Recently, MarketMan announced our partnership with ChowNow to provide more ways for restaurants to cut online ordering costs. The connection and communication between ChowNow and MarketMan can substantially positively impact profitability and offer a quick return on investment for Operators. ChowNow helps independent restaurants grow with online ordering solutions for any stage. They’ve helped over 20,000 restaurants grow their takeout business while saving them $640 million in commissions. With ChowNow, restaurants can take unlimited commission-free orders from their website, social media, an ..read more

Effective employee scheduling is the backbone of a successful restaurant business. Ensuring that you have the right number of staff members available at all times can significantly impact productivity, customer satisfaction, and ultimately, your bottom line. This importance becomes particularly evident during critical periods, such as the holiday season when customer traffic surges and flu season when more employees call in sick. So, how can you ensure that you are never short-staffed without overstaffing? In this article, we will delve into 5 essential restaurant scheduling tips, focusing on ..read more

Owners and Operators of restaurants and bars typically lose sleep over the many challenges they face in hyper-competitive marketplaces, but profitability may be at the top of their “what keeps me up at night list.” What Is A Good Profit Margin For A Restaurant Or A Bar? About profit margins… but first a boring but necessary mini Econ 101 refresher course (sorry!): From Investopedia’s What Is Net Profit Margin? “The net profit margin, or simply net margin, measures how much net income or profit is generated as a percentage of revenue. It is the ratio of net profits to revenues for a company or ..read more

Fair warning, Father’s Day is Sunday, June 18, 2023. Consumers will spend $22.9 Billion to celebrate Father’s Day this year. Up from $21.4 last year. It’s a major day for restaurateurs – usually one of the top 5. It’s no Mother’s Day, in which consumers spent a record $35.7B in 2023. But it’s a potentially serious revenue-generating day for restaurants and the National Restaurant Association has consistently ranked it as one of the top revenue-generating holidays in foodservice. The potential target audience here is huge. There are 72 million fathers in the United States, with 29 million of th ..read more

MarketMan is unveiling a powerful new feature of its cloud-based inventory management and purchasing platform at the National Restaurant Association Show in Chicago on May 20-22. Stop by booth #6064 to see a product demonstration of Suggestive Ordering.What Is Suggestive Ordering? Ordering is one of the most critical parts of managing a restaurant. Once an item has been ordered it has only two likely outcomes – it either gets sold or gets wasted. For the sake of profitability, Managers obviously want to sell what’s ordered and avoid waste and unprofitable outcomes. MarketMan’s Suggestive Order ..read more

MarketMan customer The Other Bird, a Canadian hospitality group, got serious about optimizing inventory management and implemented strategies to lower Cost of Goods Sold (COGS) by 10%, adding tens of thousands of dollars to their annual bottom line. How did they go about it? Strategies to Lower COGS: Know Your Costs Successful industry veterans know their food costs. To be successful, and to know the path to profitability, you need to be intimately aware of the accounting components of restaurant profitability. Let’s take a quick refresher course on standard restaurant costs.   Variable C ..read more

Businesses globally are concerned about inflation, and a recession as a result. People are still focusing on the impact COVID, and the problems it caused for businesses, however for some businesses the struggles are now more prominent with little to no external support. Individuals and businesses face these problems alike, so reduced footfall is likely, but boosting performance and creating a more successful and sustainable business is still possible.   The inflation rate is defined by the Consumer Price Index across many contributors, and it currently sits at 6% in the US, 9.2% in ..read more

Inflation is at a 40 year high. The Consumer Price Index (CPI), calculated monthly by U.S. Bureau of Labor Statistics, pinpoints what people pay for goods and services. Recently, the CPI numbers for the “food away from home” segment of the economy, essentially the restaurant business, are not looking good. Ebook 5 Ways to Recession - Proof Your Restaurant Business Optimizing restaurant operations in 2023 and beyond Download The increase for “food away from home” rose 8.5 percent over the last 12 months. The CPI for full-service meals rose 8.8 percent over the last 12 months, and the index f ..read more

You’ve decided to take the leap and open your own restaurant. Congratulations! This is an exciting time! But don’t go shopping for real estate just yet. You have a lot to think about between now and the grand opening. Like all new restaurant owners, chances are you’ll make some all-too-common mistakes along the way. Here’s how to avoid making some common rookie mistakes as a restaurateur. 1. Skipping the Restaurant Business Plan Before you jump all in, you need to create a business plan, which helps you zero in on the direction in which you want to take your restaurant business. It outlines yo ..read more

Managing vendors is a bit like playing whack-a-mole. Just when you think you’re up-to-date, a price changes, an order is delayed, or an invoice is overdue. Even if you’re keeping your books well, tracking and organizing vendor payments can take up valuable time in your week—and if you don’t stay on top of price changes, you can easily throw your budgets into disarray. To streamline vendor payment management, follow these four steps: 1. Organize Your Bills The first step to wrangling your vendor payments is to organize your bills. Keeping paper invoices in a filing cabinet is a good way to lose ..read more