QFO: Are busy locations usually the best locations for the establishment of a restaurant business?
QFO: What are the benefits for restaurant owners if Guests place an order on a delivery app rather than calling in directly to the restaurant?
The benefit is always less than if your brand controlled everything it touches. Using a third-party to execute a significant portion of your Guest experience can be crippling. The Guest’s loyalty then is with the delivery brand and not your brand regardless. You’ve become a commodity.
QFO: How long after opening will a restaurant begin turning a profit?
I wish this level of thinking would die a slow miserable death. It’s caused more confusion and uncertainty than just about any other myth in the business. Restaurants that are successful today are profitable from Guest one. It’s by design. And it doesn’t matter what parameters you want to […]
Pricing Is A Key Component To Sustainable Success
Pricing means different things in different industries, and every company has different needs. We draw from an extensive toolkit to develop a tailored solution that works for your environment and your people, and we work with you to design solutions that allow your organization to develop the skills to repeat the process […]
The Top 10 Components To A Successful Hospitality Marketing Plan
1. Execution. You have to walk the talk. Every part of the guest experience has to be executed or no amount of external marketing will help your business grow. 2. Effective positioning. Who are you to your guests? Are you offering any differentiated value or are you just another commodity […]
“How Do You Build Volume?”
An age old question in Hospitality is still, “How do you build volume?”
QFO: What are the biggest challenges an independent restaurant faces in its first 5 years of business?
The timeline is irrelevant. But the list of challenges is the same as it’s always been…
Weekend Payroll Help – #TOTD
If you’re waiting for Friday & Saturday to be able to make payroll – you have serious issues that need to be addressed. #20thCenturyThinking — Jeffrey Summers (@JeffreySummers) July 28, 2017
Labor Costs Double And Will Double Again
“In the past 18 months, restaurant wages have risen at double the rate of menu prices and will double yet again in the next 18 months.”
The Insanity of Losses
There’s a reason nearly 72% of all food service businesses go out of business within three years (fact not fiction). This level of thinking is part of the reason.