By Doug Radkey Sales don’t pay your bills; profits do. In an industry that is obsessed with topline revenue and social media impressions, we often forget the number that really matters: your bottom-line profits. It’s easy to boast about a small independent restaurant generating $1.5M in revenue, for example, especially when average guest spend is at […]
By Nathen Dube In 2025, food prices in Canada are expected to increase by three to five per cent, with the average family of four set to spend approximately $16,833.67 on food. This marks a notable rise of up to $801.56 from the previous year. As food prices continue to climb, restaurant owners and operators […]
The last few years have seen a steady and dramatic rise in the cost of food. In January, inflation reached a dramatic 11 per cent, however, global inflation is on the decline, with Germany recording a drop from 22 per cent fourteen months ago to .15 per cent today. Similarly, the United States has seen […]
With the continued inflation and restaurant costs, does your loyalty program still offer value to your customers and make sense for your business? As your customers’ and your restaurant’s needs change and evolve, so, too, should your loyalty program. And while those changes are not always well received initially, it’s important for restaurants to maintain […]
Consumers and restaurants continue to battle food inflation, but some costs have started coming down since January, albeit not to pre-pandemic levels. Sylvain Charlebois, senior director of the Agri-Foods Analytics Lab at Dalhousie University, recaps the items with the largest price reductions so far this year: Tomatoes (- 38 per cent) Cucumbers (- 31 per […]
With so much talk in the media about inflation and rising food costs, many restaurants have increased their menu prices to try and offset their costs. Just how much have prices gone up for consumers as operators have raised rates to try and recoup some of the losses felt over the last few years? According […]
Food inflation continues to weigh on restaurants and consumers. We have watched food costs reach record-breaking levels in this last year and experts predict that it will continue beyond 2023, offering elevated numbers into 2025. Current inflation has surpassed previously predicted numbers for 2023, reaching 10.6 per cent in February year over year, significantly above […]
The foodservice industry has been fighting the ongoing labour shortage ever since they were allowed to reopen after the pandemic and many of them are preparing to struggle for the long haul. Last year, 25 per cent of restaurateurs were confident that the labour shortage would end in the next six months, however now, 90 […]
As rising food costs continue to make headlines, many restaurants have raised their menu prices to help find a balance and offset their increased expenses. Rather than simply upping prices across the board, it’s a good time for restaurants to evaluate their margins, engineer their menus, and adjust pricing to better the bottom line. RELATED: […]
Restaurants continue to struggle with food costs and labour shortages, but some experts are seeing inflation as a catalyst for positive change. David Hopkins, president of The Fifteen Group, sees the situation as a great opportunity for restaurants to tighten their operations and increase efficiency. Adjust pricing to address inflation “Restaurants have always had to […]
