Business Management

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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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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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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Ways to Use Menu Design to Boost Restaurant Sales

menu design

Menus are the most common way restaurants communicate their offers to customers. Boosting sales for your restaurant can be done in many ways, both in selling a larger number of customers and by selling your most profitable items first. We are here to provide a guide to how to use your restaurants printed, online, and board menus to better boost your restaurant sales using simple menu design.

Why Menu Design?

You’ve already decided on a menu your customers will like and an atmosphere that best attracts people and makes them feel at ease.

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5 Ways to Socially Distance At Your Restaurant Without Losing Business

restaurant management

Being a restaurant owner has never been so difficult. Due to the pandemic, restaurant management is finding themselves looking for new ways to run their shop without losing business. After months of being shut down the new normal has set in and in order for restaurants to survive they need to be prepared.

Besides wearing a mask while in public, staying six feet apart is the law. So how do you run a restaurant while applying the social distancing guidelines and stay in business?

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5 Franchises that are Seeing Success During the Pandemic

franchises

Since the pandemic started many people are preferring to stay home instead of going out and spending money. It would seem that this would cause many businesses to fail, however, that has not been the case.

If you are worried about your franchise or are thinking of buying one during the pandemic, you want to be sure that you know which ones are successful right now. Remember that franchises have tried and true business models to follow, which also helps them survive in tough situations.

These are the 5 types of franchises that are seeing success during the coronavirus pandemic.

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5 Ways to Stay in Business During a Quarantine

stay in business

You may have noticed a drop in your in-store sales lately. You are not alone, one-fourth of all small business owners say that they are selling 42% less than before. Keeping your customers’ attention can be hard when they are stuck at home.

Fortunately, there are steps you can take to stay in business during the quarantine. Here are 5 easy measures you can take today!

1. Stay Connected Online

One of the best steps to take to stay in business is to reach your audience online.

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