It’s no secret that running a restaurant is a risky business. The fact that many restaurants will ultimately fail early in their existence is not lost on most entrepreneurs, and yet they carry on anyway in hopes that their restaurant dreams can be made true.
After running nuclear reactors for submarines, Loren Goodridge was ready to be his own boss. Navy alum Goodridge became a Subway franchisee in 1992, and has since been recognized for his strategic planning skills by Subway CEO Fred DeLuca and grown his franchise company to 20 units.
There’s no getting away from it: Everyone from executive chefs to moms and grocery store purchasers are feeling the escalation we’re seeing in food prices.There are increases across the board, and some of them are pretty hefty.
Atlanta-based private investment firm Argonne Capital Group, LLC today announced that an affiliate, Peak Restaurant Group, LLC, has acquired the restaurant assets, operations, and franchise rights to 40 IHOP restaurants located in seven states in and near the Rocky Mountain region including California.
The Eat’n Park Hospitality Group launched LifeSmiles, a program that will invest in children’s health and wellness initiatives in the communities the company serves. As part of the effort, the foodservice leader plans to invest $1 million and 20,000 volunteer hours to health and wellness initiatives over the next five years.
With “Main Street” restaurants still struggling to find working capital despite an improving economy, financial services provider Capital Access Network (CAN) announced that one of its subsidiaries will make such loans more available to small- and mid-sized businesses.
As a result of a downtick in same-store sales and customer traffic levels, the National Restaurant Association’s Restaurant Performance Index(RPI) fell below 100 in November. The RPI—a monthly composite index that tracks the health of and outlook for the U.
The recent tragedy in Japan will affect the global food supply--especially with seafood--but it also will provide an opportunity for American food suppliers and retailers to increase their market share, this according to Phil Lempert, a leading food industry expert.
Darden Restaurants has announced a 14% increase in its third quarter diluted net earnings per share.
Highlights for the third quarter include the following:
Net earnings from continuing operations for the third quarter were $151.
Over 80,000 new jobs and over $10 billion in economic output could be lost in 2011 unless credit flow to franchised small businesses increases, according to a new report released today by the International Franchise Association (IFA).
Morton’s Restaurant Group is considering a potential sale of the company.The Chicago-based business announced that, with the support of affiliates of Castle Harlan, Inc. and Laurel Crown Partners, LLC, its two largest current shareholders, the company’s board of directors has authorized the exploration of strategic alternatives to enhance shareholder value.
Tavistock Group has acquired E-Brands Restaurants, a multi-concept restaurant company that operates Timpano Chophouse and Martini Bar, AquaKnox, and Taqueria Canonita. E-Brands Restaurants sold its brands and seven restaurant locations to the Orlando, Florida-based private investment company after filing for bankruptcy last summer.
Visits to restaurants may be down compared to six years ago but there’s a glimmer of hope on the horizon. New research from the NPD Group shows that there were signs of improvement in the second half of 2010.
JB’s Family Restaurants has filed for Chapter 11 bankruptcy protection due to debts that are estimated to range as high as $50 million, but at least $10 million.The company has also closed 26 of its 50 restaurants, around half of which are company-owned and half of which are franchised.
The 500 largest U.S. restaurant chains saw a 1.8 percent increase in sales last year. Research by Technomic showed that sales for these restaurants increased more than $4 billion over 2009, by around $234 billion.