First, congratulations on wanting to start your own restaurant. This is no small undertaking. It starts with a vision, and entrepreneurs are visionaries. So, where do you start? You have an idea, but then what? You’ll need a location, a restaurant brand, a menu, staff, kitchen equipment, marketing and advertising, and so on. But […]
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 […]
What Millennials Look For In A Restaurant According to studies, Millennials are more reliant on food service than any other generation. This is what makes understanding millennial dinning habits critical for any restaurant’s success. Interestingly, it’s not just food & taste that are most important to them. It has more to do with customized menu designs, […]
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 […]
2018 Restaurant Trends (Part 2) The restaurant industry is constantly evolving and changing, from marketing to delivery, to service – each segment of the industry has experienced a massive shift. This will continue throughout 2018 and for restaurants to succeed, it is important to keep an eye on what trends are emerging in 2018. Here is part 2 of […]