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While 2021 was the year of the comeback for restaurants, 2022 is proving to be a very different story. Record-high inflation is hitting consumers from every angle – gas, groceries, rent – and restaurants tend to be the first place they cut spending. Restaurant traffic, while recovering and up nine percent in 2021 compared to 2020, is still 4 percent below pre-pandemic levels, with smaller chains and independent restaurants down by nine percent, according to a study by The NPD Group.
Survey insights that explore how the hospitality industry is currently offering both opportunities and drawbacks in the eyes of today's young hospitality students. If the post-Covid labor shortage is to pick up, all key stakeholders must collaborate closely to refresh areas ranging from curriculums to working hours.
Marketing nowadays takes many forms and happens on various platforms. You could do it the old-fashioned way – TV commercials, billboards ads, etc. Or try a new approach like collaborating with influencers to help you promote your business. Which is best for your business? Let’s look at both types of marketing and examine their strong and weak points.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Smart Ways to Integrate the Delivery App Experience into Your Food Service Model. When a food historian someday drafts a history of how the restaurant industry survived the pandemic, food delivery apps will arise as one of the heroes of that story. After all, delivery apps and take-away service were the true lifelines of lockdown. They accounted for more than 80 percent of all restaurant transactions during those days.
Taiwanese fried chicken, also known as yan su ji. | Wonho Frank Lee/Eater. An after-school snack that tastes like teenage freedom This post originally appeared on July 2, 2022, in Stephanie Wu’s newsletter, “From the Editor,” a roundup of the most vital news and stories in the food world. Read the archives and subscribe now. The place where I fell in love with fried chicken doesn’t exist anymore.
Deciding how to structure a business can be overwhelming and confusing. Getting an attorney involved is the best way to help sort through the pros and cons of each structure, as there is no one way that works best. The business structure choose will affect the following aspects of a restaurant: The amount of taxes you will pay. The extent to which you and your partners/investors are held personally responsible for debt incurred by your restaurant (liability).
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Deciding how to structure a business can be overwhelming and confusing. Getting an attorney involved is the best way to help sort through the pros and cons of each structure, as there is no one way that works best. The business structure choose will affect the following aspects of a restaurant: The amount of taxes you will pay. The extent to which you and your partners/investors are held personally responsible for debt incurred by your restaurant (liability).
It has been an incredible couple of years. COVID shut down the hospitality industry from March of 2020 to mid-2021. Gradually, states let operations resume, but no matter where you are, we are all now in the same boat: no staff! In my last article I discussed how robots will transform our industry in a big way, but that is a few years off. We must develop some strategies to deal with today’s reality of lack of staff.
Celeste Noche/Eater. As sturdy as it is summery, this cake is a welcome addition to any gathering From personal experience, I’ve found that making a beautiful dessert is only half the battle in a place like New York. The real test is getting it across the city to its desired destination in one piece, and doing everything possible to avoid the worst possible scenario: dropping it on the ground.
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
Dr Stefan Güldenberg, Academic Director of the recently-launched MiHM program , shines the spotlight on the distinguishing features of this new EHL master's degree and how it's the product of external industry changes and EHL's knowledge generation mindset. With a special focus on sustainability and innovation, the Master in Hospitality Management aims to promote agile, purpose-driven leaders to manage the complexities of the changing hospitality business landscape.
The open kitchen concept has become one of the biggest trends in the restaurant industry. When people walk into a restaurant, food transparency is what matters the most. An open kitchen makes the understanding of the whole food production process really simple. However, it is still a matter of discussion whether an open kitchen is good from an operational standpoint or not.
Joules Garcia /Eater. Diners need to understand that things will never be as they were before the pandemic In the final six weeks of our pandemic-born restaurant, customers formed a line out the door and booked out dinner reservations weeks ahead. Regulars brought flowers and letters asking if we would reconsider closing. In truth, my husband and I struggled around the decision for months.
Driven by a diverse and exciting ecosystem of passionate, ambitious, and often young entrepreneurs, the Food & Beverage (F&B) sector is a highly competitive environment full of immense challenges and exciting opportunities. Expert Market’s 2024 industry report, sponsored by Toast, is informed by a survey of 522 U.S. food and beverage professionals, from restaurant owners to food service managers, providing insights into the real-time challenges and opportunities within the industry.
In 2022, there are many challenges faced by the hotel industry, which may quickly feel overwhelming to address. However, as a hotel management company , we have seen that with the right approach, tech stack, and process streamlining, hotels can drive their success in 2022 and beyond. Article summary: Experience & Personalization. Hiring the Right Employees.
Omland Hospitality Products is a Canadian wholesale hotel supplier for businesses across the country, providing items from Mattresses and bath amenities, to housekeeping and kitchen supplies. As the industry recovers from the impact of COVID-19, there is an expected 15.1% growth in the hospitality market in 2022 alone. That being said, this is the optimal time for you to bolster your professional vision and enhance your guests’ stay.
Managing HR tasks like payroll, compliance, and employee data can overwhelm small businesses. That’s where a Human Capital Management (HCM) solution comes in. Our eBook, Why Every Small Business Needs an HCM Solution: A Comprehensive Guide , shows how an HCM system automates tedious processes, ensuring your business stays compliant and efficient. You’ll learn how to simplify payroll, eliminate costly errors, and empower your employees with self-service tools.
Vanshika Wadhwa is a young restaurant entrepreneur and a force behind the upcoming brand – Fio Pop. A design enthusiast by heart, Vanshika has jumped into the family business to take the legacy forward. . In Conversation with Vanshika Wadhwa, Co-founder, and Partner at Fio Restaurants. In this exclusive interview with The Restaurant Times, Vanshika Wadhwa, Co-founder, and Partner, of Fio Restaurants, takes us through her journey as a restaurant entrepreneur, business challenges, and her ta
Casa Salvador. From Madrileño stew at a 183-year-old restaurant featured in a C. Tangana music video to foraged cocktails at mad scientist’s sustainable booze lab, here’s where to eat in Madrid A cultural hub with world-class museums, historic architecture, and gorgeous churches, Madrid simply has it all, including some of the most exciting and varied food in the country.
Heinz and Wingstop are the latest brands to offer spicy honey, making the once elite condiment fully mainstream There was a time, not so long ago, when hot honey was everywhere. It adorned every cool pizza and hipster sandwich, the novelty of spicy and sweet at once delicious and not actually that original. But according to some national brands, you’d be mistaken in thinking hot honey has had its heyday.
Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.
Eighteen former workers at the Stone Barns Center for Food & Agriculture allege dysfunction in the livestock program at America’s most famous regenerative farm “This isn’t a joke,” police told the Daily Voice , a hyperlocal news site in Westchester County, New York, on August 30, 2018. “We really are helping the restaurant and farm staff try to capture the cow.
Biscuits are the perfect middle ground between “snack” and “meal.” | Popeyes. Showing up to a party with a 24-pack of Popeyes biscuits is an unimpeachable move This post originally appeared in an edition of The Move , a place for Eater’s editors to reveal their recommendations and pro dining tips — sometimes thoughtful, sometimes weird, but always someone’s go-to move.
Kassie Mendieta/I Bake Mistakes. Whimsical yet organic, these rounded confections are a treat to behold A cake from the Chicago-based baker Dream Cake Test Kitchen looks like something out of a Dr. Seuss landscape: Flowers poke out like Truffula trees, and halved fruit protrudes like glowing orbs. “I like to create environments that you think you saw, but you’re not sure where,” says Hyun Jung Jun, an artist who has made cakes under the Dream Cake name since 2020.
Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.
Dan Geneen travels to Copper River in Alaska where the most valuable salmon are caught On this episode of Dan Does , host Daniel Geneen goes to Alaska to visit Kyle Lee, the founder of Alaskan Salmon Co., and join him fishing for the day in the Copper River, home to the fattiest and most expensive salmon in the world. Salmon will swim up to 300 miles to find a birth home before they spawn, and they prepare for the journey by storing up fat.
Brooklyn institution Gage & Tollner will host one of Eater’s dinners at this year’s Festival. | Alex Staniloff/Eater NY. This October, join Eater for two one-night-only events featuring Chintan Pandya, David Shim, the team from Ha’s ??c Bi?t, and Gage & Tollner Eater is thrilled to be partnering with the Food Network New York City Wine & Food Festival this year for a duo of one-night-only meals.
Dive into the transformative potential of business automation within the hospitality sector. This comprehensive overview showcases how innovative technologies can streamline operations, reduce costs, and elevate guest satisfaction. Discover the advantages of integrating systems like automated check-ins, CRM, and energy management to not only save on expenses but also to provide a seamless and personalized guest experience.
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