Restaurant Concept Planning A study[1] conducted by Ohio State University suggests that 60% of restaurants do not survive past their first year, and 80% are said to fail within five years. What complicates being a new entrant in the restaurant business is that at least 13%[2] of consumers don’t shift their loyalty from their preferred restaurants. Though […]
The COVID-19 pandemic has shown us that the food industry is not recession-proof. Here is a guide on how to succeed in the post-pandemic world. The pandemic caused by the COVID-19 virus has transformed our society and had effects in several industries, mainly in the food industry. With vaccine production and mass vaccination, we are […]
2021 Restaurant Industry Trends While the hurdles of 2020 may not end when the clock strikes midnight on December 31st, the restaurant landscape is better equipped to deal with whatever comes its way. The industry and its many players have experimented, failed, succeeded, but most importantly, gained a tremendous amount of knowledge this year. Significant […]
Restaurant-to-Consumer Social Media Engagement If “a picture is worth a thousand words,” social media is to be thanked for taking Norwegian playwright Henrick Ibsen’s adage and using technology to digitally canvas the ether with multiple complex ideas, then framing them in a single image. Restaurants use social media to draw in diners. Patrons and tourists […]
Changes and Opportunities in 2020 and Beyond Needless to say, this has been a year like no other with unprecedented challenges. These will likely continue well into the foreseeable future. These challenges have been especially taxing on the restaurant industry and its more than 13.5 million employees (as of 2019), both of which have been especially hard […]
Maintaining a competitive edge in the foodservice landscape is no easy task. As any restaurant operator can confirm, succeeding in the modern marketplace requires constant innovation and the ability to capitalize on the latest trends. This is especially true amid the pandemic. Here are a few restaurant growth strategies to keep business moving forward through the […]
Restaurant Trends 2020 In the last couple of years, the American restaurant scene has had an influx of technological shake ups. The way most consumers have ordered their food has virtually been flipped upside down. 2020 will continue to see evolving trends of simplistic mobile means. These trends will make it easier to receive food […]
Food Trends Going out to eat is more popular than ever. In recent years, restaurant spending has outpaced grocery spending for the first time in history. Restaurants that do well to attract customers usually emphasize the economical and convenient aspects of their foods and food services. Some of the highest grossing restaurants include McDonald’s, Subway, […]
Why You Should Conduct a Feasibility Study Before Starting a New Restaurant Your dream is to own a wonderful little restaurant and serve exotic foods or home-style foods or other specialized cuisines. You know deep down in your heart that it will succeed because there is nothing else like it. But are you willing […]
Sustainable Restaurants According to a recent study by the National Restaurant Association (NRA), an increasing number of restaurants are employing methods designed to make sustainability an integral part of their businesses processes. The survey, which explored the sustainability practices of 500 restaurant owners and managers, found also that transparency in menus is becoming more […]