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As the world watches and responds to the spread of COVID-19, leaders across the globe are being asked to step up and into their power. Some have done this well, while others have a few more miles to cross. For industry leaders, this is the time to ask and determine how to become the best leader for your company. For myself, as a lifelong and collegiate-level athlete, I am reminded of the lessons in leadership taught to me by coaches, my family, and professional mentors.
So, you want to open a restaurant. You’ve probably thought about the challenges and risks that come with this venture, but do you know all of the costs that you’ll incur? Keeping a restaurant running is one thing, but investing in a new restaurant is a whole other undertaking. You won’t have cash coming in until you open your doors, so you’ll have to depend on your life savings, investments, and loans to get you through your first few weeks or months of business.
If you are planning to serve on your condo association board, you probably know that you will need to comply with Florida’s certification requirements within 90 days of being elected. Resort Management hosts Board Certification classes annually for its clients to obtain the required certificates required by the State of Florida. Our Condominium Association Board Member course is tailored specifically to certify condo board members.
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.
It’s been nearly five years since the coalition comprised of Europay, MasterCard and VISA (EMVCo) shifted the liability for payment fraud from the banks to the merchant. In that time, chip cards have become ubiquitous. Payments made using a swipe have officially jumped the shark , and the face of fraud has become friendly. “Friendly fraud” as it’s called, occurs when a cardholder disputes legitimate charges with their credit card provider, forcing a refund under the false
A message from Ted Ent, President and CEO, Innisfree Hotels. Dear guests, We are closely monitoring the situation regarding the coronavirus (COVID-19). As travelers, we understand that you may have uncertainty about your upcoming trips and vacations. As the situation around the COVID-19 continues to evolve, our teams are working diligently to ensure the safety of our guests and employees.
Japanese Cuisine Growing in Popularity In 2013, Japanese food was registered on the UNESCO Intangible Cultural Heritage List following French cuisine. As of 2019, the number of overseas Japanese restaurants has exceeded 110,000 and continues to increase rapidly. Japan’s traditional food culture has gained international acclaim and has spurred much more demand.
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Japanese Cuisine Growing in Popularity In 2013, Japanese food was registered on the UNESCO Intangible Cultural Heritage List following French cuisine. As of 2019, the number of overseas Japanese restaurants has exceeded 110,000 and continues to increase rapidly. Japan’s traditional food culture has gained international acclaim and has spurred much more demand.
Known for its extreme uniqueness and rare existence, White Truffles are mushrooms found in the most isolated parts of the world. The distinctive features of these one-of-a-kind mushrooms form the basis of the fascinating story of White Truffle Hospitality (WTH). Saurabh Gurjar, the Director and a chef himself, aligned the vision of spreading his expertise with his extreme sense of uniqueness under the name of his firm, WTH. “A lot of them belonged to the field,” he said, but rarely c
In response to Coronavirus concerns: Danny Meyer tweeted that The Modern would be closed for a day and every inch sanitized after a guest tested positive for COVID-19, despite being told by the NYS Health Commissioner says no risk of transmission; “Team & guests come first,” the hospitality leader concluded. Darden will offer paid sick leave to all hourly workers, according to a Bloomberg report.
Every hotelier inevitably runs into a period where bookings are lower than they would like for them to be. One popular strategy to help out during these need periods is paid media campaigns. Also known as paid ads or pay per click (PPC) ads, these campaigns allow hotels to put themselves in front of potential guests during the early stages of their decision-making process.
What are some ways restaurant owners and operators can be safe and welcome guests while maintaining social distance? As the Coronavirus crisis continues, Modern Restaurant Management (MRM) magazine asked industry insiders what best practices restaurants should have in place for social distancing, as per CDC guidelines. Rakuten Ready surveyed more than 100 customers to measure how behaviors around dining have, or are anticipated to change around the perceptions and impact of COVID-19 on restauran
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.
In the Internet economy, online consumer reviews are a powerful tool used in helping businesses drive growth and integrate crucial feedback to create a better customer experience. For consumers, online reviews provide a source of expert opinion from peers that have had previous experiences with a product or service. Though as powerful as reviews can be, today’s digital world also opens the door for some companies to try and game the system.
Do you have trouble hiring or retaining a good team? The hospitality business is particularly hit hard by the war for talent and the turnover is pretty high and difficult to manage. Imagine what a comprehensive perks-and-benefits program could do to help you retain your best employees, yes, even part-time ones. Do you think it is not in your budget?
In the restaurant industry, trends come and go. It is important for small businesses to keep up with trends, but also to decide whether it is a valuable addition or an expensive mistake. It’s obvious the demand for plant-based food is a growing trend. Grubhub released its annual “ Year In Food ” report, highlighting the top trends of 2019 and found that vegan and vegetarian orders rose by 27 percent in popularity overall in 2019 as compared to 2018.
Catering is a demanding sector when it comes to employment, and staff are often under a lot of pressure to ensure that each customer has the best possible experience at a venue. There’s currently lots of technology and equipment in the catering industry that makes our jobs that little bit easier, with kitchen lifts and tablets to take orders, however it’s still a high-pressure working environment.
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.
This edition of MRM News Bites features a double dose from US Foods, SpotOn Transact, DoorDash Kitchens, Virtual Restaurant Consulting, Tripleseat and Gather, wagamama, Toast, The Gluten Intolerance Group, Instawork and StaffMate Online, Procurant and Yellofin, Sift, 7shifts, ParTech, Revel Systems and Como, Kabbage, Bluecrew and Cuboh. US Foods to Acquire Smart Foodservice.
Through my 26 years working in franchise development, I have seen first-hand the intrinsic value of the franchise business model. It’s a model that helps both franchisors and franchisees expand their businesses and gives both parties the opportunity to benefit from shared learnings, systems and best practices. Refranchising is another opportunity that exemplifies how the model can benefit both parties.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. Send news to Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. BWW Franchisee Acquisition Completed. CV Partners, LLC, completed the previously announced acquisition of Diversified Restaurant Holdings, Inc. (“DRH”), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 64 sports bars across five
Black Box Intelligence issued a report on Coronavirus and the Restaurant Industry. Among the key insights: In the market in which the first major outbreak occurred (Seattle), restaurant sales dropped by 10% during the initial week. However, this only includes a day or two of heightened public awareness. Real impact is expected to be over 20% in lost restaurant sales after one full week.*.
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.
Coronavirus is having a strong negative impact on sales for even the strongest UK hospitality business, according to analysis of 136 typically high-performing food and beverage businesses from Tenzo, a restaurant business intelligence and forecasting platform. Cafes are being far more affected than restaurants, with a 16 percent year-on-year decrease in sales in the first week of March, compared to a 6.39 percent reduction for restaurants.
Modern Restaurant Management (MRM) magazine's People & Places column features news of company hires and promotions, charitable efforts and product introductions. Send news to Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. Chicago-born, minority-owned, female-led Azteca Foods celebrates its 50th anniversary this year, signifying a milestone of achievement for the family business, which has flourished from humble beginnings into a multi-million dollar operation.
Saurabh Gurjar began his professional stint as a chef and after almost ten years of working, he received an offer to help as a councillor. The client was quite impressed with Saurabh, work. Gradually, he began acquiring more projects as a freelancer based on word-of-mouth referrals. That, when he thought to set up his own venture. He zeroed in upon establishing Food Consulting Services (FCS) to offer food consulting. menu planning. and food styling.
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