Business

  • Top 5 books for restaurant owners

    November 24, 2022
    By Megan Prevost Many professional fields provide opportunities to grow through the pursuit of outside research and books. Taking a little time to read up on your work can pay back huge dividends in performance, but often this doesn’t ring true for fields where experience is king. Experience is the best teacher in many arenas, and this ...
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  • Finding a way to raise your restaurant’s profit margin

    November 15, 2022
    As inflation continues, it may be tempting to raise menu prices to offset costs and maximize your margins, but there’s another way. Rather than increasing what you charge, get creative with cutting costs to raise your profit margin.   Improving your profit margin means you need to know your current numbers. While your gross profit margin ...
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  • How strategic labelling can increase your plant-based sales

    October 26, 2022
    By Makayla Dewit Imagine that you sit down at a restaurant, examine the menu, and see these two choices listed: low-fat vegan pasta and lemon-pesto rotini with fried capers. Which sounds more appetizing to you? It is almost certainly the second one. This example highlights the importance of thoughtfully labelling food and menu items to make them ...
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  • How restaurants are adjusting their menus to stay viable

    October 3, 2022
    Confronted with labour shortages, inflation, supply-chain stretches, and other operational challenges, restaurants are having to find a variety of ways to adjust their business model to stay attractive to consumers and stay viable within a competitive industry. Many of those changes have come on menus. Toast’s first Voice of the Restaurant Industry survey found that one-third ...
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  • Voice technology: a long-term staffing solution?

    October 3, 2022
    Ask many experts and they will say that foodservice — despite the pain of the pandemic, inflation, staffing crises, and other problems — is in the middle of a great leap forward in technological advancement right now. Automation in the kitchen, the dining room, and beyond is propelling an evolution of the way restaurants do ...
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  • What are customer profiles — and why should you build them?

    September 29, 2022
    By Mark Plumlee Knowing your customers is perhaps the most important part of running a successful small business. Knowing your target audience should inform every decision you make – your overall atmosphere, your menu, your marketing strategies, and beyond. Familiarity with your diners allows your business to provide them with the exact drinking or dining experience they ...
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  • Your menu pricing strategy can help your restaurant get ahead

    September 22, 2022
    As inflation continues to rise and labour shortages persist, it may be time to look at your menu pricing strategy as a way to cut costs and raise profits. As a restaurateur, you know it’s a balancing act to keep customers happy and stay in the green. Understanding how to create a menu pricing strategy can ...
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  • The critical importance of loyalty members

    September 20, 2022
    In today’s crowded foodservice climate, offering a robust loyalty program is a must. Loyalty members visit more, spend more, and provide your business with vital insights into customer behaviour. Those were some of the key conclusions of the new Paytronix Loyalty Report 2022, which found that the top loyalty members are foundational to a restaurant’s bottom ...
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  • Restaurant technology trends to watch for in 2023

    September 20, 2022
    By Brittain Brown The foodservice industry has seen tremendous change over the past year. Diners returned to restaurants in droves, but as if the pandemic wasn’t enough, we also had hospitality labour shortages and decades-high inflation to contend with. While it was a tumultuous time, the one constant for restaurateurs throughout the year is — and ...
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  • How to better understand customer experience (and why it matters)

    September 15, 2022
    By Austin Verner Customers are the lifeblood of any business, and that means delivering an exceptional customer experience is a must to keep your guests coming back. A study conducted by Thanx found that revenue was highly-concentrated among a small number of customers, with the top 25 per cent contributing 64 per cent of revenue. This is ...
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  • Using social media to optimize your LTO sales

    September 14, 2022
    If you own or manage a restaurant, you’ve probably developed a marketing strategy around limited-time offers (LTOs), but are you using social media as part of that strategy? Social media can help you reach a large audience quickly and cheaply, using your LTOs to help drive traffic, create a sense of urgency, and up your ...
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  • Restaurant hiring: how to minimize interview no-shows

    September 8, 2022
    Are you scanning resumes, making calls, and scheduling interviews, but dealing with daily no-shows? Being ghosted by prospective employees is a common challenge for restaurateurs. Recent studies indicate that restaurants and bars are about 600,000 jobs short of pre-pandemic levels, so getting past the interview stage is crucial to hiring – and keeping – a ...
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  • Higher wages may help address the foodservice labour shortage

    September 7, 2022
    As restaurateurs continue to struggle with post-pandemic labour shortage, business owners are looking for new recruiting strategies and ways to combat employee turnover. According to David MacDonald, senior economist for the Canadian Centre for Policy Alternatives, it’s not a labour shortage we’re facing, it’s a wage shortage.   Competition for good candidates is fierce, and restaurateurs ...
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  • Foodservice brands must walk a tightrope between physical & digital experience

    August 30, 2022
    By Dustin Hassett Now more than ever, restaurateurs are operating in an experience economy. Customers are interacting with competitor brands over multiple channels every hour of every day, and they expect every digital experience to measure up to the Amazons and Ubers of this world. Just like the behemoth tech brands, foodservice businesses need to deliver personalized, ...
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  • Why custom uniforms can be effective tools in the hospitality industry

    August 30, 2022
    By Nick Warrick Staff members in the hospitality industry have a critical role in providing a positive customer experience. These employees represent your brand, whether they work in the background or have face-to-face customer interactions. The clothing your staff wears creates a lasting first impression for your guests. Choosing custom uniforms at your location makes a ...
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