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Restaurant Marketing Has Evolved: Unlock the Preferences of the Modern Customer

Modern Restaurant Management

2023 brought new challenges to the table for the restaurant industry, from rising food prices due to inflation to continued disruptions in the supply chain. But, according to the same report, about 40 percent of consumers agree that with rising grocery store prices, it’s not necessarily cheaper to eat at home.

Marketing 197
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How AI Alleviates Restaurant Pain Points

Modern Restaurant Management

Since the pandemic, restaurants have endured a plethora of issues ranging from fluctuating dining restrictions to supply chain issues to rising food prices. Evidently, restaurants will still have to work to meet increased demand, and customer service must be a focal point even when tightening budgets.

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The True Cost of Ice Machine Ownership

Modern Restaurant Management

Once you buy it, you still have to budget for ongoing maintenance and repair expenses that will come up as long as you drive the car. The Initial Purchase/Capital Costs The most you’ll spend on your ice machine at one time will be the purchase price, which ranges from $5,000-$10,000 for the most popular models.

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How to Calculate Food Costs in Your Restaurant

Synergy Suite

For example: $50,000 worth of initial inventory + $25,000 worth of inventory purchased – $45,000 worth of ending inventory = $30,000 in actual costs (or COGS) This calculation is more accurate than cost-per-dish because you’re using tangible inventory and purchase price numbers. Raise menu prices. Examine your menu.

Pricing 52
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The ultimate guide to restaurant entrepreneurship

Les Roches

You’ll need a clear plan, a great location, and a top team who can deliver excellent customer service. You need to know what customers want and what competitors in the food service business are doing to give your new venture a competitive edge. Common factors include weather, events, holidays, and supply chains.

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2023 Outlook: Trends and Challenges Restaurants Will See, Part Two

Modern Restaurant Management

Reduce portion sizes slightly to maintain menu prices but account for increased costs. Don’t be afraid to increase price. Don’t be afraid to increase price. Do a budget and work on predicting cash needs the next 60-90 days. However, when the pandemic hit people were less sensitive to prices.

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MRM Research Roundup: Mid-September 2021 Edition

Modern Restaurant Management

“The Discerning Diner report provides our members with the information they need to make choices around everything from menu selections and customer service options, to marketing initiatives and possible new revenue streams that today’s consumer is interested in. ” Supporting Local. ” Attracting New Diners.

Marketing 178