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Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. Restaurants will increasingly become more reliant on using their transaction data to inform and automate their businesses. For part two, click here.
Profitability remains a challenge for many restaurants, especially with prices for ingredients and labor going up. In fact, only 27% of restaurant owners expect to be more profitable this year. Choosing this option is beneficial if your restaurant is in a competitive market where people use these apps frequently.
In the restaurant industry, managing food costs is not just an operational task—it’s a strategic imperative. Understanding and optimizing restaurant food costs can be the difference between profitability and financial struggle. This means going beyond the surface to scrutinize every aspect of your food expenses.
In the competitive realm of the restaurant industry, understanding and optimizing your financial performance is paramount to success. While tracking total revenue and sales is vital, it’s crucial to dig deeper and delve into your restaurant’s profit margins. Gross Profit Margin: What is it?
In this edition of MRM News Bites, we feature links for PPP Forgiveness, new Yelp features and more products and services for restaurant recovery. Manual Wait Controls : Lets restaurants manually adjust wait time estimates during unexpected circumstances so diners have more accurate wait time expectations.
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