BUSINESS: 5 Smart Tips to Grow Your Restaurant with Limited Resources
This is an industry where new businesses are popping up at every corner, but where restaurants are also going under due to the sheer pressure of their competitors. The main issue owners face is the lack of available funds to expand safely. Running a restaurant requires constant financial investments, which is why today we will be going over some smart and affordable tips that will allow you to grow your business with limited resources.
DID YOU KNOWS…
Who’ll Get SEC Football?
CBS has dropped out of the SEC football negotiations, opening the way for ESPN/ABC to take over in 2023. According to sources, the SEC is slated to make between $250-$300 million in the new deal. The SEC has been a mainstay of CBS college football coverage since 1996.
Chopping Broccoli… or is Broccolini?
Here’s a fun DKY to share with your guests. Do they (and your staff) know the difference between broccolini, broccoli rabe, and Chinese broccoli? This post on Eater breaks down each for you. Sounds like a cool bit of info to post on social to educate your guests!
Cocktail Trends of 2020
With 2019 wrapped up, what does 2020 bring for the world of cocktails? Vinepair asked 15 bar professionals what they think will trend in 2020. They give their insight into everything from returning to the basics and crafted non-alcoholic drinks to coffee cocktails and more.
LET THE PANDERING BEGIN
Why it matters to you: Joe Biden thinks McD’s should be unionized.
The Fight for $15 held a pro-union rally in Los Angeles this past week and Joe Biden stopped by to deliver his thoughts on the current state of the restaurant economy. “You are victims of power, a significant amount of power,” Biden told McDonald’s workers and other hourly employees yesterday, according to an account provided by the Fight for $15 and Union. “There’s only one way to fight that power [and that] is with more power. And that’s union power. Unions are required.” It appears the Fight for $15 has added union organization to their resume with this event. The irony is that McDonald's noted in a statement that it does not oppose an increase in the minimum wage, and already pays more than the federally mandated minimum of $7.25. They further said, they recognize the individual’s right to choose (or not choose) to join a labor organization.
Of course, this is a clear battle line being drawn between employees and employers regarding wages and organizing. We just wonder that if McDonald’s wasn’t averse to paying a living wage, then why don’t they? Their competitors would be forced to follow suit and likely it would deliver them real goodwill. Well the answer is that McDonald’s, like most large restaurant organizations, is owned by both the company but also its franchisees. They might have a different opinion about cranking up wages in, say, Oklahoma or Tennessee where the cost of living is markedly less. In fact, the whole Fight for $15 fails to address this, to its detriment, in our humble opinion. The argument should be for a living wage and not a monolithic number. For example, $15 doesn’t get you a place to sleep and food in NYC; shouldn’t they be fighting for a much higher wage to make workers there achieve a living wage? It’s time this conversation about wages met reality and maybe had a real conversation.
[Source: Restaurant Business Online]
MAKING IT MOBILE
Why it matters to you: Mobile payment is ready for you; are you ready for it?
You really can’t get in line at a Starbuck’s or have lunch at an Uno Chicago Grill without seeing some form of mobile payment. With the pervasion of the EMV chip already completed, we now find ourselves facing the next wave of payment options that guests will expect as the New Year approaches. In order to manage this wave, we are suggesting you read this primer on the Toast POS that focuses on explaining the available forms and elements of mobile payment. It begins by assuring you that mobile payments are as secure as any form of payment, but it specifically explains the differences between EMV and NFC (near field communication) as methods for transmitting payment info. From there, it explains why consumers (and consequently POS providers) are shifting their focus onto mobile payment.
We have often covered mobile payment systems and realize that only now are consumer appetites for the convenience sufficient to force the technology forward. To start, mobile payment is a far more efficient way to collect guest tariffs and process them. American Express asserts that mobile payments are 63% faster than cash and 53% faster than processing a traditional credit card transaction. There are other benefits that arrive with mobile payments, like increased guest loyalty and repeat traffic. Once a guest knows they can pay so easily at your restaurant, they are more likely to visit again. Given that the reportedly worst aspect of full service for guests is paying their check, this should come as no surprise. So, let’s make 2020 the year you at least entertain mobile payment. Read the blog and get yourself started on this already established technology improvement.
[Source: Toast POS]
