Up until about 2016, cash has always been king. But now it looks like the king may be ready to retire his crown. Over the past couple of years, the trend of restaurants going cash-free, has been gaining speed. It has been a slow revolution that started with smaller business, in places like New York and San Francisco. But now, early adopters like Sweetgreen, Eatsa and now Tender Greens. This has now gained the attention of large restaurants and chains like Argo Tea, Union Square Hospitality Group, Firehouse Subs and most notably, Starbucks. So what is driving this trend? Analytics. As more and more chains are trying to boost speed of service and throughput, the casualty in all this is cash.
Are your events a point of pride or a point of contention within your restaurant? Join Ryan and Jeremy as they welcome Jonathan Morse, Founder and CEO of Tripleseat. Tripleseat’s all-in-one platform streamlines the planning process for restaurants and venues, and is the first web-based system created by specifically for former restaurant industry planners. This is one that you don’t want to miss! Learn more about Tripleseat at www.tripleseat.com.
There are advantages to being a chain restaurant versus an independent establishment: chains can offer customers lower prices, utilize established brand recognition & equity and activate larger resources through the parent company. However, customers have started to care less and less about these advantages and tend to pick smaller, independent restaurants. Be aware that price is NOT the main criteria when it comes to picking a restaurant. Customers search for a menu that is more unique and service that is more personal and friendly. According to Technomic’s study in 2016, all consumers groups, except Gen X, are choosing independent restaurants at least 10% more frequently. And that trend is not stopping, especially now in 2018. For that reason, chain restaurants are having
Sure, we all know that days like Valentine’s Day are great days for restaurants to make money, but can they also spell disaster? Join Jeremy and Ryan as they chat about the hidden benefits and pitfalls of these special event days!
Any restaurant owner knows how frustrating it is when they take the reservation and the customer doesn’t show up. It means revenue loss and an empty seat. Especially, when that seat could have been occupied by paying customer. To combat this problem, some restaurant owners have decided to say do away with taking reservations. Starting in New York somewhere between 2009 and 2010, this trend has gained a steady following. So, how risky is it to adopt a “no reservation” policy? To put it bluntly, you must be prepared that some customers will absolutely hate this policy. Since this is a relatively ‘new’ trend, the customers that you will likely alienate are Baby Boomers. But, you have to know that losing a