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" The most common problem new restaurants face is that they open undercapitalized, inKind CEO Johann Moonesinghe pointed out. " The most common problem new restaurants face is that they open undercapitalized, inKind CEO Johann Moonesinghe pointed out. "There are pros and cons to any type of funding a restaurant can take.
Employee scheduling for your restaurant can be the most stressful part of your job. After tracking sales, calculating inventory, and just trying to keep your head above water, restaurant scheduling can take up a chunk out of your week. It seems you're always either understaffed or overstaffed, either FOH or BOH , at the worst times.
Modern Restaurant Management (MRM) magazine asked restaurant industry movers and shakers: "What do you feel is going to cause disruption in the restaurant industry over the next decade?” Elo’s Sonal Apte, vice president of retail and hospitality. Guests will demand a personalized journey when food is delivered to their door.
Poor employeerelations go unnoticed and slip-ups in communications can be handled without disturbing the customer experience. Poor employeerelations go unnoticed and slip-ups in communications can be handled without disturbing the customer experience. Lavu Pro Tip: Avoid using chef jargon with the FOH staff.
Do you have delivery drivers who you could hire, or would your FOH staff take on this role for extra pay? Consider things like merchandise sales, inventory sales, or private cooking lessons. Consider things like merchandise sales, inventory sales, or private cooking lessons. We’ll talk about this more later on.
Because sales and labor needs can change by the hour, day, week, and month, it can be difficult to control your labor budget over time. With the help of actionable data and reporting, store managers can help control labor costs, without negatively impacting the customer experience or employee retention rates. Hourly Employees.
By Indiana Lee, Contributor Though your restaurant should have good food and a unique atmosphere, if your front-of-house (FoH) staff is not functioning and they’re unhappy at work, your patronage could suffer. All it takes is one waiter or bartender to have a bad day and show it in front of the customers to create a bad impression.
Front-of-house (FOH) refers to all activities and settings a patron will experience while dining at a restaurant, including the lobby and dining area. The FOH staff greets and receives customers and relays their requests. The FOH manager supervises all front-of-house staff and reports to the GM.
Your staff is hard-working and diligent—but tensions are high, and sales are lower than expected. Your team of employees can only do so much with what they’re given, so you might consider improving their modes of communication. For fast-casual restaurants, opting for a mobile point-of-sale system makes the most sense.
How to manage labor cost is a challenge that all restaurant operators face daily as many restaurant businesses are forced to offer more competitive wages, benefits to hourly employees and other concessions to attract more employees from the shrinking applicant pool. What is a good labor cost percentage?
Many are pointing out frustrations with cleanliness and wait times, both of which are indicators of teams being stretched thin. These are fast-changing times for all types of restaurants. Brands that stand out are able to use big data to spot trends, measure performance and create strategies that will drive profits.
According to the National Restaurant Association, hourly wages for restaurant employees grew by 12.1% Driven by the hiring crisis, many restaurant groups are trying to woo employees with higher wages and benefits for hourly employees – both mostly unheard of prior to the pandemic. Mix full-time & part-time employees.
Operational expenses – These are costs related to the support and organization of a business on an everyday premise. Know these five restaurant accounting practices to be in control of your business’s profitability and budget. If you have a restaurant POS , you already have a healthy support system that you should be utilizing.
But while off-premise demand has grown, in-person sales are coming back as more regions open up again. For restaurant owners and operators, how do you balance between maintaining off-premise business and rebuilding in-restaurant sales—at the same time? However, in the era of social distancing, these burgeoning trends took off.
Someone who understands specific restaurant accounting features like a chart of accounts, COGS, prime costs, daily sales, and more. . Preparing good meals and serving customers is always an exciting part of running a restaurant. When it comes to numbers, however, most restaurant owners do not know what is expected of them.
Out of the Box: Monthly Restaurant Industry Update August 2024: Is This a Turning Point? Comp Sales -3.6% Comp Sales -3.6% August Restaurant Performance Data: Sales and Traffic Trends Same-store sales growth of -0.4% Same-store sales growth has improved by 2.0 percentage points in August relative to July.
From the introduction of point of sale (POS) systems to accounting systems, technology is changing the ways restaurants operate today. Keeping your procedures and systems up-to-date is a great method to streamline your operations, reduce overhead, and increase your day-to-day sales by getting more people through the door.
Additionally, most kitchens have a rigid hierarchy in the back of the house, with each employee performing a particular duty. The back-of-house (BOH) at a restaurant is the behind-the-scenes area of the restaurant — it works like an engine and keeps the restaurant going. Why is Back of House Important? The aim is to avoid a collision.
Restaurant Financing and Restaurant Loans. Owning a restaurant is both an exciting and challenging experience. Before the challenge of making a profit, you also have to identify sources of financing. Restaurant financing and restaurant loans are crucial to successful running of a restaurant. Types of restaurant financing. Start-Up Business Loans.
How do they relate to each other? Why combining FoH and BoH data makes analytics more powerful Final thoughts. Some POS-side examples include sales, payment, and footfall reports. Looking at a sales report, you might see that your Tuesday sales are lower than average. What is restaurant analytics?
Whether you’re looking to improve customer satisfaction, increase sales, or reduce costs, tracking these metrics will bring clarity to your restaurants’ performance and help you achieve your goals. In practice, however, successfully managing a group of busy restaurants is an awfully tough undertaking. Why Are Metrics Important?
Instead, we embrace the dark side and look at the pain points and pitfalls. Verify that both customers and employees understand your brand concept. Franchising is a time-tested business model that allows restaurant owners to scale their business fast and efficiently. Brace yourself. Here we go. 4 Signs You Are Not Ready To Franchise.
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