OPERATIONS: In Like a Lion, Out Like a Lamb: How to Prep for March Madness
March Madness starts off busy for sports bars but can quickly fade into nothing. Here's how you can prep for the 2018 March Madness tournament and make the most out your restaurant's traffic increase.
DID YOU KNOWS…
Would You Intentionally Miss a Shot?
Iowa’s Jordan Bohannon intentionally missed a free throw on Sunday. Sounds like madness, but he’s got a good reason. He was tied for school’s all-time record of most consecutive free throws made. The player he was tied with, Chris Street, died tragically in 1993 during a car accident. Bohannon had grown close to the Street family and wanted to honor Chris’s name and record. Respect.
Striking Gold at the Winter Olympic Games
The XXIII Winter Olympic Games in Pyeongchang saw Norway win most gold, silver and bronze medals. Athletes from the Scandinavian country added 39 medals to Norway's all-time medal count, now standing at 368. This means they have overtaken previously 2nd placed Russia, who is still ahead counting gold medals only. Germany has a comfortable overall lead with 408 winter medals. Here’s how the USA stacks up against the world.
Overcharging & Underpaying is Usually a Bad Thing
Instacart, the grocery-delivery startup, is in a bit of hot water after it has admitted that it had mistakenly withheld tips from its workforce and failed to waive service fees when it promised to with customers. We tend to advise not alienating both your staff and your patrons. Consider this a quick reminder if that if you’re collecting tips for your staff that you’re divvying it out properly.
NATIVE AMERICANS TALK TRUMP & SNAP
Why it matters to you: Trump’s proposed SNAP plan sounds all too familiar to Native Americans.
Historically, the US have assisted Native Americans’ food supply issues however we can. Our ancestors stole their land and murdered their people, so how else could we repay them? Double the rate of type 2 diabetes and 1.5x the rate of obesity of course! Native Americans have been receiving a very similar type of food assistance to the one that Trump proposed not long ago. And it’s truly an awful plan for the American public just as it has been for Native Americans. Canned fruit and vegetables (if any), powdered milk, powdered mashed potatoes and all sorts of other nuclear bomb shelter-esque foods. Scientists have tried to come up with all types of possible explanations for Native Americans’ health problems, but the fact of the matter is that they were not nearly as predisposed to these conditions until they were subjected to a more Western, prepackaged diet.
We have previously discussed how bad of an idea Trump’s plan is for several reasons, so where does this all go from here? It’s unfortunate, but we once again use the Native American people as a prime example of what happens to a community when they eat primarily shelf-stable foods. Trump’s plan will, at the very least, lead to widespread health problems and a significantly larger national debt. For those reasons a lone it should be shot down before it can take off.
WING PRICES FALL ALONG WITH STOCKS
Why it matters to you: Chicken wing prices are down and so are Wing Stop’s stock.
Since peaking in 2017, chicken wing prices have plunged, making issues for some wing-focused restaurants like Wing Stop. With wing prices being high in 2017, it assisted the growth of the chain and set them up for a seemingly great 2018. The wing-centric restaurant chain was poised to grow an additional 10% this year. However, when 2018 rolled around and wing prices dropped, the company hit more of a slowdown than expected. Wing prices are like anything; they rise and fall due to a naturally limited supply and purveyors of wings have to account for this. Restaurants that focus on wings notice this the most. BWW even had to change their wing night in many locations temporarily from $0.50 wings to half-off orders in reflection of the then-skyrocketing price.
As the cost of wings evens out, many restaurants will resume their typical wing night deals such as BWW offering $0.75 wings on Tuesdays. Meanwhile, Wing Stop is still growing but slower than expected. The independent restaurants can offer competitive deals once more without putting unnecessary pressure on their bottom lines. Being flexible and adapting to the shifting climate is what is takes and anyone in the restaurant business knows that all too well.
