Immediately Effective Tips & Tactics – 51-60
June 22, 2009 by Jonathan Munsell
Filed under Restaurant Financial Management
This is the 7th post in a number of posts I will be providing to offer cost effective tips and ideas for your restaurant biz.
Included Categories:
1. Food Costs and Kitchen Management
2. Bar, Cellar and Beverages
3. Packaging, Paper and Consumables
4. Cleaning Costs
5. Labor Costs
6. General & Administrative
7. Utilities
8. Repairs and Maintenance
9. Event Management
10. Safety
11. Equipment and Smallwares
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Stay tuned for post #8.
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Industry Groups Laud Obama’s Small-Business Plan
March 18, 2009 by Jonathan Munsell
Filed under Restaurant Financial Management
By Paul Frumkin, Nation’s Restaurant News
WASHINGTON (March 17, 2009) Two industry associations hailed President Barack Obama’s proposal to aid small businesses as an important initiative to help get the ailing economy back on track.
Officials of the National Restaurant Association and the International Franchise Association both applauded the administration’s push to make it easier for small-business owners to borrow money.
The president announced on Monday that the government planned to kick-start the frozen credit markets by acquiring $15 billion in securities held by community banks.
Calling small businesses “the heart of the American economy,” Obama said, “Less lending leads to fewer jobs and lower spending, which leads to less lending, a vicious cycle that delays our recovery.”
Beth Johnson, the NRA’s executive vice president of public affairs, said: “Our members are telling us they need credit, especially those looking to expand and create new positions. The president’s proposals should help restaurateurs and small-business owners across the nation succeed in this very challenging economy.”
IFA president Matthew Shay said the administration’s “direct intervention in the small business secondary loan market is the missing piece of the small business lending puzzle. The low level of credit available has made it difficult for many businesses to create jobs and help lead us out of this recession.”
In addition to injecting $15 billion into the credit market, the administration also said it plans to eliminate some borrower and lender fees on loans originated through its main loan program while allowing small businesses larger tax breaks on operating losses.
The program also would increase federal guarantees under the Small Business Administration’s 7(a) Loan Program.
“Expanding the flow of capital to the restaurant industry is a critical component of job creation and preservation,” Johnson said.
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Restaurants Offer Free Food, Discounts on Tax Day
March 14, 2009 by Jonathan Munsell
Filed under Restaurant Financial Management
If there’s little tax relief for you on April 15, the restaurant industry is at least stepping up with comfort food.
Tax day has become a big promotional day over recent years for brands from beer to bagels. More than ever this year, restaurants hope to get some relief for themselves by doling out freebies, promotions and discounts. The industry continues to contract as more people budget by eating at home. Real sales (revenue minus price increases) are expected to fall 1% in 2009 for the $566 billion industry.
“This is the most challenging period for the restaurant industry in several decades,” says Hudson Riehle, senior vice president of research and information services at the National Restaurant Association. “In this environment, operators really focus not only on cost management, but also stepped-up marketing and promotions in an effort to compensate for consumers’ tight cash-on-hand.”
Lower costs are good, but promotions and discounts get people in the door. “We have an opportunity to drive our business and see a bit of a spike,” says Gregg LeBlanc, director of marketing for seafood chain McCormick & Schmick’s, which is offering its seventh tax-day promotion.
Wednesday diners will get a $10.40 certificate for future use. There’ll be $15 to $20 entrees discounted to $10.40. And bar patrons can choose themed drinks, such as a pint of Samuel Adams Deduction Draft.
The P.F. Chang’s chain is keeping it simple with a 15% discount for folks who dine at its 193 restaurants on Wednesday.
“Given the impact this economy has had on Americans, we wanted to provide a stimulus package of our own,” says Rick Tasman, chief operating officer.
Food emporiums riding tax day for the first time with freebies on Wednesday:
- Free ice cream. MaggieMoo’s Ice Cream and Treatery will give away single-scoop servings to customers at 200 stores in what it calls an “e-cone-omic ice cream stimulus package.”
- Free sweets. Snack chain Cinnabon will give out Tax Day Bites, free bite-size cinnamon rolls usually known as Classic Bites, from 5 to 8 p.m. at its 700 outlets on tax day.
- Free tacos. At its 275 restaurants in the West, Taco Del Mar will run a promotion: “Taxes Suck. Tacos Don’t.” People can register at the Taco Del Mar website for an e-mailed coupon for a free tax day taco.
- Free gift cards. T.G.I. Friday’s will give Wednesday customers $5 Bonus Bites gift cards for food and beverage purchases of $15 to $25 and $10 cards for those who spend more than $25. Members of the 1,000-outlet chain’s frequent-customer program also will get double points.
By Theresa Howard, USA TODAY
© Copyright 2009, USA TODAY, a division of Gannett Co., Inc.
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