financial insights Archives

Unlike Labor and Supplies, Restaurants Are Not Short on Data. Let’s Learn How to Use It.

Corporations and individuals create an estimated 2.5 quintillion bytes of data daily.Restaurant finance teams spend 80% of their time collecting data and 20% analyzing it. The industry needs to flip that equation.Poor data collection prevents accurate benchmarking....

The restaurant landscape is shifting — accurate financial benchmarking lays the foundation

Franchisees’ and operators’ most frequently asked questions indicate the need for new benchmarks for the restaurant industry.Complicated assessments of sales, profit and performance have, in the past, relied on far-too-simple data. -Paul Compton,...

How transparency, benchmarking and greater financial insights across your franchised brand can drive profitability

Profitable Restaurants: Sit down with RMS Director of Product Management Paul Compton Whether you’re a restaurant operator, franchisee or franchisor, for the past 18 or so months, the scramble has been real. Shifting demands from both consumers and health officials;...

Insights Into Financial Health Help Restaurants Now

The pandemic created levels of volatility never before seen in the restaurant industry, and the pressures keep on coming. A year ago, we tracked capacity restrictions, stay-at-home orders and case counts. Now we’re watching commodity pricing, labor stats and the...

Unit level financial data eases mounting pressures for franchised brands

As people become vaccinated and restrictions are eased, consumers are eager to return to dining out. While the restrictions of the past year may be lifting, the pressures on operators, franchisees and brands are not. Food and labor costs are rising. Supply chain...

Episode 1: How Brands Are Using Data to Create Recovery Strategies to Survive the COVID-19 Crisis

2021 Planning: Financial Data will Repair the Cracks

In a recent TED Radio Hour episode on resilience, Esther Perel stated, “a pandemic, a disaster, highlights the cracks. It will also reveal light shining through.” While she was speaking to interpersonal relationships, her analogy also applies to our business, which is...

How to Make Sure Your Restaurant Brand Survives

From immediate response to resolution and recovery, maneuvering a crisis with any sort of certainty can be challenging. With COVID-19, “challenging” is an understatement. Brands had to think quickly to respond to the crisis, without any real historical precedent. As...

What Should Restaurants Measure Now?

Historical and comparative data and information guide us, informing both near- and long-term actions. But in these times without historical precedent, we are left with the question: what should we measure now? Information enables conversations—and solutions. RMS CEO...

Restaurant CEOs on Leading Their Brands Now and Beyond Coronavirus

On April 29, Revenue Management Solutions and EZ CERT supported Franchise Times’ lively webinar discussion with Peter Cancro, Founder and CEO of Jersey Mike’s Subs, Joe Koss, President and CEO of Culver’s Restaurant, and Chris Newcomb, Co-Founder and CEO of Newk’s...

Your Coronavirus Response Recovery Depends on Data

We’re in a time of great opposites. On one hand, you’re required to engage in the quickest thinking of your career as we rapidly change course to meet the needs of the day. On the other hand, the COVID-19 crisis will begin to subside, and that time will require a very...

It’s a disaster. But will disaster insurance cover it?

Circumstances well outside operators’ control are forcing closures, loss of revenue and, in some cases, permanent shut downs. We can all agree that this is a “disaster,” but most business insurance policies only cover catastrophes of the physical kind, and will...