Launching a business in a highly competitive industry like food and beverage (F&B) requires a deep and extensive understanding of the factors that fuel success. Knowledge of kitchen operations and finance is valuable but often insufficient for meeting business goals. This is why many successful restaurateurs hire business consulting firms to help them get started […]
Managing a restaurant involves so many moving parts, including sourcing high-quality ingredients, purchasing a seemingly endless list of supplies, managing staffing and scheduling, and budgeting for a profitable restaurant – all within a set budget. Every restaurant must aim to spend low and earn high. But restaurant finances are notoriously complex, with so many types […]
Six in 10 restaurants don’t survive past their first year of operation, and around 80% of restaurants close within five years. These grim statistics show how difficult it is to survive—let alone thrive—in the food industry. If you’re considering entering this competitive field, learning how to open a restaurant is crucial for increasing your chances […]
Anyone can open a business anywhere, but success is not guaranteed. Restaurants fail for a variety of reasons, one of which is poor location selection. The problem may be traced to limited foot traffic or a restaurant concept that doesn’t suit the area’s demographics. Finding the right location for your new restaurant can be challenging. But […]
Creating a restaurant operations manuals is a critical step to opening a food business. When you institutionalize standards, it is easier to maintain consistency in output and service. What Is a Restaurant Manual? A restaurant operations manual is the written foundation of the business. It lays out the vision of the restaurant and outlines all […]
Successful restaurants do more than just sell food. They sell an experience, and this is closely tied to the restaurant concept. A restaurant concept is the overarching theme of the restaurant that covers its ambiance and decor, location, menu, service style, vibe, and culture. It may not come to you clearly at first, as a […]
Restaurant Industry Trends and Outlook for 2022 In the first part of “Restaurant Industry Trends and Outlook for 2022,” we covered some key trends and insights for the restaurant industry to look forward to in 2022. Since then, we stumbled upon a few more important F&B trends that restaurant owners and restaurant-goers can expect to […]
Restaurant Industry Trends and Outlook for 2022 Change is an inevitable part of life, more so if you’re in the F&B industry. That said, restaurants mainly had to stay abreast of changing food and beverage trends. Until last year that is. The pandemic not only ravaged the fortunes of restaurants worldwide, but it also forced […]
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 […]
According to Forbes, more than 40% of restaurants struggled to survive during the COVID-19 pandemic crisis. What’s interesting is that G2 research highlights that almost 50 million people in the U.S. will use food apps by the end of 2021. Digital and Tech Transformation It is no secret that it takes a lot of manpower and resources to maintain […]