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7 key restaurant revenue streams to prioritize in 2024

7 Shifts

Offering additional services, like delivery and takeout, meal kits and subscription boxes, and even catering and hosting special events can unlock new growth opportunities. If you have a big area, you can host weddings, corporate events, birthday parties, and other celebrations, allowing you to maximize the profitability of your space.

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How to Wield Restaurant Food Costs to Your Advantage

MBB Hospitality

Leveraging technology can streamline these processes, reducing waste and ensuring precise portion control. Implement dynamic pricing for peak times or special events, and consider time-bound promotions to drive traffic during slower periods. Revenue Management Strategies Beyond managing costs, focus on maximizing revenue.

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Gross Profit Margin: A Guide for Restaurants

Synergy Suite

Efficient portion control and recipe standardization can reduce waste and control expenses. Nurturing strong supplier relationships to negotiate better pricing on quality ingredients is vital to control costs. Menu price adjustments that align with changing ingredient costs are essential to safeguarding profitability.

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2023 Outlook: Trends and Challenges Restaurants Will See, Part One

Modern Restaurant Management

Collaborations : Collaborations, such as partnering with a well-known designer on staff uniforms or bringing in guest chefs for special events and pop-ups, will continue to capture consumer attention. To differentiate your concept from another, you have to offer both. ” We’ll see an increased focus on music (e.g.,

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EZ PPP Forgiveness App and Yelp’s New COVID Help

Modern Restaurant Management

" Playlists are curated by professionals and designed to generate energy levels to fit the mood, time of day, and special events. According to Technomic, 59 percent of consumers are more comfortable visiting a restaurant that switches from tabletop or self-service condiment dispensing to single serve portion control condiments.