As the world we live in begins to modernize exponentially, cash transactions are becoming less of a necessity as the consumer base shifts towards digital and even mobile methods of payments. In many developed countries, forms of cash payments are almost completely gone as they have found other alternatives to pay for products and services. […]
Top Ways to Avoid Unexpected Restaurant Costs
Running a restaurant is much more abstract than it may appear from the outside looking in. Known as an industry that relies on the slightest of margins, restaurant owners and managers must stay aware of all spending and costs associated with running their business. While some unforeseen restaurant costs may be unavoidable, there are many […]
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Third-Party Delivery for Restaurants will Cease to Exist as We Know it.
This Music Will Stop. I realize this puts me outside conventional wisdom, but I do NOT believe that the third-party delivery model, as we know it, is sustainable. Here is why: The third-party delivery providers don’t seem close to profitability. GrubHub took its perfectly good business model and messed the bed getting into delivery. Uber lost […]
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Top 5 Overlooked Reasons Restaurants Fail
The restaurant industry is notoriously known for being difficult. Through a recent study conducted by Ohio State University, it was concluded that 60 percent of restaurants close within the first year of opening and 80 percent of restaurants close within the first five years. In order to avoid this trend, it is important to stay […]
Advantages of a (POS) Point of Sales System
As the technological world continues to make tremendous strides over night, don’t allow your restaurant or business fall victim of falling behind. Though you may view them as expensive or unnecessary, there are clear and significant advantages towards the incorporation of Point of Sales Systems (POS) in your business. Accuracy A POS system allows for […]