Chief executives from Fazoli’s, Twin Peaks and P.F. Chang’s offer strategies on raising prices without losing customers
Restaurants are under pressure to raise prices as commodity costs climb, but customers, reluctant to spend in these uncertain economic times, are likely to push back if their favorite menu items get more expensive.
Carl Howard, president and chief executive of Fazoli’s; Randy DeWitt, chief executive of Twin Peaks; and P.F. Chang’s chief executive Lane Cardwell shared their strategies for keeping margins in line without irritating their customers in a MUFSO panel moderated by Scott Taylor, chief operating officer of Baton Rouge, La.-based restaurant operator Last In Concepts.Read More
NRN award-winning chief executives discuss growth, healthcare reform and the future for restaurants
After several years of recession-fueled retrenchment, MUFSO attendees were focused on the future and a return to growth as they posed questions to top chief executives in the industry Tuesday at MUFSO.
The answers did not disappoint, as NRN award winners covered expansion strategies — and pitfalls to avoid — as well as hot-button issues like health care reform.
Panelists for one of the final sessions at the conference, and typically the most popular, included Golden Chain award winners J. Patrick Doyle, Domino’s chief executive; Don Fox, Firehouse of America chief executive; Steele Platt, The Yard House founder and chairman; and Steve Romaniello, Focus Brands chairman, as well as Ron Shaich, Panera Bread executive chairman and Pioneer Award honoree; and Phil Hickey, O’Charley’s chairman and Norman Award honoree.Read More
MUFSO chief executive panel discusses growth, change and staying true to a brand
Restaurant industry leaders today must focus on a balance between innovation and execution to continually move a company forward, while not losing sight of the elements consumers expect from a brand.
A panel of restaurant chief executives from Buffalo Wild Wings, Pizza Hut, Noodles & Co. and Sizzler International discussed the challenges and opportunities that exist today in a changing environment during a panel at MUFSO. Moderated by Bill Taylor, author and founder of Fast Company magazine, the session highlighted the biggest players in the restaurant industry offering advice on leadership and restaurant chain success.Read More
The union of social media and mobile phones has created an opportunity for restaurateurs to interact online with consumers like never before, according to The New York Times’ technology columnist David Pogue.
While many brands understand how to use social media to talk and listen to guests online, the next development step operators need to understand in order to increase their sales reach is smart-phone apps, Pogue told MUFSO attendees on Monday during his keynote presentation, “Web 2.0: Social Media and Other Tools to Help Business Reach Consumers.”Read More
National Restaurant Association wants law that shields small businesses from potentially harmful legislation strengthened
The National Restaurant Association has joined more than 150 other organizations in urging members of the U.S. House of Representatives to co-sponsor a bill requiring the federal government to weigh any regulation’s potential effect on small businesses.Read More
From a restaurant’s curb appeal to a customer’s exit, sales opportunities abound
The stock market keeps declining, unemployment remains stubbornly high and talks of a double-dip recession continue to permeate. Looking at consumer trends, many say they want to spend less, save more and are have become more fearful of the economic environment and their jobs.
What’s a restaurateur to do? Ignore it.Read More
14 Crappy Reasons
It’s common knowledge in the restaurant business that there are more than one million ways for a restaurant to lose money. At any given time, there are only three ways to make money -and those three ways are constantly changing. My purpose, the raison d’etre for these musings, is to remind you about the stuff that you already know about – but sometimes forget because you have so many frigg’n things on those frigg’n lists that you keep on paper or in your head.
There are always two or twelve more things that need doing and twenty or twenty thousand more dollars that need to be spent. This is our life: but often the big picture gets lost. Why are we here in this food establishment slicing and dicing and cleaning and heating and cooling? Let’s make a list of why we do it and why we got into doing this.Read More