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    How the cost of living changed the way we eat out

    en-gbMarch 01, 2024

    Podcast Summary

    • Challenges in the UK's restaurant industryDespite staffing shortages, rising costs, and the impact of the cost of living crisis, the UK's restaurant industry remains vibrant due to the passion and dedication of chefs and hospitality workers.

      The restaurant industry is facing unprecedented challenges, leading to a record number of closures, despite the desire for social connection and dining out experiences post-pandemic. The reasons include staffing shortages due to Brexit and better opportunities abroad, rising rents and rates, and increasing food costs. However, the passion and dedication of chefs and hospitality workers keep the scene vibrant, even if it's not the same as before. The cost of living crisis has significantly impacted the way we eat out, with many restaurants struggling to stay afloat. According to Grace Dent, The Guardian's restaurant critic, the industry is in a bumpy landscape, but the UK's food and hospitality sector remains a jewel in the crown, with incredible talent and dedication.

    • Rising costs impacting restaurant affordabilityRestaurants face increasing costs, leading to higher menu prices and fewer dining occasions for customers

      Restaurants are currently facing unprecedented challenges due to the tiny margins they operate on, exacerbated by rising costs such as rent, rates, heating, and fuel bills. These costs often end up being passed on to customers in the form of higher menu prices, leading to sticker shock. For example, a main course at a restaurant could cost anywhere from £30 to £45 or more. Even for the "Metropolitan Elite," the decision to dine out is becoming a more deliberate one. The speaker, who used to attend around 250 restaurant openings a year, now carefully considers her orders to avoid unexpectedly large bills. The overall dining experience is becoming more expensive, leading to fewer occasions for eating out.

    • The end of small plates trend?People want larger portions and value for their money, leading to a potential shift away from small plates concept in restaurants.

      People are moving towards more cost-effective dining experiences and are no longer content with the small plate sharing concept in restaurants. The speaker expresses her frustration with the experience of not getting enough food for herself and the hassle of dividing dishes among the table. She believes that the trend of small plates is profitable for restaurants as it allows them to turn tables quickly, but it may not be sustainable in the current economic climate. Additionally, restaurants have responded to financial pressures by becoming stricter with reservations and requesting deposits to ensure customers show up, a practice that was once unheard of but is now necessary due to increasing flakiness and noncommittal behavior in society. Overall, it seems that the era of small plates may be coming to an end as people crave larger portions and more value for their money.

    • Post-pandemic changes in the restaurant industryRestaurants require upfront payments, pizza is a recession-proof food, and businesses find creative ways to reduce costs

      The restaurant industry has undergone significant changes post-pandemic. Restaurants now require upfront payments or deposits due to past experiences with no-shows. This trend is not limited to fine dining establishments, as even casual dining places like pizza joints are thriving due to their affordability. Pizza is seen as a recession-proof food, and people often opt for it when money is tight. Businesses are also finding creative ways to reduce costs, such as reverse auctions for mobile phone plans. Despite these challenges, the importance of quality sleep remains a constant, with Sleep Number continuing to provide customized comfort solutions.

    • Pizza's Enduring Popularity in the Restaurant IndustryPizza thrives due to its affordability for restaurants and versatility catering to various consumer preferences.

      Despite the challenges faced by the restaurant industry, pizza joints continue to thrive due to their affordability and versatility. Tony Naylor, a food and drink writer with two decades of experience, explains that pizza's popularity endures because it is a low-cost item for restaurants to produce and sell at a profit. Additionally, its versatility caters to various consumer preferences. Meanwhile, in an entirely different context, a mystery surrounds the appearance of disturbing images of young girls in Spain, hinting at an intriguing collision between people and artificial intelligence. The Guardian's new podcast series, "Black Box," delves deeper into this enigma. Back to the kitchen, the heat from the wood oven where pizzas are made is intense, reaching about 400 degrees Fahrenheit. The oven, which has been in operation for nearly a decade, has maintained its popularity by keeping prices accessible and offering a complete dining experience rather than just the pizza itself.

    • Pizza's Enduring Appeal in the UKPizza's affordability, versatility, and customizability cater to changing consumer preferences, particularly Gen Z and millennials. Delivering quality food, excellent service, and a unique dining experience are crucial for success in the competitive restaurant industry.

      Pizza's ever-evolving nature and universal appeal continue to drive its immense popularity in the UK, benefiting both large chains and independent restaurants. The affordability, versatility, and customizability of pizza cater to the changing dining preferences of consumers, particularly Gen Z and millennials. Instagrammability is another factor contributing to pizza's enduring appeal. To succeed in the competitive restaurant industry, it's crucial to focus on delivering quality food, excellent service, and a unique dining experience. Creating a welcoming atmosphere and ensuring consistency in food and service are essential. Building a strong online presence and engaging with customers through social media can also help attract and retain customers. Ultimately, a successful restaurant is an intricate balance of various elements working together harmoniously to provide a memorable dining experience.

    • Success in restaurants: Focus on a few dishes, excellent staff, and ambianceFocus on a few exceptional dishes, hire and retain excellent staff, and create a welcoming ambiance for a successful restaurant experience

      Running a successful restaurant involves more than just good food. According to Grace Dent, a renowned food critic, a smaller menu focusing on a few dishes done exceptionally well, along with signature local favorites, is key. Hiring and retaining excellent staff who genuinely care for customers is crucial, and proper compensation and appreciation are essential. Lighting, cleanliness, and personal touches also contribute significantly to the dining experience. As Theo Lewis, the owner of Theo's Pizzeria, emphasized, being present and invested in the restaurant is essential. The Guardian's new app, Feast, will be an invaluable resource for home cooks, featuring recipes from top Guardian and Observer chefs. Overall, creating a welcoming, enjoyable dining experience requires love, attention to detail, and a commitment to excellence in every aspect.

    • Shop and Save with Shopify and 1-800-FlowersShopify offers affordable business solutions with a top-notch checkout system, while 1-800-Flowers provides discounted high-end essentials for special occasions

      Shopify and Quints offer high-quality products and services at affordable prices, making it easier for businesses to convert browsers into buyers and for consumers to elevate their style or celebrate special occasions without breaking the bank. Shopify's internet-leading checkout system helps businesses grow, with a trial period available at shopify.com/work. Quints, on the other hand, provides high-end essentials at discounted prices, exclusively partnering with factories committed to ethical and responsible manufacturing. For Mother's Day, 1-800-Flowers allows you to celebrate all your amazing moms with handmade bouquets, sweet treats, gourmet food, and unique gifts, offering up to 40% off Mother's Day bestsellers at 1800flowers.com/acast. Both Shopify and 1-800-Flowers make it easy to shop and save, ensuring quality and affordability for all.

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    Show notes…

    Calls to ACTION!!!

    Favor success quote/mantra:

    • "Anything is possible, but you need to put one foot in front of the other."

    In this episode with Brad Parker we will discuss:

    • Opening a bar with a partner
    • Operating a bar
    • Systems, systems, systems
    • Food costing
    • Importance of checklists
    • Public perception
    • Raising capital
    • Growing too fast
    • Changing customer habits
    • Dealing with online review culture

    Today's sponsor:

    At Popmenu, we know that in today’s world, a great hospitality experience usually begins onlineKeeping the conversation with guests going beyond the meal also requires simple, powerful, fun technology capable of expression through all kinds of channels. Our team takes pride in helping restaurants put their best foot forward digitally so they can focus on what they do best. We think PDF menus are super boring, we believe 3rd party platforms have had too much say in how consumers find their next dining experience and we deeply feel that sharing your beautiful menu doesn’t have to be so difficult, time-consuming and expensive. As a listener of the Restaurant Unstoppable, you'll receive $100 off your first month of Popmenu!

    Join the 60-day Restaurant Systems Pro FREE TRAINING. This is something that has never been done before. This 60-day event is at no cost to you, but it is not for everyone. Fred Langley, CEO of Restaurant Systems Pro, will lead a group of restaurateurs through the Restaurant Systems Pro software and set up the systems for your restaurant. During the 60 days, Fred will walk you through the Restaurant Systems Pro Process and help you crush the following goals: Recipe Costing Cards; Guidance in your books for accounting; Cash controls; Sales Forecasting(With Accuracy); Checklists; Budgeting for the entire year; Scheduling for profit; More butts in seats and more… Click Here to learn more.

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      • Do they fit our culture?
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      • Labor and consistent culture
    5. Share one code of conduct or behavior you teach your team.
      • Always find a way
    6. What is one uncommon standard of service you teach your staff?
      • Every customer leaves happy
    7. What's one book we must read to become a better person or restaurant owner?
    8. What's one piece of technology you've adopted within your restaurant walls and how has it influence operations?
    9. What is one thing you feel restaurateurs don't do well enough or often enough?
      • Focus on the asset and not the people
    10. If you got the news that you'd be leaving this world tomorrow and all memories of you, your work, and your restaurants would be lost with your departure with the exception of 3 pieces of wisdom you could leave behind for the good of humanity, what would they be?
      • Take a chance and do it
      • You can't take your money with you
      • You want to be known for how you treat people, not what you built

    Contact:

    Website: https://www.parkerhospitality.com

    Instagram...

    Parker Hospitality: @parkerhospitality

    Hampton Social: @thehamptonsocial

    Brad: @bradparker_hospitality

    Thanks for listening!

    Thanks so much for joining today! Have some feedback you’d like to share? Leave a note in the comment section below!

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    Huge thanks to Brad Parker for joining me for another awesome episode. Until next time!

    Restaurant Unstoppable is a free podcast. One of the ways I'm able to make it free is by earning a commission when sharing certain products with you. I've made it a core value to only share tools, resources, and services my guest mentors have recommend, first. If you're finding value in my podcast, please use my links!

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