How To Improve Restaurant Revenue While the food service industry overall experienced it’s eighth consecutive year of industry-wide growth, restaurants on an individual scale are competing for the same consumers. This article on Nasdaq states “Instead of generating added sales, each new restaurant is eating up shares from others.” What does this mean for […]
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 […]
2019 Restaurant Outlook The restaurant industry outlook for 2019 is moderate with a steady growth in sales, as has been true for the past decade. According to the U.S. Bureau of Economic Analysis, the U.S.’s gross domestic product increased by 3.4% in the third quarter of 2018. However, consumers still have less money to spend […]
2019 Restaurant Trends Making Services Automatic (Introducing the Bots): Many restaurants are moving into 2019 and are looking to bots to make most kitchen and service workers obsolete. Yes, this means “poof” people have no jobs. Robots around the world are starting to do amazing things such as producing 120 made-to-order pizzas an hour (more […]
6 Top 2019 Restaurant Trends: Every year the trends in the restaurant industry change. Customers expect new and different experiences when they dine out. However, less and less people are dining out these days as food prices rise and paychecks stay relatively unchanged in size for many Americans. The overall trend is that this […]
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 […]
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 […]