Lackluster Performance? Save Your Restaurant With These Restaurant Turnaround Strategies Let’s not beat around the bush—running a restaurant is very hard. It’s why only a few businesses last long enough to become local institutions or large, multi-location chains. It’s estimated that 80% of restaurants close within their first five years of operations. And even a […]
The Impact of a Restaurant Consultant on Your Business Success Managing a restaurant isn’t as glamorous or easy as it may seem. From managing inventory and bookkeeping to planning menus and hiring the right personnel, you wear many hats. The hours are long, the profit margins are thin, and the overheads are high, but bringing […]
Maximizing Your Restaurant’s Potential: A Comprehensive Guide by TRG Restaurant Consulting Managing a restaurant is hard work. In the bustling and dynamic food service industry, you always try to provide a pleasant guest experience while ensuring a positive cash flow after all expenses have been accounted for. A Restaurant Consulting Firm like TRG can make things […]
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 […]