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Tag Archives: economy

And yet, not all news is positive for the restaurant industry

Restaurant operators’ optimism wanes

NRA’s Restaurant Performance Index slips in June

July 30, 2010 | By Paul Frumkin

Restaurant operators appear to be less optimistic about their future prospects, which contributed to a decline in the National Restaurant Association’s Restaurant Performance Index for the third consecutive month.

The RPI fell to 99.5 in June, a decline of 0.3 percent from May and the lowest level since February, according to the NRA. It also marks the second consecutive month the RPI has stood below 100, which reflects contraction in the monthly index of key foodservice industry indicators.

Read the rest of the article here:

http://www.nrn.com/article/restaurant-operators-optimism-wanes?ad=news

Positive news on the high-end front

From Nation’s Restaurant New’s Breaking News

High-end restaurant chains say business, travel spending up

August 3, 2010 | By Molly Gise, Lisa Jennings

The return of business travel and conventions is driving traffic at fine-dining chains, many of which have recently reported positive same-store sales after suffering from empty dining rooms during the recession.

While steakhouse chains including Morton’s, Ruth’s Chris and The Capital Grille have taken advantage of the increased spending among their core markets, the high-end seafood chain McCormick & Schmick’s says it has suffered from the Gulf oil spill, which has kept consumers away.

Read the rest of the article here:

http://www.nrn.com/article/high-end-restaurant-chains-say-business-travel-spending?ad=news

More positive financial news for restaurants in 2010

From Nation’s Restaurant News:

Restaurant industry sees signs of light

by Sarah Lockyer

NEW YORK (Jan. 6, 2010) Two recent surveys forecast a slightly sunnier picture for the year ahead among both consumers and franchise business leaders, providing a glimpse of clearer skies for the restaurant industry.

Last week, a key consumer barometer, The Conference Board’s Consumer Confidence Index, showed its second straight gain in two months, with the consumer outlook for the months ahead reaching a two-year high.

The Conference Board, a New York-based research group, said the index rose in December to 52.9, from 50.6 in November. The index is based on a survey of 5,000 U.S. households, and readings above 90 indicate a stable economy and above 100 indicate economic growth. Tracking consumer confidence is key for many restaurant operators, as consumer sentiment is tied so closely to consumer spending, which drives the engine of the restaurant industry.

Read the rest of the article here:

Restaurant operators somewhat optimistic according to NRN

From Nation’s Restaurant News:

“Restaurant operators’ outlook improves

by Paul Frumpkin

WASHINGTON (Nov. 30, 2009) While customer traffic remained sluggish during the month of October, restaurateurs tended to be more hopeful about their prospects for the future, according to the latest monthly operator survey from the National Restaurant Association.

The NRA’s Restaurant Performance Index, or RPI, posted its first gain in three months, registering 98.0 for the month, an increase of 0.5 percent over its September level of 97.5. Based on a 100-point scale, the RPI is a monthly composite that tracks the health and outlook of the U.S. foodservice industry by monitoring sales, traffic, labor and capital expenditures.

Despite the uptick, though, the index remained below the 100 mark Ñ which reflects contraction of key industry indicators — for the 24th consecutive month”.

Read the rest of the article here:

http://www.nrn.com/breakingNews.aspx?id=376424

 

Restaurant sales still somewhat stagnant

From Nation’s Restaurant News:

Restaurants’ 3Q results likely to show slow sales

by Sarah Lockyer

 

As third-quarter earnings season begins this week with some of the largest restaurant companies reporting results, including McDonald’s, Brinker International and Chipotle, analysts are expecting slow sales and profits that are driven by cost cutting, much like the earlier quarters this year.

Despite comparisons to the third quarter last year, when sales dropped severely in the midst of the recession, restaurants have yet to see an uptick in customer visits or spending and are therefore still relying on depressed commodity and operating costs to drive earnings.

“Our October-to-date channel checks across the entire restaurant industry suggest another geographically broad-based negative same-store-sales deceleration across all categories despite generally easier year-to-year comparisons,” said securities analyst Paul Westra at Cowen & Co. in New York.

He estimated same-store sales declines of about 100 basis points, or 1 percent, compared with the third quarter of last year.

Read the rest of the article here:

http://www.nrn.com/breakingNews.aspx?id=374604#ixzz0UZpZjBGT

Waiters now need to be more resourceful than ever. As a waiter, you need to pursue every selling opportunity,  maximize every table, and utilize every skill in your toolbox. But never lose sight of the guest. They are your bread and butter and you don’t want to kill the goose that laid the golden egg. Be resourceful – don’t be greedy or rapacious.

 

 

 

NEW YORK (Oct. 19, 2009)