Business

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  • Tips for ordering inventory like a pro

    March 29, 2017
    By Doug Radkey Having the correct front-of-house (FOH) and back-of-house (BOH) systems in place will equally position you and your team to ‘order like a pro.’ First and foremost however, you need to understand and realize that the necessary return on both your food and beverage investment is partially a question of your trainable cost control ...
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  • Should you become a restaurant owner?

    March 27, 2017
    By Greg Kells It requires long hours, passion, commitment and determination to run a restaurant, especially in the first few years. So, if you are thinking of buying a restaurant, do you know your reasons why? As business brokers specializing in the foodservice industry, we have helped many prospective business owners to make the right choice by ...
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  • The impact of Budget 2017 on foodservice

    March 23, 2017
    Foodservice industry should expect changes, both good and bad, with new federal budget By Kavita Sabharwal With the tabling of Budget 2017 comes some changes for the foodservice industry. Although the government plans to increase tourism funding and is putting into place rules to make trade less costly across provincial lines, some other changes to the federal ...
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  • How dinner is changing to suit today’s hectic lifestyles

    March 21, 2017
    By Kathy Perrotta Today’s modern eating culture is fraught with a vast array of options, with around-the-clock access enabling consumers to make more autonomous choices that meet highly personal preferences and needs. What do I feel like? Do I feel like cooking at home, or should I go out? Should I pick something up or get ...
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  • The importance of planning your restaurant’s renovation

    March 7, 2017
    By Judy Henderson Planning a restaurant renovation is the key to success — miss this step at your peril. This process, conducted every seven to 10 years, will keep your restaurant in the game. Here are some things to consider when making your plan: Timing This may seem obvious, but you’d be surprised how many restaurant owners don’t ...
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  • How technology is enabling the future of the foodservice industry

    February 23, 2017
    By Ziv Schierau Discussing the intersection of technology and dining lends itself easily to extremes. For example, you might imagine ‘The Restaurant of the Future’ — a Jetsons-like scenario — where automation has completely taken over every aspect of the dining experience, where meals are served using 3D-printers and each meal comes out perfect, every time. ...
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  • Developing effective FOH and BOH systems

    February 22, 2017
    By Doug Radkey The more any restaurant depends on the owner’s day in-day out involvement in the operational details of the restaurant, the greater the risk of failure. Starting and operating a successful restaurant or bar relies heavily on having the right systems in place, allowing the venue and its hired team to work as a ...
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  • When should you sell your restaurant?

    January 17, 2017
    By Greg Kells Many restaurant owners have days when they really wish they could just walk away from the business. Such days can happen because of equipment malfunctions, weather, delivery problems, cash flow issues or — the No. 1 reason — staff issues. Sometimes the feeling is temporary but when it happens on a recurring basis ...
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  • Restaurant technology trends for 2017

    December 20, 2016
    Highlighting a few of the technology trends restaurateurs can expect next year By Kavita Sabharwal Restaurant technology is an ever-evolving game. Gone are the days when customers had to wait for their server to manually imprint their credit card onto carbon paper to pay for their meal. Instead, technology has advanced to the point where servers can ...
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  • Employee turnover: Not necessarily a bad thing

    December 19, 2016
    By David Hopkins One of our first clients at The Fifteen Group originally contacted us as they were having challenges with making strong profits on strong sales. As we quickly discovered, this was in large part because of difficulty in controlling labour costs. It wasn’t because they weren’t good at managing labour efficiency; it was because ...
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  • Intellectual property in the restaurant industry

    December 14, 2016
    By Eric Mayzel Great recipes, inviting décor, and inspired presentation can help a restaurant thrive in a competitive environment. Likewise, a number of intellectual property (IP) rights can help develop and protect the restaurant’s brand. Restaurant owners and operators who hope to develop their businesses’ brands should learn about and understand their IP rights and, where ...
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  • Customer analytics: Do you know what you need to know?

    December 8, 2016
    By Don Gray Wikipedia defines analytics as the discovery and communication of meaningful patterns in data and also categorizes different types of analytics such as descriptive, predictive and prescriptive analytics. For those interested in the science around analytics, the above descriptions are a good starting point on a somewhat complex subject. Human beings are naturally analytical; we ...
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  • Helping your business stand out in a crowded marketplace

    November 29, 2016
    By Mark Dempsey Welcome to today’s reality. Consumers are reluctant to visit foodservice. Operators are struggling to differentiate and drive traffic. Tough economic times – such as the rise of the national unemployment rate (up to 7.1 per cent) — ensure that Canadians continue to spend cautiously. Traffic, which is already challenged, will continue to be ...
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  • Foodservice opportunities in the Canadian retail market

    October 20, 2016
    Foodservice expectations, millennial eating habits and online food delivery are just some of the factors impacting the foodservice industry across Canada By Rebecca Melnyk One new trend in commercial property management, specifically retail operations, is incorporating foodservice into bricks-and-mortar stores to discourage guests from shopping online. This pairing of two industries is becoming a more viable option ...
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  • Canadian restaurant accounting standards

    October 17, 2016
    By Douglas P. Fisher, BAS, MSc, FCMC, FCSI In 1993, the Canadian Restaurant Accounting Standards in order to assist independent, small, mid-size and large restaurant chains to use a nationally recognized standard of accounts. These standards were updated in November 2009 with the release of Canadian Restaurant Accounting, Second Edition. The Canadian Institute of Chartered Accountants ...
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