Feeling the Squeeze Yet?

Rising Labour Costs and Your Profitability   In six months from now minimum wage will increase by 22.8%, and then again 12 months later, raising your labour cost by a total 31.5% by January of 2019 from where it sits today. These increases will hit the hardest in the hospitality industry, as already shrinking profit…

Price and Profitability

Many operators have great menus, but the wrong pricing strategy. One of the best quotes I have heard is “if you are an inch off at takeoff, you can be a mile away when your reach your destination.” By starting with a pricing strategy that is on point today, it can deliver the profits you…

Out of Control Out of Business

Out of Control, Out of Business

High gross margins on beverages and food have covered up a massive amount of operating errors in businesses. Now—what with increasing costs, bargain seeking, and socially connected consumers—those margins are eroding, and operators are being forced to look closer than ever before at inventory control. What they’re finding is that the average bar/restaurant is losing…