Is there a wrong way to open a restaurant? Indeed there is, as indicated by the high failure rate of new restaurants. A popular belief is that 90% of restaurants fail within the first year. Whether this is true or not, no one knows. However, a study by Ohio State University indicated that 60% of […]
As Third-Party Delivery Expands among Restaurants, Customer Base Broadens Move over Domino’s, there’s a whole lot of restaurants doing delivery these days. A recent Los Angeles Times article about an NPD Group study reports an explosion of delivery by restaurants through third-party aggregators such as UberEats and GrubHub. In fact, the industry has seen […]
With millennials expected to outnumber baby boomers by 2019, it follows that businesses are desperate to capture and keep the attention of this social media-loving generation. Restaurants are no different. Just Two Weeks Ago, At the Beginning of This Month, Applebee Released an ASMR Video on YouTube Aimed at Millennials ASMR is an Autonomous Sensory […]
5 Key Steps on How to Open a New Restaurant Owning a restaurant can be a good way to make money as an entrepreneur. The constant flow of customers plus the stability the restaurant industry enjoys guarantee continuous flow of revenue throughout the year. Although having a restaurant may look like an easy way to make a […]
Restaurant Consumer Trends At your restaurant, you may have noticed a phenomenon that is definitively occurring nationally: lunch business is sagging a bit more than it used to. According to market research firm NPD, lunch visits were down 4 percent at the end of the year, a notable decline in a broader context that […]
Owning opening a restaurant is a fun and exciting experience. However, there are things that everyone must be aware of going into the business. Here are the five most crucial things every restaurant owner must know before opening. 1. Know Your Concept- To be successful, a restaurant needs a clear concept. Often, people go […]
A restaurant feasibility study is an important step when considering starting a new restaurant. A simple feasibility study could save you time, money, and a huge headache. What is a Feasibility Study? A feasibility study evaluates the variables in a particular project, such as starting a new restaurant. The study takes into account the cost […]
Operations Analysis It takes so much more than a few outstanding recipes or a single acclaimed chef on the payroll to raise your restaurant’s visibility in the ever-growing dining-out market. With the public being educated by cooking shows that feature some of the world’s most beloved chefs, the bar is now raised, the gauntlet […]
Menu Development Have you ever sat down at a restaurant and opened up the menu only to find that your choices seem endless? Having too many options is often overwhelming. Even the most experienced Chef cannot possibly be well versed in all areas. The odds that your kitchen staff can serve world-class Sushi and BBQ up […]
You’ve opened your restaurant, eagerly awaiting the first trickle of customers to start streaming in. They start showing up, singly, in pairs, or in large groups, and they seem happy with the experience. But when they leave, you may never see them again. If you aren’t keeping track of your new customers, you could be […]