Not So Secret Supper Clubs?

June 9, 2014 by Leave a Comment

When Airbnb first launched, the concept of choosing to spend your vacation in a stranger’s home seemed completely odd. Now that this is no longer considered as irregular, Airbnb has set itself a new challenge: to make dining in a stranger’s home somewhat mainstream. Airbnb is launching a pilot program in the San Francisco Bay area where it will allow home cooks to host a home cooked meal in their own homes. Home-sharing was originally a tough sell, but this could definitely prove to be a bigger challenge. Tourists most likely will want to explore the restaurant and bar scene of their destination, but perhaps this service could add a completely new dimension to the dining experience. From a diner’s point of view the experience could potentially be awkward depending on varying degrees of interaction with the hosts and a from a host’s point of view, cooking and entertaining is a lot more labor-intensive than simply rendering the keys to your home for a home stay.

To read more about this experiment and what it could mean for the restaurant sector click here

 

Filed Under: Global Market Buzz, Openings Tagged With:

Mobile Payment Solutions Explained

June 9, 2014 by Leave a Comment

This past Thursday, our team at Tarapaige Group attended a Webinar event about mobile payments hosted by LevelUp and QSR magazine. Lysa Chen, Marketing Director of Chop’t and Michael Hagan, COO of LevelUp, shared their insights into how to avoid mistakes big brands are making, how to drive revenue, and how to achieve a successful customer adoption.

A few mistakes big brands are making in their implementation of mobile payment apps is that they are creating the app off of a loadable gift card model. What this means is that although the app is free in the app store, the customer is then being asked to invest in the brand via the price tag for their gift card. The redemption methods are also confusing as the customer must open the app, log in, load the gift card which has a numerical code and then give this code to the cashier. If after this whole process the cashier is not aware or trained, it will result in a very frustrated customer. It is important that the staff is trained and that the app provide more value than a gift card or than simply swiping a credit or debit card.

Lysa Chen stressed upon the power of promotion for a successful implementation. She suggested creating campaigns for app adaption such as loyalty programs and a way to earn and redeem rewards. She recommended a “spend x get y” loyalty program to drive revenue as opposed to a “10th visit get a free item” approach because this limits the potential of the additional spend.  Chop’t also launched an acquisition contest to celebrate the app whereby every transaction made by the customer  using the mobile app was automatically entered to win $100. Another one of Chop’t’s best practices was to distribute FAQ flyers to the customers and have the staff in the queue engaging with the guests directly to promote the app.

Most importantly, when implementing a mobile payment system the emphasis should be put on the ease of use in the digital experience and improving overall efficiency. The goal is to add as much value to the app as possible and to apply campaigns based on the insights received on customer behavior. Lysa Chen and Michael Hagaan drove these points home in what was a very informative and helpful Webinar event.

Filed Under: Events, Global Market Buzz Tagged With:

Stronghold Williamsburg Verb Cafe is closing

June 6, 2014 by Leave a Comment

The Verb Café has been open on Bedford Ave in Williamsburg, Brooklyn since 1999.  The café could not afford to keep their doors open after a rental fee increase of 70% and is now set to close. The Verb was not necessarily known to brew the best cup of coffee, but was more of a popular hipster hangout which attracted many artists and musicians over the past fifteen years. It is uncertain whether or not they are relocating or if this is the final adieu, but either way the Williamsburg locals will always treasure the memory of Café Verb.

Filed Under: Closings, Local Market Buzz, Opportunities Tagged With: ,

Hope is not a Strategy!

June 6, 2014 by Leave a Comment

Costs are at an all time high affecting every single ingredient in the kitchen. In order to not feel dispirited, it is important to put a good strategy in place to deal with the unreliable nature of the supply chain. Last month at the National Restaurant Association Show, a group of experts in the industry shared some advice and knowledge for operators both large and small on how to navigate these uncertainties. Picking the right type of distribution system, choosing a capable distributor and communicating with your partners are all crucial factors to maximizing your supply chain strategy. It is key to always be conscious of future problems that could arise in order to protect your operations.

To read more about the emerging issues and how to tackle them, click here

Filed Under: Global Market Buzz, Local Market Buzz, Operations Tagged With:

Down to Earth Farmers Market opening in Chelsea

June 5, 2014 by Leave a Comment

A new farmers market named the ‘Down to Earth farmers market,’ is opening this Saturday on West 23rd St & 9th Avenue in Chelsea. This summer market will be set up on the sidewalks and open from 9AM to 5PM until November 22, giving locals a chance to shop for locally sourced food. Nicole Reed, a spokesperson for Down to Earth, states that one of the main goals in opening this market is to increasingly get more people to source from New York agriculture. The Down to Earth group currently has 19 markets in the NY area, and this will be its second location in Manhattan, with its first being the Morningside Park market.

Here are a few vendors that the market will be featuring:

  • Roots to River
  • Alex’s Tomato Farm
  • Locust Grove Fruit Farm
  • Meredith’s Bread
  • Tuthilltown Spirits Farm
  • Dickson’s Farmstand Meats

For more information on the market click here

Filed Under: Events, Local Market Buzz, Openings Tagged With: ,

Advancement of Mobile Payments in the Restaurant Industry

June 5, 2014 by Leave a Comment

Starbucks was the first to adopt mobile payments back in 2011, and now other brands are quickly getting on board. As mobile payments become increasingly more available, customers will begin to expect the service, so brands are now navigating through their options on how to launch their own mobile payment systems. At a panel held last week by the National Restaurant Association, brand representatives stated that mobile payments are moving toward the mass adoption stage and are no longer in the early stages.

Mobile payments offer the benefit of providing an insight into consumer’s purchasing behaviors and this information in turn can be used to influence such behaviors in order to better engage with the customer. Mobile payments also mean lower interchange rates and more secure payments. Restaurant brands will need to explore different technologies that can help facilitate payments at the point-of-sale and decide which will be a good fit.

Here are just a few of these types of technologies:

  • NFC
  • QR code presentment
  • QR code scan
  • Single use number
  • iBeacon technology

To read more about the benefits of mobile and the technologies, click here

 

Filed Under: Global Market Buzz, Local Market Buzz, Trending Now Tagged With: ,

EAT (RED) DRINK (RED) SAVE LIVES

June 4, 2014 by Leave a Comment
This month of June Pat LaFrieda and Chef Mario Batali partnered with (RED) to raise awareness of the fight against AIDS. From June 1st – June 10th participating restaurants, bars and food trucks are donating a portion of their sales to the Global Fund to fight AIDS. The participants are getting involved by creating (RED) inspired recipes, dishes, cocktails and prix-fixe menus in order to help #86AIDS, a term used in the industry to show an item is no longer available on the menu: this is ultimately what (RED) wants to see occur with the AIDS epidemic.
A few chefs that have joined the cause include:
Chef Marcus Samuelsson
Chef David Burke
Chef Gabrielle Hamilton
Buddy Valastro
To find out more about either how to get involved or for participating restaurants click here
Filed Under: Events, Global Market Buzz, Local Market Buzz Tagged With: ,

Product Mix Maximization

June 4, 2014 by Leave a Comment

There are many forces that when working together create successful enterprises. The key ones for us are a streamlined concept, a great operator, a long-term vision, a unique selling proposition and ultimately a product mix that resonates with your guests.

For the first half of this year many enterprises have engaged our firm to advise them on store flow and product mix. The question arises often, what makes a great product mix? First and foremost, a great product mix is one where when the guest walks into your enterprise, and without thinking knows what to order. Your role as an enterprise is to guide the guest through the experience, while the guest feels as though there are many choices to make; the actual decision process is easy.

When thinking about product mix, we highlight a few quick tips to maximize the guest experience and financial success.

  • Day parts. Which ones will you be offering; breakfast, lunch, midday, dinner, late night?
  • Core products. Establish the core products that the enterprise will produce.
  • Maximize kitchen production. Are the core products you are producing actually the ones that are anticipated to be the top sellers? If not, think how to best maximize kitchen production for the top sellers.
  • Complimentary products. Once you have established the core products, think about what additional product groups compliment your menu.
  • Streamlined Concept. With all of the above, does your product mix speak to your vision of the concept.

Try not to steer far from your concept. We have worked with many enterprises that want to be everything to everyone and this formula is a recipe for disaster. No one enterprise can be everything but one enterprise can be something great with a clear message.

Happy product mix…TaraPaige Group.

Filed Under: Enterprise Insight Tagged With: ,

New Foodie Crowdfunding Site

June 4, 2014 by Leave a Comment

Having noticed a significant increase in food-related crowdfunding campaigns on popular sites such as Kickstarter or Indiegogo, Cheryl Clements, Founder & CEO of Fundafeast, took it upon herself to find a method to help food entrepreneurs grow their business. In February of this year Clements launched Fundafeast, a NYC based food-specific crowdfunding site. A few similar sites already existed, however, the Fundafeast business model set itself apart by having implemented a “Keep It All” policy;  meaning that apart from the site’s 4% fee, members retain all of what they raise. Startups using Fundafeast are also offered memberships to the site where they can benefit from services such as web development, product design guidance and legal help at a very low cost.

To read more about Fundafeast’s growing community and an interview with the Founder & CEO click here

 

Filed Under: Global Market Buzz, Local Market Buzz

Carmellini’s Bar Primi Opens on Bowery

June 4, 2014 by Leave a Comment

Last Monday, Andrew Carmellini opened Bar Primi, a new casual pasta shop on Bowery. The concept came into existence seven years ago, while Carmellini was still a chef at A Voce. However, due to a number of circumstances the restaurant did not end up opening. In January, when the space which used to belong to Peels (a neighborhood brunch spot) became available, Carmellini  seized the opportunity  to finally open the restaurant he had envisioned years earlier. Carmellini and chef/partner Salvatore Lamboglia have created a menu focused on traditional Italian pasta dishes, known as the ‘primi piatti;’ all made fresh and daily in house.

 

Read more about the menu and opening here

Filed Under: Local Market Buzz, Openings Tagged With: ,
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