Click here to read more<\/a><\/p>\n <\/p>\n Higher Costs, Higher Stakes.<\/strong> It\u2019s difficult, if not impossible, to pin down how many eateries closed during the pandemic stretch. Whether it was 80,000, 90,000, or a shade over 70,000. But what was always clear, regardless of final counts, was the weight fell harshest on independent restaurants\u2014about 10 percent closed in 2020 compared to 2.5 percent of chains. The reason for this wasn\u2019t complex or in need of crunched analytics. Tom Bene, the former CEO of the National Restaurant Association, once noted the average restaurant only had about eight weeks of cash on hand. That\u2019s not really an indictment as much as a definition of how different life is running your own business versus having the ability to tap $50 million from a credit revolver, as Shake Shack did during the depths of COVID. All said, though, beyond the landscape being smaller than it was, what is the frame of full-service restaurants rolling into 2024, with inflation and other pressing developments thrown in? TouchBistro recently released its annual State of the Restaurants Report to outline the top challenges and emerging trends defining the sit-down sector. About 600 full-service owners, CEOs, GMs, and area managers from across the country polled in for the survey. While 2023 was years removed from the dining room lockdowns and plexiglass headlines, it wasn\u2019t \u201cnormal,\u201d either. Overall inflation rates slowed a bit, but the cost to do business remained well elevated from pre-virus days. Couple that with a wary consumer at times, and profits in 2023 were even more stretched than usual for operators.<\/p>\n Click here to read more<\/a><\/p>\n <\/p>\n MONMOUTH COUNTY, NJ ITALIAN EATERY FOR SALE<\/strong><\/p>\n Monmouth County, NJ; Pizza-Pasta-Sandwiches-Salads; THAT’S IT! \u201cBRAND NEW, FULLY EQUIPPED, TURN-KEY” 1,700 square foot computer-serviced Italian eatery; high-profile location, minutes from oceanfront, Monmouth U and Medical Center; logistic problems compelling owner to sell at steep discount. Asking $295,000.<\/p>\n For detailed information contact Richard Santore, 732-531-4200.<\/em><\/p>\n <\/p>\n <\/p>\n We invite you to visit our website, where you will find all our current listing inventory, a library of helpful industry resources and a collection of client testimonials expressing their assessments of our work and our service within the restaurant industry.<\/em><\/span><\/p>\n A voice for our industry.<\/strong><\/span> If you find these weekly bulletins informative and beneficial, we kindly ask that you write a brief Google review providing a vote of your appreciation. Simply Google<\/strong> \u201cBielat Santore & Company<\/em>\u201d and when the company name appears click the button on the right to write your review or if you don\u2019t use Gmail, go to Google Maps, <\/strong>type “Bielat Santore & Company<\/em>” \u2013 Allenhurst, NJ<\/em> into Google Maps<\/strong>; scroll down and you will see an option to leave a review.<\/p>\n <\/p>\n <\/p>\n A B2C Checklist.<\/strong> Understanding your diner\u2019s requirements, preferences, and desires is the foundation for success in the modern restaurant industry. This industry seeks to develop a value proposition that speaks to its consumers and convinces them to dine in their restaurants. But precisely, how can you determine what customers want? How can you adjust your B2C marketing strategy to align with their needs and provide an elevated culinary experience? How do you manage your restaurant in a modern and efficient way? Understanding what people genuinely want is equivalent to discovering the key to long-term success. Businesses must remain ahead of the curve by checking all the correct boxes as customer tastes evolve at an unparalleled pace. We have compiled a list of factors based on extensive research on consumer psychology and behavior trends. You can craft a B2C marketing strategy that is interesting, relevant, and successful by following this checklist. Convenience is really what modern customers look for in a restaurant experience. People want service that is quick, easy, and hassle-free. It\u2019s critical to provide a seamless eating experience, which includes simple payment choices and online reservations. Using technology to facilitate contactless payments, online ordering, and quick table rotation can increase consumers\u2019 satisfaction and loyalty. Also, consider providing curbside, takeout, or delivery services in addition to flexible and quick ordering and delivery alternatives, including online, phone, or in-app ordering. Modern diners are diverse, astute, and perceptive. They are looking for personalized eating experiences rather than generic dining experiences. Leverage consumer data to learn about preferences, dietary restrictions, and favorite foods. Implement personalized suggestions, loyalty programs, and special incentives to make each diner feel appreciated and understood. Brands can leverage email marketing, CRM, and AI technologies to send tailored and targeted content, promotions, and suggestions to their customers across numerous channels and touchpoints.<\/p>\n Click here to read more<\/a><\/p>\n <\/p>\n Implement a thorough quality control process <\/strong>Already one of the largest sectors of the global economy, the food and beverage industry shows no signs of slowing down. In fact, according to the Business Research Company\u2019s 2023 Food and Beverages Global Market Report, the global industry\u2019s market size grew over 7.3 percent from $6,729.54 billion in 2022 to $7,221.73 billion in 2023 in one year alone. Given its expanding market share, it\u2019s become increasingly critical for businesses to plan for and be aware of some of the industry\u2019s greatest risks of disruption. With more potential challenges than ever to account for, leaders in the food and beverage space must approach challenges proactively to avoid adverse impacts to operations, reputation, and profitability. Here are effective ways that some of the most common industry risks can be mitigated. It\u2019s absolutely necessary for companies to be rigorous about following strict quality control practices throughout the supply chain. This is because food and beverage contamination can lead to significant health risks for consumers and the potential for costly legal battles down the road. Not to mention a tarnished brand reputation that can have negative impacts on consumer loyalty for years to come. Failing to mind quality and food safety measures can also lead to large-scale product recalls that wreak havoc on the financial health of a company. To avoid these consequences, food and beverage businesses should be enforcing a series of protocols to ensure quality control. Through frequent facility inspections, product testing, and production assessments, management should be able to identify risks to food safety like improper temperature control and cross-contamination concerns before they pose a risk to consumers.<\/p>\n Click here to read more<\/a><\/p>\n <\/p>\n Right Now. <\/strong>Restaurant menus can be surprisingly revealing. Sure, they\u2019ll tell you what you can order at the hottest restaurant in your city on a particular evening. But they\u2019re also a time capsule of culture, reflecting the comforts, habits, flavors and values of an era. That\u2019s been true since the first American menus of the 1840s, which cataloged the opulent dishes at hotels catering to the ultrawealthy. And it remains so, well into the age of QR-code fatigue. Last year, as the New York Times Food team traveled the country to scout candidates for our annual list of favorite restaurants, we also set out to understand, more broadly, what defines eating out today. After years of plexiglass dividers, curbside delivery, masked servers and, yes, QR codes, one thing was immediately clear: Physical menus aren\u2019t just back. They have more personality than ever. We visited hundreds of restaurants of varying styles, cuisines, and price points \u2014 and left with 121 menus in hand. Together, they provide a snapshot of the distinctive new shape of dining right now.<\/p>\n Click here to read more<\/a><\/p>\n <\/p>\n But traffic may not follow<\/strong>: Chains from Taco Bell to Popeyes are pushing out more promotions for low-priced items, but analysts said they expect few improvements to traffic and margins. While 2023 was the year of fast food price hikes, with chains like McDonald\u2019s and Wendy\u2019s boosting prices to compensate for rising operational costs, 2024 is likely to be the year of value. BTIG expects value menu offerings at restaurants to increase this year as fast food chains seek to drive traffic, which has been down since 2022. Gravy Analytics pointed to a consumer preference for fast casual restaurants, which offer better ambiance and more varied menus, among the reasons for the traffic shift. Fast food chains also increased prices at a faster pace than full-service chains during this past year, and some, including McDonald\u2019s, started to see a slip in low-income traffic in early 2023. BTIG pointed to several national advertising campaigns \u2014 including Pizza Hut\u2019s $7 Deal Lovers menu, Burger King\u2019s $2.99 wraps and Popeyes\u2019 $5.99 wings offering \u2014 as evidence of a push to promote more discounted offerings. In January, Taco Bell updated its Cravings Value menu with six new items. The QSR segment isn\u2019t the only restaurant increasing menu promotions. Nearly half of restaurant operators plan to provide more special offers this year, and 20% are adding more affordable menu options, per a Popmenu survey of 461 restaurant operators. The success of these campaigns aren\u2019t guaranteed, however, and chains have yet to see industrywide changes in low-income diner traffic. They also come at a price.<\/p>\n Click here to read more<\/a><\/p>\n <\/p>\n Made for a rough 2023. <\/strong>From inflation and soaring rents to increased labor costs, most businesses were hit by at least one big challenge during 2023. Restaurants were hit by all of them. \u201cSomeone made a good point: They said everybody’s a good captain when the waters are smooth. But there\u2019s turmoil, and then the economy goes bad, and you find out how well you’re operating,\u201d said Kennan Shah, co-owner of Arpeggio Grill, a Mediterranean restaurant in Austin, Texas.? After a year of that turmoil, Yahoo Finance reached out to several family-owned restaurants to find out how they overcame their biggest obstacles \u2014 and what lies ahead. Laurence Tucker, whose family owns Sun Rey Cafe, a restaurant in Chicago, said he had to raise prices four times in the last 18 months. Price increases for potatoes and eggs, among other ingredients, gave him no choice. \u201cIf you don\u2019t jump and change that quick, there\u2019s no way you can recoup \u2026 Then you’re just giving away all of the ingredients,\u201d he said. The solution, said Greg Azzollini, co-owner of Paul and Jimmy\u2019s, an Italian restaurant in New York City, is small price hikes. \u201cI have some customers that come in three or four times a week. So, if I increase the prices too much, I don’t want to scare them away. So, I just did it a little,\u201d he said.<\/p>\n Click here to read more<\/a><\/p>\n <\/p>\n Keeping your restaurant safe from fires. <\/strong>As a restaurant manager or owner, you are aware of the dangers fire presents to your business. Restaurants are prone to fires due to several reasons including grease build up, gas leaks, electrical fires, and cooking mistakes. According to the latest data provided by FEMA, an estimated 5,600 restaurant fires are reported to local fire departments each year resulting in injuries, death and over 100 million dollars in property damage. So, understanding your risks and how to prevent fires is critical in running your restaurant.<\/p>\n Click here to read more<\/a><\/p>\n <\/p>\nThe State of Restaurants in 2024<\/h3>\n
Bielat Santore & Company – Restaurant Industry Alert<\/strong><\/span><\/h3>\n
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\nWhat Consumers Want?<\/h3>\n
How F&B Companies Can Mitigate Some of the Industry\u2019s Biggest Risks<\/h3>\n
The Menu Trends That Define Dining<\/h3>\n
Restaurants are Cranking Up Value in 2024<\/h3>\n
Restaurant Owners Say Price Hikes, Labor Costs and Other Woes<\/h3>\n
Did You Know?<\/h3>\n
Employee Tip<\/h3>\n