Published August 31, 2017
Running a restaurant is one of the hardest businesses that you can have. Many fail in the first year for various reasons. There are four stages to successfully funding restaurant growth. First, you need to make sure that you have a concept and a model and can see where you want your restaurant to go. Early growth is when you are starting to expand. You want to do so slowly so that you can keep up and it doesn’t get away from you.
- In the start up stage many new restaurateurs look to angel investors, or family and friends for investments
- If the business has grown, an owner may choose to buy out an investor at this point
- After years of success the operator may consider either more growth or exiting the business
“At this stage of growth a restaurant operator is likely to have ambitions that need an injection of capital. That might be a refurbishment, a limited roll out, or they may be looking to take some money out of their business.”
Read more: http://mobile.bighospitality.co.uk/Business/Four-stages-to-successfully-funding-your-restaurant-growth
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Published August 31, 2017
Many factors contribute to Britain’s tourism economy but all of them seem to be having a net positive effect especially when it comes to hospitality business. Not only are many overseas tourists coming along for a vacation but so are many in the UK. Brexit seems to have had an impact on the number of UK residents that are opting to have a vacation in their own country rather than traveling around the world. The weak pound has also led to many overseas tourists to flock to the UK. Overall it is a good time to be in the hospitality business!
Read more: Britain’s “thriving” tourism economy gives sector a boost
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Published August 31, 2017
Chef Marcus Samuelsson. Has recently partnered with US Foods for a project that will help restaurant operators bring new and interesting flavors on the menus. The product lineup, known as the 2017 Fall Scoop, offer products with eclectic flavors based on the chefs interesting history. Samuelsson prides himself in making products available for these restaurants that are tasty as well as trendy. A sampling of these products and their descriptions can be found in this article.
Read more: US Foods Launches Partnership with Chef Marcus Samuelsson
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Published August 31, 2017
Every business with food service needs to have a plan in place for a food crisis. When a food crisis happens it is very important to find out why. Make sure you review procedures with employees. Next, you need to regain the trust of the community. Make sure that you do not get caught in the negative loops of social media. Apologize sincerely and let the public know how it happened and what you are doing to fix it. With the right steps, trust can be regained.
- Foodborne illness was heavily spotlighted in an outbreak that nearly put the food chain Jack in the Box out of business in the 90s.
- Aside from foodborne illness striking, a food safety issue could arise from an allergic reaction, or from a failed inspection.
- Should the worst happen and clients are sickened, trace back to how it happened, apologize immediately and without equivocation, and train, or retrain, all employees on safety measures.
“It’s key to develop a plan that outlines how to manage a crisis, minimize damage, and rebuild to be stronger and safer than ever.”
Read more: https://www.qsrmagazine.com/outside-insights/how-prepare-and-recover-food-safety-crisis
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Four stages to successfully funding your restaurant growth
Running a restaurant is one of the hardest businesses that you can have. Many fail in the first year for various reasons. There are four stages to successfully funding restaurant growth. First, you need to make sure that you have a concept and a model and can see where you want your restaurant to go. Early growth is when you are starting to expand. You want to do so slowly so that you can keep up and it doesn’t get away from you.
Key Takeaways:
“At this stage of growth a restaurant operator is likely to have ambitions that need an injection of capital. That might be a refurbishment, a limited roll out, or they may be looking to take some money out of their business.”
Read more: http://mobile.bighospitality.co.uk/Business/Four-stages-to-successfully-funding-your-restaurant-growth
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