The Daily Rail: Why Operators Shouldn't Sell Their Restaurant Without Help

EVENTS: How Sports Bars Can Plan & Execute a Great eSports Tournament

It’s one thing to show eSports on your TVs like you would any other sport, but it’s a whole new ballgame to host your own eSports tournament or event. There’s a lot to consider but it’s a great way of getting gamers and eSports fans into your seats. Here’s some tips for planning and executing a eSports event at your restaurant.


America’s Fav Booze Varies by Gender, Education

Beer remains America’s favorite adult beverage. And it used to be followed closely by wine and then liquor, but that’s quickly changing. According to a new Gallup poll, liquor has caught up with wine which is great for liquor companies and less so for vineyards. However, one’s booze preference varies a bit depending on one’s gender and education level. Men are more likely to want beer compared to women who want wine. Meanwhile, college graduates are more likely to choose wine while those without a college degree opt for beer.

The US Has the Most Expensive Healthcare System

OECD data shows that U.S. healthcare spending per capita (including public and private spending) is higher than anywhere else in the world by a considerable margin, despite the fact that the country lags behind other nations in areas such as life expectancy and health insurance coverage. 

Infographic: The U.S. Has the Most Expensive Healthcare System in the World | Statista You will find more infographics at Statista

Countries That Spend Most time on Social

Emerging markets continue to spend the most time on social networks during a typical day. This could be driven by the younger demographics of these markets, with the 16 to 24-year-old segment driving growth globally. The Philippines spent the most time connected to social networks, devoting just over four hours a day to the digital sphere. Nigeria, Mexico and Turkey all typically spent over three hours a day on social media sites. The US spends just under two hours on social media per day.

Infographic: Where Do People Spend More Time on Social Media? | Statista You will find more infographics at Statista


Why it matters to you: Turn your social channels into an interactive feedback vehicle.

Social media comes in an enormous array of forms. From Facebook check-ins to Yelp reviews and everything in between, you can become thoroughly overwhelmed by it all. But what if you were to turn the tables and instead of being a victim of social media, you master the conversation and control your reputation? The first and most powerful way to accomplish this is to get immediately interactive with guests that post about you. Whether it’s a response to a negative review or commenting on a post that references your location, participating in the conversation is the first step to mastering your online activities. There are multiple ways to improve customer feedback on social media.

As discussed above, never let a social post that includes you go without a response. By using software like HootSuite, you can be notified whenever your restaurant is tagged or mentioned and immediately respond. But it’s not just engaging in those conversations, but also letting your guests know that you are accessible. For example, why not add live chat support on your website? There are several apps that can be installed on your site that will allow guests to get your attention with their questions. This can all be done via mobile and is easier than it might sound. The most important thing you can demonstrate is that you are both a professional and interested in their feedback. This is the way to make yourself seem human and authentic to your guests

[Source: Modern Restaurant Management]


Why it matters to you: Selling your restaurant is a complicated process you shouldn’t do alone.

Have you ever heard the adage, The two best days of your life are the day you buy your boat and the day you sell it? Many of you might have already made the leap to replacing boat with restaurant, but the process to accomplish that feat is way more complicated than selling a boat. There are many considerations that have to be managed. From making sure your financial house is in order to ensuring that your equipment looks good and is maintained, the first step to making your business available for sale is to run it well. That goes for customer service as well. Too often, once an operators has determined they want to sell, they begin to let slide the discipline that served while owning their restaurant. Perhaps the most important aspect of preparing to sell your restaurant is that of realistic expectations.

Here we turn to another old adage: Nothing is ever as valuable as the person show is selling it believes. That’s why you should engage a third-party to evaluate your restaurant for sale. Like a real estate broker, a third-party person can gather comparative data on other sales, review your financials, and maintenance of your restaurant to support you in setting a realistic price for the business. If you don’t take those logical steps, you run the risk of believing your business is so valuable that you might actually price it right out of the market. Either way, it’s always best to get a second opinion, because yours is clearly biased by your familiarity and affection for your own worth.  

[Source: FSR Magazine]