Controlling Costs
Hunker Down or Market Your Restaurant – Surviving a Recession
In 1981 the interest rates on home loans ballooned to 15 to 18%. Savings and loans were going under and it was common for an apparent healthy financial stalwart of the community to suddenly announce they had been acquired or in some cases, were closing their doors. Virtually every home sold, if any, was financed [...]
Restaurant’s Answer to Economic Woe’s Dangerous!
A recent article in the Detroit Free Press scares me. The subject was the economy and the struggle we restaurateurs are having with the perfect storm of negative conditions impacting the bottom line. The author states that food costs have gone up 18.4% in the last eighteen months, minimum wages have gone from $5.15 to [...]
Do We Lose Focus? Restaurant Profits Aren’t Dirty Words
Occasionally, we all lose focus of our goals. A couple of recent events have reminded me it is easy to forget that at the top of the list of goals, things to do and immediate tasks must be producing a profit. The events that spurred me to post this article were:
I recently reviewed a business [...]
Let’s Legislate Everyone Skinny, Healthy and Wealthy
Let’s pass a federal law that says everyone must be a certain weight, must be healthy and have all the money they need to live comfortably. Sounds Orwellian, but solves many social issues. Impossible you say, don’t be so sure.
The restaurant industry, already in an economic tailspin from escalating food costs and fewer diners, is [...]
Restaurant Management – Survival Mode for 2008
Want more bad news for the day? Just Google “closed restaurants”. There are list after list of closed operations from around the country. It’s sad.
The good news is, if you have made it this far, you can keep re-inventing your restaurant during this train wreck of economic conditions to make it stronger. Have we hit [...]
