Meet the Restaurant Experts: How to Launch a Restaurant the Right Way

February 19, 2014 by Leave a Comment

The New York City Hospitality Group is hosting a webinar featuring New York City’s top restaurant experts: Tara Berman from TaraPaige Group, Elke A. Hofmann, Derek Sherman and Colby Swartz. “Meet the Restaurant Experts: How to Launch a Restaurant the Right Way” is targeted to those who are in the process of starting a restaurant or just have an idea for one. Attendees will learn how to get it done the right way.

Learn more about NYCHG’s webinar: Meet the Restaurant Experts

Date: Monday March 10th

Time: 10am-12pm

Location: Webinar (from wherever you have access to a computer)

RSVP: www.restaurantexperts.eventbrite.com or call 718.577.2150

*Upon your RSVP, NYCHG will email you the passcode and telephone number to access the webinar

Filed Under: Events Tagged With: , ,

The Future of Restaurant Technology: Touchscreen Tables and Chef Cams in Dubai

February 18, 2014 by Leave a Comment

Eater reports that Ebony Interactive Restaurant in Dubai has installed tables that posses the dual-functionality of internet-surfing touchscreens. Guests have the ability to peruse the menu, including photos of the food, order, and watch their meal be prepared by means of a “Chef Cam.” This camera gives guests the opportunity to watch their meal be prepared in real time in the kitchen.

The owner tells the Khaleej Times that he wanted to combine “a unique dining experience” with the “latest technology,” choosing to open in Dubai because “it already considers itself a smart city.” He proceeds by describing the restaurant as having “excellent ambience.” Guests who choose to look up from their table may watch a digital image of a fish swimming in a tank on the interactive wall.

Ebony Interactive Restaurant takes dining technology innovation to another level. Not only can guests use their tablet tables to order, but they can also display table cloths, “send greeting cards to other tables,” order taxi rides home, and “view photos and share them with their companions on their individual seats on the table.”

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

NYCHG Event: Meet the Owners of Analogue Feb 24th

February 18, 2014 by Leave a Comment

The New York City Hospitality Group invites you for an evening of “Cocktails & All That Jazz” at Analogue featuring owners Jesse Wilson and Jared Gordon.

Meet the owners and learn more about how they have successfully launched their new restaurant in the West Village. This exclusive event will include an open forum with educational session and Q&A. Live jazz, cocktails and food will be included.

Monday, February 24th

6-9pm

Anaologue

19 West 8th Street

RSVP by February 20th, as this private event has limited capacity.

Filed Under: Events, Local Market Buzz, Meet The Owner(s) Tagged With: ,

Marketing Your Concept on a Budget

February 17, 2014 by Leave a Comment

At last week’s North American Pizza and Ice Cream Show in Columbus, Ohio, consultant Scott Anthony analyzed strategies that restaurant operators with a limited budget and resources can employ to market their enterprises. Fast Casual delineates an overview of the most effective budget-friendly methods, as told by Anthony:

1) Employees

According to Anthony, “We all have good employees, we just need to motivate them and get them engaged.” Giving employees business cards that include a promotion (e.g. a 50-percent discount) and incentivizing them on who receives the most redemption for those cards, is one of the cheapest marketing strategies. In return, this can help generate new business while simultaneously improving employee morale.

2) Distributors

Befriend your distributors, and they just may help boost your sales. Anthony referred to the example of his partnership with the Grande Cheese Company. Grande Cheese Company provides marketing tools to operators who use its products. Additionally, they send a rep to a business to photograph and analyze the menu in order to launch a menu mailing plan. Menu-mailers have prevent o be a cost-effective strategy to communicate an enterprise’s message to guests and potential guests, and he has seen an increase in 20% in business after beginning menu mailing with his own enterprise.

3) The Community

Reaching out to the community is just as important as building relationships with employees and distributors. Anthony recommends joining the chamber of commerce, sending letters to local businesses introducing your concept, and discussing the potential for promotional incentives with those same businesses. Anthony’s efforts in forging ties with the community had a high return on investment for his concept. By sending out 1,000 discount cards to local businesses over a two-month period, Anthony managed to garnered new customers.

4) Social Media

Social Media serves as a cost-effective strategy to personalize your concept. Guests want to become acquainted with management, which is simple to achieve through social media. Social media posts do not necessarily need to be an ad or anything related to the restaurant for that matter; a humorous meme will do the job.

“Do fun things people can share. Keep it fun,” Anthony said.

5) “The Attitude of Gratitude”

A Harvard study, the “gratitude effect,” showed that people who are thanked have a near-100-percent return rate. To channel this effect, Anthony sends out thank you cards including an offer each year around Thanksgiving to his most loyal guests using data accumulated from the POS system. His efforts earn an 80 percent response.

“When you keep thanking your customers, they will feel appreciated and they will come back,” Anthony said.

Filed Under: Operations Tagged With: , ,

Dominique Ansel Personally Distributes Roses to Patient Guests in Line Outside

February 14, 2014 by Leave a Comment

Dominique Ansel, creator of the legendary cronut, handed out red roses in honor of Valentine’s Day to all of the cronut-craving guests queuing outside in the freezing cold. Some may label this random act of kindness as self-promotion, however even if that is the case, it’s endearing nevertheless. Dominique Ansel proves he is not too cool to stand outside in uniform, sans puffer coat, before the crack of dawn to show thanks to his loyal patrons.

Filed Under: Local Market Buzz, Operations Tagged With:

Five Common Myths That Lead to Tax Reporting Error

February 14, 2014 by Leave a Comment

Guest contributor Dana Zukofsky, Associate Director of accounting firm SS&G, provides clarity on tax procedures for restaurant operators. Zukofsky says, “At SS&G, we often receive questions or overhear comments from restaurant owners, operators, and CFOs about misconceptions in the industry.” Five common myths are outlined below:

1)     Myth: “The money I spend eating at competitors’ restaurants is fully deductible because it is research.”

 Truth: The cost of such “research” is considered a meal and entertainment expense by the IRS and is only 50 percent deductible for tax purposes.

2)     Myth: “When I sell a holiday gift card with an incentive attached (e.g., customer pays $25 but receives a $30 gift card), I can expense the discount when the card is sold.

Truth: When such a gift card is sold, the discount expense can be immediately recorded on your books and records, but, for tax purposes, the discount is deductible in the tax year in which the card is redeemed.

3)     Myth: “My tipped employees only need to report tips of 8 percent rather than the total amount of tips earned.”

Truth: The 8 percent rate used for analysis on Form 8027 (Employer’s Annual Information Return of Tip Income and Allocated Tips) is only used for tip allocation purposes. Using this rate does not mean that directly tipped employees must report 8 percent. Tipped employees should report the full amount of actual tips received.

4)     Myth: “I can defer the revenue from a gift card sale until the gift card is redeemed.”

Truth: The IRS has three approved methods for recording taxable income from gift cards:

  • Cash basis method: Income is recorded on the tax return in the year the gift card is sold.
  • One-year deferral method: Income is recorded at the earlier of either the redemption of the gift card or one taxable year following the sale of the gift card.
  • Two-year deferral method: Income is recorded at the earlier of either the redemption of the gift card or two taxable years following the sale of the gift card. (This method is only available if the gift card can only be sold and redeemed by the same taxable entity.)

5)     Myth: “I have to use the current federal minimum wage of $7.25 for purposes of computing the FICA tip credit on my federal tax return.

Truth: Congress froze minimum wage at $5.15 per hour for the purpose of calculating the FICA tip credit. Take advantage of this in order to maximize eligible tips and the value of the credit. If you use $5.15 per hour in the calculation, a larger credit will result since fewer tips are needed to bring cash wages to $5.15 than to $7.25.

If you have questions about any of these issues or need help with a specific situation, email us at Restaurants@SSandG.com.

Filed Under: Global Market Buzz, Operations

Natural Products Expo West in Anaheim, CA

February 14, 2014 by Leave a Comment

Dive into the most comprehensive conference covering topics from supply to shelf and meeting the needs of natural retailers, distributors, health practitioners, manufacturers and suppliers at this year’s Natural Products Expo West. The NEXT Pavilion will exhibit hundreds of the latest natural products, several of which include food.

Location: Anaheim Convention Center in Anaheim Marriot, Anaheim, CA

Event & Date: Education and Events, March 6-9, 2014

Event & Date: Trade Show, March 7-9, 2014

Cost: $95 for a General Conference Pass, free for members of the press

Filed Under: Events

How Small Business Owners Can Overcome the Challenges of the Minimum Wage Hike

February 13, 2014 by Leave a Comment

Small business owners often feel a greater impact from the minimum wage hike than larger corporations. Dilemmas such as absorbing increased operational costs pose as serious obstacles to running a business smoothly. Fast Casual suggests six steps to alleviate the negative impact imposed by the minimum wage increase:

  1. Understand profit margins, projections and business requirements to ensure profitability
  2. Determine permanent hiring vs. contracting decisions for staffing needs
  3. Make good hiring decisions— mistakes can be costly since training/onboarding new employees is a considerable investment
  4. Invest in employees— turnover decreases productivity and increases business costs
  5. Be sure to employ time and cost saving tools to standardize back office tasks. Consider outsourcing to easy affordable services that allow you to focus on growing business not administrative functions
  6. Research competition and adjust price accordingly
Filed Under: Operations

Why You Should Put Your Employees First

February 13, 2014 by Leave a Comment

High school dropout turned restaurant mogul Cameron Mitchell, of Mitchell’s/Columbus Fish Market and Mitchell’s/Cameron’s Steakhouse (sold to Ruth’s Hospitality Group for $92 million), details his journey from the lazy cook in the kitchen to one of the hardest working restaurateurs, reports Fast Casual.

In his keynote speech at this year’s North American Pizza and Ice Cream Show in Columbus, Ohio, Mitchell outlines his priorities when he first started his own restaurant group back in 1992. He explained the importance of first highlighting the company culture and values. “There are two components to opening a successful restaurant,” Mitchell claims. “Number one is having a good strategy. I made  a lot of mistakes, but I surrounded myself with smart people. Number two— the most important piece— is the company’s culture and values.” His core values are:

Two core values:

  1. The associates come first. Mitchell says, “The guest is not the most important to us. I know this isn’t our industry standard way of thinking, but I will tell you in my business we take care of our people. It’s a triangular effect. If we take care of our associates, they take care of our guests, and our guests will take care of our company,” Mitchell said, adding there are “programs and policies” in place to reinforce this value every day.
  2. The answer is always yes. Mitchell’s company’s training policy declares, “The answer is yes is the backbone of our company.” The story that inspired him to ingrain this value is the time is son ordered a milkshake and both the server and manager said “no.” In response, Mitchell ordered a chocolate milk and a la mode ice cream and requested they be blended together.
Filed Under: Operations Tagged With:

San Francisco’s Day-Old New York Bagel Craze

February 12, 2014 by Leave a Comment

The demand for New York bagels is very high— so high that San Franciscans are willing to form 2-hour long lines out the door, in the rain, to the Eastside Bagels pop-up. Eastside Bagels is serving Russ & Daughters bagels, shipped overnight, and their latest venture has proven to be such a success that plans for expansion are in the pipeline.

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