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How to deliver the perfect pitch to investors

Posted by Doug Radkey on Jul 13, 2018 7:58:00 AM

Sometimes, in order to reach our dreams, we need a little help. Starting (or growing) a scalable and sustainable restaurant or hospitality business is not cheap. Many aspiring restaurateurs need a business partner or investment group to help reach their financial targets.

Here’s what we know: The average start-up restaurant, (in US dollars) can range from $295,000 to $660,000+ depending on a variety of factors, including of course the size of establishment, whether it’s a ‘from-scratch’ project, and the choice of overall concept.

No matter how you look at it, that’s a lot of money.

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Topics: Hospitality operations, Tips for owners

Why you should use online videos to train your hospitality staff

Posted by Chloe Papas on Jul 11, 2018 8:23:00 AM

More and more hospitality companies and managers are turning to online video platforms to train incoming employees or upskill existing staff members. There are many different reasons for the switch from face-to-face training to online, including ease of use and accessibility for all staff members, as well as cost and the incredible rise of video as the world’s favorite medium.

Video can also provide a layered and more rich experience for employees, who will appreciate individual self-paced learning. Want to know more about the benefits of training your hospitality staff using video? Take a look.   

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Topics: Hospitality operations, HR for hospitality venues, Tips for hospitality managers, Hospitality training

7 tech-savvy ways to improve your restaurant sales

Posted by Gary Hoover on Jul 5, 2018 7:49:00 AM

The tech wave has already transformed the hospitality industry in numerous ways, with app-based delivery services quickly muscling their way into the limelight. With everything from ribs to fried rice available at the touch of a button, it's become increasingly difficult to bring people into brick-and-mortar restaurants where incremental sales and trainer servers can increase check averages exponentially.

Rather than fighting against automation, eateries can use digital innovation to attract new customers, improve customer service and boost overall sales. Here’s how.

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Topics: Hospitality operations, Tips for hospitality managers, Tips for owners, Hospitality trends

How to write a business plan for your hospitality venue (that works)

Posted by Jake Lester on Jul 4, 2018 8:14:00 AM

At the start of any business venture, there needs to be a plan for how it will move forward. A business plan is necessary for you to determine whether the investment will be successful or not, and it serves as a road map for developing your hospitality business.

It helps you focus on the goals you set forth while establishing your business. If you are looking for investors, a business plan proves to them that you have done your homework and have a realistic idea of how to make your business successful. 

It’s also one of the first steps to the growth. But what exactly should a business plan include? Here are some of the areas it needs to cover.

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Topics: Hospitality operations, Tips for owners

A quick guide to grow your restaurant on a tight budget

Posted by Doug Radkey on Jun 13, 2018 9:20:40 AM

Growing a restaurant on a tight budget in a tough economy is a challenging business. Margins are tight; plain and simple.

There's a good chance you may be left scratching your head wondering how you can grow your restaurant without making a significant dent to your bank account. It can be done, it just starts with a smart mindset.

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Topics: Hospitality operations, Tips for owners

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