Franco Aquino’s Post

I watched an interesting video the other day that got me thinking, and I wanted to share it. This video argues that McDonald's is more of a real estate company than a restaurant due to their profits from each segment of the company as a whole. With the rise of CosMc's as an attempt to capture a segment of the fast beverage market I think this video makes a compelling case for why McDonald's could be considered quite the real estate company. What are your thoughts? In retail, what can we learn from these types of things to move forward? #ICG #CosMcs #McDonalds #retail #realestate #fastfood https://lnkd.in/g7fjMwhW

The Secret to Restaurant Growth: It's All Connected Did you know only 3% of independent restaurants have 3+ locations? Here's why scaling is challenging, and how to overcome it: Think of your restaurant as a circle, where every element reinforces the others. For example: Consistency is key and comes from delivering the same great food and service each time. Consistency requires: - A great team with precise portioning and recipe adherence - Consistent ingredients To build a great team you need retention and training, which comes from: - Hiring right and retention, both requiring competitive wages - Ability to afford a training period To afford competitive wages and invest in training, a restaurant needs cash flow from profitability. To be profitable and increase cash flow: - Reduce the gap between theoretical and actual costs - This comes full circle: trained staff and precise portioning! Each element in the chain supports the next. When all components work in harmony, that's when restaurants thrive and expand. Some restaurateurs think if they nail down revenue, all will be forgiven. But it's not that simple. Are you treating your restaurant as an interconnected system? If not, it's time to start. #RestaurantGrowth #BusinessSuccess #Hospitality

How do you write a profit and loss statement for a restaurant? A restaurant P&L statement usually includes the following 5 main sections: 1*Sales Breakdown. 2*Costs breakdown: Cost of goods sold (COGS) 3*Labor Costs. 4*Operating Costs. 5*Net Profit or Loss.

Consistency is always better than Quality. This is why restaurants like McDonalds still exist. They serve agreeably terrible burgers. However, they are CONSTANTLY terrible burgers. So consumers know what they are getting. We as a society value that. Problems come when things are not consistent. My company recently helped a restaurant quadruple its Google Reviews, and for the most part, all 5 stars. Without fail, we got 1-star reviews when the restaurant lacked consistency on the operations side. Uniformity really makes a difference. The same is true throughout all marketing and business, consumers love when things are standardized and they know each experience will be similar to the last. So the takeaway: Be Consistent in your business. Take it a step further and be consistent in your life, and you will be unstoppable.

The chicken segment is one of the most dynamic and competitive among the large restaurant chains in the U.S. And while Chick-fil-A continues to dominate and Popeyes is taking over second in the rank, there has been significant movement in the rank among other mid-size leading chains over the last ten years.   It goes to show that in the restaurant industry, you can never rest. Leaders are waking up to the realization that if they’re not growing fast they’re dying slowly.   Outgrowing and outsmarting your competitors requires using the power of long-term thinking and a dynamic mix of internal and external talent.   #restaurants #chicken #strategy

With another restaurant bankruptcy filing this is probably a good time to highlight that we are likely in a restaurant recession, given the filings/closures and the oncoming value war. Tough market.

The Secret to Restaurant Growth: It's All Connected Did you know only 3% of independent restaurants have 3+ locations? Here's why scaling is challenging, and how to overcome it: Think of your restaurant as a circle, where every element reinforces the others. For example: Consistency is key and comes from delivering the same great food and service each time. Consistency requires: - A great team with precise portioning and recipe adherence - Consistent ingredients To build a great team you need retention and training, which comes from: - Hiring right and retention, both requiring competitive wages - Ability to afford a training period To afford competitive wages and invest in training, a restaurant needs cash flow from profitability. To be profitable and increase cash flow: - Reduce the gap between theoretical and actual costs - This comes full circle: trained staff and precise portioning! Each element in the chain supports the next. When all components work in harmony, that's when restaurants thrive and expand. Some restaurateurs think if they nail down revenue, all will be forgiven. But it's not that simple. Are you treating your restaurant as an interconnected system? If not, it's time to start. #RestaurantGrowth #BusinessSuccess #Hospitality

Dynamic pricing, the process of regularly adjusting the pricing of menu items to match the current level of demand, may sound like a headache, but just like your restaurant has peak times, so do food items and pricing should reflect this. Christine Johnson, COO at Le Duff America, will join a panel of restaurant execs at Restaurant Franchising & Innovation Summit 2024 to discuss why they’ve adopted dynamic pricing and its pros and cons. #RFISummit #restaurants #dynamicpricing #restaurantoperations

Restaurant loyalty is obviously a hot topic these days. But what do consumers actually want? And what features of a loyalty program incentivizes them to add an extra visit or two to a brand? Great story here from Joe Guszkowski, using our Restaurant Business Online/FoodService Director Online team as survey subjects. #restaurants #restaurantindustry #restaurantloyalty #restaurantmarketing

The Secret to Restaurant Growth: It's All Connected Did you know only 3% of independent restaurants have 3+ locations? Here's why scaling is challenging, and how to overcome it: Think of your restaurant as a circle, where every element reinforces the others. For example: Consistency is key and comes from delivering the same great food and service each time. Consistency requires: - A great team with precise portioning and recipe adherence - Consistent ingredients To build a great team you need retention and training, which comes from: - Hiring right and retention, both requiring competitive wages - Ability to afford a training period To afford competitive wages and invest in training, a restaurant needs cash flow from profitability. To be profitable and increase cash flow: - Reduce the gap between theoretical and actual costs - This comes full circle: trained staff and precise portioning! Each element in the chain supports the next. When all components work in harmony, that's when restaurants thrive and expand. Some restaurateurs think if they nail down revenue, all will be forgiven. But it's not that simple. Are you treating your restaurant as an interconnected system? If not, it's time to start. #Restaurant #Hospitality #growth