Remove 2023 Remove Food and Beverage Remove Inventory
article thumbnail

2023 Outlook: Trends and Challenges Restaurants Will See, Part Two

Modern Restaurant Management

Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. In 2023, we can anticipate businesses really focusing in on value and doing what they can to attract and retain both employees and guests. For part one, click here.

article thumbnail

2023 Outlook: Trends and Challenges Restaurants Will See, Part One

Modern Restaurant Management

Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. – Chris Adams, VP of Strategy, Oracle Food and Beverage. "As That said, staffing will continue to be an obstacle for the restaurant industry in 2023.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Eat, Drink and Be Merry: Properly Prepping Your Bar for the Holiday Rush

Modern Restaurant Management

Manage and Optimize Your Increased Holiday Inventory. The holidays bring an increase in beverage inventory, particularly kegged inventory for bars and restaurants centered around draft programs. Take a good look at your cooler now; clean out what doesn’t belong and prepare for the increase of kegs you anticipate.

Inventory 471
article thumbnail

2023 Reflections: The Year That Was in Restaurants, Part Three

Modern Restaurant Management

BrewLogix sees consumers of craft beverages moving from a “consumption creates the experience” mindset to an “experience creates consumption” mindset. Craft beverage consumers have evolved. They look for experiences that include craft beverages rather than viewing consumption as the end game.

article thumbnail

Expanding Your Business? Seven Tips to Improve Cash Flow to Fund a New Location

Modern Restaurant Management

Restaurant365’s State of the Industry Customer Survey shows that 60 percent of surveyed customers plan to expand their businesses in 2023 despite expected increased labor and food costs. By minimizing the menu options, a unit can limit the amount of inventory needed to order each week.

Inventory 474
article thumbnail

MRM Research Roundup: Thanksgiving Trends, Diner Optimism, and Holiday Spending

Modern Restaurant Management

While many operators struggled to keep expenses – particularly food and labor costs – under control, they also observed an increase in guest traffic and in profit margins, in part due to strong takeout and delivery sales. AI usage has also skyrocketed, primarily in the back-of-house.

article thumbnail

Food Cost Formula: The Secret to Higher Restaurant Profits

Lavu

Managing food costs is one of the most important factors in running a profitable restaurant. With rising ingredient prices and tight profit margins, understanding the food cost formula can make the difference between financial success and failure. What is the Food Cost Formula? Lets dive in!