Lucas Tyler’s Post

Sometimes financial emergency's occur that can put your employees into a position to make a poor choice such as not coming to work or perhaps skimming sales from the register. Why not offer your employees an option which gives them peace of mind knowing that if a need arose, they could access their pay early. It can't hurt to learn more about this great benefit that many of your competitors may be leveraging. Curious? Use the link below to learn more.

Restaurants are feeling the heat of inflation as costs soar and customers tighten their belts. Here's how they can navigate the storm: Menu Adjustments: Optimize offerings to balance profitability and affordability. Operational Efficiency: Streamline processes to reduce overhead expenses. Customer Experience: Enhance service quality to justify price points and retain loyalty. Revenue Diversification: Explore new income streams beyond traditional dine-in service. Community Engagement: Build strong ties with the local community for support and patronage. Adapting to inflationary pressures is crucial for restaurants to thrive in today's economic landscape. #inflation

I would hazard a guess that all restaurateurs wished that all their operations were planned well in advance. Labour schedules signed off at least two weeks out if not four. Stock ordered based on clear demand forecasts that aren't subject to change. But unfortunately, that's not reality. There are times when in-the-moment decisions need to be made - especially when it comes to labour costs. What happens if lunch demand is much lower than expected? Do you send people home? Will that impact the evening service? These are questions that every operator will ask at some point. The key is to have a plan and tools in place to make these kinds of decisions. Do you have a clear view of daily labour percentages at head office level? Can GMs access their real-time labour costs vs actual sales vs planned costs and forecasts? Do you have strategies in place to negate lower sales expectations without sending people home? Confident decisions are made when data is given to the right person at the right time. Is your business prepared? #PerformanceOps #Forecasting #Realtimedata Tenzo - Restaurant PerformanceOps

Making in-the-moment decisions requires planning and preparation. Give your teams the tools they need to make the best possible data-backed decisions. Read all about same-day labour decisions in our latest blog ⬇️

Good signs for foodservice operators may be good signs for foodservice distributors and manufacturers:  Dominic Blakemore, CEO of Compass Group, said that the foodservice provider’s labor turnover rates have fallen over the past quarter. He noted that labor turnover rates are at pre-COVID levels. #foodservice #foodserviceindustry #restaurantindustry #restaurantsupply #fooddistributor #foodmanufacturing #foodmanufacturer #foodmanufacturers #foodmarketing https://lnkd.in/giExSvZq

As a percentage of sales, restaurants rely on labor more than other retail sectors, making the rise in wages particularly draining on profits, according to industry economists. It takes 12 employees to generate every $1 million in restaurant sales versus roughly three employees at grocery, general merchandise and clothing stores, according to analysis by the National Restaurant Association.

🌟 Hospitality professionals, have you felt the labor market challenges? With labor costs increasing, restaurants have no choice but to raise their prices, which is driving business further away. 🍽️ In this economic climate, optimizing food costs is more important than ever. 💵 With our platform, you can reduce your costs through streamlined inventory, finding better pricing, and robust analytics. 📊 Read the Wall Street Journal article about labor costs here: https://lnkd.in/dpZmF7XJ

The food service industry is projected to reach $1 trillion in sales this year, yet profit is becoming increasingly elusive for many local restaurants. Changing post-pandemic consumer preferences and rising labor costs have created a perfect storm for many restaurant owners. Our team at the Yale Undergraduate Consulting Group (YUCG) has dedicated the past 7 months to working with the City of New Haven and local New Haven restaurants to develop a post-pandemic business strategy. Yesterday, I presented our key insights and recommendations to the New Haven restaurant community via a city-wide webinar. This presentation kicks off the next stage in our project: working 1-on-1 with restaurants to help owners assess how our proposed strategy applies to their business. Here are two action items: 1. Frequent your local restaurants if you have the means to do so! There's a vast range of cuisines waiting to be explored, and you'll be supporting your local businesses while doing so. 2. If you are a restaurant owner in the New Haven region or know someone who is, reach out to me! YUCG is now providing pro-bono consulting services to help our local restaurants evaluate and revitalize their business strategy. Huge shoutout to the YUCG team Sophia Wang, Kennedy Stafford, Mak Nurkic Kacapor, Anya Nedungadi, and Richard George for working around the clock to deliver key insights for our local restaurant community. Finally, major thanks to Steve Fontana for making this collaboration with the city possible! #consulting #strategy #restaurants

Tipping is an antiquated custom rooted in servitude, the norm in the USA but largely absent in the rest of the world. More and more states and municipalities are abolishing sub-minimum wages and require all employees to be paid at least the full minimum wage. There is a disconnect with POS systems which ask guests for a gratuity, even where all employees are paid at least the full minimum wage. Far too many employers continue to encourage tipping, as a way to have guests subsidize prevailing wages. This is true even in foodservice establishment where there is no direct service, including takeout, third party delivery and counter service. Tipping should be abolished in the USA, and all employers should be required to pay at least the full minimum wage. In foodservice establishments where employers already pay their staff at least the full minimum wage, business owners should make it clear to guests and employees that tipping is not allowed. Nearly all QSRs and Fast Casual/counter service chains already do this as a matter of policy.