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Since 2008, profit margins in restaurants have grown consistently, but this increase is never guaranteed. With food and labor costs on the rise, how can you prevent your margins from eroding without losing your customer base?
Recent Changes in the Fast Food Industry: What Should We Learn?
Fast food giants have unveiled some dramatic changes recently, changes that not only reflect trends we’ve been seeing within the restaurant industry, they offer some important lessons for restaurant owners.
Why Your Small Business Needs a Solid Business Plan. Now.
Whether your business is starting up, considering expansion, or planning for the future, a solid business plan is an essential aspect of your operations. It’s so important that, without one, you could be missing out on funding opportunities and profits.
Could Your Small Business Survive Without Smartphones?
Have you ever checked your smartphone while with a customer or negotiating with suppliers? If you think your small business couldn’t survive without smartphones, tablets, or mobile apps, it may be time for a reality check
A Single Digit Percentage Can Double Your Restaurant Profits
A Restaurant Report article demonstrates how a restaurant can double its profit margin when it cuts expenses by a single digit percentage point. The authors assert that the “restaurant industry is a penny business—some would even say a half-penny business,” and as a result, cost-cutting strategies can be tricky. Restaurant owners are rightfully reluctant to sacrifice quality menu items and … Read More
Small Businesses | Keeping Hiring Practices Legal
As your small business gains traction in this economy, you may find that it’s time to add employees. We wrote in February about ways you can find and attract the right employees for your business, which is a critical first step toward expanding your headcount. But whether your small business is growing from one or two employees, or from 50 … Read More
Small Businesses | How To Find and Attract the Right Employees.
Earlier this month, we wrote about how the U.S. economy has begun adding jobs within the small business sector. We advised that a review of the business’s cash flow strategy and financial plan were necessary first steps before adding employees. Let’s assume the financials are in order, and your business is ready to take the next step; it’s time to … Read More
Trends That May Affect Your Restaurant in 2014
2014 has kicked off with some “game-changer” trends that could shoot your restaurant ahead of the competition. Find out more about these trends and how you can put them in place at your establishments.
Sustainability Doesn’t Always Mean Energy-Efficiency: Reducing Food Waste Has Economic Benefits for Restaurant Owners
In the restaurant business, food is money. Reducing the amount of wasted food in your restaurant reduces the amount of wasted money in your business’s cost structure. But there are other ways that reduced food waste contributes to reduced operating costs.
How Does the Wage Debate Affect Your Restaurant or Small Business?
Worried about a potential increase in the federal minimum wage? So are many other small business and restaurant owners. How might you balance the need to satisfy customers with a potential labor cost increase? Read more.