Tag: Restaurants

Elevating Restaurant Entrepreneurship: Key Takeaways from 2024

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As we continue our exploration of the best articles from 2024, today’s spotlight remains on a vital element of entrepreneurship and community—restaurants. With the holiday season fading into memory, this is a pivotal moment for restaurateurs and aspiring culinary entrepreneurs alike to pause, reflect, and strategize for the future. It’s an opportunity to analyze what has worked, set new goals, and find inspiration for the challenges and triumphs ahead.

Restaurants are more than businesses; they’re cultural hubs where creativity, dedication, and a sense of service come together. Over the past year, we’ve shared a wealth of articles on Acceler8Success Cafe that highlight the evolving trends, enduring principles, and forward-thinking strategies reshaping the industry. These stories have not only informed but also ignited conversations among our community of passionate entrepreneurs. Today, we revisit a collection of those impactful articles to delve deeper into the insights they offer.

Whether you’re refining an established restaurant concept, planning your first venture, or simply seeking inspiration, these articles provide actionable advice and innovative ideas. From the intricacies of effective branding and marketing to lessons in leadership and customer engagement, each piece underscores what it takes to excel in this competitive industry. The restaurant world is as much about people and relationships as it is about food and operations, and these stories capture that dynamic.

As you engage with these highlights, think about your own entrepreneurial path and how these lessons can shape your plans for the future. Just as crafting a signature dish requires precision, passion, and perseverance, building a successful restaurant demands focus, adaptability, and a commitment to excellence. Let these reflections energize your vision as we prepare to make 2025 a year of growth, innovation, and success in the restaurant industry.

Elevating Your Restaurant: Proven Strategies for Success

I’ve been asked quite a bit of late about what it takes to run a successful restaurant. The questions have been mounting as more and more restaurants, both independents and chain establishments, are going out of business. Seemingly, there’s a push to get back to basics, to perfect the fundamentals, and to commit to making … More

Building Success Through Community Engagement: A Guide for QSR and Fast-Casual Operators

Quick-service restaurants (QSR) and fast-casual dining, operators often focus so much on the daily operations that they neglect one of the most powerful drivers of long-term success: community engagement. Whether part of a national brand or a small independent operation, stepping outside the four walls of the business is essential for building awareness, creating a … More

Survival of the Essential: How “Necessity” Restaurants Endure Economic Turbulence

The restaurant industry is experiencing a significant wave of bankruptcy filings, with both well-known brands and smaller establishments feeling the impact. This trend has been exacerbated by economic pressures and the looming threat of a recession, raising concerns about the sustainability of many dining businesses. As consumers tighten their belts, the question arises: are there … More

Delegation is the Lifeblood of Successful Restaurant Management

For restaurant owners, the ability to delegate is not just a luxury—it’s a necessity. The modern restaurant owner must juggle a myriad of responsibilities, from managing daily operations to strategizing for future growth. With only so many hours in a day, effective delegation can mean the difference between a thriving business and a floundering one. … More

Why Every Restaurant Owner is an Entrepreneur

A restaurant owner is an entrepreneur by every definition of the term, whether they own and operate a single establishment or a chain of restaurants. The essence of entrepreneurship lies in the ability to identify opportunities, take calculated risks, innovate, and manage a business towards growth and profitability. Restaurant owners embody these characteristics as they … More

Make today a great day. Make it happen. Make it count!

About the Author

With more than 40 years of experience in small business, restaurant, and franchise management, marketing, and development, Paul Segreto is a respected expert in the entrepreneurial world, dedicated to helping others achieve success. Whether you’re an aspiring or current entrepreneur in need of guidance, support, or simply a conversation, you can connect with Paul at paul@acceler8success.com.

Acceler8Success Cafe Small Business Weekly

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Small Business Weekly is the weekly edition of Acceler8Success Cafe newsletter on LinkedIn. Moving forward, the newsletter will transition from a weekly to a daily publication. It will then be shared here on Acceler8Success Cafe blog for the benefit of our subscribers. We certainly do not want to leave our loyal followers behind. If you like what you see upon previewing this new content, please take a few minutes to subscribe so the blog will be in your email each morning. If you would, please also share with your friends & colleagues. It’d be greatly appreciated. Thank you.

Small Business Weekly

Number of Women in Franchising Has Grown Each Year Since 2016 (credit: 1851franchise.com)

There has never been a better time to be a woman business owner. 

For Women’s History Month, Franchise500’s Jeff Cheatham offered a look at the impressive strides females have made in the franchising industry, which indicates a promising future for women in the industry. 

First, Cheatham looked at how much the rate of women-owned businesses has grown in the last half-century. The U.S. Census Bureau started keeping records of female entrepreneurs in 1972, when just 400,000 companies were women-owned. Today’s statistics show over 13 million businesses owned by women, a staggering 3,150% increase. Women now account for about one-third of small business owners and franchisees, Guidant Financial reports.

When it comes to interest in franchise ownership, women are currently outnumbering men in exploring possible investments, Franchise Insights reports. And that trend shows no sign of slowing; the number of women becoming franchisees has risen steadily for the last five years.

About 33% of all female business owners and franchisees have been running their operations for more than a decade, the Guidant Financial data shows.

As gas prices rise, small business owners slam Biden’s ‘shortsighted’ energy policies: ‘Out of touch’ (credit:foxbusiness.com)

The pressure that the coronavirus pandemic put on small business, coupled with the historic inflation and spiking gas prices as the Russia-Ukraine war wages and relative inaction by the Biden administration, is creating a rapidly deteriorating situation for small business owners and operators.

Gas prices have reached historic levels amid soaring inflation in the wake of the pandemic and Russia’s war on Ukraine. In an effort to combat soaring gas prices, the Biden administration has already released tens of millions of barrels of oil from the Strategic Petroleum Reserve, but it has not been enough to have an impact. Meanwhile, the administration’s ban on Russian energy imports further tightened supply.

Some of the hardest hit have been small business across the U.S., who told Fox News Digital that they are struggling to keep their doors open and are demanding the Biden administration take immediate action to help them.

Read more HERE.

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From unemployment to entrepreneurship (credit: yourstory.com)

Over a million Indians move to the US each year, but finding a job can be a tough task. Priyanka Botny found herself in such a situation. 

Unwilling to give up, she decided on becoming an immigrant entrepreneur and started Playonomics — an online experiential learning platform for employees to improve their emotional intelligence. 

Priyanka says often focusing on IT infrastructure takes away attention from employee wellbeing. “We help in bringing that intelligence to build emotional skills, along with digital transformation at organisations,” Priyanka explains. 

The startup focuses on decision-making and using human emotions to further digital transformation. 

Read more HERE.

Fast Food and Quick Service Restaurant Market Development, Trends, Demand and Forecast Till 2022-2027 (credit: marioniniversitysabre.com)

According to IMARC Group’s latest report, titled “Fast Food and Quick Service Restaurant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 232.3 Billion in 2021. Fast food and quick service restaurants (QSRs) serve fast foods that are cooked and packed in advance. They are commonly a part of a franchise or a food chain, wherein standardized ingredients are available for food preparation. These types of restaurants have minimal table service and generally offer takeaway options. Some of the widely available foods and beverages in these restaurants include pizza, pasta, soft drinks, coffee, tea, juices and burgers.

The global market is primarily driven by significant growth in the food and beverages industry. Along with this, the inflating disposable incomes, changing dietary patterns and the shifting lifestyle preferences of the masses are creating a positive outlook for the market. Additionally, the hectic schedules and busy lifestyles led by the working professionals have resulted in a rise in the consumption of on-the-go food items, thereby providing an impetus to the market growth. Some of the other factors contributing to the market growth include the increasing penetration of social media, easy food availability via online delivery options and innovative marketing strategies adopted by numerous players. Looking forward, IMARC Group expects the global fast food and quick service restaurant market to reach US$ 308 Billion by 2027, exhibiting at a CAGR of 4.9% during 2022-2027.

Read more HERE.

Have a great week. Make it happen. Make it count!

Learn about Acceler8Success Group services & resources for current and aspiring entrepreneurs by visiting our website at Acceler8Success.com.

Acceler8Success Cafe Daily Thursday 10.29.20

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Every Company Needs an Entrepreneur in the C-Suite

Innovation thrives when it has power and status within an organization. To enable real innovative growth — and rapid response in the face of such crises such as Covid-19 — boards and company leaders must structure top organizational roles to give innovative efforts the resources and attention they need. In our work on business model innovation with over 100 large and medium-sized companies, we’ve found that companies looking for transformation have two good options: an entrepreneurial CEO or a powerful chief entrepreneur. Read more here.

7 Entrepreneurship Stages Will Propel You to Where You Need to Go

The road to becoming an entrepreneur is a journey, and it’s not a short trip. In my efforts to assist aspiring business owners like you, I find that too many see it as a short sprint to get over that one hurdle, like finding that innovative idea, or attracting an investor. In reality, I find that there are multiple stages to the process, each requiring a unique mindset and focused effort along the way. I was pleased to find a new book, The Entrepreneur’s Faces, by Johnathan Littman and Susanna Camp, which outlines the key stages and provides examples of real people making the transformation from one stage to the next. Read more here.

If you wouldn’t think about building a house without blueprints, why would you consider building a business without blueprints? Like plans for a home, business blueprints should include each component necessary for long-term benefit. Whether exploring franchise ownership or growing your brand via franchising, Franchise Foundry can help ensure you have the right blueprints specifically for you! Learn more here.

What Restaurant Sectors Thrived During The Pandemic?

Why did some restaurant chains sales thrive so quickly after the pandemic?

This week’s episode of the Restaurant Business podcast “A Deeper Dive” features Lorn Davis, who leads corporate and product strategy at the financial data firm Facteus. The company has been reporting sales using debit card information since the start of the pandemic, and its weekly reports have provided some key insights into the direction of retail and restaurant spending. Davis discusses some of the sectors performing particularly well, such as chicken wings, and those that have a longer runway for improvement, like coffee. He talks about the factors that have influenced the sectors’ success and failure, and he discusses how consumers have changed since the start of the pandemic—and how much of that change could be permanent. Listen to podcast here.

Jersey Mike’s Subs CEO Peter Cancro to join MFHA President Gerry Fernandez to talk about the path to Black restaurant franchise ownership

Peter Cancro, CEO of Jersey Mike’s Subs will be a keynote speaker at Restaurants Rise powered by MUFSO on its final day, Thursday, Oct. 29, at 3 p.m. EDT, in discussion on the path to Black franchise ownership, brought to you by PepsiCo Foodservice.

Cancro will be joined by Karim Webb, CEO of 4thMVMT and co-founder of PCF Restaurant Management — a franchisee of Buffalo Wild Wings — and Hugh Roth, senior vice president and chief customer and business development officer for PepsiCo’s Global Foodservice Division. The panel will be moderated by Gerry Fernandez, president and founder of the Multicultural Foodservice Hospitality Alliance (MFHA). TIME SENSITIVE: Read more here.

5 Best Business Ideas for 2021

The COVID-19 pandemic presented a flurry of challenges, from finding small business funding, short-term business closures, quarantines, and mask-wearing to sharp declines in storefront traffic and more.  So there is no doubt that many entrepreneurs threw in the towel this year. Despite all of this, the data shows that 2021 will be a great time to go into business for yourself. Let’s take a look at some trends shaping new businesses next year and five of the best entrepreneurial ideas for capitalizing on them. If you’re considering starting a small business in 2021, there are some trends to consider before making your plan. Read more here.

As Small Business Saturday is just around the corner please keep in mind that franchises are also small business. Franchise owners are very much the same as Mom & Pop businesses across America having invested their life savings to achieve the American Dream of owning a business. #ShopSmall and #ShopFranchise on #SmallBusinessSaturday.