Recently VC-funded Blue Bottle Coffee released its newest product this week at EXPO West, a natural-foods conference in Anaheim: a ready-to-drink, packaged version of its New Orleans Iced Coffee. Blue Bottle partnered with Clover Organic Farms to offer this all-organic product with the same ingredients you’d find at a Blue Bottle shop – coffee, roasted chicory, cane sugar, and Clover milk. Except now, it is packaged in a 10.66-ounce milk carton and scheduled to hit shelves at every Whole Foods in Northern California by mid-March. Future roll-out will include Blue Bottle’s shops (Bay Area, L.A., and NYC), west coast Whole Foods stores, followed by a launch in the NYC area in mid-to-late May.
NYC Hospitality Alliance is offering a NYC Food Protection Course including an exam for certification. Employers have the opportunity to get their staff certified at a member rate of $145 per person. NYC health code requires that at least one certified supervisor is on-site during all food prep and times of operation.
Cost: Member Rate = $145 Non-member Rate = $170
Day 1: Wednesday, March 19th, 2014 – 8:00am to 4:00pm
The Stumble Inn | 1454 Second Avenue | Manhattan
Day 2: Thursday, March 20th, 2014 – 8:00am to 4:00p
The Stumble Inn | 1454 Second Avenue | Manhattan
Day 3: Friday, March 21st, 2014 – 9:00am [EXAM]
NYC Health Academy, 413 East 120th Street, 2nd Floor, Manhattan
The start of a new year is typically a time for reflection, new perspective and a sense of excitement about what lies ahead. For many of us, it is also the end of our fiscal year— a time to close any outstanding items, prepare annual statements, and evaluate both our financial history and future strategic goals. For many operators, this becomes a daunting task that can be burdened further by unreliable and inconsistent financial information. For those who have dependable financial records available to them, it is often difficult to tie this information back to specific business operations. While financial statements are frequently prepared by third-party affiliates, there is rarely any context, interpretation or explanation accompanying them. Owners and management teams are in turn, left to fend for themselves.
Detailed statements and the right financial analysis can offer extremely valuable insight into key business drivers as well as areas for operational improvement and growth. It is essential to have the ability to compare and benchmark against historical periods as well as relevant industry standards. Beyond analyzing past information, operators often have no predictability and little foresight into future months or quarters.
At TaraPaige Group, we understand the powerful insight detailed financial records and analysis can provide. In our own work, we consistently rely on and implement the following building blocks to help our clients achieve financial success:
- A robust accounting management system that is customized and fitted to your business
- Accurate and timely recording of sales and vendor transactions
- Standardized reports and materials with relevant operating and financial metrics to be monitored on an ongoing basis
- Detailed operating budget that focuses on revenue drivers, expense breakdown and payroll
- Weekly and monthly performance tracking against operating budget to unlock opportunities for improvement and growth
- Long term financial that accurately reflects company’s growth strategy
Whether your business is in early stages of development or positioned for near-term growth, there’s no time like the present to evaluate your current financial operations. It’s the start of a new year, which calls for a fresh perspective and the right tools to tackle your strategic and financial goals. At TaraPaige, our goal is to create the optimal financial and operating foundation for our clients’ long-term profitability and success. For more information on how we partner with clients, please visit www.tarapaige.com.
Happy Reporting…TaraPaige Group.
Network with industry members over wine and snacks while learning more about the influence of technology in restaurants on Thursday, Jan. 30th from 7-10pm at Grind Broadway (1412 Broadway, 22nd Floor). Find out more about the dozens of tech startups that are passionate about optimizing customer experience and restaurant operations. Local food artisans will have the opportunity to exhibit their products; email nina(at)foodtechconnect(dot)com if interested.
Confirmed presenters include:
Mark Egerman or Andrew Cove - co-founders, Cover - An OATV and Lerer Ventures backed payment processing app that lets customers seamlessly pay for their meals and saves restaurants money on credit card fees. @coverpay / [masked]
Alice Cheng - founder & CEO, Culinary Agents - A RRE Ventures and Correlation Ventures backed professional network that offers job matching and networking for culinary professionals in the food, beverage and hospitality industry. @CulinaryAgents / [masked]
Darren Wan - CEO & co-founder, Easy Pairings - An online marketplace for the hospitality industry that allows restaurants to lower recruitment costs and find great staff quickly and easily. @easypairings / [masked]
Eric Poley – VP of Sales, Objective Logistics - A Google Ventures and Atlas Venture backed retail/restaurant-focused software company that provides an artificially-intelligent, web-accessible labor performance management platform (MUSE). @OBJL / [masked]
Matt Oley - VP of Sales, Swipely – An Index Ventures and Shasta Ventures backed service that processes credit card payments for local merchants, then uses payment data to help businesses market and develop customer loyalty programs. @Swipely / [masked]
Swipely’s new release, “Winter ’14“, now includes menu and server performer intelligence to help restaurants “make smarter decisions about their key drivers— food, staff, and marketing,” according to CEO Angus Davis. The Swipely system is compatible with several major POS systems, and it stores data each time customers pay using credit or debit cards, which is roughly 75% of the time. Additionally, Swipely reduces the cost of accessing credit and debit card payments for restaurant operators. Operators can apply the information the insights about their servers to aid in training and decision making. Similarly, by evaluating which dishes are best-sellers, operators can more easily make sound marketing decisions.
Culintro recently posted their first networking event for January. The event will be at Sons of Essex on Monday 1/27 from 9-11pm and will feature a special food and beverage menu. All industry members are welcome, and registration is free. We hope to see you there!
The launch of Pinkberry’s mobile loyalty app last month, the prime feature of Pinkberry’s Pinkcard loyalty program, has been a huge success. A third of all in-store transactions are completed via the iPhone app, and soon-to-be Android app. Scan-to-pay technology increases efficiency and speed while conforming to forward-thinking technology. The app also serves as an interactive device for users with a point system incentive. Customers receive a free yogurt upon earning ten points. Special occasions like birthdays and earning double points for select purchases are other incentives the Pinkcard system features.
Fast casual restaurants in particular should think about implementing mobile app incentive programs for their customers; it’s one of the easiest ways to increase sales.
Starbucks’ Q4 report showed a 37% percent increase in earnings per share, and revenue rose 13% to $3.8 billion, according to a company press release.
“The fourth quarter of fiscal 2013 capped off by far the best year in Starbucks’ 42-year history,” claimed Howard Schultz, chairman, president and CEO of Starbucks Coffee Company. “Our results were driven by disciplined, ongoing efforts to elevate the value and relevance of the Starbucks brand, continued innovation and the success of our efforts to deepen our connection to customers and communities around the world.”
The already omnipresent coffee conglomerate plans to open an additional 1,500 stores and get EPS in the $2.55 to $2.65 range in 2014. Things are only looking up for the lucrative company; Teavana, recently acquired by Starbucks, will open one-thousand tea bars over the next decade. Starbucks’ subsidiary Evolution Fresh entered a partnership with Whole Foods Market which will allow the supermarket chain to sell Evolution Fresh juice and Evolution Harvest snack bars.
Starbucks’ expansion to the tea, juice and snack markets will almost guarantee a long future of continued revenue growth.