There have been rippling changes through the restaurant industry in recent years, which include changing technology, social media, and rising costs. The changes are demanding restauranteurs to adapt quickly and make changes within their own business. At the Food & Wine Classic in Aspen, the panel discussed adaptation and change within the restaurant industry, what the industry is experiencing, why it matters, and how they are having to evolve to stay ahead.
Challenges & Challenges
Today, restaurants have to be more things to people to keep up with the rising costs and competition.
From Chef to Owner
Taking control and ownership of the business aspects of the restaurant is a necessity. Many owners are giving their staff new opportunities to develop and take on more responsibility.
Making it Work
New ideas to address rising costs include:
- Dynamic Pricing: charge more during high-demand times
- Tipping: eliminate tipping and add a 20% service charge instead
- Technology: gathering more data about customers