Mother’s Day Dining Trends

May 5, 2015 by Leave a Comment

Mother’s Day is the most popular holiday of the year to dine out and new research from the National Restaurant Association shows that nearly half of Americans will choose to eat out for this holiday. American’s might see this day as a chance to give mom a break from cooking but it appears that the rest of the family does not plan on picking up the slack in the kitchen.

The survey done by the National Restaurant Association shows that 38% of consumers plan to dine out while 7% plan to get take out or delivery. Families with children increase that statistic revealing that 45% of these families will dine out and 10% will bring in food. Additionally, the survey shows that there is a correlation to the age of a child as the older the children, the more likely the family will dine out. Some individuals even announced plans to dine or order out multiple times this upcoming Sunday.

The National Restaurant Association has also found that of the Americans that will be spending their Mother’s Day in a restaurant 83% made their plans to do so less than one month ago.

To read more from the National Restaurant Association, click here

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Growing Interest in Specialty Bread

March 30, 2015 by Leave a Comment

With the rise of gluten free dining and carb-eschewing diets like Paleo, bread has been getting beaten up lately.  Now that bread is seen more as an indulgence, consumers are treating the sandwich staple with more revere, and expecting better options.  Jana Mann, senior director of menu research firm Datassential, noted that consumers are drawn to breads that evoke freshness, speciality or ethnicity, or seem in some way to be premium products.

Baking bread in house in nothing new, but larger chains are getting into the swing of things by product smaller, easier breads like pretzels and focaccia in house.  “Pretzel” was the fastest growing bread descriptor on menus in 2014 and for good reason.  Ms. Mann notes that pretzels have an approachable but also ethnic heritage, and can work in both sweet and savory applications.  Wendy’s recently launched a Pretzel Bacon Cheeseburger as a limited-time offer, but it was so popular that the brand returned the item to the menu permanently.

Datassential’s Mann notes that like pretzels, other ethnic breads such as bao buns, Indian naan, and Mexican telera rolls can be used to add a slightly exotic feel to familiar foods.  “Consumers can’t eat two things they don’t know, but pairing something unfamiliar with something familiar grounds it,” she said.  It’s not much different from adding unfamiliar or unconventional toppings to pizza, she added.

To read more, click here.

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New Talde Opens In Jersey City

February 5, 2015 by Leave a Comment

Last night American Chef Dale Talde opened the second location of his restaurant Talde. The first outpost is very successful in Park Slope, Brooklyn, and has now been brought over to the other side of the Hudson in Jersey City, NJ at 8 Erie Street. Talde is is a casual Asian-American restaurant and bar famous for creative dim sum dishes such as the bacon pad Thai and dumplings galore, including flavors such as pretzel, pork and chive. The new location will be introducing a few new dishes and dim sum options including the McBao, a bun with a boneless char sou ribs and pickles.

The design of the new space is slightly more modern that its counterpart in Park Slope with exposed brick walls, booths that each have heavy wooden tables and concrete floors. The decor consists of pieces like porcelain dolls, Buddha head art and an attention grabbing installation of large lanterns hanging over the bar. To check out pictures of the new space or to download a copy of the menu at the new Jersey City location of Talde, click here. 

 

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Restaurant Finance and Development Conference 2014

January 6, 2015 by 2 Comments

Every November, TaraPaige heads to Las Vegas to attend the annual Restaurant Finance and Development Conference. The conference is attended by restaurant CEO’s, owners, operators, and finance professionals from all over the country. Attendees have the opportunity to meet, mingle and learn from investment firms, real estate developers, and other financial firms to source financing, make deals, and locate new business opportunities. Each year brings a new set of hot topics regarding the current lending and investment environment for food enterprises.

As we begin 2015, we would like to share with you a few of TaraPaige’s key takeaways from this year’s conference.

  1. Markets Are Still Strong! Contrary to popular belief, recent markets conditions are still promising for the restaurant industry. It is understood that restaurant sales follow consumer discretionary income and with recent index highs, increased household income, and more diverse dining options than ever before, we can expect total restaurant sales to benefit. Even since 2009, the U.S. restaurant industry has returned to historical growth rates, with total sales rising about 3 percent a year, slightly ahead of inflation.
  1. Capital Raising – Know Your Audience: Raising capital for your enterprise is never an easy feat, but knowing the stage of growth for your business is key. First time owners and operators will typically source initial funding from friends, family or themselves as banks and institutional investors are often weary of new concepts without a proven business model. For institutional capital, lenders and investors like to see a clear path for growth, strong cash flow, and established operations. This is also geared towards later-stage growth companies looking for larger capital commitments. High net worth individuals may be another financing opportunity for those who have the right concept, created the connection, and are looking for a substantial investment and partnership.
  1. Casual Dining Revival: Perhaps the forsaken stepchild of recent years, casual dining is at an interesting turning point. After seeing a significant evolution from family dining, to the popularization of ethnic foods and a focus on healthy cuisine, owners and operators are looking to reset and restart growth in this category. Strong brand positioning, concept differentiation, target market knowledge, and end-to-end engagement across the organization will contribute to positive growth. After all, consumers will make their choice by brands and experiences, not based on industry dining segments.
  1. Future Food Trends: By the time you’ve nailed down the current food trends, it’s likely the industry has already moved on. However, there are a number of movements that have made their way across dining segments and different concepts across the country. Ever since the explosion of ethnic and fusion cuisine, flavor and more specifically, spice is here to stay. Consequently, menu differentiation and chef-driven concepts have soared in popularity. Seasonality and local-sourcing now play a large role in menu items while non-traditional menu structures such as small and shared plates are popping up everywhere.

The restaurant industry is constantly evolving, with new opportunities for growth and investment each year. The Restaurant Finance and Development Conference offers great networking opportunities, but also insight into practical operational and financial topics presented by the top experts in the industry. We thoroughly enjoyed our trip and will see you again next year!

 

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Tony Roma’s Steakhouse’s Image Update

October 7, 2014 by Leave a Comment

Tony Romas will be the parent chain of their new TR Fire Grill and Lounge restaurants, which are opening as a trendier concept with the aim to woo millennial diners. TR Fire Grill and Lounge locations are a part of Tony Roma’s Steakhouse’s image updating plans to add some new energy and vibes to the chain. Company leaders aim to open a whole new branch of the company while giving existing restaurants an image makeover.

TR Fire Grill and Lounge offers signature cocktails and  locally sourced ingredients. The menu is creative with exciting offerings designed to compete with modern offerings  in high-end eateries which is what appeals most to the millennial dining segment. Re-branding an aging brand is no easy task, while also trying to expand the current brand internationally. Chief marketing officer Jim Rogers expresses that they have big plans for menu changes and work on the new restaurants but also wish to keep and expand the Steakhouse, “We might have done some things in the past to get away from our core. We want to make Tony Roma’s a fun, family restaurant again.”

Aaron Allen of Aaron Allen & Associates, a restaurant consulting firm, expresses the difficulties of re-branding casual dining restaurants, “The worst place to be is a casual dining restaurant with an average check under $20…It’s especially hard for a company like Tony Roma’s that is trying to keep and attract franchisees that could spend less money on a fast casual restaurant.”

To read more about Tony Roma’s Steakhouses’ new concept and movement within the brand, click here

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New Dining Hall in Grand Central Terminal

June 26, 2014 by Leave a Comment

Vanderbilt Hall in Grand Central terminal has hosted many pop up shops, private events and temporary displays in the past. Now it is on its way to installing a permanent dining hall. It would also become home to a fine-dining restaurant headed up by Claus Meyer, founder of Noma in Copenhagen.  The Metropolitan Transportation Authority revealed the food hall plans last Friday which has been endorsed by a committee in charge of managing the proposals for the space. The Metro-North Railroad committee will hold a preliminary vote with the committees financial advisors and then the board will meet to make a final decision.

This project would add more casual dining choices in addition to the food court at the terminal’s lower level as well as other retail shops and cafes. There will also be  large 100-person Nordic Brasserie and a grab-and-go in the space that is currently a Hot & Crusty stand. The idea of the project is to generate more traffic for existing tenants and to have enough new variety and choices to engage all price points. The project is set to be completed in the next two years.

To read more about the future plans for Vanderbilt Hall click here

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New App Means New Competition for Fast Casual

June 11, 2014 by Leave a Comment

In an effort to add more emphasis on speed and hospitality, BJ’s Restaurant and Brewhouse launched an app last Tuesday that allows diners to place their orders before arriving at the restaurant. BJ’s Chief Executive Gregory Trojan believes that being hospitable is the most important task for a waiter. The casual-dining restaurant chain’s goal in launching the app is to shift the wait staff’s duties to enable them to focus on being more conscientious of the customer.

The customer is placed on the wait list once they have ordered via the app, eliminating the need to wait at the host stand upon arriving at the restaurant. The kitchen fires the meal once the customer is seated to ensure the food is hot when it arrives at the table. The app also offers a mobile payment option at the end of the meal eliminating the need to wait for the check.Trojan assures that the app will not mean less waiters but simply that the waiters will be removed from the ordering process.

The increase in speed and service will be an added draw to the customer which will enable BJ’s to better compete with fast casual establishments. Panera Bread and McDonald’s have also been experimenting with different ways to include the customer to streamline the ordering process.

 

To read more about the app launch and what it means for the future click here

 

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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

 

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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

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Parm Opening Upper West Side Location

February 24, 2014 by Leave a Comment

The team behind Parm, Jeff Zalaznick, Mario Carbone and Rich Torrisi, plan to expand their popular Italian casual dining concept to the former Lansky’s Old World Deli space on Columbus Avenue this summer. This is not the only new location in the pipeline for the Italian restaurateurs; Parm will likely come to Williamsburg and Brookfield Place.

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