and measuring profitability. The opportunities for chefs will be viewed again as instrumental and of significant value to owners, and those who are qualified and prepared will have ample career opportunities in front of them.
The restaurant industry has a reputation for high staff turnover. 2018 saw a record high 74.9% staff turnover —and while a portion of this statistic is inevitable given the demographic of restaurant employees ( more than a third are students or teenagers whose jobs and circumstances change more frequently), this figure represents a problem that needs to be resolved.
On November 2, Dawn Davis will become Bon Appétit’s editor in chief. | WireImage. Davis is currently a vice president at Simon & Schuster, where she founded 37 Ink, an imprint dedicated to publishing marginalized voices After months of internal chaos, shake-ups, and a reckoning over racism and pay inequality at Bon Appétit , parent company Conde Nast has named Dawn Davis as the food publication’s new editor-in-chief.
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
Ask for a long black in a coffee shop and you’ll get something that might look similar to an americano at first glance. Dig a little deeper, however, and you’ll realise there’s a difference. Just like the americano, the long black is an espresso-based drink. The ingredients are the same in both: espresso and hot water. The difference, however, is in the preparation.
?. The COVID-19 pandemic has created an entirely new set of challenges for restaurateurs, their staff, and their customers alike. As on-premise dining resumes in many parts of the country, restaurants must adapt to the fact that safety expectations have shifted dramatically. Studies show that consumers feel more comfortable in lower-contact scenarios with clear health and safety standards , so it’s critical that restaurants accommodate these new preferences to meet the evolving demands of their
In a post COVID-19 world, restaurant design must evolve and adapt to the new normal. With the evolution of the hospitality design, Heating, Ventilation and Air Conditioning (HVAC) systems will need to adapt to the changing architecture. Additionally, restaurants will experience a significant shift in technology and customer service. In this article, we discuss how restaurant design is changing as a result of the COVID-19 pandemic and highlight how we must rethink the consumer-facing footprint to
There are lessons to be learned that are often overlooked. Growth seems to be one of those markers that define a successful business, yet there is ample evidence that growth can be a deterrent to success. How so? What makes a start-up a rising star is more often than not – a few very simple factors: [] It’s all about employees that commit beyond what is required. [] It’s all about formal and informal communication in an open system. [] It’s all about understanding w
Fuel your restaurant’s success with our comprehensive 2025 funding guide! Running a restaurant comes with unique financial challenges, from managing seasonal fluctuations to covering unexpected expenses like equipment repairs or ingredient shortages. This guide dives into fast, flexible financing options for restaurant owners. Discover how to bridge cash flow gaps, fund expansions, or navigate slow seasons without compromising service quality.
Papers. Clutter. Wires. Clipboards. That crumb-covered plate from your lunch that you haven’t had a chance to get rid of yet. This is the restaurant back office in its natural state – but not at all at its finest. Even though the practice of restaurant management continues to move digital, the physical space of your restaurant back office still needs to be organized.
For my immigrant family, outdoor recreation was not part of our usual vacation plans. Could learning to camp be the pandemic escape I needed? Wei Tchou is a Brooklyn-based writer and former non-camper working on a book about her family and the cultural history of ferns. “I know you can do it,” said Salem, smiling at me with encouraging eyes, even though I didn’t know the first thing about building a campfire.
Are You Curious About Wine Packaging Trends? 2020 Wine Packaging Trends. 2020 may shine as the most exciting year of wine packaging trends. Even before quarantine changed our collective lives, the wine industry recognized the need for revolutionary wine packaging concepts to attract the Millennial consumer. The wine industry also learned that Millennials often valued wine packaged in single serving cans with calories, carbohydrates, and other nutritional information on the label. . 2020: Key Pac
When you operate a restaurant, it’s easy to get caught up in the numbers. If sales are high, then your restaurant must be doing well, right? . Sorry to break it to you, but that’s not always the case. It’s tempting to use sales figures as proof that you’re managing your restaurant well. Sales figures can fluctuate based on many things, and they don’t always represent an accurate picture of how you are doing overall.
Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!
With people staying home to avoid the spread of COVID-19, the popularity of virtual events has taken off. Virtual events allow people to feel connected and to enjoy themselves, despite the fact that they can’t do so in a restaurant, bar, or other venues. Although people may be restricted from dining in your physical restaurant space, there are many virtual events your restaurant can take part in order to connect with past and future guests.
Take a breath, hold on and think it through, turn on a dime, change or be changed, now is the time, don’t jump to conclusions, don’t forget what got you to this point, the past is the past – move on, the conflicting words of advice are swirling around us and restaurateurs and chefs are caught in the middle like a ship without a rudder. It’s impossible to ignore the doom and gloom, the restaurant closures, the eroded sales figures, the dwindling pool of qualified workers, and the customers who ar
Even as many restaurants around North America reopen for on-premise dining, many customers will continue to opt for off-premise dining options. It’s seen in the data how quickly restaurants are flocking to takeout and delivery options to rebuild their revenue, with 43% more delivery-related roles being scheduled since the pandemic began. Delivery and takeout will continue to be important revenue streams for restaurants.
A worker in the storage room at a meat-processing factory | Gavriil GrigorovTASS via Getty Images. More than 43,000 meatpacking and food processing workers have tested positive for COVID-19 this year This story was originally published on Civil Eats. “A nightmare.”. That’s how a decade-long employee for Tyson Foods, Inc. in northwest Arkansas describes working for the meat processor during the COVID-19 pandemic.
Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System
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