article thumbnail

Growing a Restaurant Strategically – The Keys Are Alignment, Timing and Control

Modern Restaurant Management

Typical restaurant KPIs involve monitoring costs around food, labor and supplies, pricing adjustments, table turnover rates during peak periods, customer wait times, promotion effectiveness, brand sentiment on review sites, and training completion rates.

article thumbnail

Definition of revenue growth strategies

Les Roches

Pricing strategies Inverse Couple Images/ Moment via Getty Images Did you know that, on average, large retailers change prices every three minutes ? To achieve­ revenue growth, imple­menting effective­ pricing strategies is fundamental and a discipline in itself.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Will the hospitality sector see an end to the cost of living crisis?

Hotel Owner

I left school with good grades and knew I wanted to pursue Catering Management, so I joined a course at Bournemouth College. Due to the cost-of-living surge, hospitality businesses are encountering increased expenditures from ingredients, provisions, utilities and even staff costs.

article thumbnail

MRM Research Roundup: Super Bowl and Valentine’s Day 2024 Edition

Modern Restaurant Management

Yelp’s engaged community of locals who share their opinions and reviews is what enables its community to connect with great local and affordable businesses – more than 85% of the businesses on the list are priced under 30 dollars per person. The Bureau of Labor Statistics reported that fast-food prices jumped 6.2

Marketing 196
article thumbnail

How To Open A Cloud Kitchen In The UAE

The Restaurant Times

This model allows the stakeholders to cater to various brands from the same space using the same resources. Significant cost reduction in other aspects of setting up a restaurant helps them develop reasonable and competitive pricing. . Most of the expenses are primarily focused on running the kitchen.

article thumbnail

Inventory Management Software: Definition, Benefits, and What to Look For

Synergy Suite

Inventory management software provides features to manage vendor information, track vendor performance, and compare prices from different suppliers. Usage and Costs Inventory management software helps restaurants control costs by providing insights into inventory usage and costs.

article thumbnail

MRM Plant-Based: Trends in Meatless and Copper Branch Expands in Time for Veganuary

Modern Restaurant Management

Another recent study conducted by the Center for Biological Diversity found that offering earth-friendly catering that focuses on low-carbon, plant-based choices can save wildlife habitat and decrease climate pollution. Pricing and participation vary by location. The new menu additions are available at Carl’s Jr.

Marketing 136