Technomic forecasts a 4.25% increase in restaurant revenue for 2025 – with 4% of that coming from menu price inflation. So, as you protect yourself in 2025, you will raise your menu prices, taking price in small increments. Because you can’t afford to let margins erode. More Carefully and Less Often Even with inflation currently … Continued
It’s a lot easier to cut your grass with a riding mower than with scissors. And achieving success shows up in every KPI you can think of when your managers truly lead and coach. Together, management, leadership, and coaching are a combo meal – where you have to pick all three – yet, at a … Continued
At QSRs, they call it a “value meal”: a group of items bundled at a lower price than the price paid for buying each item separately. That whole concept messes with your head—because it defines value as price, and nothing could be further than the truth with the restaurants I work with. With my clients … Continued
10 years ago, I worked with a couple of burger clients, one of whom would not do delivery because of “the quality of the burgers by the time they travel” – and another who, for the same reason, did not even offer to-go orders. Flash forward to today and that thinking has vanished, like talking … Continued
It used to be that a restaurant could be packed all the time even if its food and service were just OK. Not anymore. This example turns out to be a permanent change in our industry, and the sooner you accept that the days of punch-card loyalty programs, dried flower arrangements, and old consumer behaviors … Continued
Have you set up your company properly to track financial success related to your management development efforts, value of the guest experience, and branding and cost management initiatives? Do you share accurate information freely, presented in a format and cycle common to the industry? Do the professionals you hire easily use it, and does it help … Continued
It may seem like “a riddle wrapped in a mystery inside an enigma” (thank you, Winston Churchill, for the quote), but one of the great advantages you have as an owner of a small (or even medium-sized) business remains making big moves quickly. And in times like these, big moves are what you need if … Continued
Q4 starts today. Everyone wants to maximize Q4 through the holiday spend. When you see that Christmas and New Year’s Day occur on Wednesdays this year, you know that 2024 provides the optimal set up for making money in Period 13. Many of my clients experienced a flattish year. Others take action and have increased … Continued
It turns out that the turbo-charged technology boost that independent restaurateurs experienced in the pandemic era now looks like a dress rehearsal for the next wave. Today, my clients ask when the bells and whistles they have read about chains developing will become available at their level. They’ve paid attention to reports of BJ’s AI-powered … Continued
The new Starbucks CEO is Brian Niccol. You may not know the name, but his strategy shows up as extremely relevant and helpful to you right now. Brian came to Starbucks from Chipotle with a mission to increase financial performance and get Starbucks’ stock price rising again. His main strategy? “We are getting back to … Continued