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Amid all the unknowns COVID-19 has served up over the past year and a half, a few certainties have emerged. Within the hospitality industry, there is universal agreement that restaurants have been through the ringer. And it doesn’t appear the ups and downs of this pandemic will end anytime soon. With delta variant cases surging and a second pandemic winter looming, restaurants are desperately trying to sustain and fuel their recoveries.
Starting a successful restaurant requires passion, hard work and persistence. It also requires money to open a restaurant and build it out, buy equipment and finance the operation until it reaches break-even. In this article, you'll learn how to get a business loan for your restaurant so you can make your dream of starting or growing your restaurant a reality.
Formerly Professor of Food and Beverage and Service Operations Management at EHL, Ian Scarth has a background in strategic development and leadership within the hotel and hospitality sectors. In this article he gives his views on what it means to be a purpose-driven organisation.
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 a tough year for the foodservice industry. Restaurants have faced labor shortages, supply and equipment shortages, and climbing food prices, with no past playbook on how to navigate the crisis. In other words, best practices are being created in-the-moment and shared with others as collaborative ideas. Even as COVID-19 has gotten under more control, restaurant operators are still struggling with the impact it has had on the industry and on their businesses.
Manage your food costs and watch your restaurant grow and thrive. Food prices are rising across the board, and this affects restaurants just like yours. As a food service entrepreneur, you want to control your costs as much as possible, so you don’t have to drastically increase menu prices and pass them on to your customers. But what can you do? In this article, we look at how food service entrepreneurs are finding creative ways to manage food costs.
Getty Images. Bringing kids to a restaurant became controversial at some point. But with outdoor dining, it doesn’t have to be. The plan for my birthday last year was to have a nice lunch out in Napa Valley with some wine and my husband for the first time in months. The plan was not to bring my children, ages 1 and 3, to enjoy lunch with me. But it was the summer of 2020 and in those demoralizing early pandemic months, we weren’t yet comfortable with a sitter.
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Getty Images. Bringing kids to a restaurant became controversial at some point. But with outdoor dining, it doesn’t have to be. The plan for my birthday last year was to have a nice lunch out in Napa Valley with some wine and my husband for the first time in months. The plan was not to bring my children, ages 1 and 3, to enjoy lunch with me. But it was the summer of 2020 and in those demoralizing early pandemic months, we weren’t yet comfortable with a sitter.
As colder temperatures creep in and consumer disposable income dips , demand for on-premises dining could start to wane. Restaurant operators are now looking for solutions to retain customers as colder weather and economic conditions threaten their bottom line. Today’s restaurant guests are more selective about their dining experiences, and boosting customer loyalty is crucial as restaurants shift into this next phase of service and look toward the holidays.
The shelves at Soft Spirits in LA. | Courtesy Soft Spirits. Across the country, brick and mortar stores are opening to serve the needs of anyone looking for a fancy drink of something low-to-no proof When Mel Babitz went to bars in her early 20s, she’d order one beer at the beginning of the night and hold onto it until she left. Babitz wasn’t much of a drinker — even a small amount of alcohol made her feel sick — but in the early 2010s, there just wasn’t much on tap for her to drink besides selt
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.
Analysis of activity by five major hotel chains indicated Marriott's strategy to target social media users on sites such as Facebook, Instagram, YouTube, Twitter and LinkedIn.
When you open a restaurant, you want your food to speak for itself rather than have to upsell it to your customers. Upselling, however, is not necessarily a bad thing. It has much better potential to drive average order value as opposed to pushy sales pitches to customers. When one upsells, one recommends menu combinations to customers based on their specific tastes.
MRM's Franchise Feed provides the latest news in restaurant and MUFSO franchising. AAG Named Franchisee of the Year. Apple American Group LLC (AAG), a wholly-owned subsidiary of Flynn Restaurant Group LP (FRG), was named the 2021 Abe Gustin Franchisee of the Year by Applebee’s Neighborhood Grill + Bar. Specifically, AAG is being recognized for its overall commitment to brand success, operational excellence, guest service and community involvement.
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.
If the 2000s and 2010s were about creating mega platforms and the centralization of product, pricing and experience, a new era for travel is likely to see the reverse taking place.
Since the pandemic started, the restaurant industry has struggled with labour issues. Many restaurants have shut down, employees have had pay cuts, and many have even shifted to a different field. The quitting trend became so prevalent that it ’ s even been given a name: The Great Resignation. The restaurant sector has traditionally struggled with employee retention.
Photo by Tom Kelley/Getty Images. We’ve come a long way from John Harvey Kellogg’s “protose cutlets” It’s no stretch to say that fake meat is having a moment. With the popularity of brands such as Impossible Foods and Beyond Meat joining fast-food menus and grocery store aisles alike, plant-based meats are no longer seen as a sad option for vegetarians long denied flavor with meat substitutes (though, as we know, plenty of vegetarian food is packed with flavor), but for anyone who enjoys a good
Rows at Scoria Vineyard in Caldwell | Sydney Nederend. From Basque chorizo to huckleberry ice cream, wine trails to mountaintop picnics, here’s everything you need to know about wining and dining in Idaho’s Snake River Valley Since it earned the nickname the Gem State, Idaho has been attracting fortune-seekers who see untapped value in the West. During the first six months of the COVID-19 pandemic, new residents flocked to the state, giving it the biggest pandemic population bump in the nation.
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.
Dina Ávila/Eater. Cookbook author Carolyn Phillips transforms a staid bird with a little help from soy sauce, rice wine, toasted sesame oil, and plenty of garlic This has been my family’s go-to holiday turkey ever since we moved back from Taiwan in the mid-’80s. I took a clue from China’s many “eight treasure duck” recipes and quickly started relying on a Shanghainese-style baste and Cantonese sticky-rice stuffing to transform this staid American bird into something my extended Chinese family (a
Someone waved a pan at that cake | Channel 4. Frantically fanning a cake with a sheet pan to cool it down it is a staple of ‘Bake-Off’ lore. But what happens when you try it at home? In the long and frankly relentless history of humankind as we know it, there are a few things that are certain: we all die, there is no escaping the tax man, and at some point in a season of The Great British Bake-Off , a rushed contestant will wave a baking sheet over a cake in order to get it to cool it faster.
Secchi brings his own spin on traditional fresh pasta dishes to NYC after years training under some of Italy’s best chefs At Michelin-starred Rezdôra , chef Stefano Secchi brings his seven years of training under the best pasta-makers in Emilia-Romagna, including time at Massimo Bottura’s famous three-Michelin-starred restaurant Osteria Francescana, to his NYC restaurant.
Kate Kook and her banchan empire. | Clay Williams. The Kate’s Kitchen owner discusses sourcing challenges, Thanksgiving banchan, and cooking through a pandemic As far as kimchi goes, the stuff that Kate Kook makes is pretty famous. Through her small-batch kimchi business Kimchi Kooks, Kate, along with her son, started selling jars of cabbage and white radish kimchi in Brooklyn stores in 2015.
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.
The Brewben Burger at Great Lakes Brewing Company | Great Lakes Brewing Company/Facebook. From spicy chicken wings to salty pretzels, here’s how to fill up pre-flight Whether you’re waiting to take off or lingering for a layover, Cleveland Hopkins International Airport (CLE) has several solid options for dining within the airport. There’s a restaurant from Food Network stalwart Michael Symon, as well as a brewpub from the city’s most famous brewery, Great Lakes Brewing Company.
Target | Shutterstock. From one die-hard Target fan, a guide to pulling off a single shopping trip for all your food-focused friends When all other stores seem like too much work, when you don’t have the patience to match your loved ones to personality-appropriate brands, or when you plain forgot to do any holiday shopping at all, consider Target. Target, the place, is where you can roam and browse, reveling in the sheer delight of total anonymity and a gajillion celebrity collaboration products
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.
Speaking in the PhocusWire Studio during The Phocuswright Conference, Despegar CEO Damian Scokin explains how the pandemic hasn’t dulled the OTA’s growth ambitions.
Terms of the acquisition have not been disclosed for multi-city flight search tech provider but the management team headed by CEO Andres Collart will still be involved in the business.
Despite the devastating effects of the COVID-19 pandemic on Asia, Singapore-based RedDoorz is emerging from the crisis with its ambitious vision intact.
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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