#restaurant-industry

#restaurant-industry

"We had signed the lease in 2007... quite an expensive lease, which was a regular lease at the time," the chef tells Katie Byrne on the latest episode of the Money Talks podcast. "It was about €125,000 a year rent for the space. We signed that with personal guarantees - we were a bit naive going in, we kind of said, 'ah yeah, sure we'll just sign whatever we need to sign'. And then the crash happened and it was... yeah, it was difficult."

McDonald's, Burger King, and Olive Garden have all recently unveiled discounted menu offerings as low- and middle-class consumers have been more loudly signaling that they are feeling pinched by inflation and anxiety about a weakening jobs market. IHOP's new nationwide, everyday $6 value offering ($7 in some pricier markets) features four breakfast meals, ranging from a ham-and-cheese omelet that's paired with buttermilk pancakes to scrambled eggs with cheese and hickory-smoked bacon and served with hash browns.

I come from a restaurant family. My grandparents opened Henry's Hunan-the only Hunanese restaurant in the city at the time. Chinese food in San Francisco was largely American Chinese or Cantonese-inflected, so it was unusual to have this different region represented. I spent childhood Saturdays at the restaurant, making Shirley Temples, and helping seat people. I waited tables in college but never saw a career in the restaurant industry. I then worked in documentary film for many years.

After seven years as a senior leader at Taco Bell, Julia Stewart joined Applebee's as president in 1998. She left after three years when she was denied a promotion to CEO, she says, despite being promised and earning the role - during her tenure, company and franchise sales skyrocketed, and so did the stock price, per Fortune. Soon after the snub, she joined IHOP as chair and CEO in 2001, per LinkedIn.

I know how damaging it can be when new regulations target one industry while leaving others untouched. It's especially disheartening because the majority of owners are immigrants who already live with the daily fear of raids and growing hostility toward our communities. As someone who's lived the journey from dishwasher to business owner, I'm urging the board to recognize that further targeting local restaurants is unjustified, and to reject this proposal.

"On average, independent restaurants make 3-5% profit margins, and that's on good days," McBride says. "You are getting into this business because you truly believe in hospitality."

Under the Employment (Allocation of Tips) Act 2023, 100% of service charges collected in a venue must be shared among workers in a fair and transparent way, and employees have the right to know how tips are allocated and distributed.

Every Friday from 11am to 5 pm, customers can order off the Taco Love menu and pay anywhere from $0 up to $10. When a customer pays the full price of $10, TATO will give a free meal to someone in need in The City.

Spending data indicates that, despite consumers' belief that they are dining out less to save money, restaurant spending per household actually increased 2.1% between March and June.

Rubio's Coastal Grill has faced significant decline since 2017, filing for Chapter 11 bankruptcy twice, with a challenging economic environment impacting its operations in California.

The challenge of opening an Indian restaurant outside India is to balance authenticity and broad appeal, navigating a path between genuine flavors and business profitability.

The Four Horsemen has carved out a niche in Brooklyn’s competitive dining scene with its focus on natural wines and a welcoming atmosphere, appealing to both customers and staff alike.

The House plan lets workers deduct all reported tips from their taxable income, while the Senate version sets limits of $18,500 for individuals or $25,000 for joint filers.

The difference between those who succeed and those who don't often comes down to how they handle this criticism and whether they can stay focused on their vision.

The closing of Gale Street Inn is being used by critics of Mayor Brandon Johnson to argue that getting rid of the tipped minimum wage is detrimental to the restaurant industry.

Your competitive advantage isn't just what you think makes your restaurant special-it's what your target customers believe makes you irreplaceable in their lives.

"We were in a position of just reacting and in a state of shock because we didn't know how to respond accordingly," said Valencia, who manages a predominantly Asian and Latino staff.

The daunting reality of the restaurant industry means many establishments, particularly non-chain ones, operate on borrowed time, making each visit potentially your last.

By developing signature sauces that transform existing ingredients, chefs are creating new, craveable dishes without completely overhauling their inventory or kitchen operations.

I couldn't have an entrée over $9... this was a situation where tight restrictions bred ingenuity, as his work caught the eye of a critic.

"There were seasons in the past where we definitely needed to bring in outside input. We needed voices. We needed new ideas," says Canlis.

TATO's 'Taco Love' special features a two taco plate with sides and allows customers to pay what they can, supporting the community amid restaurant struggles.