10 Ways to Manage Franchisee Innovation

franchisee innovation

All fast food restaurants have the iconic menu items that they’re known for. McDonald’s has the Big Mac, Burger King has the Whopper, and you can’t go to Pizza Hut and not get one of their signature pan pizzas.

While every place has its popular dish, side, or dessert, its menus go beyond their signature foods. One of the reasons many individuals decide to open a franchise is because they have a passion for food and want to share their delicious creations with the world.

Many tasty ideas have come from the minds of franchise owners, one of the most popular being the Filet-O-Fish from McDonald’s, which originated in 1962 after Lou Groen came up with the idea to boost slow Friday night business.

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How to Run a Business Competitive Analysis

business competitive analysis

In this age of constantly changing and pivoting business landscapes, it is important to keep close analytics of your competitors so that you can have additional insight into potential market movements and industry changes.

This means surfing their socials just isn’t enough anymore, you need in-depth, professional rundowns of their effect and potential within your market niche. Once you have this information, you need an effective plan to leverage it. This can help your brand stay a step ahead of the competition, and be better positioned to tackle various challenges.

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4 Ways Food Costing Can Boost Your Restaurant Revenue

food costing

If you own a restaurant, it’s obvious you’re more focused on money. How much is going in, how much is coming out, equipment costs, advertising costs, and so much more! However, there’s often a single trick that most restaurant owners don’t think of when it comes to money. This trick concerns the most important thing to a restaurant:

Food and food costs.

Most restaurants tend to focus on bulk costs. They know that 40 pounds of hamburger meat make a certain number of patties and that it costs a certain amount to buy every day. 

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What is Hotel Reflagging and What Are The Costs Involved?

hotel reflagging

Hotel Reflagging is when a hotel changes its brand. So a hotel that has always been a ‘Holiday Inn’ might reflag one day and become a ‘Hilton.’  Or the local Hilton might become its own independent hotel chain. 

To understand why hotels do this and the costs involved from these reflagging and de-flagging attempts, we must understand how hotels and their hotel chains work.

Before we get started, it’s important to understand that most hotels do have a flag outside of their buildings. In most cases, they fly the flag off their brand, but some hotels have national flags that signify that everyone is welcome in their building. 

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How NFC Technology for Restaurants Can Help Boost Restaurant Sales

NFC technology for restaurants

Everyone is looking for the best way to make some additional money – more so if they are in the restaurant business. While sales, new menu items, and a fresh coat of paint can quickly bring more people into your restaurant, technology can help too. That’s where NFC technology comes in.  NFC technology for restaurants is a great way to boost flagging sales and bring people into the establishment. 

But what exactly is this technology, and how do you make it work?

This article shows you how you can use NFC technology to bring your restaurant into the 20th century with some brand new customers.

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Why Almost Every Business Should Consider Themselves a Hospitality Business

hospitality business

The hospitality business is a type of business in the service industry that focuses on keeping people happy. Some of these businesses include hotels, restaurants, bars, and service agencies. However, most people argue that every single business is a hospitality business, and we agree.

However, before we defend this claim, it’s important to look at what a hospitality business is and why every single business is one.

What are Hospitality Companies?

The hospitality industry focuses on the friendly reception and entertainment of guests, as well as their housing.

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4 Surefire Reasons to Consider Business Growth Consulting For Your Hospitality Business

business growth consulting

Hospitality is an interesting field, because pointing to one skill and saying “That is the key to running a good hospitality business” is all but impossible. There is no one skill, no silver bullet to making your hospitality business work. It’s just far too complicated of an industry.

This is because hospitality is an alchemy—that is, both a science and an art. There is the artistic side of being a good host, as well as the scientific side of being a good businessperson.

That being the case, how does one practice in this field?

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The Beginners Guide to Starting a Franchise

starting a franchise

If you are a beginner in the world of business ownership, then you have probably considered one of two options: Opening your own business or starting a franchise. What is a franchise? Well, it is an extension of an existing business that you operate as if it’s your own.

Starting your own business involves developing your brand and your customer base from the ground up, all on your own. But with a franchise, you are tapping into another business’ existing brand and customer base.

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7 Emerging Franchises in 2021

emerging franchises

Franchises are a great way to start your own business while exposing yourself to less risk. Future business owners are looking to take more substantial starts as the pandemic forced some small businesses to close. This guide offers a few of the newly emerging franchises for future entrepreneurs to consider with their next venture.

Tony Luke’s

Tony Luke’s takes a slightly different approach to the cheesesteak you would traditionally find in Philadelpiha. Instead, Tony Luke’s offers roast pork and chicken instead of the traditional meats.

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How The Pandemic Has Affected Restaurant P&L

restaurant P&L

Restaurants have changed many elements of how they operate since the pandemic started. Stay at home orders, health and safety issues, and the economic fallout have forced many restaurants to take a new shape in order to make money to keep the doors open. We present a few changes and perspectives restaurants have started to take in order to stay afloat during the pandemic.

Food and Beverage

People go out to eat both to have good food and drinks, as well as to get out of the house and have someone else cook for them while they relax.

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