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
Only in a presidential election year would both major candidates be supporting a fiscal policy of no tax on tips. I understand why this excites people in the industry and our associations. But I’m not one of those people . I get it. When we’re trying to attract employees, exploring every possibility makes sense. … Continued
Everything starts with real estate – and I have never seen a restaurant real estate market like this: The days of landlords chasing you down to do deals are a distant memory, like telephoned restaurant reservations and hard-wired internet. Among my clients, the more established brands are finding it easier to attract landlord interest, leaving the less … Continued
Next year, passengers on Southwest Airlines flights will be able to find their assigned seat and, for an upcharge, get to luxuriate in an extra 5 inches of legroom – just like they do now on Delta, American, and United. The days of open seating and “one class” cabins, like on the flight I’m on … Continued
In this challenging environment, two questions hold the key to unlocking increased sales and profit: These days, you must have every possible element working in your favor. Making things right can add 5% to the top line and 2% to the bottom line. Everyone wants these numbers. Especially as they think about their business during … Continued