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jCarbonara
Joe Carbonara

Labor Lessons

Real growth continues to be hard to come by for the foodservice industry. In fact, overall customer traffic was flat through the first quarter of 2016, according to The NPD Group, a market research firm covering the foodservice industry. Revenues and customer traffic may be inching along, but one area growing at breakneck speed is labor costs.

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jMartinez
Juan Martinez

Post NRA Thoughts: My Labor Costs are Killing Me! What Can I do About It?

The National Restaurant Association’s annual trade show has come and gone to much fanfare. From what I saw and read, the participation was phenomenal. We were able to bring our full consulting team from all of our offices and even made time to break some bread together.  This year, I also participated in a panel discussion that explored unit economics  and was moderated by Steve Romaniello, managing director of Roark Capital.

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jStiegler
Jerry Stiegler

Study Projects Compound Growth Rate for U.S. Foodservice Market

Restaurant sales in June were slower than in May. A new report looks for foodservice to grow 3.33 percent in the next 5 years. A C-store chain says it will open at least 600 locations in the next few years. Taco Bell expands their Cantina concept. These stories and a whole lot more This Week In Foodservice.

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Highlights

Ten Areas Where Successful Companies Excel

In addition to trying to put today's economic climate into a context, Forbes' columnist Rich Karlgaard offered his observations on 10 areas in which successful companies tend to excel during the FEDA Convention in Phoenix.

Successful companies are not necessarily the market leader in all of these areas but they need to be among the best in most of them. While he did not address this industry specifically, I do believe that Karlgaard's comments do apply to the many companies that do comprise the very dynamic and always evolving foodservice industry.

 

Design: In a world that is seemingly moving faster and is more confusing than before design is becoming more important, he said. Simply put: design is margin. "It does not need to be simple or elegant but it needs to be cohesive," Karlgaard said.

Cost Leader: "This does not mean that you are lowest price or that you are cheap," Karlgaard said. But the business leaders need to ask such questions as: What are the big ways to reduce costs? Where is the big idea to take cost out of the business for generations?

Speed: This represents the company's ability to deliver what you say, when you say it and doing so in such a way that meets customer expectations, Karlgaard said.

Sales: Have the right equipment to empower the salespeople to do their jobs.

Analytics: This means having the software and procedures that can help the business leaders see what's not visible to them on the surface. For example, is the company's largest customer slowly starting to drift away? "This will become increasingly important," Karlgaard said.

Logistics: "Almost any market leading company from the past 30 years has been a leader in logistics," Karlgaard said.

Service: "You have to be consistent in the delivery of your service," Karlgaard said.

Communication: Externally, how do you communicate your brand in a world of rapidly expanding media, Karlgaard said. Internally, give the information everyone needs to do their jobs.

Brand: It has to relate to all of the customers wants and needs. "And if you strip away the name they still need to know it's your company," Karlgaard said.

Purpose: "Companies built on a moral foundation and function with a purpose have an advantage," Karlgaard said. "It has never been more important than it is today."
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