RESTAURANT PROFIT: Profits are Tight. Here’s 3 Proven Ways to Make Your Restaurant More Money in 2018 [Provided by Orderly]
It’s everyone’s New Year resolution – to make more money. But in the restaurant business that’s not so easy. Labor costs, food costs, and rent are all going up. How can you break out of the single-digit margin slump? Here are 3 proven tactics to make tens of thousands of dollars more on the same revenue next year. Get the tactics and 3 free tools to help you make more money here.
DID YOU KNOWS…
When “Losers” Win
José Andrés is offering to feed any member of the media bashed by Donald Trump’s “Fake News Awards” – specifically, a free lunch. Andrés has prodded Trump often in the past year. One reporter has inquired if the minibar serves lunch.
The Museum of Ice Cream Has Been Fined for Its Environmentally Hazardous Sprinkles
Pop-up restaurant Museum of Ice Cream owes the City of Miami $5,000 for having environmentally unfriendly sprinkles. The pop-up as a Sprinkle Pool attraction that’s a room with a pit of plastic “sprinkles.” Those sprinkles get stuck on clothing and be dislodged into storm drains or on the ground, posing a risk to marine and local animal life.
Do Beer Koozies Actually Work?
They’re a summertime accessory for everyone’s favorite steak-grilling uncle, but do beer koozies actually keep beer cold longer? Here are the results from Thrillist’s “very scientific” (*shakes head*) experiment.
BADA-BA-BA-BA WE’RE TRYING IT (AGAIN)
Why it matter’s to you: McDonald’s is preparing to re-launch a burger made of fresh beef to compete with fast casual chains.
In the mid 90’s McDonald’s Launched an actual freshly made burger aimed at adults called “The Arch Deluxe” with its’ largest to date marketing budget that bombed big time. Now in 2018, they are aiming to relaunch the burger for (somehow) $2.19 in an effort to further compete with smaller “Fast Casual” chains like Five Guys, Shake Shack, and In N Out. They have tried this before on a smaller scale in 2016 with the quarter pounder in order to work out the kinks (smaller meaning 75+ locations) and they are now aiming a full scale launch of the new and improved arch deluxe.
How this burger will perform is unclear but they have been trying to turn things around with their All-Day breakfast and $1 $2 $3 Dollar Menu returning. All things considered, They had a cartoon time travelling scientist related hiccup in 2017 but otherwise performed much better than the last few years and seem to be continuing the trend in whatever ways they can. The important thing is that the consumers win here. These restaurants serving more options of better quality food for reasonable prices is the name of the game and, in order to survive everyone has to play.
PAY TO PLAY
Why it matters to you: They say Hollywood leads our culture.
When the #MeToo movement started, with Rose McGowan and Alyssa Milano, most people weren’t terribly sensitive to the inequities women face in our society. Fast forward just a few months and you can’t have missed that things are changing. The morphing of the movement to #TimesUp means that it isn’t going away and it’s time to look more closely at what’s next. In Hollywood, there has always been a pay gap between men and women in the movies the produce. This is highlighted with the revelation that Mark Wahlburg was paid $2MM to reshoot scenes from the move All the Money in the World, but Michelle Williams got nothing.
This type of sexist pay scheme isn’t exclusive to Hollywood. Estimates show the pay gap between men and women in general ranges from 71% or 92%, depending on the study methodology. The gap should be zero, but it ain’t. Our industry is no stranger to these inequities and we have even fewer excuses than any other industry. 54% of our staff are women, but they make up only 36% of managers.
While there are external factors, the reality is, we can do better. If you haven’t recently reviewed your own practices as pertains to pay equity, then do it before someone forces it on you. It will tell your team you are about equity and make you a more attractive employer to the 54% of women in our industry…just sayin’.
