Restaurant managers tend to shift the blame for high food costs to their suppliers, while ignoring the fact that waste, brought on by mismanagement on their own end, is often a bigger contributor to this problem. In a recent article from The Restaurant Expert, David Peters offers some advice for reducing food cost via a…
The Tax Cuts and Jobs Act (TCJA) is the largest piece of tax reform legislation in the last three decades. While its full impact is yet to be felt in a number of areas, what’s obvious is that this overhaul of the U.S. tax code will have a far-reaching effect. There are a number of…
When you start making calculations for your 2018 tax bill, make sure you consider this new rule that limits interest deductions for businesses that finance their operations with loans. Under the tax reform law passed late last year, the deduction for business interest is limited to 30% of the company’s taxable income beginning in 2018….
Strategies for cutting labor costs has long been an area of interest in the restaurant industry. David Peters, founder of The Restaurant Expert, recently published some advice on maximizing profitability by controlling labor costs in your restaurant. He recommends the following: Don’t overschedule – Though you may be tempted to keep lots of staff around…
It’s easy to begin a new year with high energy, but not so easy to maintain it as time progresses. A recent article by Donald Burns, published on the Toast blog, offers some tips for getting back on track with your 2018 restaurant action plan. Burns gives the following advice: Re-evaluate your standards—and then raise…
Rapid innovation and evolution in the hotel industry has many hoteliers wondering what they need to do in order to keep up and excel in this new environment. In a recent article for HospitalityNet, author Magnus Friberg offers some advice for keeping ahead of the curve. Get Creative – Brainstorm about what sorts of non-traditional…
Technology is evolving rapidly and affecting more and more industries each day—and restaurants are no exception. A recent article for Fast Casual discusses the advice of Robert Grimes, president and CEO of the International Food & Beverage Technology Association, who suggests that restaurants should be considering when and how to implement the following technologies: Robotics…
Food waste is a major, and growing, concern throughout the world. For restaurant operators, it is a concern due to its impact on the bottom line, in addition to the environment. So what steps can fast casual restaurant operators take to make a difference and reverse this growing problem? Ryan Hildebrand, a product manager for…
Restaurant valuation is a difficult and complex task. Most restaurant valuations are not calculated by the same “fair market value” measures used for other businesses, due to the industry’s consistent inaccuracies in accounting and reporting. In a recent article for Modern Restaurant Manager, author David Sederholt introduces his method for doing determining the value of…
The restaurant industry has experienced a fundamental shift: the role of major casual-dining brands as tastemakers and trendsetters has been severely diminished, while smaller, local operators have seen a large boost in influence and appeal. Nancy Kruse, a menu trend analyst, offers the following suggestions for what smaller operators can teach big chain restaurants: Strive…
