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Effectively Targeting and Marketing to Gen Z

Modern Restaurant Management

This new year is a perfect time to begin shaping a long-term vision and identifying opportunities for growing your restaurant or food services business over the next ten years. The sheer market size of Gen Z and their discretionary spending dollars should make restaurants and food services businesses sit up and take notice.

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What to Know About PPP Forgiveness Before Applying Through the SBA Portal

Modern Restaurant Management

the average monthly payroll of the company during either 2020 or 2019. Businesses in the accommodation and food service industries (defined as businesses with a NAICS code beginning with “72”) had a maximum loan size of 3.5x What are the qualifications for receiving a forgivable loan? average monthly payroll.

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YEA: Restaurants Showing Resiliency with New Openings

Modern Restaurant Management

New restaurant and food businesses are opening at pre-pandemic levels, with the number of new openings increasingly more in line with 2018 and 2019 volumes, according to third quarter data for the Yelp Economic Average (YEA) report. There were only 100 fewer new restaurant openings in September of this year, compared to September 2019.

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How Restaurants Evolve in the War for Talent in 2021 and Beyond

Modern Restaurant Management

In fact, pre-pandemic, the average length of time a worker stayed on the job in the food service industry was just under 60 days , with a new hire interview process taking just over 10 days (this has surely worsened in the last 12 months), compounds dramatically as even moderate turnover keeps this flywheel in motion.

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How the Pandemic Has Forever Changed the Way We Eat

Modern Restaurant Management

With many restaurants closed for in-person dining on and off throughout the pandemic, the food service industry shifted to delivery and takeout as a business imperative. According to SEC filings, food delivery apps experienced tremendous growth in 2020 earning a combined $5.5 billion from the same period in 2019.

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MRM Research Roundup: End-of-July 2021 Edition

Modern Restaurant Management

The comparable week in 2020 (to July 25), while in recovery compared to the height of restrictions, was still lower than the same week in 2019. Across all states, value velocity remains strongly positive compared to last year, with all key states now ahead of 2019. Sales velocity is now +34 percent vs July 27, 2019. California.

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Restaurant Startup Growth and Business Outlook for 2024

Modern Restaurant Management

It also ended with continued economic growth and low unemployment, making it a profitable, yet challenging year for small businesses in the food service industry. Twenty twenty-three, began with a banking crisis and ended with the highest interest rates America has seen in fifteen years. Census Bureau.