September 6, 2017 By Eileen Campbell
In your operation, food cost is likely one of the highest expenses along with labour, rent and overheads. Even the slightest cost increase can “eat” into your profits.
Food cost percentage is a management tool to identify potential problems by comparing changes from one week to the next and should be calculated each accounting period to ...Read more about this post
August 31, 2017 By Jeff Mitelman
Growing a restaurant business at a stable pace throughout the year can be challenging, even for the most experienced restaurant owner. The seasonality and competitive nature of the industry, changing consumer eating trends, and the ramp up costs for expansion all require savvy planning – and often an infusion of capital to put ...Read more about this post
August 28, 2017 By Jennifer Mathers McHenry
On April 23, 2017, the Government introduced the Cannabis Act in the House of Commons. When the Cannabis Act comes into force, adult Canadians will be able to legally possess, grow and purchase limited amounts of marijuana. The Government intends to bring the proposed legislation into force no later than July 2018.
So, ...Read more about this post
August 24, 2017 By Katrina McKinnon
Every entrepreneur starts their own business with only one goal: to succeed. However, a vast majority of business owners have absolutely NO clear idea about how exactly to achieve the desired success.
If you are one of those who wants to enjoy a good reputation and run a popular restaurant, you must be aware ...Read more about this post
August 9, 2017 By Matt Rolfe
Whether you’re part of a large national multi-site operation or a single location operator, the facts show that running a healthy and successful operation is simply getting harder with each month and year that passes. Costs are rising, great management and staff are increasingly difficult to find and even harder to retain, and, ...Read more about this post
August 8, 2017 By David Hopkins
With the announcement of minimum wage increasing to $15 by 2019, restaurant owners in Ontario, Alberta and potentially British Columbia will not only see higher rent and utility costs, but also increases in meat prices. The surge in meat prices will add yet another level to profit challenge, making it harder for the ...Read more about this post
July 27, 2017 By Judy Henderson
By now your renovated restaurant is no longer just a dream and is getting close to becoming a reality. As the final touches are being completed, now is the time to make sure your relaunch plans are set for success.
Since my expertise is design, I’ve asked my communications guy, Michael Ford, owner of ...Read more about this post
July 25, 2017 By Doug Radkey
Starting a restaurant is an exciting, stressful, nerve-wracking, but often rewarding endeavour that is not for the faint of heart. It takes sacrifice, systemized thinking, social skills, creativity, stress management and a lot of passion to lead a restaurant to success.
However, if you’re already living and breathing in this cutthroat industry, it should ...Read more about this post
June 23, 2017 By John Clausen
In the service industry, people seem to have the greatest impact on costs and on revenue — costs such as the efficient use of resources and providing high-quality service at a reasonable price; and revenue generated by repeatable business and positive customer referrals.
Technology, meanwhile, can also be used to enhance the customer experience ...Read more about this post
June 15, 2017 By Greg Kells
When it comes to selling a foodservice business or bar, there are a number of questions that can arise. From maintaining confidentiality to deciding on the right time to sell, the process of selling your business can be daunting.
Here are just some of the questions that you may have if you are considering ...Read more about this post
June 14, 2017 By Doug Radkey
No question, every restaurant or food and beverage related establishment starts with a vision. A dream for most that must be met with the right research, planning, and overall mind-set. Similar to the true definition of branding, one’s market will, and must, also define the concept. To be successful, you must be open ...Read more about this post
June 12, 2017 By Matt Rolfe
Eighty per cent of hospitality owners and managers started their hospitality careers working in the front or back of house. Over time many in our industry rise through the ranks and find themselves leading others rather than doing the work themselves. Does this sound familiar? Was this your journey, or do you have ...Read more about this post
May 15, 2017 By the Restaurant Association of Nova Scotia
There are many appealing factors to running your own restaurant – it’s exciting, fast-paced, you get to be your own boss, make a name for yourself, and so many more. The one thing you will never hear a restaurant owner say is “how easy it is.”
Ask any single person ...Read more about this post
May 15, 2017 By Greg Kells
When you’re thinking about selling your restaurant, it’s important to remember that there are many different types of potential buyers for your property, each with their own perceived value drivers and different criteria.
The value they see in buying your restaurant depends very much on the plans they have for the restaurant. To understand ...Read more about this post
April 27, 2017 By Doug Radkey
The restaurant industry is driven by delivering exceptional (and memorable) customer experiences. As a restaurateur, you need to realize that you don’t just sell food and beverage, you sell emotions through experiences. Your concept, whether a restaurant, bar, cafe or food truck, lives or dies by the customer emotions it creates.
To create emotions ...Read more about this post
