Do you think your level of re-investment is too high, too low, or just right? Independent restaurant owners who understand the critical value of re-investing know that their real margins come from smart investments that help them keep up with guest expectations as well as their own mastery of profit. These owners typically operate at … Continued
It turns out that the barriers holding your results back aren’t unique to you. Sure, you are special, but not that special. And today’s flattish restaurant market does not do the work for you. You have to do it yourself. Even though I write consistently about the four most important things to focus on in your restaurants now—guest … Continued
Chain restaurants have several competitive advantages over independent restaurants – on technology, marketing, and employee benefits. In comparison, your resources in those areas are less than tiny. Yet survey after survey finds that most of the dining public intentionally visit independent restaurants because they would rather support local businesses. And it doesn’t hurt that a … Continued
“Do restaurants make all their money from alcohol and desserts?” Years ago, that’s what one leader in a workshop filled with top consultants from around the world asked me. I thought “no,” but I said “yes” to avoid a long discussion about how you can slice and dice the numbers any way you like to … Continued
“Fake it ’til you make it” is a horrible strategy for developing a multi-unit team, building a restaurant company, or come to think of it – anything else. So how do you supervise your first operations director or marketing director? Or business manager or CFO? Or learning-and-development person? Successful restaurateurs look in the mirror and ask themselves … Continued
As the year begins and we make resolutions, no doubt you have realized how time is finite – and you don’t want to waste any of it. But owning a restaurant can make you feel like all 24 hours in a day belong to the business, with no time left for you to experience the … Continued
We exist in a stable economy, and that’s something we have not been able to say for years. Yet “stable” doesn’t mean nothing’s changing. Change is constant. The change could be positive (new economic policy/lower taxes) or negative (tariffs and deportations). Whatever happens, we will conquer it together. Still, no one predicts great growth for … Continued
In 2024 we learned how to operate successfully and improve results in a flat market. Not the most enjoyable subject, but one that will remain valuable for the rest of our careers. Forget this lesson at your peril. I started out the year reminding you to focus on guest count and employee retention, and built … Continued
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