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Sign At Your Own Risk: Critical Lease Provisions to Negotiate or Avoid

Modern Restaurant Management 18 September 2018
Negotiating a retail lease is one of the most critical stages in the life of a restaurant. Each lease presents its own distinct issues and challenges; failing to have significant attention to detail can inadvertently result in an unsuccessful business or impede your growth; one oversight can destroy your succession plan or exit strategy.

Scanning the Horizon: What the Hospitality Industry Needs to Know About Biometrics

Modern Restaurant Management 14 September 2018
Biometric data (fingerprints, retina scans, voice recognition, etc.) are used to identify an individual using that person’s unique biological characteristics. No longer a thing of the future or portrayed in an episode of “Mission Impossible,” private companies and the government collect and use biometric data for a variety of reasons.

Guest Vulnerability and POS

Modern Restaurant Management 4 September 2018
You may not think about it this way, but the guests who enter your stores and pass through your drive-thru lanes bring you more than money and huge appetites. With every transaction, they could be turning over to you their names, email and physical addresses, birth dates, bank account information and their credit card numbers, in essence their identities and their financial well-being.

Do You Count? Why You Deserve Data to Increase Profit

Modern Restaurant Management 30 August 2018
It’s no secret that the most critical metric for any restaurant owner to optimize their food cost is cost of goods sold (COGS). However, counting inventory and applying most recent pricing makes it extremely difficult to calculate an accurate COGS. So much so that 60 percent of small restaurant owners do not consistently take inventory, which means they run blind to the most important metric, their profitability.

Rising Labor Costs Drive New Thinking for Restaurants

Modern Restaurant Management 29 August 2018
The restaurant sector is competitive. Changing customer behavior and the relative ease of new entrants drive a flurry of activity intent on improving competitive positioning. And then there’s the cost of labor. Record low unemployment, industry annual turnover rates exceeding 120 percent, and rapidly increasing statutory wage rates are changing store economics at a breakneck pace.
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The Art and Craft of Menu Making (Infographic)

Modern Restaurant Management 24 August 2018
In the restaurant industry, having a well-designed menu that is carefully laid out and planned is a must. Your menu is the main tool that drives sales to your business, and engineering your menu can help bring in more sales and boost your profits. Additionally, studies have shown that a well-designed menu can boost your profits by 10 to 15 percent.

The Unexpected Costs of Opening a Restaurant

Modern Restaurant Management 17 August 2018
You already know there are a ton of things to consider when opening a restaurant. With so many moving parts, it’s surprisingly easy to underestimate—or even flat out overlook—some of the particulars. Even with the most meticulous planning, some things tend to fall through the cracks.

On Display: Restaurant Kitchen Efficiency

Modern Restaurant Management 17 August 2018
If you’re a restaurant owner, you’ve probably heard of the kitchen display system. But what is it, and how could it improve your restaurant? The kitchen display system (also called the kitchen video system) is a digital alternative to kitchen printers and paper tickets that connects to your restaurant’s POS software.

MRM In Conversation: Insurance Questions for Food Trucks, Concessionaires and Vendors

Modern Restaurant Management 16 August 2018
Every summer we see more food truck or pop-up restaurants and festivals. How can your business benefit from these events and be protected from common summertime risks? Having business insurance can make a big difference when trying to land more venues for your food truck or temporary restaurant.

Five Tips for Working Effectively with Food Delivery Services

Modern Restaurant Management 13 August 2018
Online ordering and food delivery service have been growing 300 percent faster than dine-in traffic since 2014. Millennials and Generation Z are driving this trend, as their need for variety and convenience continues to influence the restaurant industry.

Report: Diners Crave Complementary Technology

Modern Restaurant Management 13 August 2018
Diners have increasingly high expectations for their entire restaurant experience, from making a reservation to paying the check, according to a "Diners of the Future” report from SevenRooms.

MRM Imbibe: Golden Bar Awards and the Robotic Bartender

Modern Restaurant Management 11 August 2018
Summer is here and tourists are everywhere, which is great news for the restaurant industry. Restaurants and bars across the country (particularly in areas near the ocean and/or lake regions) are experiencing an uptick in customers. Upserve analyzed millions of daily food and beverage sales transactions for thousands of restaurants in the U.S. in 2017 and provided some key insights to help restaurateurs capitalize on sales this summer.

Food Industry Snapshot (Infographic)

Modern Restaurant Management 10 August 2018
The restaurant industry has experienced a rough patch over the last few years, but off-premises catering has proven to be a bright spot. The restaurant industry is a $606 billion market, so it may be a surprise to know that independent restaurants are facing challenges. While this group makes up 64 percent of all restaurants, they only generate 40 percent of the revenue.

What's Next for Restaurant Tech?

Modern Restaurant Management 9 August 2018
Throughout history, everything from the dishwasher to the blender has helped make the restaurant industry more efficient and enjoyable for staff and customers alike. But what technological advancements are happening in today’s restaurants? The food serving tech of now is working to reduce waiting times, create relationships with customers and deliver high end meals to wherever the customer happens to be.

Is Dynamic Pricing Right for Your Restaurant Brand?

Modern Restaurant Management 31 July 2018
More restaurant operators are taking advantage of dynamic pricing, which is the process of adjusting prices based on customer demand. While relatively few U.S. restaurants have adopted this new approach on a day-to-day basis, many operators are wondering if it might have merit for their operations. A few restaurants have been successful in executing dynamic pricing as a core part of their strategy, with the most well-known being Chicago restaurant Next, which opened in 2010. The restaurant is consistently rated one of the top 10 in Chicago, and sells reservations in advance online with prices that vary depending on the day and time. For example, a Friday 5 p.m. reservation might tie to a $185 charge per person, while a 5:45 p.m. reservation on the same day may be $195. As the night moves into the most popular timeframes, the reservation price increases. Here are three things to think about as you consider a pricing strategy...

Must-Have POS Features Every Successful Restaurant Should Use

Modern Restaurant Management 30 July 2018
Go beyond fleeting trends with a must-have business management toolkit that is here to stay - a reliable and feature-rich POS system. Investment in a smart and innovative system will unify front of house, back office and kitchen operations. Specialist software features offer complete command of all areas of the business. Modern POS, or EPOS, systems are adept at streamlining a multitude of hospitality operations – from QSR to fine dining. So how do you choose the best for your business? Let’s take a look at the must-have management EPOS features and their proven benefits. Sales Management Tools What this feature does:EPOS systems can provide granular sales data with a full breakdown of transactions by date, location and specific tills. Many EPOS systems offer real-time reporting and integrations with popular business accounting tools such as Sage and Xero.
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MRM EXCLUSIVE: Four Tips for More Efficient Restaurant Payroll

Modern Restaurant Management 17 July 2018
The most surefire way to upset an employee is to mess up his or her paycheck. The more manual the payroll process, the more likely HR managers are to deal with paycheck errors and unhappy employees. Restaurants have a particularly challenging time ensuring the payroll process goes smoothly because of the very specialized regulations involved in transferring data from a point-of-sale system into a payroll platform.
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Dining Data Helps Restaurants Trim their Waste

Modern Restaurant Management 13 July 2018
Restaurants are leading contributors to food waste nationwide, but data is helping food service organizations transform their business practices to dramatically cut down on waste. The average person in the U.S. generates more than four pounds of waste per day and landfill costs are on the rise. In 2017, the average price to dispose municipal solid waste (MSW) increased 3.5 percent from 2016 to $50.60 per ton.
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Must-Have POS Software Features for Pizza Restaurants

Modern Restaurant Management 26 June 2018
An up-to-date, efficient POS system can go a long way in a pizza place. Between delivery and in-store business, a pizza parlor owner has a lot on their hands to worry about. The pizza business is an ultra-competitive industry with razor thin margins. As a result, many pizza shop owners are turning to technology to gain a competitive edge.
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Facing Your Biggest Fear: Restaurant Failure

Modern Restaurant Management 19 June 2018
Every new business owner faces the same dilemma: what if it doesn’t work out? Well, it’s not as bad as you think. According to the U.S. Bureau of Labor, 75 percent of new businesses survive their first year. But the challenge continues as 69 percent survive the second year and only 50 percent make it to five years. But just because the data says so, doesn’t mean you will just let chance dictate your fate.
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Case Study: How a Menu Matrix Turned an Underperformer into a Top Seller at PRESS Bistro

Modern Restaurant Management 13 June 2018
PRESS Bistro, a full-service restaurant serving up locally-sourced American fusion fare, is thriving and playing a part in reviving the struggling economy of downtown Johnstown, Pennsylvania, an area hit hard by the closure of steel mills. Owner Jeremy Shearer has attracted loyal guests, but he struggled to find the right restaurant POS that would make it easier to manage, help grow margins and remain reliable during the busiest shifts.
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The Benefits of an Energy Management Plan in Restaurants

Modern Restaurant Management 12 June 2018
When you own or manage a restaurant, you know that cost savings are critical to ensuring your restaurant is able to run smoothly. In many cases, you may resort to extreme measures in order to cut costs where you can. Clearly, this is about more than just the dreaded thermostat wars that can take place in any working environment.
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Debunking Event Management Myths (Infographic)

Modern Restaurant Management 11 June 2018
Did you know that 20-30 percent of a restaurant’s revenue can come from private events? Restaurants who don’t have an events business – or aren’t investing much in it – are missing out on a significant revenue stream.
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How Restaurants Can Benefit from IoT-Enabled Energy Management

Modern Restaurant Management 1 June 2018
For a restaurant company, the cost of heating and cooling buildings and powering kitchen equipment represents three to five percent of total operating expenditure. In a competitive industry with razor-thin margins, even a slight improvement in efficiency can make a significant difference, especially for large operators overseeing hundreds and thousands of facilities.
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What's Next in Online Ordering

Modern Restaurant Management 28 May 2018
Recent advances in technology have completely changed how the restaurant industry does business. The rise of online ordering -- first through a website and more recently through mobile apps -- has quickly led to a revolution in how customers connect with and order from a particular establishment. Technology moves so fast that as soon as one platform becomes well-established, there are already three more up-and-coming platforms to adopt. Not adapting to these changes can cause your business to become stagnant and lose customers. With that in mind, let’s take a look at some predictions for what’s going to be hot in online ordering systems over the next few years. Targeted Ads Using advertisements targeted to specific customers isn’t a new thing, but it’s certainly something you can expect to become an even bigger player in the next few years.
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Pilotworks: Learning to Fly

Modern Restaurant Management 11 May 2018
Pilotworks, the nation’s largest on demand kitchen space, recently opened a facility in Newark, New Jersey. The kitchens provide access to flexible cooking infrastructure and equipment that rents by the hour and month, lowering the barrier to entry to young culinary entrepreneurs. They play host to market vendors, QSRs, CPG companies, bakers, caterers, delivery-only concepts, ice cream makers, chocolatiers, meal preppers and many other forms of culinary entrepreneurs. The company also connects their members with access to their network of 75-plus mentors that help with a wide range of topics, including fundraising, legal, social media strategy, recipe development, sourcing, branding and accounting. Pilotworks has spurred business growth for food businesses including Aida Eats, Mac & Son, BOONBOX, Dank and Crown Jewel Beverages. Co-founders Mike Dee and Nick Devane acquired the first kitchen in September 2016 as a way of supporting emerging food startups.

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