Restaurant sales – Goniyon http://goniyon.net/ Thu, 26 May 2022 19:26:14 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://goniyon.net/wp-content/uploads/2021/09/icon-3-150x150.png Restaurant sales – Goniyon http://goniyon.net/ 32 32 Restaurant sales continue 15-month growth streak https://goniyon.net/restaurant-sales-continue-15-month-growth-streak/ Thu, 26 May 2022 19:26:14 +0000 https://goniyon.net/restaurant-sales-continue-15-month-growth-streak/ The good news for the restaurant industry is that sales growth remained positive in April. The industry saw a 15-month streak of year-over-year sales improvement. The last time industry sales growth was negative was in February 2021, when restaurants hit a new high in the number of COVID cases at the end of 2020. But […]]]>

The good news for the restaurant industry is that sales growth remained positive in April. The industry saw a 15-month streak of year-over-year sales improvement. The last time industry sales growth was negative was in February 2021, when restaurants hit a new high in the number of COVID cases at the end of 2020. But the bad news is that the rate growth slowed considerably, to 5.3% in April. lowest sales growth over the same period. Further weakening is expected in the coming months as the industry continues to overcome increasingly difficult selling hurdles.

The most concerning news for restaurants comes in the form of the steady erosion of customer numbers in recent months. Traffic growth declined by 2.7% in April, which represents a slowdown of 1 percentage point compared to the growth rate in March and is the second consecutive month in which traffic growth has been negative from one year to the next.

In April, restaurants were able to deliver a strong service experience to their customers. Net sentiment of service* improved by 7 percentage points year-over-year during the month. In fact, this month posted the highest net service sentiment since the start of 2021. This is good news for an industry that has been heavily challenged by staffing challenges, which have hampered execution since last spring.

Net food sentiment was down slightly year-on-year (down 0.7 percentage points), but mainly due to a difficult comparison to last year. In fact, April 2022 recorded the second highest customer sentiment for restaurant food since the start of 2021; the only month with higher sentiment was April of last year. However, net food sentiment became more positive by 1.2 percentage points in April 2022 compared to the previous month.

Financial metrics are same-store metrics and reported on a one-year comparison, unless otherwise noted.

*Net sentiment is the percentage of positive mentions minus the percentage of negative mentions in online restaurant reviews.

Customer sentiment of value is negative for off-site offerings, much lower than for on-site restaurants

It’s no secret that prices across the economy are rising at an exorbitant rate and wiping out gains made by consumers through rapid wage increases. Restaurants have been no exception, and the biggest concern is that the extraordinary hikes in menu prices are far from over. According to a recent survey by Black Box Intelligence™, 45% of restaurateurs estimated that their menu prices would be at least 7% higher by the end of 2022 compared to their average level at the end of 2021. 27 other % of businesses expect their menu prices to increase between 5% and 7% by the end of the year.

With prices rising at such an accelerated rate, consumers are no doubt feeling the pressure and starting to make purchasing decisions based on the associated impact on their budget. Throughout the pandemic, the sense of value has diminished in its relative importance as customers have focused on other areas of the restaurant experience as key drivers of their dining preferences. But that should change soon.

One of the interesting new dynamics around customers’ sense of value is occurring around off-premises restaurants, which has increased its relative importance for most restaurants as its share of total restaurant sales has held steady at levels higher than before COVID. Net sense of value is much lower for offsite offerings than for restaurants, meaning that overall net sense of value scores are reduced by the greater offsite activity.

For full-service restaurants, the sense of net worth is 12% for dining out. For those purchased for offsite consumption, the net sense of worth drops to -37%, a dramatic fall of almost 50 percentage points. For limited-service brands, value sentiment was negative even for restaurants in Q1 2022 at -7%, but customers were much more negative when assessing the value they were getting through off-premises channels. Off-premises net value sentiment was -32%, a significant drop of 25 percentage points from the restaurant.

What are some of the factors driving the overwhelmingly negative sense of value attributed to dining in off-premises restaurants? In the case of delivery, the presence of delivery charges may be the cause of some of this erosion of the sense of value. These meals would become more expensive once delivered than the equivalent recovered or consumed at the restaurant. But more than anything, it’s the fact that food sentiment is also much lower for off-site offerings that pushes the value scores down. Customers frequently complain of cold food, incorrect orders, and long wait times when ordering through offsite channels. They are aware that they are paying much more for these meals than a few months ago and are quick to report when the meals they receive do not meet their expectations. With higher prices, expectations also tend to rise. Value is more than just price; it’s relative to what you get for the money you pay. In the case of the outdoors, what you get may not be as good as what you get eating in a restaurant and service experience, and expectations may simply be higher considering the money spent on all channels.

Regional and market performance

Customers in Orlando, Florida showed the most positive sentiment for restaurant chains across several key attributes. In April, this metropolitan area topped the list based on the most positive food, ambiance, and sense of value. Raleigh, North Carolina was the most positive market for service and intent to return, while Houston was the designated market area with the strongest drink sentiment.

Beyond Orlando, the major markets that had the highest net sentiment for restaurant food during the month were Raleigh, Tampa, Florida, Indianapolis and Houston. The top markets for the most positive service sentiment behind Raleigh were Orlando, Tampa, Houston and Charlotte, North Carolina.

On the other hand, major West Coast markets had the lowest sentiment scores for most dining experience attributes. San Francisco had the lowest net sentiment for food, service, and intention to return, while Sacramento was at the bottom of the list for ambiance. Seattle was the DMA with the lowest drinking sentiment.

California, in particular, posted lower net sentiment scores than other regions of the country. In fact, the top three DMAs with the lowest net restaurant sentiment are in San Francisco, Sacramento, and Los Angeles.

The Restaurant Guest Satisfaction Snapshot™ (RGSS) is produced using data from Black Box Guest Intelligence™. Guest Intelligence tracks over 190 brands to assess guest satisfaction and is the only online tool that integrates with operational performance data to validate the impact on financial performance. The dataset focuses on six key attributes of the restaurant industry experience: food, service, ambience, drink, value, and intent to return.

The RGSS algorithm determines the top ranked brands based on sentiment. Brands included in this monthly snapshot must have a total of at least 250 mentions for the month. Restaurants must also have a minimum number of units to be eligible. DMA ratings only consider the 25 largest areas.

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How to Increase Restaurant Sales: A Guide https://goniyon.net/how-to-increase-restaurant-sales-a-guide/ Wed, 18 May 2022 16:25:10 +0000 https://goniyon.net/how-to-increase-restaurant-sales-a-guide/ Image source: Getty Images Do you want to improve your restaurant’s cash flow? Find out how to increase your restaurant’s sales by providing great online and in-house experiences. There are a million different ways to increase sales. Some, like a one-time promotion, will put a few extra dollars in your pocket during an off-season. Other […]]]>

Image source: Getty Images

Do you want to improve your restaurant’s cash flow? Find out how to increase your restaurant’s sales by providing great online and in-house experiences.

There are a million different ways to increase sales. Some, like a one-time promotion, will put a few extra dollars in your pocket during an off-season. Other tactics, such as launching a website, generate income throughout the year. Building a sustainable business takes a bit of both. Learn how to increase restaurant sales with these tips.

1. Give customers the experiences they want

Expanding options and giving customers more ways to order, pay for, and receive food and beverages is key to increasing restaurant sales. After all, your guests want two things: convenience and choice. These two things also give people control over their experience.

Before the pandemic, the National Restaurant Association reported, “About 60% of dining opportunities are now offsite in all forms, including drive-thru, takeout and delivery.” Of course, that number jumped during COVID-19. Although people are eager to return to in-person experiences, off-site dining will remain popular.

For each of the following experiences, ask yourself if you make it easy and offer customers multiple ways to do it:

  • Order food and drinks: Deliver seamless experiences through mobile and online ordering platforms, train staff to take orders over the phone, and improve internal ordering experiences.
  • Pay for meals: Accept a variety of payments, including credit cards, cash, gift cards, and mobile or contactless payment methods like Apple Pay or PayPal.
  • Get food: Give people more ways to enjoy your cuisine by offering curbside delivery, home delivery, in-store pickup, catering, drive-thru, outdoor dining, and pop-up events.

2. Invest in your staff

Customers see your restaurant team when they walk through the door. Callers speak to a member of your team for orders, reservations, complaints or simple questions. And when your guests walk through the door, your staff will be their last contact.

Your employee’s words, actions, and facial expressions affect restaurant customer service in every instance. Help staff increase sales by providing:

  • General phone scripts to guide less experienced workers on calls
  • Servers with short tip cards showing natural ways to sell food or drink
  • Point-of-sale (POS) reminders, such as a brief list of items to recommend
  • Private comments that focus on actionable suggestions, not what they hurt
  • Benchmark timeframes, such as “Come back after two bites or five minutes”
  • Upsell incentives by tracking sales by employees and products in your POS system

Point of sale report showing restaurant food sales.

Filter point of sale reports by employee and date to see which team member sold the most items in your upsell competition. Image source: author

Source: getbento.com.

3. Take advantage of free marketing tools

Although advertising can increase sales, it is expensive. And few companies can afford to increase their advertising budgets when faced with pandemic restrictions or financial challenges. However, you can learn how to improve restaurant sales without advertising.

Start by reviewing your restaurant’s current marketing plan and identifying areas for improvement. Can you improve engagement rates on certain platforms or take advantage of free tools provided by third-party vendors or services?

Consider investing time in:

  • Google My Business (GMB): According to BrightLocal, an average of 398 people per month take an action by viewing a typical restaurant’s GMB page. Increase your sales by ensuring your information is up-to-date while frequently adding photos and encouraging reviews.
  • Yelp: People turn to Yelp to read reviews and find places to eat. In addition to maintaining your business listing, you can increase your sales by responding to reviews and rewarding customers with a special offer when they register with Yelp.
  • Facebook: It’s hard to increase organic reach on Facebook, but that doesn’t mean you should give up. Instead, keep your business page up-to-date, add a menu, respond to reviews, and develop a consistent posting schedule promoting high-profit items.
  • Instagram: As with Facebook, organic reach is difficult on Instagram. Still, people love food photos, especially when they’re hungry. Post high-quality images during lunchtime and between 7-9 p.m. to grab attention.

4. Put technology to work

According to the National Restaurant Association, “customers are most receptive to consumer-facing technologies such as drive-thru improvements, order accuracy tracking, and frictionless mobile ordering.”

Your restaurant software, when used correctly, can increase sales. A point-of-sale (POS) system offers reports highlighting peak hours, top-selling food and beverage items, and staff performance information. This data helps you design promotions and menus that give customers what they want while guaranteeing profits.

Plus, simple technology tools like digital in-store menu displays make it easy to upsell menu items in your restaurant. Sales development ideas, such as adding TVs with mouth-watering food images and limited-time specials, capture diners’ attention.

5. Use a multi-channel approach to loyalty marketing

Your restaurant customers appreciate rewards, especially those looking for added value. Using a loyalty program is one of the best ways to increase sales in a restaurant. Boost your loyalty subscriber list by:

  • Design loyalty campaigns throughout the year to increase registrations
  • Sharing testimonials and incentive screenshots on social networks
  • Sending promotional coupons to mobile phones via text messaging
  • Train customer-facing staff to raise awareness and get sign-ups
  • Added table tents displaying your loyalty program benefits
  • Encourage loyalty members to share promotions via email with friends and family

6. Develop reproducible systems

Consistency is crucial for your business. But maintaining consistent service and food is a common challenge for restaurant businesses. The best way to ensure customers can rely on your business to deliver great experiences every time is to develop systems.

Improve restaurant sales by standardizing your:

  • Training framework: While each member of the customer-facing team has their own personality, it’s important to create service standards and develop an ongoing training plan around those standards.
  • Monitoring program: Owners and management should communicate with guests after negative experiences or organized events. Design a timeline for follow-up, list outreach platforms, and track responses in your customer relationship management (CRM) system.
  • Revision strategy: Responding to reviews shows you care about customer service. Create a list of review channels, develop customizable response templates, and set a weekly reminder to check and respond to reviews.
  • Marketing of restaurants: You want people to know your brand, so it remains a priority. Drive awareness by developing brand guidelines that specify your colors, fonts, and tone.
  • Kitchen: When people know what to expect, your sales increase. Ensure consistency of experiences by controlling portion sizes and recipes. Additionally, encourage quality checks by staff and management.

7. Make your website stand out

Although websites are the norm for many businesses in the food and beverage industry, small businesses with strong local sales may not have spent the time and money building websites. of restaurants. However, the pandemic has highlighted the importance of a digital presence.

Put your site to work and start growing restaurant sales by designing a mobile-friendly website. Restaurant owners can:

  • Take advantage of website services provided by your point-of-sale system, such as a mojoPOS site
  • Use services like ChowNow, which provides an optimized site and online ordering capabilities
  • Increase your sales by using pop-ups and banners promoting your latest special dish
  • Add plugin like RestroPress to your WordPress site to accept online orders

RestroPress WordPress plugin showing restaurant order history.

Take control of your WordPress site using a plugin designed for restaurants. Image source: author

Source: WordPress.org.

Meet and exceed customer expectations

There are hundreds of tactics you can use to increase your restaurant sales. But managing customer expectations and meeting them every time will yield high returns. Satisfied customers recommend your business, they spend more money and come back again and again.

Unfortunately, some restaurants fail because customers see no reason to choose your establishment over local competitors. Combat this by clearly defining what sets your restaurant apart and consistently meeting those expectations.

Create a plan to increase restaurant sales

Whether you’re diversifying your revenue streams or leveraging customer retention, strategies to increase restaurant sales must balance customer needs with your budget. A one-time marketing ploy won’t have the same lasting results as ongoing multi-channel efforts designed to drive sales and increase brand awareness.

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Soaring gas prices are cutting restaurant sales and profits, studies show https://goniyon.net/soaring-gas-prices-are-cutting-restaurant-sales-and-profits-studies-show/ Wed, 30 Mar 2022 18:20:20 +0000 https://goniyon.net/soaring-gas-prices-are-cutting-restaurant-sales-and-profits-studies-show/ Photography: Shutterstock Nearly half of U.S. consumers are cutting restaurant spending due to soaring gas prices, as pain at the pump may result in shorter orders and travel to cheaper places, according to a new report from research firm Technomic. A separate study found that restaurateurs also face the impact on their own budgets. Around […]]]>

Photography: Shutterstock

Nearly half of U.S. consumers are cutting restaurant spending due to soaring gas prices, as pain at the pump may result in shorter orders and travel to cheaper places, according to a new report from research firm Technomic.

A separate study found that restaurateurs also face the impact on their own budgets. Around 66% of operators participating in a survey by the Alignable Research Center said their post-pandemic recovery had been delayed by higher energy costs, primarily in two ways. Higher transportation expenses and other increased costs faced by manufacturers and distributors are funneled to the restaurants they supply, compressing margins, respondents said.

Additional pressure comes from the higher cost of refueling the delivery vehicles that transport meals to customers’ homes and offices, the survey found. A sharp increase in off-site activity has been a lasting effect of the pandemic, amplifying any increase in the costs of this service.

Technomic found that the primary impact of rising gas prices is currently slightly greater for limited-service concepts than for full-service operations. About 49% of consumers surveyed for the report said they cut back on spending at quick service locations, compared to 48% who said they were more conservative when visiting table service locations.

The researcher suggested the impact could change as consumers become more adaptable to using more of their income to buy gasoline. Its white paper explains that past spikes in prices at the pump have encouraged consumers to economize when they want a restaurant meal, instead of skipping the opportunity altogether. Patrons of fine restaurants are turning to less expensive and more casual places, while patrons of the latter are opting for limited-service options.

“This slide down the price scale is happening, rather than a massive shift to more meals on wheels,” the white paper notes.

Technomic also pointed out that past gasoline price spikes have prompted consumers to limit their orders, “forgoing extras such as desserts, appetizers and extra drinks.”

No other area of ​​consumer spending is as likely to be affected as restaurant usage, Technomic found.

Half of motorists in the study said soaring prices at the pump will have a “significant” impact on how they spend their disposable income.

Technomic is the research sister of Restaurant Business.

The Alignable Research Center was created in March 2020 by Alignable.com, a referral network for small businesses, specifically to track the industry’s efforts to respond to the pandemic.

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all our content. Register here.

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A Guide to Accurate Sales Forecasting for Restaurants | modern restaurant management https://goniyon.net/a-guide-to-accurate-sales-forecasting-for-restaurants-modern-restaurant-management/ Thu, 24 Mar 2022 07:00:00 +0000 https://goniyon.net/a-guide-to-accurate-sales-forecasting-for-restaurants-modern-restaurant-management/ Sales forecasting is always tricky in the restaurant world. This is partly because the industry is inherently unpredictable. Under normal circumstances, you can use sales figures from previous years to predict the year ahead – but, as we emerge from two years of COVID shutdowns, staff shortages and general unrest, sales figures previous ones are […]]]>

Sales forecasting is always tricky in the restaurant world. This is partly because the industry is inherently unpredictable. Under normal circumstances, you can use sales figures from previous years to predict the year ahead – but, as we emerge from two years of COVID shutdowns, staff shortages and general unrest, sales figures previous ones are certainly not reliable.

For many restaurants, predicting future sales in a post-pandemic world is just as difficult as predicting sales for a brand new business.

So, maybe it’s worth revisiting exactly how you forecast sales for a new business.

Let’s follow the case of a fictional restaurateur. Her name is Chloé and her dream is to open a bistro by the sea. She chose what could be the perfect place: a recently liberated cafe on the seafront. She hopes to renovate it and turn it into the bistro of fish of his dreams, welcoming happy swimmers all year round.

However, before she can do that, she has start-up costs. She needs to upgrade the property, get the relevant certificates, etc.

And before she can do anything, she needs a business loan.

Chloe’s plan is charming and she’s very enthusiastic – but lenders don’t just deliver on charm and enthusiasm. They will want to see returns on their investment. Chloé must therefore present them with a sales forecast.

Forecasting restaurant sales is not always easy. There are a whole host of factors that can come into play such as economic conditions, weather, food trends or even our old friend the pandemic.

Overall, you can’t rely on things like an average e-commerce conversion rate to predict a restaurant’s sales.

However, our Chloé is not an amateur. She has a background in restaurant management, so she already has a good understanding of the industry and market she will be working in. She is confident that she can make reasonably accurate sales forecasts.

How does she do that? Let’s take a look:

1 – Capacity calculations

First, Chloe sits down and calculates her base capacity. That is, the average amount she should be able to take each day.

Chloé’s bistro will be open for drinks and breakfasts during the day and will offer a limited number of hot dishes (reservation only – it’s a small place!) in the evening.

She’s confident in her food and her staff, and she’s good at things like outbound lead generation, so she is convinced that she can build customer loyalty. But she needs more than trust to approach lenders. So she starts doing calculations.

Assuming that 80% of the seats are taken for both sessions and that each client orders something at an average price, Chloe can work out a rough baseline calculation for a trading day. She can then multiply her day’s trading average by the number of typical working days in a month to arrive at an average monthly capacity estimate.

She can also add the cost of extra extras, like puddings, side dishes, etc., into her base ability calculation – whether or not she does this depends on how hard she intends to push them.

Now, those estimates are all pretty good – but what about Chloe not snatching the 80% seat-filled figure out of thin air? What does she base her estimates on?

Well, that’s largely an educated guess.

Fortunately, Banks understands that educated guesses are the best tool Chloe has when it comes to calculating base capacity. And, since Chloe knows the industry well, her educated guesses are more educated than most.

However, Chloe can do a few things to make her predictions a little more accurate and, therefore, a little more attractive to lenders.

2 – Adjustment of expectations

If you’re experienced in the restaurant business, you’ll immediately spot a problem with Chloe’s base capacity calculations: Not every day is the same. Not even close.

For example, during the summer, Chloe’s seaside bistro is likely to be much busier than during the winter. Likewise, it will likely trade more on weekends than on business days. And some holidays (Valentine’s Day, for example) can be busier than average, while others (Christmas, for example) will leave the bistro empty.

This is where the adjustments come in.

To get an idea of ​​when she can expect the most personalization, Chloe dives into market research. She unearths year-over-year trends for area restaurants and studies the average monthly revenue of her closest competitors.

Chloe’s offering isn’t the same as the other beachfront restaurants, but that doesn’t matter. What she’s looking for here aren’t hard numbers – they’re things like footfall estimates, amount of trade passing through, busiest and slowest times, etc. She can use things like local chamber of commerce stats, area research, competitor research, and even good old-fashioned observation to draw accurate conclusions.

Using all of this, she can start to get a little more precise with her basic calculations. For example, if she discovers that the beach is busy on a Saturday afternoon but mostly empty on a Monday, she can adjust her day-to-day calculations accordingly to arrive at a more personalized average weekly calculation.

Then, it must take this into account in its monthly base calculation. Which means it’s time to get even more specific.

3 – Predict the first year

Just as every day of the week is different, every month is also different. Chloe will need to adjust her monthly calculation to account for the complexities of each individual month. This is especially important for the first year.

For example, even if Chloe opens on the potential busiest day of the summer, it’s likely that her bistro will take a while to get established. Thus, during the first few months, she will have to reduce her basic calculation to take this into account.

Then, it will have to take into account the particularities of each month. For example, February could see a spike in trade during Valentine’s Day, while September is notoriously slow for restaurants around the world.

At this point, it’s wise to start getting technical. Fortunately, Chloe is a bit of a geek. She loves spreadsheets and regularly scours B2B e-commerce sites for good restaurant software.

Opening her technical platform, she enters her estimates into a sales forecasting model. She adds things like average prices, specific prices (for example, she plans to do a set menu for Valentine’s Day, so she adds that in her February row), overhead, overhead, and indirect, attendance estimates, etc.

It gets pretty granular as it works, taking into account things like increased heating overhead during winter months and increased staffing costs during busy months.

However, it doesn’t get so granular that it accounts for every little thing. For example, rather than listing “fish pie”, “chicken sandwich”, etc., for her daily lunch menu, she simply lists “lunch” and an average price. His sales forecast doesn’t have to take every little detail into account – it’s kind of a big picture deal.

Once she has her annual sales forecasts/estimates, Chloe just has to convince her lenders to pay. We trust her – she’s smart and she has a great business plan. They are bound to love him.

However, his predictions aren’t just useful for wowing lenders. It has many applications beyond that. For example, if she’s not sure how much stock to order in June, a look at her sales forecast might prevent her from over-ordering or under-ordering. The same goes for things like seasonal staff.

If she’s feeling smart, Chloe might even factor things like seasonal produce into her predictions. After all, she’s pretty focused on fish, and the catch of the day is likely to change a lot with the seasons. Sometimes she’ll pay more, sometimes less – so her sales forecast could be a big help in determining whether or not the cost of certain catches will be reimbursed by sales.

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2022-03-17 | NDAQ: GRILL | Press release | Muscle Maker Inc https://goniyon.net/2022-03-17-ndaq-grill-press-release-muscle-maker-inc/ Thu, 17 Mar 2022 07:00:00 +0000 https://goniyon.net/2022-03-17-ndaq-grill-press-release-muscle-maker-inc/ Net losses decrease, overall revenues increase, operating expenses and general and administrative expenses improve LEAGUE CITY, TX, March 17, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — Muscle Maker, Inc. (Nasdaq: GRILL), the parent company of Muscle Maker Grill, Pokemoto Hawaiian Poke and SuperFit Foods restaurants, today announced that it will release its fiscal 2021 financial […]]]>

Net losses decrease, overall revenues increase, operating expenses and general and administrative expenses improve

LEAGUE CITY, TX, March 17, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — Muscle Maker, Inc. (Nasdaq: GRILL), the parent company of Muscle Maker Grill, Pokemoto Hawaiian Poke and SuperFit Foods restaurants, today announced that it will release its fiscal 2021 financial results on March 17.and for the year ended December 31, 2021.

Michael Roper, CEO of Muscle Maker, Inc., commented, “Recently released 2021 financial results show a 154% increase in restaurant sales growth and a 28% increase in the net number of restaurants in operation at system scale. Not only have we experienced an increase in our revenue, but we are also seeing our operating metrics improve year over year as new entities are integrated into Muscle Maker Inc.’s overall portfolio of companies. We are seeing improvements in our operating expenses across all major categories, as a percentage of restaurant sales:

  • food and paper costs improved by 2.1%
  • labor costs improved by 31.4%
  • rent improved by 5.3%
  • other operating expenses increased by 5.9%

Additionally, our overall G&A improved 5.6% year over year, even after integrating our acquisitions of Pokemoto and Superfit Foods in 2021.”

Roper continued, “We are very pleased to finally be able to fully execute our growth strategy while improving our liquidity position. Over the past year, we have had several growth-oriented announcements including: the acquisition of SuperFit Foods, the acquisition of Pokemoto, the launch of our Pokemoto franchise strategy which has already resulted in the signing of 31 agreements franchise and the signing of a development agreement for 40 Muscle Maker Grill units in Saudi Arabia. During this period, we also increased our liquidity position. As of December 31, 2021, we had a cash balance of $15,766,703. We believe that our existing cash and future cash flows from our operations and franchise growth strategy will be sufficient to fund our operations, planned capital expenditures and repayment obligations over the next twelve months. As a result, the recent audit allowed the removal of going concern for 2022.”

“Our strategy is focused on growing the Pokemoto brand through strategically placed franchises and company-owned and operated sites, seeding key markets for future franchise expansion. We currently have approximately 15 million dollars in working capital to deploy as part of this strategy and have begun to execute on this plan. We have already signed 31 franchise agreements and opened six new locations in the past few months with three additional locations under construction. We are sharpening our pencils to reduce costs in the Muscle Maker Grill restaurant division while exploring opportunities to co-brand these locations with the Pokemoto brand or convert them entirely to Pokemoto restaurants. SuperFit Foods remains an important part of our business portfolio, and we will focus on expanding our presence in the Jacksonville Florida market by increasing the total number of pickup points while looking for ways to expand the concept as a whole. We expect the full growth engine to come from the Pokemoto franchise and expansion.”

About MuscleMaker, Inc.

Muscle Maker, Inc. is the parent company of “healthier for you” brands providing high quality healthy food options to consumers in traditional and non-traditional settings such as military bases, universities, ghost kitchens, delivery and ready-to-eat meal preparation options direct to consumers. Brands include Muscle Maker Grill restaurants, Pokemoto Hawaiian Poke, SuperFit Foods meal prep and several ghost kitchen brands such as Meal Plan AF, Wrap it up Wraps, Bowls Deep, Burger Joe’s, MMG Smoothies, Mr. Tea’s House of Boba, Gourmet Sandwich Co and Salad Vibes. Our menus highlight healthier versions of traditional and non-traditional dishes and feature grass-fed steak, lean turkey, chicken breast, Ahi tuna, salmon, shrimp, tofu and herbal options. For more information about Muscle Maker, Inc., visit www.musclemakergrill.comfor more information about Pokemoto visit pokemoto.com or for more information about SuperFit Foods, visit www.superfitfoods.com.

About the Muscle Maker Grill

Muscle Maker Grill (www.musclemakergrill.com) offers high quality tasty dishes, freshly prepared with exclusive recipes. The menu, created with the customer’s health in mind, is lean and protein-based. It includes all-natural chicken, grass-fed steak, lean turkey, whole-wheat pasta, wraps, bowls and more. It also offers a wide selection of fruit smoothies in a variety of assorted flavors, protein shakes and supplements.

About Pokemoto

Pokemoto (pokemoto.com) a Hawaiian Poke Bowl concept known for its modern culinary twist on a traditional Hawaiian classic has nineteen locations open in six states – Connecticut, Rhode Island, Massachusetts, Florida, Maryland and Virginia with future franchise locations coming to New York, Massachusetts, Connecticut, Florida, and Mississippi. Pokemoto delivers contemporary flavors with fresh, delicious ingredients that appeal to foodies, health enthusiasts, and sushi lovers everywhere. Guests can choose from a list of signature bowls or be daring and create their own unique combination of a base, various proteins and toppings and nine different sauces. Vegetarian options are available and the bowl combinations are virtually limitless. Colorful dishes and chic, modern dining rooms provide an uplifting dining experience for guests of all ages. Customers can dine in-store or order online through third-party delivery apps for contactless delivery.

About SuperFit Foods

SuperFit Foods, LLC, (www.superfitfoods.com) is a subscription-based, freshly prepared meal prep company that prepares “healthier for you” ready-to-eat meals in a centrally located kitchen in Jacksonville, Florida. Customers choose from over 150 different meal plans geared towards specific dietary needs. Meals are delivered to company-owned coolers located in gyms and wellness centers for customers to pick up after training or during their daily routines. SuperFit Foods sold over 220,000 meals in 2020.

Forward-looking statements

This press release may contain “forward-looking statements” pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. To the extent that information presented in this press release relates to financial projections, information or expectations regarding our business plans, results of operations, products or markets, or otherwise make statements about future events, such statements are forward-looking. These forward-looking statements can be identified by the use of words such as “should,” “may,” “intend,” “anticipate,” “believe,” “estimates,” “projects,” “forecasts,” “ expects,” “plans,” and “proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from these forward-looking statements. You are urged to carefully review and consider all cautionary and other information, including statements made under “Risk Factors” and elsewhere in our filings from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Muscle Maker, Inc. assumes no obligation to update forward-looking statements except as required by law.

Contact:

muscle maker grill marketing

marketing@musclemakergrill.com

Investor Relations:

IR@musclemakergrill.com

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Muscle Maker, Inc. Posts 154% Growth in Restaurant Sales and Improves Financial Results for Fiscal 2021 https://goniyon.net/muscle-maker-inc-posts-154-growth-in-restaurant-sales-and-improves-financial-results-for-fiscal-2021/ Thu, 17 Mar 2022 07:00:00 +0000 https://goniyon.net/muscle-maker-inc-posts-154-growth-in-restaurant-sales-and-improves-financial-results-for-fiscal-2021/ Net losses decrease, overall revenues increase, operating expenses and general and administrative expenses improve League City, Texas, March 17, 2022– MuscleMaker, Inc. GRILLthe parent company of Muscle Maker Grill, Pokemoto Hawaiian Poke and SuperFit Foods restaurants, today announced that it will release its fiscal 2021 financial results on March 17and for the year ended December […]]]>

Net losses decrease, overall revenues increase, operating expenses and general and administrative expenses improve

League City, Texas, March 17, 2022– MuscleMaker, Inc. GRILLthe parent company of Muscle Maker Grill, Pokemoto Hawaiian Poke and SuperFit Foods restaurants, today announced that it will release its fiscal 2021 financial results on March 17and for the year ended December 31, 2021.

Michael Roper, CEO of Muscle Maker, Inc., commented, “Recently released 2021 financial results show a 154% increase in restaurant sales growth and a 28% increase in the net number of restaurants in operation at system scale. Not only have we experienced an increase in our revenues, but we are also seeing our operating metrics improve year over year as new entities are integrated into Muscle Maker Inc.’s overall portfolio of companies. We are seeing improvements in our operating expenses across all major categories, as a percentage of restaurant sales:

  • food and paper costs improved by 2.1%
  • labor costs improved by 31.4%
  • rent improved by 5.3%
  • other operating expenses increased by 5.9%

Additionally, our overall general and administrative expenses improved by 5.6% over the prior year, even after integrating our acquisitions of Pokemoto and Superfit Foods in 2021.”

Roper continued, “We are very pleased to finally be able to fully execute our growth strategy while improving our liquidity position. Over the past year, we have had several growth-oriented announcements including: the acquisition of SuperFit Foods, the acquisition of Pokemoto, the launch of our Pokemoto franchise strategy which has already resulted in the signing of 31 agreements franchise and the signing of a development agreement for 40 Muscle Maker Grill units in Saudi Arabia. During this period, we also increased our liquidity position. As of December 31, 2021, we had a cash balance of $15,766,703. We believe that our existing cash and future cash flows from our operations and franchise growth strategy will be sufficient to fund our operations, planned capital expenditures and repayment obligations over the next twelve months. As a result, the recent audit allowed the removal of going concern for 2022.”

“Our strategy is focused on growing the Pokemoto brand through strategically placed franchises and company-owned and operated sites, seeding key markets for future franchise expansion. We currently have approximately 15 million dollars in working capital to deploy as part of this strategy and have begun to execute on this plan. We have already signed 31 franchise agreements and opened six new locations in the past few months with three additional locations under construction. We are sharpening our pencils to reduce costs in the Muscle Maker Grill restaurant division while exploring opportunities to co-brand these locations with the Pokemoto brand or convert them entirely to Pokemoto restaurants. SuperFit Foods remains an important part of our business portfolio, and we will focus on expanding our presence in the Jacksonville Florida market by increasing the total number of pickup points while looking for ways to expand the concept as a whole. We expect the full growth engine to come from the Pokemoto franchise and expansion.

About MuscleMaker, Inc.

Muscle Maker, Inc. is the parent company of “healthier for you” brands that bring high-quality healthy food options to consumers in traditional and non-traditional settings such as military bases, universities, ghost kitchens, delivery and ready-to-use products. meal preparation options. Brands include Muscle Maker Grill restaurants, Pokemoto Hawaiian Poke, SuperFit Foods meal prep and several ghost kitchen brands such as Meal Plan AF, Wrap it up Wraps, Bowls Deep, Burger Joe’s, MMG Smoothies, Mr. Tea’s House of Boba, Gourmet Sandwich Co. and Salad Vibes. Our menus highlight healthier versions of traditional and non-traditional dishes and feature grass-fed steak, lean turkey, chicken breast, Ahi tuna, salmon, shrimp, tofu and herbal options. For more information about Muscle Maker, Inc., visit www.musclemakergrill.com, for more information about Pokemoto visit pokemoto.com or for more information about SuperFit Foods, visit www.superfitfoods.com.

About the Muscle Maker Grill

muscle maker grill (www.musclemakergrill.com) offers high quality and tasty dishes, freshly prepared with exclusive recipes. The menu, created with the customer’s health in mind, is lean and protein-based. It includes all-natural chicken, grass-fed steak, lean turkey, whole-wheat pasta, wraps, bowls and more. It also offers a wide selection of fruit smoothies in a variety of assorted flavors, protein shakes and supplements.

About Pokemoto

Pokemoto (pokemoto.com) a Hawaiian Poke Bowl concept known for its modern culinary twist on a traditional Hawaiian classic has nineteen locations open in six states – Connecticut, Rhode Island, Massachusetts, Florida, Maryland and Virginia with future franchise locations coming to New York , Massachusetts, Connecticut, Florida and Mississippi. Pokemoto delivers contemporary flavors with fresh, delicious ingredients that appeal to foodies, health enthusiasts, and sushi lovers everywhere. Guests can choose from a list of signature bowls or be daring and create their own unique combination of a base, various proteins and toppings and nine different sauces. Vegetarian options are available and the bowl combinations are virtually limitless. Colorful dishes and chic, modern dining rooms provide an uplifting dining experience for guests of all ages. Customers can dine in-store or order online through third-party delivery apps for contactless delivery.

About SuperFit Foods

SuperFit Foods, LLC, (www.superfitfoods.com) is a subscription-based, freshly prepared meal prep company that prepares “healthier for you” ready-to-eat meals in a centrally located kitchen in Jacksonville, Florida. Customers choose from over 150 different meal plans geared towards specific dietary needs. Meals are delivered to company-owned coolers located in gyms and wellness centers for customers to pick up after training or during their daily routines. SuperFit Foods sold over 220,000 meals in 2020.

Forward-looking statements

This press release may contain “forward-looking statements” pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release addresses financial projections, information or expectations regarding our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. These forward-looking statements can be identified by the use of words such as “should”, “may”, “intend”, “anticipate”, “believe”, “estimate”, “project”, “expect”, “expects,” “plans,” and “proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from these forward-looking statements. You are urged to carefully review and consider all cautionary and other information, including statements made under “Risk Factors” and elsewhere in our filings from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Muscle Maker, Inc. undertakes no obligation to update forward-looking statements, except as required by law.

Contact:
muscle maker grill marketing
marketing@musclemakergrill.com

Investor Relations:
IR@musclemakergrill.com

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Restaurant sales improve after January slump https://goniyon.net/restaurant-sales-improve-after-january-slump/ Tue, 08 Mar 2022 19:07:48 +0000 https://goniyon.net/restaurant-sales-improve-after-january-slump/ After ten straight months of traffic gains, the U.S. restaurant industry’s recovery slowed in January, according to The NDP group. However, things are looking up. OMICRON INDUCED SLOWDOWN IN JANUARY The surge in the COVID-19 Omicron variant impacted restaurant traffic in January. The NPD Group found that physical and online visits to US restaurants fell […]]]>

After ten straight months of traffic gains, the U.S. restaurant industry’s recovery slowed in January, according to The NDP group.

However, things are looking up.

OMICRON INDUCED SLOWDOWN IN JANUARY

The surge in the COVID-19 Omicron variant impacted restaurant traffic in January.

The NPD Group found that physical and online visits to US restaurants fell 2% in January, compared to an 8% drop in January 2021, with total restaurant traffic – online and physical – down 10%. % compared to the pre-pandemic level in January 2020.

Although restaurant traffic increased by 40% in January, this jump compares to a 61% drop in January 2021. On-site visits in January were down 46% from the pre-pandemic level in January 2020, while off-premises orders were down 10% on the month compared to a 22% increase in January 2021.

“No one ever said that the road to recovery would be smooth and steady. Right now we are experiencing a dip in the road due to the expiration of the omicron variant and stimulus money,” NDP food industry adviser David Portalatin said in a news release.

Interestingly, online and physical visits to quick service restaurants, which account for the bulk of industry traffic and have historically led the industry out of tough times, were also down 3% over the months compared to a year ago. In contrast, full-service restaurant traffic actually increased 2% in January, down 22% from 2021.

RESUME IN FEBRUARY

According to Black box intelligence.

Sales in the first three weeks of the month showed an improvement over January’s sales growth and brought the industry back into positive growth territory. However, a significant slowdown compared to the average growth recorded between June and November 2021 persists.

“Looking forward, we should expect some volatility. The number of restaurants in February will be compared to a tough February last year due to extreme weather conditions,” Portalatin said. “My advice is to don’t be too discouraged in January or too excited if February looks good. Just stay the course because we are on a path of gradual improvement.

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Integrating digital and on-site experience is key to driving restaurant sales https://goniyon.net/integrating-digital-and-on-site-experience-is-key-to-driving-restaurant-sales/ Mon, 07 Mar 2022 17:03:45 +0000 https://goniyon.net/integrating-digital-and-on-site-experience-is-key-to-driving-restaurant-sales/ A new report from Paytronix has revealed that restaurant managers are increasingly looking to integrate physical and online customer experience as a key part of their innovation strategy to drive restaurant sales. the Restaurant Friction Index 2022 found that a cross-channel ordering experience has become an integral approach. Four in 10 (41%) of the average […]]]>

A new report from Paytronix has revealed that restaurant managers are increasingly looking to integrate physical and online customer experience as a key part of their innovation strategy to drive restaurant sales.

the Restaurant Friction Index 2022 found that a cross-channel ordering experience has become an integral approach. Four in 10 (41%) of the average restaurant’s sales now come through digital channels, including mobile apps, aggregators and websites. This share is much higher than the 32% of restaurant sales that the average restaurant generated through its physical location and the 26% generated through phone calls.

Restaurants now receive orders through an average of 2.7 different shopping channels at any one time. Consumers place these orders through a mobile app, aggregator, desktop website, site visits, or over the phone. One of the impacts of this development is that more sales are now generated through digital channels than on site or over the phone.

In summary, integrated digital ordering and payment options are no longer competitive differentiators, but rather a fundamental part of restaurant sales and the restaurant business.

“Today’s top-performing restaurants view customer experience holistically, not as separate channels,” said Andrew Robbins, CEO of Paytronix. “It’s now a convergence where every aspect of a brand works in concert to create a branded and personalized experience. In this environment, loyalty, payments, and digital ordering all work in concert, so whether a customer is ordering from their couch or from a restaurant table, the experience is one that keeps them coming back.

As a result, 41% of managers now consider it “very important” to provide customers with a consistent and integrated cross-channel ordering experience. Notable stocks believe that providing the right ordering options (39%) and payment options (38%) would be “very” important to their innovation strategies going forward. Loyalty features and pickup options were also common considerations for managers, cited by 38% each.

The aggregator markup

The report also found that restaurants charge an average of 24% more for menu items listed on third-party aggregators than for the same items listed on their own websites.

QSRs are the type of restaurant most likely to raise prices from their aggregators, with 27% of QSR managers confirming that they sell the same foods at higher prices on aggregators than on their websites. Only 14% of restaurant managers with table service do the same.

Reward loyalty

Additionally, almost all restaurants use loyalty programs to encourage consumers to order directly from the restaurant by offering discounts on menu items.

The study shows that 96% of restaurant managers lower prices for loyalty program members. The average loyalty discount is around 3.8%.

RELATED: Understanding Loyalty Programs in the Age of the Pandemic

The path of the present — and the future

Ultimately, the report concluded that the ways restaurants engage
with their customers have changed rapidly and fundamentally over the past two years. Now more than ever, restaurant customers are demanding options for how they place, pay for, and receive their orders, and restaurant managers are adapting their innovation programs accordingly.

Investments in multi-channel ordering capabilities and integrated user experiences are not only important, they are also critical to success in the restaurant industry now and in the future.

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Introducing the Toast Restaurant Trends Report: Restaurant sales increased 41% year-over-year https://goniyon.net/introducing-the-toast-restaurant-trends-report-restaurant-sales-increased-41-year-over-year/ Wed, 23 Feb 2022 13:01:00 +0000 https://goniyon.net/introducing-the-toast-restaurant-trends-report-restaurant-sales-increased-41-year-over-year/ BOSTON–(BUSINESS WIRE)–Toast (NYSE: TOST), the all-in-one platform built for restaurants, today announced the first edition of its quarterly Restaurant Trends Report, providing visibility into the overall health of the restaurant industry through aggregate restaurant sales data on the Toast platform, which has approximately 57,000 locations at the end of 2021 in the United States Throughout […]]]>

BOSTON–(BUSINESS WIRE)–Toast (NYSE: TOST), the all-in-one platform built for restaurants, today announced the first edition of its quarterly Restaurant Trends Report, providing visibility into the overall health of the restaurant industry through aggregate restaurant sales data on the Toast platform, which has approximately 57,000 locations at the end of 2021 in the United States

Throughout 2021, the operating environment remained challenging for restaurateurs as they faced the dual challenges of changing workforce dynamics and a labor shortage sustained, as well as rising input prices due to supply chain disruption and accompanying inflation.

However, against this backdrop, restaurateurs, employees and suppliers have remained incredibly resilient. The following information shows how consumer eating habits have changed and how restaurant owners and employees have adapted to these changes.

Catering is bouncing back and digital is driving growth

  • Total restaurant sales increased 41% year over year: The restaurant industry’s “post-vaccination” rebound has fueled restaurant growth so far. Restaurant sales, measured by gross merchandise volume (GMV) on the Toast platform on a like-for-like basis, grew 41% between 2021 and 2020.
  • Toast restaurants rebound and surpass pre-COVID sales levels: Restaurants on Toast have rebounded, as evidenced by average same-store GMV increasing nearly 6% from Q4 2019 to Q4 2021.
  • Restaurant outings are back: Guests are once again enjoying their favorite meals at the restaurant. On average, on-site restaurant sales have rebounded since the start of the pandemic and were up 70% in the fourth quarter of 2021 compared to the fourth quarter of 2020 and were up 55% for the full year of 2021 compared to to 2020.
  • Takeout and delivery are here to stay: The convenience of ordering out is going nowhere – takeout and delivery sales increased 59% from Q4 2019 to Q4 2021 and remain high.
  • Full-Service Restaurants (FSRs) Outperform: Diners are ready to enjoy the full restaurant experience again. Total sales for full-service restaurants (FSRs) increased 55% between Q4 2021 and Q4 2020, while quick-service restaurants (QSRs) increased 30% over the same period.
  • Regional sales growth is strongest in the South compared to pre-pandemic levels: The South (+12%) recorded the highest sales growth comparing Q4 2021 to Q4 2019, followed by the West (+5%), the Midwest (+4%) and the Northeast (+0 .4%).
  • All regions of the United States experienced strong annual growth in 2021: All regions of the United States saw strong year-over-year sales growth, with Northeast (+56%), Midwest (+52%), West (+50%) and the South (+36%) all up from Q4 2021 compared to Q4 2020.
  • The most efficient kitchens: European, Middle Eastern and breakfast cuisines saw the strongest sales growth. European kitchens grew by more than 58% on average GMV growth in Q4 2021 compared to Q4 2020.
  • Tipping is up slightly across the country: There was no drop in tipping for servers and staff. Nationally, tips increased by an average of 19% in the fourth quarter of 2021, an increase of almost 1% compared to the fourth quarter of 2020.
  • Increased employee productivity through technology: Labor shortages continue to be a challenge in the restaurant industry, but with the help of technology, restaurants see hope for improved employee productivity. The typical restaurant on the Toast platform processed 4.5% more transactions per hour worked per employee comparing Q4 2021 to Q4 2020. Employees can be more productive with mobile ordering at the table and portable POS, while customers get their food faster.
  • Renovations and new equipment are among the top three financing needs: Many restaurants used new capital for near-term cash flow, with day-to-day operations and renovations accounting for 28%, 20% and 17% of financing needs in 2021, respectively, showing that restaurants continue to grow and to innovate in these unprecedented fields. times.

As the Trends Report shows how Toast adoption is helping restaurants succeed, we will continue to use our platform and our voice to help restaurants through this difficult time.

Methodology

The Restaurant Trends Report, powered by Toast, reveals key restaurant industry trends through aggregate restaurant sales data on the Toast platform, which has approximately 57,000 locations as of the end of 2021 in the United States. United. All growth rates are calculated on the same store. basis of sale for the applicable period. Transactions per labor hour are measured by taking the median increase, on a comparable store basis, for restaurants with a minimum of 200 logged employee hours each month over the entire period. The Restaurant Trends Report is not indicative of Toast’s operating performance or its reported financial measures, including GMV growth and comparable customer GMV growth.

About Toast

Toast is the end-to-end platform designed for restaurants of all sizes. Toast provides a single platform of software-as-a-service (SaaS) products and fintech solutions that give restaurants everything they need to run their business across point-of-sale, operations, ordering and digital delivery, marketing and loyalty, and team management. By serving as the restaurant operating system across dine-in, take-out, and delivery channels, Toast helps restaurants streamline operations, increase revenue, and deliver exceptional customer experiences. Toast proudly serves approximately 48,000 restaurants.

TOST-END

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Restaurant sales fall again in January – Produce Blue Book https://goniyon.net/restaurant-sales-fall-again-in-january-produce-blue-book/ Fri, 18 Feb 2022 15:16:16 +0000 https://goniyon.net/restaurant-sales-fall-again-in-january-produce-blue-book/ January marked the second consecutive month of declining restaurant sales from the previous month. According to US Census Bureau datatotal restaurant and drinking place sales were $72 billion in January, down from $72.5 billion in December and November’s peak of $73.1 billion. January saw a spike in omicron variant COVID-19 infections, which likely dented restaurant […]]]>

January marked the second consecutive month of declining restaurant sales from the previous month.

According to US Census Bureau datatotal restaurant and drinking place sales were $72 billion in January, down from $72.5 billion in December and November’s peak of $73.1 billion.

January saw a spike in omicron variant COVID-19 infections, which likely dented restaurant sales.

“Yesterday’s sales numbers highlight the unique and devastating impact that restaurants continue to feel from the pandemic,” said Sean Kennedy, executive vice president of public affairs for the National Restaurant Association. in a statement to Nation Restaurant News.

“While most of the economy showed growth in January, restaurant sales fell for a second consecutive month; after adjusting for inflation, sales were nearly $3 billion below mid-2021.”

The restaurant association continues to press government leaders for the need for financial relief for restaurants affected by the virus and government interventions.

“Small business restaurants are not like other small businesses,” Kennedy said. “Even in the best of times, they perform a balancing act to provide exceptional service and make ends meet. Thousands of these restaurants were left in limbo when the Restaurant Revitalization Fund closed, and without the replenishment, chances are we’ll start to see many of them close.


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