Modern Restaurant Management

NOVEMBER 17, 2020

Online ordering is obviously huge in 2020, and customers are craving comfort food when they’re ordering in, according to Upserve’s new 2020 State of the Restaurant Industry data collected from the company's 10,000+ restaurant customers. State of the Industry. Holiday Plans Impacted by COVID. Panera Bread. Moe’s.

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Marketing Catering Events Presentation 161

Modern Restaurant Management

MAY 1, 2020

Q1 Yelp Economic Average (YEA) , which takes a holistic look at the local economic changes since the start of 2020, focused on the economic impact of COVID-19. Key restaurant findings from the Q1 2020 YEA include: More than 30,000 restaurants have shut down – temporarily or permanently – as of Sunday, April 19. Eating 2020.

Travel and Tourism 191

Travel and Tourism Events Marketing Information 191

7 Shifts

AUGUST 12, 2020

So far, 2020 has thrown marketing plans, advertising budgets, and restaurant growth out of the window. There are only 4 months of 2020 left where you can push your restaurant’s marketing hard and set yourself up for success going into 2021. Whatever plans and forecasts you had for your restaurant are yesterday’s bread now.

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Marketing Blog Budgeting Pricing 167

Hotel Business

NOVEMBER 20, 2024

The full-service segment has seen significant expansion since 2020, marked by the introduction of 30 new brands in the U.S. In Q3 alone, 97 new full-service hotel projects were announced into the pipeline accounting for 13,968 rooms. Limited-service accounts for 81% of U.S. hotel properties and 60% of total room inventory.

Accounting 111

Accounting Scheduling Presentation Marketing 111

Modern Restaurant Management

MAY 6, 2021

If you have any questions on the process, reach out to an experienced accountant to walk you through the process. The RRF will provide tax-free grants for food and beverage venues that lost revenues in 2020. The requirements are a little different for businesses that started in 2020. How will the program work? Business supplies.

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Modern Restaurant Management

FEBRUARY 24, 2020

Sixty percent of restaurants saw their labor costs increase in 2019 and 50 percent of respondents expect their labor costs to rise in 2020 and beyond, according to a survey of more than 1,000 restaurant managers, owners, and executives across North America conducted by 7shifts.

Pricing 197

Pricing Accounting 197

Hospitality Magazine

APRIL 30, 2023

A statement posted to the chef’s Instagram account confirmed the devastating loss and reads: “With completely shattered hearts … we are devastated to share that Jock passed away yesterday. The award-winning restaurant secured three hats in 2019 and 2020 before it closed its doors in the same year.

Accounting 49

Accounting Magazine 49

Modern Restaurant Management

JUNE 26, 2020

Many restaurants are looking at their 2020 budget and wondering – what now? It is time to adjust your 2020 budget, evaluate labor and food costs, update bank reconciliations and take an overall holistic look at your business model and strategy. Restaurants and bars are opening with capacity restrictions and new guidelines.

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Budgeting Accounting Front of House Customer Service 180

EATER

SEPTEMBER 9, 2020

There are no laments here, but rather a thorough catalogue of all the dishes that Fäviken served, ruminations about craft and haute cuisine and sustainability, and a long-awaited account of “Why Fäviken had to close, really.”

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Book Document Blog Budgeting 138

Modern Restaurant Management

APRIL 10, 2024

Restaurant operators have faced stiff headwinds since 2020, with a near-constant swirl of inflation, supply chain and labor challenges. In November 2023, the National Restaurant Association reported that full-service restaurant employment levels were still 4 percent below February 2020 readings.

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POS Systems Back Office Operations Pricing Budgeting 196

Modern Restaurant Management

OCTOBER 22, 2024

percent, about 87,000 positions, above their February 2020 employment peak, according to the National Restaurant Association. Staffing levels have been on the upswing since the dark days of the pandemic, with the number of jobs at bars and restaurants up nearly 0.7 Quit rates have also fallen since then.

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Scheduling Accounting Pricing 132

Modern Restaurant Management

APRIL 8, 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act allows employers to defer their share of 2020 Social Security payroll taxes. Funds can be used to pay fixed debts, payroll, accounts payable, and other bills. Employee Retention Credit. the maximum per-employee credit is $5,000). Payroll Tax Deferment.

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Multi-Unit Operations Accounting Document Information 209

Modern Restaurant Management

NOVEMBER 2, 2021

Working with an accountant familiar with the restaurant industry can be a crucial step in ensuring your restaurant survives COVID and is equipped to withstand any future crisis. Many businesses set up separate bank accounts as a place to deposit funds for unforeseen situations. Financial Improvement. Payroll Protection Program.

Accounting 189

Accounting 189

Modern Restaurant Management

FEBRUARY 11, 2021

In fact, according to data from the Sift global network of more than 34,000 apps and sites, fraud rates among restaurant apps and food delivery services increased 14 percent from Q3 to Q4 2020. million users in 2020, according to Statista. million users in 2019 to 45.6

Accounting 189

Accounting Information Marketing Pricing 189

Modern Restaurant Management

APRIL 27, 2020

Other than for payroll, these obligations must have existed prior to February 15, 2020. Borrowers will have until June 30, 2020 to restore employee headcount and/or wages to avoid the penalty on the forgivable nature of the loan. Should the loan payment be placed in the same bank account our restaurant uses now?

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Document Accounting Article Events 216

Modern Restaurant Management

OCTOBER 26, 2022

This research, from the March edition of the Digital Economy Payments report, “Going Digital to Pay for Travel and Restaurant Dining” also found that credit cards account for the greatest share of food spending with consumers using credit cards to purchase an estimated $29.8 percent in 2020. merchants in 2021, up from 75.9

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POS Systems Accounting Reservations Pricing 179

Modern Restaurant Management

NOVEMBER 24, 2020

That said, restaurants didn’t have COVID-19 written into their budget at the beginning of 2020. It’s a good time to make sure you’re accounting for potential effects of the pandemic as you create next year’s budget. Hire the Right People. Employee-focused culture can be rare within the restaurant industry.

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Budgeting Communication Training & Development Marketing 230

Modern Restaurant Management

NOVEMBER 10, 2020

In April 2020, Congress implemented the PPP program offering businesses forgivable loans to cover costs associated with payroll or certain other operating costs, like mortgage payments or utilities, for a period of 24 weeks (the covered period). Because that is how it was designed. When Is the Right Time to Apply for PPP Loan Forgiveness?

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Document Scheduling Accounting 189

eHotelier

FEBRUARY 8, 2023

the Chinese government announced that it would reopen the country’s borders and allow its citizens to take overseas vacations for the first time since early 2020.

Accounting 130

Accounting Marketing 130

Modern Restaurant Management

DECEMBER 22, 2020

Off-premise dining now accounts for 60 percent of total sales in 2020 compared to 40 percent in 2019. Many of the trends that will take place in 2021 will build upon the lessons learned in 2020. ? The focus on off-premise sales has allowed us to stay ahead of the industry, where we have come in 11.79

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Sanitation Communication Catering Accounting 197

Modern Restaurant Management

MAY 24, 2022

It has been estimated that credit-card giant, Mastercard observed a 40 percent jump in contactless payments, comprising tap-to-pay and mobile pay in the first quarter of 2020 as a large number of shoppers feared germs on cash and credit cards. Surging Deployment in the Restaurant Industry.

Marketing 203

Marketing Sanitation Customer Service Accounting 203

Modern Restaurant Management

JULY 23, 2021

In 2020, Starbucks reported that nearly a quarter of all its orders in the U.S. For example, if a customer provides their phone number at checkout, any time they use that number, their account will automatically be updated to a points-based rewards program. were placed from a phone.

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Download Accounting Information Communication 223

Modern Restaurant Management

MARCH 19, 2021

percent (ccc) probability of default (PD) right off the bat in April of 2020. Moreover, the National Restaurant Association found that: Restaurant industry sales in 2020 were down $240 billion from expected levels. Restaurant industry employees in 2020 were down 3.1 million from expected levels.

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Document Accounting Information 189

Modern Restaurant Management

JANUARY 15, 2021

McDonald’s moved up one spot to second place in the BIS COVID Study, while 2020’s top brand, Starbucks, moved to third. Additional significant fast food industry findings include: The fast-food industry ranks sixth in this study, maintaining its position from the 2020 and 2019 rankings. 2020 Gift Card Sales.

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Accounting Marketing Document Article 169

Modern Restaurant Management

OCTOBER 8, 2020

These two states account for over 98 percent of the lettuce produced in the U.S, ” 2020 Has Been a Challenging Year. 2020 has created a whole new set of challenges. Production lines then turned these greens into fresh cut salads, which captured the market share with a near 80 percent take. Salinas, Calif., agriculture.

Pricing 189

Pricing Accounting Magazine Marketing 189

Modern Restaurant Management

MARCH 15, 2022

While some restaurants welcomed cryptocurrency before 2020, many are now turning toward cryptocurrencies because of their real-time payment feature – which gives restaurants a much-needed boost. Restaurants are beginning to use this tool to account for the many steps that come before serving up a steamy plate of pasta or beefy burger.

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Accounting Presentation Article Marketing 237

Modern Restaurant Management

MARCH 1, 2023

An interesting tidbit about those dark days of 2020-21: restaurants, bars, food trucks and other establishments that were able to remain efficient with their back of house (BOH) services were most likely to survive and even thrive. Beyond the kitchen, make sure your BOH layout accounts for a well-run, efficient office space.

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Back of House Front of House Accounting Budgeting 171

EATER

JUNE 8, 2020

The image, which has since been taken down from Shubuck’s Instagram account (but was up as of this morning) featured the caption “me and my papi” and the hashtag “boricua.”. link] pic.twitter.com/odZnFLz2gd — chez tammie (@tammieetc) June 8, 2020. Joseph Hernandez (@joeybear85) June 8, 2020. Thank you.”. Bc folks need help.

Accounting 145

Accounting Presentation 145

Modern Restaurant Management

MAY 16, 2022

That’s up from $640 billion in 2020. In 2020 the pandemic severely hit restaurants across the U.S. Midway through 2022, COVID-19 is still a problem, albeit nowhere near the size and scope of 2020 and 2021. ” Covid Issues Still on Front Burner. with many having to shut their doors.

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Budgeting Special Events Events Maintenance 208

Modern Restaurant Management

APRIL 13, 2023

Matt Ogle, the AP and Vendor Manager for Montana Brands Management (MTB) , a fast-growing Taco Bell franchisee in Western Montana, is responsible for all accounts payables and vendor management for 12 Taco Bell stores and the management entity. This is how they made the investment to automate their AP system.

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Vendor Management Accounting Demo Document 173

Modern Restaurant Management

AUGUST 12, 2020

The NPD Group reported that digital restaurant orders increased by 63 percent in March 2020 alone. Restauranteurs can use cloud-based accounting platforms for cost control and financial monitoring. In today’s environment, consumers expect restaurants to offer digital ordering and payment platforms for convenience and safety.

Accounting 203

Accounting Information Scheduling Reservations 203

Modern Restaurant Management

MAY 24, 2022

It has been estimated that credit-card giant, Mastercard observed a 40 percent jump in contactless payments, comprising tap-to-pay and mobile pay in the first quarter of 2020 as a large number of shoppers feared germs on cash and credit cards. Surging Deployment in the Restaurant Industry.

Marketing 179

Marketing Sanitation Customer Service Accounting 179

Modern Restaurant Management

MARCH 7, 2022

Since the declines in 2020, we are seeing sales recover from the shutdown caused by the pandemic as consumers demonstrated how they have adapted to the new way of dining (ultimate convenience), like online ordering, curbside pickup or third-party delivery, and returning to in-restaurant dining.

Accounting 220

Accounting Marketing 220

Modern Restaurant Management

MARCH 29, 2022

California consumers account for approximately 13 percent of pork consumption across the country. The first phase of the law went into effect on January 1, 2020 and set requirements for cage sizes for egg-laying hens and veal.

Accounting 164

Accounting 164

EATER

JANUARY 11, 2022

Your favorite food influencer has probably collaborated with the FeedFeed account, been featured on it, or promoted the hashtags in pursuit of a boost in followers and visibility. There’s no singular personality representing the account, no cult of curated personas. Cohen left his position at the FeedFeed in August 2020.

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Accounting Article Events Catering 133

Modern Restaurant Management

AUGUST 4, 2021

Across the country, the most damaging wildfire seasons have been in recent years, including 2017, 2018, and 2020, accounting for 62% of the structures lost over the last 15 years. The three largest wildfires in Colorado history occurred in 2020.

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Information Maintenance Accounting 203

Modern Restaurant Management

JUNE 11, 2021

In 2020, inside sales dropped as the pandemic locked down indoor dining. All of my clients’ in-restaurant sales are increasing, while the carryout/pickup/curbside business is remaining at the 2020 levels. Based on my first-hand knowledge of the industry nationally, here is my advice: Hold on tight!

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Training Scheduling Accounting 203