In the competitive restaurant industry, smart operators are adopting prix fixe menus to increase diner traffic and profitability. A prix fixe menu, derived from the French term “fixed price,” offers a complete meal at a predetermined cost. It usually includes an appetizer, main course, and dessert. Restaurants might opt for a prix fixe menu exclusively, …
How to Create a Prix Fixe Menu for Your Restaurant? Read More »
The trend of pet ownership has surged, leading to a growing need for pet-friendly restaurants. To run such a venue, meticulous planning, preparation, and attention to detail are essential. This guide provides a comprehensive blueprint for creating and managing a successful pet-friendly restaurant business. There’s a rising demand for pet-friendly restaurants among pet owners. Establishing …
Starting a restaurant demands a substantial upfront investment for expenses like equipment, leasehold improvements, inventory, marketing, and working capital. A restaurant loan can offer the capital needed to launch and expand a business. These loans cater to the distinct financial needs of restaurant owners. They fund various activities, including opening new locations, remodeling, upgrading equipment, …
The catering industry in the United States is set to reach $109 billion by 2030, offering a lucrative avenue for restaurants to expand their earnings. Yet, securing more catering orders poses a significant challenge for restaurants due to intense competition. This piece will unveil expert advice to enhance catering orders and elevate profits for restaurants and catering …
How to Get More Catering Orders for Your Restaurant? Read More »
The term “farm-to-table” has become synonymous with dining establishments that champion locally sourced, fresh ingredients. At the core of this movement lies a direct link between the restaurant and the local farms that supply its ingredients. This direct relationship ensures diners enjoy the freshest, most flavorful, and nutrient-dense offerings. It also supports the local agricultural …
Menu pricing is a crucial step in setting the right sales price for your restaurant’s offerings. It requires the use of key performance indicators (KPIs) like revenue goals, costs, and other data. These metrics are essential for optimizing pricing and enhancing profitability. Despite this, many restaurants rely on intuition or simply mimic their competitors, missing …
Restaurant Menu Pricing Strategies to Drive More Sales Read More »
The haute end of the restaurant industry is now a hub of multi-sensory intrigue. Establishments across the United States are experimenting with cocoon-like dining spaces and mood-altering lights. They’re also pairing fragrances with food to create unforgettable experiences. This trend towards multi-sensory dining aims to stimulate not just taste buds but all senses. It’s about …
The Art of Multi-Sensory Dining: Transform Your Restaurant Read More »
No-shows inflict significant financial and emotional strain on restaurants. It’s challenging not to feel a personal sting when diners cancel at the last minute, leading to substantial revenue loss. In Australia, restaurants face an estimated $75 million annual loss due to no-shows. A mere 10% no-show rate can result in over $1,000 weekly revenue loss …
In the competitive restaurant industry, conducting thorough market research is vital for long-term success. The National Restaurant Association reports that 60% of restaurants fail in the first year, and 80% don’t reach their fifth anniversary. This failure often stems from a lack of proper market research. It prevents owners from pinpointing their target audience, grasping …
Restaurant Market Research: Understanding Your Market Size Read More »
Monitoring the right key performance indicators (KPIs) for restaurant owners and managers is crucial. It enables them to make informed decisions that enhance operations and boost profits. By focusing on metrics such as revenue, profitability, operational efficiency, customer satisfaction, and labor productivity, they can pinpoint areas for improvement. This approach helps identify profit drivers, expense …
Important Restaurant Metrics to Monitor for Peak Performance Read More »