Doing Rounds of The Kitchen Table
This week's fresh serve of news from around the Catering & Restaurant Industry.
Keep up-to-date with the latest in Catering Equipment & Restaurant Equipment, Food Trends & Business Tips from around the web.
5 fired-up cafe franchises
Love coffee? You aren't alone! Australia is one of the largest countries for coffee consumption worldwide, and it's the nation's cafe franchises that are leading the way.
According to a report from market research firm Statista, the annual domestic coffee consumption in Australia reached almost 1.9 million 60-kilogram bags, grossing more than $2bn in revenue in 2017.
How to Launch a Restaurant Concept
In 2014, Sahil Rahman and his childhood friend Rahul Vinod quit their jobs in New York City, moved back in with their parents, and started working on a plan to open their own restaurant. Three years later, in December 2017, they opened RASA, an Indian fast casual in Washington, D.C., that has been so well received it's outperforming national chains in its Navy Yard neighborhood.
But in those early years, the two millennial entrepreneurs quickly burned through their savings and were forced to take part-time jobs just to make ends meet. Opening a new restaurant—particularly one started from scratch—is a challenge so great that many fail at it. Some manage to open only to falter and close their doors within a year, while others don't even make it to that point. A few make it over the multiple hurdles and achieve their dreams, and none of it comes easily. Here's a step-by-step look at the store-opening process, with tips from several entrepreneurs who recently made their dreams a reality.
Grubhub's stock plunges as food delivery competition grows
Shares in Grubhub plunged 43% Tuesday after it sharply cut its revenue expectations for the year and warned of intense competition.
The steep decline in share price wiped away more than $2.3 billion of the company's stock market valuation.
It is the worst single-day decline for shares since the company went public almost six years ago.
How Instagram influencers are changing the restaurant industry
Young entrepreneurs are getting paid to post about restaurants. And restaurant owners are scrambling to keep up.
Several times a month, Ferrell Alvarez gets the same message.
It's usually a stranger. It's usually through Instagram. The person starts by asking the chef if he's interested in a partnership, or a “collab.” Then they propose a trade: A dinner for two in exchange for an Instagram story, a social media clip that will disappear in 24 hours. An offer to promote his restaurant on their page. A post for a free drink or two.
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