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As an entrepreneur, you’re well aware that even a solid business plan and a great product won’t protect you completely from unexpected downturns. Markets change, your costs can rise — and suddenly, you’re struggling to meet your obligations. This is when you may start noticing sales pitches from companies that offer a quick and easy solution to your stress. Here’s … Read More
Why Communication with your Funding Provider is Important
Good communication between two parties is always important, especially when dealing with sensitive topics—like money. It is important for both parties to be on the same page and in sync with each other to avoid any miscommunication. Business Owners that used to borrow from banks increasingly turn to alternative capital providers to fund their business dreams. These non-traditional providers allow … Read More
Why You Shouldn’t Pay for ‘Debt Relief’
As an entrepreneur, you’re well aware that even a solid business plan and a great product won’t protect you completely from unexpected downturns. Markets change, your costs can rise — and suddenly, you’re struggling to meet your obligations. This is when you may start noticing sales pitches from companies that offer a quick and easy solution to your stress. Here’s … Read More
Remaking the Restaurant Business Model: Tip Included
A “hospitality included” model is emerging and presents intriguing new option for today’s restaurateurs. Hospitality included creates a more equal pay environment for restaurant employees, while still keeping prices the same for patrons. Could this evolution have a positive impact on your restaurant’s bottom line?
Your Restaurant’s Online Reputation in the Age of the Internet
Fraudulent online reviews of restaurants are becoming even more widespread with the growing popularity of social websites. Paying for positive reviews may seem like a good strategy to manage your online reputation, but here’s why you should resist that temptation.
Your Restaurant and Mobile Marketing: A New Age of Customer Engagement
The instantaneous nature of texting and the average person’s need to be attached to a mobile device makes mobile marketing a viable option to increase traffic in your restaurant, drive up revenues, and find new customers while keeping old ones.
Tough Winter for Restaurant Owners – Sales Looking up for this Spring
After a harsh winter, same-store restaurant sales are seeing a rebound, although many still report traffic as a problem. Finding new ways to attract customers and drive restaurant traffic will help improve top-line growth and repeat business.
Complaints – Average Businesses Ignore Them. Exceptional Businesses Don’t
Customer reviews can make or break a business, especially when shared online on a public forum like Yelp, Tripadvisor , Twitter, or even Facebook. Almost 8 in 10 online Americans between the ages 18 and 64 agree that online reviews influence their purchase decision. This all sounds exciting until your business gets negative press.
Restaurant Expense Cuts That Cost You Customers
$1.8 billion. That’s the typical sales for the entire restaurant industry on any given day in 2013. That sounds like a lot of money doesn’t it. But as a restaurant owner or manager, you know the truth – restaurants are high-expense businesses. Full-service restaurants typically pull in margins of only 2-5 percent. According to the 2010 Operations Report by the … Read More