Monday, December 31, 2012

Belajar Bisnis Online Untuk Pemula

Sunday, December 30, 2012

Online Marketing Solutions

online marketing solutions Biography Market your business online in hundreds of places Pay Per Click Advertising Generate leads quickly Search Engine Optimization Build long term results Facebook Marketing Take your business social Email Marketing Build strong customer relationships Online Press Release Get the word out 123 What Is Online Marketing? Online marketing, or Internet marketing, allows you to promote your products and services online at a lower cost than traditional advertising. It helps you grow your business because it provides qualified leads from potential customers who are looking for your products and services.

Monday, December 24, 2012

Denver Real Estate Investment

The #1 Source for Denver Investment Properties, Denver Real Estate Investors and those interested in Denver Investment Property. Post your deals and let members know what you need. This is a page for all Denver, Colorado Real Estate Investors and those interested in Denver Investment Property. Post your deals and let members know what you need.

"Camper cabins"

For those who want to camp out, but don't want to sleep in a tent, some of Minnesota's state parks offer an enticing compromise, as explained at the StarTribune: Filling a niche between tents and RVs, the camper cabins typically have bunks, heat and light but not water or a bathroom.

Monday, December 10, 2012

Sea Trucks gets Hyundai contract

The Sea Trucks Group has announced a contract award from Hyundai Heavy Industries (HHI) for Total in Nigeria. The project comprises the charter of a DP3 accommodation support vessel and associated services for 430 company personnel at the USAN FPSO, located 100km offshore Nigeria inwater depths of 750 m to support the mooring, hook-up, commissioning, and start-up activities of the FPSO. One of Sea Trucks' DP3 offshore construction/ accommodation vessels, with fleet number Jascon 30, will be used for the project with a new custom-built relocatable buildings block installed on deck to provide extra facilities for 184 people. After Akpo in Nigeria and Girassol and Pazflor in Angola this is the fourth accommodation services project the group will execute for Total.

Sea Trucks gets Hyundai contract

The Sea Trucks Group has announced a contract award from Hyundai Heavy Industries (HHI) for Total in Nigeria. The project comprises the charter of a DP3 accommodation support vessel and associated services for 430 company personnel at the USAN FPSO, located 100km offshore Nigeria inwater depths of 750 m to support the mooring, hook-up, commissioning, and start-up activities of the FPSO. One of Sea Trucks' DP3 offshore construction/ accommodation vessels, with fleet number Jascon 30, will be used for the project with a new custom-built portable accommodation block installed on deck to provide extra facilities for 184 people. After Akpo in Nigeria and Girassol and Pazflor in Angola this is the fourth accommodation services project the group will execute for Total.

Tuesday, November 27, 2012

Mobile Technology Meets the Restaurant Industry

Restaurant Industry
Many industries can benefit from mobile technology - not just the industries that seem to go hand in hand with technological advances. One such industry that can join with mobile technology is the restaurant industry. This occurs because mobile technology offers innovative solutions that can make any industry run more smoothly by increasing the efficiency and productivity of that industry.
QR Technology
Restaurant IndustryQR technology is one of the best ways by which the restaurant industry can benefit from mobile technology. To start with, you need to forget everything you know about QR technology. Most people have a very puerile and naïve understanding of this far-reaching technology. For example, what do you think of when someone says "QR"? You probably think of a black and white barcode. Did you know that QR codes don't need to be black, white, and boring? It is now possible to create custom-designed QR codes: codes that are colorful and creative. These codes allow you to blend designs with your company's logo, as well as background imagery, in order to create a code that truly stands out.
What's more, QR codes do way more than what most people think they do. Many people think that QR codes simply bring a user to a website. This is a very limited understanding of QR technology; QR codes can actually do a number of different things. If you're in the restaurant business, you can use QR codes to do the following whenever someone scans a code:
- Send a menu to someone's email
- Send promotional coupons and specials to someone's cell phone
- Display a detailed map explaining how to get to your restaurant
- Provide photos of your food and atmosphere
- Allow a user to watch a video advertisement of your restaurant
- Allow a user to enter a contest
And more!
The sky is the limit when it comes to QR technology. This technology is incredibly versatile, and can be used to solve a multitude of problems.
Smart Sites
Restaurant IndustrySmart sites provide a great opportunity to anyone in the restaurant industry: namely, the opportunity to own a website that can be altered at anytime by anyone... regardless of web know-how. This is indispensable to the restaurant industry; because restaurants are commonly adding and taking away meal specials and promotions, as well as commonly altering menu items, they need a website that is dynamic and alterable. If a restaurant's website is difficult and time-consuming to edit, that restaurant runs the risk of providing out-dated information that could potentially infuriate customers. More importantly, websites need to be able to be viewed on a mobile device. Many people browse the Internet on a mobile phone; therefore, it is very unwise to have a website that cannot be viewed on this device.
Together, QR technology and mobile smart sites provide two unique sets of solutions that the restaurant industry can take full advantage of. Consider contacting a mobile solutions service today to find out how they can help your restaurant reach its full potential.
Restaurant Industry
Chris Jenkin, chief executive officer of Gotcha! Mobile Solutions, has always shown a key sense of business intelligence and an unmatched ambition for success. Studying at the University of Nevada, Las Vegas, Jenkin has been an entrepreneur since college, always looking to dedicate himself to bigger and better ventures.
Chris is both a CEO and a writer, a businessman and a family man. He consistently and competently handles and delegates responsibilities, and constantly strives to achieve a perfect balance in his life. Jenkin is a practitioner of Bikram Yoga, and uses it to improve himself both inwardly and outwardly. Harnessing various aspects of self-improvement, Jenkin is always looking for ways to better both himself and his business as he constantly looks ahead to what life has to offer him next.

Thursday, October 4, 2012

How an EPoS System Changed the Restaurant Industry

Restaurant IndustryEating out in a restaurant is supposed to be an enjoyable affair. The food you eat should be better than anything you could cook at home, the service is supposed to be friendly and reliable and the whole event should be a pleasure. Most people however have experienced a restaurant visit from hell at some point where your orders have been mixed up, the food quality has been sickening and the staff were so rude you considered asking them for money instead of paying the bill.
Well now all that has changed with the implementation of EPoS System technology in the restaurant and catering industry. An EPoS terminal in a restaurant or fast food outlet is much more advanced than those you might find in small scale retailers. They allow front of house staff to communicate effectively with those in the kitchen, they can track orders, and stock can be managed.
One of the best ways in which restaurant service has been improved with EPoS systems is through the use of wireless terminals which are connected to the kitchen. The waiter can take a table's order and this will automatically be sent to a printer in the kitchen. This can cut out a lot of confusion over handwriting and lost tickets as they be easily reprinted.
An EPoS system is not only useful in the restaurant business as it speeds up payment transactions in any environment. However this can particularly helpful in places where food is served as there are often people waiting for tables, or the diners need to get back to the office after a quick business lunch.
Restaurant IndustryFast food restaurants have benefitted from EPoS systems immeasurably, especially those which have a drive-through. The in-store personnel can communicate with the customers through a headset or wireless terminal outside the restaurant and the orders can be made through a till at an order window. That order can then be transferred and paid for at yet another point of sale terminal. All of this makes the work of the restaurant easier and speeds up the whole experience for the customer, which is what fast-food was designed for after all.
For these reasons and others the EPoS system has become irreplaceable in the restaurant industry and advances are being introduced to the technology all the time to keep service and organisation quick and smooth.
Sarah Boothman is a writer and marketing executive based in Yorkshire, England. She is an avid internet user and likes to share information with the rest of the world. One of her favourite businesses specialises in EPoS system technology. Visit today.

Saturday, September 29, 2012

Time Management in the Restaurant Industry

Restaurant IndustryWhen I was initially planning on becoming a restaurant owner/manager of my 1st restaurant, I was told that I could expect to work a 70 hour week. At the time I was working as a GM for a restaurant and averaging 55 to 60 hours per week. Being young and single, I accepted these hours as part of the package. Shortly after I opened the restaurant, I was married and significant life style changes would have to be made. I then had to consider the fact that if I wanted to raise a family, my time would now have to be divided.
As is often the case, once we make something a priority, we can normally make it happen. I knew only one way to work at running a restaurant, and that was taking me long hours. Therefore, I hired a Time Management consultant who was currently working with Hewlett Packard middle and upper management personnel.
Below are the practices and some tips that he taught me that not only resulted in my having quality time to raise a family but made me a more efficient manager of my restaurant business:
1.) Most importantly of all, I learned to run the restaurant through operational systems. Systems designed for a consistent and repetitious performance of job procedures. Instead of having to personally direct every aspect of the operation, I now had systems that ran the restaurant. I ran the systems and the systems ran the staff. Clearly defined and proven operational systems are the key ingredient to successful restaurant franchises. Start up restaurants without the franchise type systems will pre-determine a 70 hour week for the GM or owner manager.
Restaurant Industry2.) Is it important or just urgent? How often in a day is the GM interrupted to answer a telephone call that could easily be returned at a designated time set by the GM? How many times does a salesman drop by to introduce themselves and their product, when they could easily be told to please call for an appointment? What may be urgent to someone does not necessarily make it important. Also, it can be important but not urgent, and can be handled later at the GM's time discretion. Therefore, the choice of the GM's time should be based on the decision that it is both urgent and important.
3.) Prioritizing time with a "to do list" is helpful as long as the prioritized activities are flexible. No matter how well a restaurant manager is organized, there will always be times when his or her immediate attention will be needed.
4.) Anticipating the next day's activities and trying to plan for them can save a great deal of wasted time. For example, it may be a good idea to plan paper work activities on the slowest day of a week rather than a busy weekend day.
5.) A good way to organize yourself to be more productive with your time, is for one week to monitor your activities by time spent on them and noting "wasted time".
Time management for a 1st time independent restaurant start up is typically more of a problem than it is for restaurant chains with proven franchise style operating systems. Management's time is more scripted by the proven franchise style operating systems described in proven restaurant concept operations manuals.
Tom Wilscam's book is a wonderful resource for anyone wanting to see how a startup restaurant consultant can help in making their restaurant a success. The way he presents the information is interesting and easy to understand. The book is well organized, well edited and well developed. The cover is eye catching.
For more than 40 years, Wilscam has operated and helped others start restaurants. His experience has shown him the importance of having a proven concept, standardized operating procedures and the ability to help the new restaurant owner succeed.
Besides individual restaurants, Wilscam also helped launch the Einstein Bagel Company, Juan's Mexicali and other restaurants that have become franchises through the application of standardized procedures. For more information about W&W Restaurant Group and how Tom Wilscam can show you how a startup restaurant consultant can help your business succeed, visit his website.

Tuesday, September 11, 2012

Facts About The Restaurant Industry

Restaurant Industry

One very important fact about the restaurant industry, is the fact that you absolutely need to keep consistent portion control. Ingredients are purchased in weight, count and volume. You will need to calculate the cost of all ingredients in a recipe. Total the costs and divide this by the food cost you want to charge for a menu item. This way you will have a price for your menu for this item.
In the restaurant industry, you will need to count all ingredients. As an example, a cheese burger with tomato, lettuce, and mustard on a wheat bun with a small bag of potato chips has a total cost of $2.10. If you want to get a 30% food cost for this item, you will need to divide $2.10 by 30 % (.30), which will give a menu price of $7.
Try to keep your food costs between 22 and 34%. If your food cost is 22%, it will mean you will be spending 22 cents of every dollar for food. This would leave you 88% of every dollar to cover labor and other expenses.
If you want to use the factoring method, you can multiply the cost of ingredients by three. This will only give you the cost of the menu item and not include other costs.
When you use gross margin pricing, the formula is profit minus the cost of goods sold divided by the net sales. For instance a gross profit margin of 33:1 means that for every sales dollar, you will have 33 cents to cover other expenses. This is the best for calculating a dish with a high ingredient cost in the restaurant industry.
The Prime Cost method works by adding the cost of labor and cost of food, then add a percentage for profit. This method is good in the restaurant industry for dishes that need a lot of preparation.
Restaurant IndustryCompetitive Pricing matches what other restaurants charge for the same product, with what you charge. Compare the prices by studying the menus, and price your product not much higher or lower than what others are charging.
The restaurant industry views combination pricing as a method that uses all methods- factoring, gross margin, prime costs, and competition. They try to balance prices of the competition with your costs and what you need to make.
ChefTec Software- will allow you to customize reports and print out inventory reports, recipes, make up ordering lists and analyze recipe and menu costs by portion.
PC-Food II- Is an inventory and marginal management system for use in all food service establishments. You can calculate and keep food costs down, and keep track of selling prices based on the margin you desire. You can generate displays and reports, export files. You can use already programmed recipes, or add your own recipes to the list and generate them whenever you want them. This and so much more is available on this software.
You will find plenty of restaurant software on the internet.
Mario Churchill is a freelance author and has written over 200 articles on various subjects. For more information on restaurant industry checkout his recommended websites

Wednesday, August 29, 2012

Common Sense Has Left The Restaurant Industry

Restaurant IndustryMy brother came over this morning and he started telling me about his date Saturday night...well not so much about his date but about the great experience he had at The Yard House...the exceptional service, truly well prepared food and did he mention the awesome service...which got us on to this jag about the state of "service" in our Industry...not a new one to us or anyone else who decides to go out to eat in a full service restaurant these days.
We are all aware that the day of the 6000-15000sf restaurant is largely a thing of the past...even the popular casual dining chains have lessened their footprints to 3000-4500sf. The reason...Labor takes a large staff and the willingness to spend on employees to properly staff a large building in order to give good, much less great service.
In addition to downsizing the units the corporations kept growing and the need to pay the higher corporate costs put pressure on the the in their infinite wisdom the concept of "Minimal Staffing" was enacted and budgets were made order for anyone to make a bonus, not to mention keep their jobs, the focus turned from the dining room to the clock...and this friends was the end of service as we knew it!
Now, with their heads buried in the books and corporate ass saving, the people in charge have forgotten that by definition they are THE "Service & Hospitality" Industry, where exceptional service is what brings people back again and's what differentiates... Now we are in the business of cutting labor to meet a budget in order to pay people at the top large bonuses....
Restaurant IndustryAs to the Guest...well the corporate attitude is "there are plenty of people where they came from... hey we can throw out some coupons and discounts that will not affect our labor dollars...lets do that to get new people...and don't forget...people are stupid...they'll come back anyways..."
(Coupons...that's a whole other rant...)
When we came up in the Industry we all had budgets...every business does...but when the organizations get so large that in order to sustain them the individual unit's labor budget is cut to the point that service is an altogether thing of the past...and then to make it worse...EVERY year the labor budgets are less than the year past...
Lets look at a simplified example of how this works...
#1 Rule in the Industry - Hot Food Served Hot
- need an expeditor to organize the food coming out of the kitchen in order to not get cold
- need a food runner to take the food out to the dining room
- need a server to take order, bring drinks, serve food and care for guests
In order to save labor dollars most companies have directed their units through aggressively cut budgets, to eliminate the Expeditor and Food Runner and have the servers pick up the slack...and hey...while we're at it, let's get rid of the Pantry Person and the servers can make the salads as well...hey and we really don't need to have a hostess on all the time...let's have the servers watch the front door and answer the phone as let's tell the managers that they need to work harder to displace labor in case it's needed...but be available to pick up coupons from every table and don't forget to "touch every table"...and make sure that you call the supervisor to explain why your labor is off....

Friday, August 24, 2012

Customer Service in the Food and Restaurant Industry

Customer service goes a long way
Restaurant Industry
In a tough economy, people are thinking twice about whether to eat out or cook at home. Don't let bad customer service be the reason they decide on the latter. Customer service provides a quick and lasting impression of your business, and in a competitive industry like the food and restaurant business, first impressions can be everything. Give your customers a reason to stay loyal to your business by providing excellent customer service in addition to excellent cuisine.
Why is good customer service so important?
Customer retention is one of the biggest goals for any company, and quality customer service is an easy and effective way to achieve this goal. According to the Institute of Food Technologists, a nonprofit scientific society whose members work in food science and technology, a customer will tell five to seven other people when they experience an unpleasant incident. Poor customer service can result in not only losing the customer who experienced it forever, but it can also deter potential customers from considering your restaurant the next time they are craving a double cheeseburger.
Tips for creating a positive customer experience
Customers know that their business is vital to your success, and they also know that they have the power to take it elsewhere if they do not receive the service they deserve. Fortunately, it's the little things that make a customer feel their visit was worthwhile. A genuine greeting and a smile when they walk in is a good start. The appearance of both the store and employees should be neat and clean. For regular customers, try to remember their names and orders if they always get the same thing. You can even use customer service as a means to increase your profit. Politely offer to up-sale a meal, or offer a suggestion to complement an entrée, such as a bottle of wine.
What if the damage has already been done?
If you have a customer who is unsatisfied, do not get frustrated. Exercise patience, listen to their problem, and apologize for any mistakes on your part. If there was a relatively small mistake, offer a discount off their meal. For larger mistakes, consider giving them their meal at no charge. In addition, a good way to convince a customer to come back after a bad experience is to offer them a free or discounted meal on their next visit.
Encouraging employees to comply
Because your employees have the most contact with the customer, it is important to have a clear set of expectations for customer satisfaction, and make sure every employee is aware of it. A rewards program or bonus program can help to boost employee enthusiasm. Consider throwing a staff party if a month passes without any customer complaints. Likewise, if a customer compliments one of your employees for providing an exceptional experience, see that they receive some sort of bonus or recognition.
Service your way to success
Restaurant Industry
Providing excellent customer service has always been an important ingredient for success, especially in the food and restaurant business. Eating out has become more of an unnecessary luxury than it was considered even a few years ago, so it is more important than ever to let your customers know that you appreciate their business. Provide your customers with exemplary customer service to keep them coming back for seconds.
Linda Hansen has over six years of journalism experience and currently markets promotional products at Absorbent, Ink -- the promotional products people.

Thursday, August 16, 2012

EPoS Systems For Contemporary Restaurant Industry

Restaurant IndustryCreating your mark in restaurant industry is not an easy job. This sector of hospitality is highly competitive and labor intensive. That is the downside of running a restaurant - it takes years to build up a strong reputation but it wouldn't take less than a week for your customers to remove you from their good books. There are several aspects that can annoy a customer like less than excellent food quality, unsatisfactory mannerisms of your hotel staff, mixed up orders - the list can go on.
With the introduction of EPoS technology things have changed. EPoS stands for electronic point of sale. EPos has simplified business process in various sectors of our industry; however, its contribution in organizing transactions in catering industry has been most remarkable. In fact, you might find that the EPoS terminal installed in a fast food store or restaurant is more advanced than those employed by other forms of retailers. Restaurant EPoS systems are specially customized for specific purposes. It allows the house staff to interact with chefs and waiters attending the kitchen. EPoS also facilitates instant tracking and processing of orders and overall management of stock.
Restaurant EPoS facilitates effective communication transmitted via wireless terminals. This wireless system connects the staff stationed at various parts of a hotel or restaurant. Thus messages and orders can be passed on without any delay. The waiter who takes the order enters the details through EPoS machine, and the list will be instantly printed out at the terminal installed in the kitchen. The system reduces the clutter created by the staff members as they need not move around anymore while attending to the customers and executing their orders.
Restaurant IndustryBy using EPoS machines, the cashier can speed up the entire billing and payment procedure. This saves a lot of time for the customers as they can clear off immediately after finishing their food. Consequently, the customers waiting for tables can now get through the queue quite faster.
Roadside restaurants and fast food outlets have truly benefited from the implementation of EPoS systems. This is especially true in case of drive- through restaurants and quick service fast food stores. In such places, there are lots of customers to be satisfied but within an extremely short span of time. Right from the process of recording orders to paying the bills, the entire communication between the in-store personnel takes place through wireless messaging device. This makes the working quite faster and allows the restaurant to serve more number of customers. Even the customers become happy because they need not wait for their turn to have the menus delivered or bills processed. Also, the staff can avoid making mistakes in taking orders and creating bills.

Friday, August 10, 2012

Investing in Restaurants - Trends in the Restaurant Industry for 2011

Restaurants that show the farm sources for their food or are located on farms have also soared in popularity. Farmers have been made into celebrities; celebrities have become farmers in an attempt to follow up massive sales in books about returning to whole foods. Pleasing health food fans, environmental activists, and the tide of citizens wanting to return to real food rather than highly processed chemical equivalents, these types of restaurants or restaurant chains are expected to perform well for investors venturing into investing in restaurants.Restaurant Industry
From food trucks to back to the farm restaurants, as the restaurant industry climbs back from the abysmal years of the economic crash, there are investment opportunities galore for investing in restaurants. Investors who want to start investing in restaurants might want to take a look at predicted trends in the restaurant industry. Some formerly widely popular restaurants have peaked out, but there are some emerging trends that are slated to explode the next few years. So, what are the big ideas expected for 2011 and 2012?
Mobile food has been big business in 2010. Food trucks touting everything from tacos to sandwiches to Italian cuisine have found success with low overhead and the ability to take the food directly to a crowd of potential customers. Well-known restaurants have expanded into this area with catering and recognizable brand food trucks as well. 2011 is expected to bring increased governmental regulation of this niche of the restaurant industry which may affect profit margins. However, it is still expected to be a good bet for investing in restaurants.
Southern comfort food, soul food, and Old Italian favorites are also making a strong come back. When the economy has tanked and everything is feeling somewhat uncertain, people turn back to the favorites that marked their childhood memories (or, what they wished their childhood memories were). Investing in restaurants that specialize in these types of food can be very profitable. However, with any of these trends, investors should do appropriate amounts of research themselves. Some well-known comfort food restaurants are in heavy debt and have cut all expansion. Some food trucks do not maintain an efficient enough bottom line, even with low overhead, to sustain substantial profits. The location of a farm restaurant may not have access to a large enough customer base. There are exceptions to every trend, especially in the highly risky business of the restaurant industry.For more information on investing in investment opportunities usually or normally not found in the marketplace, click here!
Sean Johnson is an Investment Advisor for an Investment Referral Service for investors requesting information on specific investments.

Friday, July 27, 2012

Are You Ready for Mobile Smart Phone Payments Yet - Restaurant Industry Topic

Restaurant Industry
The Game is Changing and Your Cheese is About to Be Stolen - Again!
Boy, it sure has been a rough couple of years in the restaurant industry, and now that I think about it, the last three years have been rather tough - question is - is it going to get any better? Well, yes there are some good signs on the horizon, and also a few thunderclouds. For instance, the consumers are starting to come back, but commodity prices have risen sharply, consumers are using their credit cards less, and in walks "mobile smart phone payments" from a side door. Yes, the stage is set, and new characters are coming through.
But like anything, chaos and crisis often provides opportunity for the smart entrepreneur. Now let's assume that you are a smart entrepreneur, and your customers are already asking you if they can use their mobile iPhone App to pay for their meal. If you say no, you will be met with a grimace, and a dirty look, like what's your problem? Remember, this up-and-coming generation is quite demanding, and they want to do business on their terms, and if you want their money you should be cognizant of this fact and work to satisfy their desires and needs to play with their high-tech toys, and personal tech devices.
Restaurant Industry
So my question to you is are you ready for the mobile smart phone payments blitz, if you are, you might find yourself in the middle of a barrage of customers which shows up out of the blue, in some sort of a smart mob social networking get-together at your restaurant. Imagine a lonely Tuesday night with not that many patrons, and you are trying to choose which waitresses and busboys to let go home early, the night is a bust, the kind that takes its toll on a restaurant operator.
But then all of a sudden 50 people walk through the door, and start ordering up a storm on their iPhone, mobile smart phone payment apps. You are in business now, and you just made your whole week. Life is good right, absolutely, but what if you don't take smart phone payments, then what? Well then my friend, you won't get that business, and we wouldn't be having this conversation would we? It is definitely something to think about. And therefore I ask that you please consider all this and think on it, because that future is rapidly approaching, and if you want the business you are going to have to meet the new high-tech consumer demands. Please consider all this.
Lance Winslow is the Founder of the Online Think Tank, a diverse group of achievers, experts, innovators, entrepreneurs, thinkers, futurists, academics, dreamers, leaders, and general all around brilliant minds. Lance Winslow hopes you've enjoyed today's discussion and topic. - Have an important subject to discuss, contact Lance Winslow.

Thursday, July 12, 2012

Restaurant Industry

Restaurant Industry
Restaurant Industry
Add caption
I placed my first bet on the restaurant industry years ago. I was a young army non-commissioned officer with a promising military career for the taking. The only problem was, I wanted to return to the civilian world and build a career in the restaurant industry.
Just three days before my discharge date my unit's Sergeant Major, who had been both a supporter and mentor, dropped by the dining facility. In a comical attempt to encourage me to re-enlist he said "Wallace, it's not too late to change your mind and save yourself. I hear that in the civilian world, the lines for soup in New York stretch all the way to California". I smiled and replied, "With all do respect Sergeant Major, I guess that means the civilian world is in need of some well trained foodservice people". I noticed him chuckle and shake his head as he walked away. A few months later I was in college pursuing my degree in Hotel & Restaurant Management.
Since then the industry has grown in ways that few could have predicted. My initial bet on the industry has paid off in spades. As a hospitality student, classically trained chef, restaurateur, and corporate executive, I have been privileged to experience the restaurant industry from several perspectives. Personal bias aside, I can say with certainty that there are many good reasons to know that the restaurant industry is still a great bet, in spite of our current economic storm. Here are seven reasons worth considering:
1. Needs Based - Restaurants serve two basic needs that are not going away any time soon. I am talking about the need to eat and the need to connect with others. When it comes to eating options, the industry has gone to great lengths to provide convenience. You can walk up, sit down, take it out, drive-through, and even drive up for curb-side services. When I travel outside of America, I am always amazed at how common it is for people to gather in town centers and open air cafes in the evenings to connect. Here at home, operations like Starbucks and casual bars have become our necessary "Third Place" for connecting away from home and work.
2. Lifestyle Driven - Generations "X" and "Y" have grown up eating meals prepared away from home. For them it is as common and expected as electric washers and dryers became for the previous generation. For these Americans, I don't envision a massive or permanent return to cooking any more than I envision a return to scrubbing boards and clotheslines.
3. Decentralized - Unlike some industries that have suffered the most recently, the restaurant industry has remained decentralized with resources and assets dispersed across the country. In the case of some of the biggest industry players, use of a franchise business model, has also provided dispersing of capital investment and risk. What this means is that the industry is not subject to a massive implosion like the automobile or banking industries have experienced.
4. Massive Scale - With more than a half trillion dollars in annual U.S. Sales and nearly a million restaurants nation wide, the restaurant industry's size attracts support from a wide range of industries. From back office technology to cooking equipment, companies across the globe invest heavily in research and development with the understanding that there will be a market for their best innovations.
5. Developed Infrastructure - Over the past few decades the restaurant industry has amassed an enviable infrastructure. From state-of-the-art distribution and logistics to national online reservations and employee training systems the industry has moved closer to being "Plug-and-Play" for even the smallest operators.
6. Entrepreneurial - In spite of the industry's size, according to national restaurant association statistics, 7 out of 10 restaurants are single unit operations. Fortunately, the barriers to entry into the industry have remained relatively low. As a result the industry enjoys constant bottom up innovation. The next trend is as likely to come from a small Cuban Diner in Miami as a heavily staffed test kitchen in Dallas.
7. An Affordable Luxury - Now once the economy begins to recover there will be some industries that will come back slower than others. One of the reasons restaurants in general have not fallen as sharply as others sectors, is that, eating out is still an affordable luxury even in difficult times. Most consumers don't have to take out a loan to enjoy a meal out. For this same reason pinned-up demand should drive strong growth as things recover.
For all the reasons listed the restaurant industry is an exceptional source of opportunity for millions of Americans, who own, manage, and work in the industry across the nation. It stands and will continue to stand as an excellent example of sustainable healthy capitalism at its best. You can bet on it!
Shed Wallace is the founder of [] and the [] blog. His career highlights include culinary and food & beverage director roles with leading hospitality companies like Darden Restaurants and Royal Caribbean Cruise Line.