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With the lowest unemployment rate we've seen in two decades, employers are definitely feeling the fact that we are experiencing a job seekers market. The problem is, as the holiday season approaches, we find ourselves in desperate need of seasonal workers. In a job seekers market, if we don’t alter our approach to sourcing, recruiting, and hiring, we'll be left with open jobs and few applicants to fill them.
Nearly 200,000 quick-serve restaurant establishments in the United States are not owned by the company whose name is on the building. Instead, these locations are franchised, meaning a company (the franchisor) allows an individual or group of partners (the franchisee or franchisees) to run a location of that restaurant under a certain operating agreement.
Now that you’ve decided to open up your restaurant, you’ll have to determine pricing for all the delicious items you’ll sell to patrons. The right menu pricing strategy is essential for attracting customers and establishing a reliable client base. It may be helpful to have a restaurant consulting specialist and bar consultant on your side when you’re setting prices for your foods and beverages since your prices have a direct effect on your profits.
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.
The restaurant and hospitality sector is one of the largest industries in the world. As a restaurant owner, it’s important to know how to market your restaurant the right way if you’re going to survive in such a crowded and competitive marketplace. In this article we’re going to look at five marketing mistakes that many restaurant owners make and show you how to avoid falling into the same traps yourself. 1.
Growing your restaurant business means being ready for a shifting market. Demand for restaurant services is often dictated by the economic health of a region. When households have extra income, they will eat out more often and the National Restaurant Association found that 2019 should see continued sales growth. However, restaurant owners can expect significant staffing challenges and they will also likely need to update their technology strategies to meet consumer demand.
Restaurateurs, if you are reading this article, it means that you are either sold to the idea of social media marketing or are already incorporating social media in your marketing strategy. But to assess the performance of your social media accounts in terms of lead generation, traffic to your website and brand exposure, are you measuring the right social media metrics?
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Hospitality Management Today brings together the best content for hospitality management professionals from the widest variety of industry thought leaders.
Restaurateurs, if you are reading this article, it means that you are either sold to the idea of social media marketing or are already incorporating social media in your marketing strategy. But to assess the performance of your social media accounts in terms of lead generation, traffic to your website and brand exposure, are you measuring the right social media metrics?
History was my favorite subject in school and is still one of my favorite subjects to read. History books often reference a military battle tactic known as scorched earth, when one side would burn down all infrastructure and resources as they retreated in order to prevent the advancing side from using them. In present day, the meaning has expanded to describe destroying economies and societies, and in fact, we’re witnessing it right now.
Dining out and purchasing food is about an experience. From the menu choices, to furnishings, to the appearance of wait staff, to how the food is presented, how food is packaged and assembled on shelves, are all designed to lead to a pleasant sensory experience and the desire to come back. The strongest of our five senses is our sense of smell. Smell plays an important role in the dining and food purchasing experience, as we know.
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