Friday, November 11, 2016
Today's Specials:
TIPS: Four Building Blocks for Your Restaurant's Reputation Management
Our industry is a super competitive, an industry where harsh reviews and quick judgments have become a part of the trade. Here's how to manage your restaurant's reputation and keep guests satisfied.
DOWNLOAD: New Regulations Are Coming. Are You Ready?
Starting next month, there will be new overtime rules that will make up to a third of employees eligible for overtime pay. Anyone making under the $47,476 salary threshold will be eligible for overtime pay for work over 40 hours. Is your restaurant ready for the change?
TIPS: Combating the Holiday Lull [Presented by Upserve]
Believe it or not, holidays mean less guests. With the exception of a few major holidays (cough Valentine’s Day), restaurants are known to see a decline in guests during seasonal holidays. In fact, sales drop as much as 20% for restaurants during the holiday season. Here are three tips for increasing your holiday traffic.
DID YOU KNOWS…
Russia
In what seems like a portrait-perfect metaphor, Burger King Russia is creating a “Trump Burger” which is described as a supersized version of their so-called “Angriest Whopper.” We see you trolling, BK Russia.
Inspection Scam
Health officials in Ohio are warning restaurants about a health inspection scam going around. The scammers are asking owners to provide credit card info to cover costs of the inspections, then using that info to charge thousands of dollars in merchandise. As always, make sure you and your staff know what the rules are for your area.
We Can All Chill Now…
…Starbucks has created a whole line of holiday red cups. More than a dozen different versions, so we’re sure at least one of them is “festive” and “Christmas-y” enough for folks. See for yourself.
IS TRUMP GOOD OR BAD FOR THE INDUSTRY?
Why it matters to you: It’s hard to say how Trump’s policies might influence our industry.
In a surprising turn of events, restaurant stocks are up. Large chains haven’t had the greatest year, but companies like Darden’s, Noodles & Co and others experienced a boost of five to six percent following Trump’s victory. With the pledge to repeal the Affordable Care Act in his first 100 days, this could be good for medium to large chain operators who will no longer have to foot the bill for their workers’ healthcare. Another positive is in regards to the Federal minimum wage which will most likely not see an increase under Trump.
On the flipside, Morgan Stanley predicts that Trump’s presidency will hurt restaurants more with his aggressive immigration policy than help it with his aforementioned plans. Undocumented immigrants account for a large portion of restaurant staff, not to mention their earnings support the economy. Morgan Stanley also identified a few chains that would be hurt the most like Jack-in-the-Box, El Pollo Loco, and Wingstop. Whether you were for or against Trump, it’s still too soon to tell how his policies will influence the future of the restaurant industry.
THE BEST INDIES
Why it matters to you: You can learn from the best.
Restaurant Business Online released their list of the top 100 Independent Restaurants in the U.S. Unsurprisingly restaurants in Chicago, New York City, and Las Vegas populated the list the most. What is surprising, though, is the average check! Timberline Steaks and Grille in Denver, CO showed an estimated average bill of just $16.00, but serving 803,000 meals means that their average sales were over $12 million! Grosses like that just go to show that the perfect balance of price and turnover can produce great sales.
NO KIDS ALLOWED!
Why it matters to you: Your own policies can seriously impact the business you do.
The debate has made headlines but it still isn’t over. Should you ban young children or children in general? Children are kind of the worst. They make a mess throwing food on the floor, or damaging walls and furnishings. Strollers in the middle of dining rooms are a hazard, and a screaming tot can ruin the ambiance and experience of a fellow guest paying a pretty price for a pork chop. But is that enough to ban them?
Perhaps yes. We’re not saying all restaurants should ban children. Doing so can alienate some of your guests. But as Mike Vuick, a restaurant owner in Pittsburgh, saw back in 2011, it can boost business. Vuick actually saw his customer base grow after banning children, basically offering a child-free sanctuary. In this case, the good seriously outweighed the bad. Your policies are of course up to you but should support the majority of your customer base, otherwise, you risk losing more than you gain.