Tammy K. Billings, MBA

Always amazed when you walk the floor and see some of the common exhibitor mistakes. Here are my top peeves: - Stop hiding behind tables and creating barriers to engagement - Don't confuse feeding people with interest in your product - Bad signage that says nothing about your brand ** - Get off your phones - Let your product speak for itself (ie don't hide your latest plant-based chicken nugget under a ton of sauces and spices). Amazed that folks will spend all that money on attending NRA, but then fall short to represent their brand. ** saw one booth that said "we do social media for restaurants". Yup, you and 1,000 freelancers/ influencers. Well, at least they were at the right show.

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Using pricing survey data from BTIG, let's take a look at what's going on in California. As you'd expect, quick-service brands are raising prices. Fast casuals more aggressively than fast-food chains. And interestingly, McDonald's appears to be holding the line. Of course, all of this is a moving dynamic. Nobody really knows how guests will react or what's coming next (that $20 rate is likely to go higher). Who might benefit? Casual dining, third-party delivery, and robotics companies. What exactly is the value proposition these days? It's hard to understate how much all of this has shaken that equation, and basically overnight.

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Love this article from Alicia Kelso at Nation's Restaurant News. She shows with #restaurant performance data what Carl Orsbourn and I wrote about in Delivering The Digital Restaurant: Your Roadmap to the Future of Food Chapter 2: Our Tastes Are Changing. The rate of legal immigration to the United States doubled between 1970 & 2020. Within that population, immigrants themselves got more diverse. In the 1960's, immigrants to the US were 67% European. Today, just 13% come from Europe. This diversity adds so much to our shared culture. All these new Americans are bringing their diverse culinary traditions with them and teaching the entire country - and especially younger generations - how to eat differently. Can existing restaurants change fast enough to keep up with more adventurous eaters? Or will new restaurants rise to fill the demand for more diverse foods? Based on Alicia's article, it seems to be the latter. https://lnkd.in/gNkCGFmf

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Regardless of how you feel about California's recent wage increase, there's no doubt that it's going to increase the adoption of restaurant technology! We can expect to see a rise in things we're familiar with seeing on a semi-frequent basis such as self-service kiosks, but we can also anticipate an increase in technology we may be less acquainted with, such as various food preparation robots. And on top of that, this will also bring about a wave of innovation for technology we still have yet to experience! What are you anticipating we'll see most? And what about what'll come to be? #RestaurantTech #Restaurants #RestaurantIndustry

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Mani Kulasooriya is preaching below! The response from this Farm to Fork: The Innovators Podcast episode is one of the best so far. Listen to the full episode and discover where the foodservice supply chain is going. Datum FS Cut+Dry

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💪💪 Increase Brand Exposure At Events 💪💪 𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐭𝐡𝐞𝐬𝐞 13 "𝐋𝐮𝐜𝐤𝐲" 𝐑𝐞𝐭𝐚𝐢𝐥 𝐓𝐫𝐞𝐧𝐝𝐬 1) Focus on the Product Experience - Kristin Naragon w/MACH Alliance 2) Learn How to Meet Your Customers Needs Immediately Michael Della Penna w/InMarket 3) Introduce Omnichannel Retailing Across Biz Platforms Salice Thomas w/Wipro 4) Leverage Partnerships With Influencers Amanda Whiteside w/Freshworks 5) Increase Brand Exposure At Events - Matthew Rolnick w/Yaymaker 6) Immerese The Buyer In An Engaging Brand Environment - Richard Lindhorn, ICAE 7) Ensure Data Security To Protect Your Business And Customers' Information Mustansir Paliwala w/Zomara Group Consulting & EQUANS 8) Engage in SMS Messaging To Communicate With Clients Brandon Batchelor w/ReadyCloud 9) Personalize Your Outreach Methods Archana Rao w/Innova Solutions 10) Reduce Your Brand's Carbon Footprint Praneeth Kudithipudi w/Sacumen 11) Demonstrate The Authenticity of Your Brand's People Ashleigh Stanford 🧩 w/PracticeTek 12) Create Magical Environments Through AR And VR Retail Visits Annu Baral w/LatentView Analytics 13) Embrace TikTok Shop Bryce Welker w/Crush Empire #RetailTrends #BrandExposure #Events

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I have a soft spot in my heart for restaurants. Firstly, I own several and they are key parts of the community that create connections for 1,000's of people. Second, they are incredibly low margin and difficult to make profitable. Lastly, they are under appreciated and most often times undervalued. One of the ways PassPass is helping restauranteurs is by guiding them to change their way of thinking and helping to convert their loyal customer base into paid subscribers. We do this through what we call "Customer Powered Royalties" which was coined by my co-founder Edgel Groves Jr. and our COO Christopher Lawrence. PassPass Restaurant partners can use our software and marketplace, completely for free to generate recurring subscription revenues at an incredibly affordable customer acquisition cost (CAC) to lifetime value (LTV). This is the gold standard for software companies, most companies which would die for a 3:1 ratio. Incredibly, we have restaurants on our platform that are already pacing at a 24:1 CAC to LTV ratio. Which means, every dollar spent to acquire a PassPass member is forecasted to return $24 in revenue. Of which nearly 100% is EBITDA. Here is an article I wrote breaking this down. If restauranteurs start to understand the power that lies in their loyal customer bases, they will start to think differently about their model and how to unlock this profitability with PassPass. #ebitda #CAC # LTV https://lnkd.in/g6eEJJ2t

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Restaurant Business Validation The restaurant industry is competitive, so a well-defined and validated a concept for scaling is crucial for success. Validating a concept includes customer feedback, analyzing the competition, and determining the restaurant’s potential for growth. While validating your restaurant your should be able to answer the following questions: Does your concept resonate with your target market? Is your positioning unique and appealing within the competitive landscape? Are your financial projections realistic and achievable? Is your chosen location ideal for your target demographic and concept? Does your concept have the potential to adapt and grow in the evolving market?

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Today's summary of Mark Brown's awesome daily about the wine/beer/spirits industry. Excluded a few to fit the word limit. I moved my favorite to the #1 spot. I love wine. It's been with us for 8,000 years and played an important role in all cultures, religions, economies. Dangerous in excess? Like anything, yes. But there are many social + health benefits to consider. The "no amount is healthy" is a narrow view. 1.) Why it’s time to start defending wine Dr. Laura Catena argues that the wine industry must defend itself against rising anti-alcohol rhetoric. She believes moderate wine consumption has health benefits and criticizes media and organizations like the WHO for presenting a one-sided view that downplays scientific studies supporting moderate drinking. https://lnkd.in/g3nJ_Vkd Check Laura's blog sharing the facts about wine & health: https://lnkd.in/gQzNuArt 2.) ‘People don't really know him’: Inside the rise of California wine’s billionaire sports tycoon Billionaire Bill Foley has become a major player in the California wine industry through savvy winery acquisitions. Though better known for his sports investments, Foley Family Wines & Spirits has quietly amassed an impressive wine portfolio, particularly benefiting from distressed asset purchases. https://lnkd.in/g9XcjYNa 3.) Goldman Sachs: Beer Q3 C-Store Sales Trends ‘Relatively Stable’; Constellation and Molson Coors Lead Growth Beer sales in Q3 remained stable in convenience stores, with a 3% year-over-year increase. However, the growth outlook has slightly lowered. Constellation and Molson Coors lead in sales growth, while craft beers saw a 4% sales increase. C-store traffic is expected to decline in 2024 w/ modest growth in 2025. https://www.brewbound.com/ 4.) Will EU policymakers ‘shackle’ or ‘support’ the beer sector? The Brewers of Europe report that the beer industry contributes over 2 million jobs and €52 billion to the EU economy, urging policymakers to support rather than limit the sector's growth. Challenges include rising production costs and taxes. The industry has also focused on responsible drinking and sustainability. https://lnkd.in/g6TK3EsB 5.) Heineken (HEIN.AS): Battered & bruised…BUT is the downgrade cycle finally over? After two years of downgrades, Heineken is now positioned for a potential recovery in FY25. While volumes were weaker in Q3, Heineken may see an upside of 28% over the next 12 months as market headwinds ease. http://hein.as/ 6.) How the spirits industry is adapting to a challenging market At the Spirits Strategies and Innovation Conference, industry leaders discussed the importance of experience-led branding and the opportunities presented by being a multi-category player. Despite economic uncertainty, global spirits volumes are projected to grow significantly through 2028. https://lnkd.in/gVeRTuHk

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The restaurant industry in 2024 shows resilience and potential amidst challenges. Despite economic fluctuations and cautious investor sentiment, there's a notable optimism among industry leaders. Lauren Fernandez from Full Course highlights the industry's determination to adapt and thrive, emphasizing the growing demand for innovative financing solutions. I had the honor of speaking my piece on behalf of Branded Hospitality Ventures as I see a recalibration in valuation expectations as a positive shift, reflecting a more realistic approach to growth and investment. Noting the emergence of new financing avenues and strategic partnerships as essential to supporting industry expansion. Industry leaders remain committed to navigating these challenges and seizing growth opportunities, driven by innovation and strategic partnerships in the evolving restaurant investment landscape of 2024. Read More Here: https://lnkd.in/eCGA8GU5 QSR Danny Klein Andrew K. Smith Savory Fund Peter DiFilippo C Squared Advisors, LLC Erik Herrmann CapitalSpring Chris Elliott FSC Franchise Co. Morven Groves 10 Point Capital #hospitality #restaurants #industryleaders #investing #venturecapital #innovation

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Annual report on restaurants and consumers by Alix Parnters offers some amazing insights. Start with summary in NRN or read the full report, totally worth taking the extra time to get the details, click here. https://lnkd.in/g57uT-kd Despite some signs of stability and continuing optimism, many operators know painfully well that things aren’t necessarily rosy right now, and second quarter earnings reflected as much. The consulting firm outlines four strategies to manage changing consumer behaviors that have impacted sales and traffic: Evolving menu offerings Enhancing the consumer experience Investing in employees Implementing balanced pricing https://lnkd.in/gzJ7nhJk #restaurants #consumerspending #trends #offpremises #theopga

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As #AI continues to become increasingly intertwined with restaurant ops, some hard truths should be discussed. As Brandon Barton of Bite highlights on this week's episode of #RoomForSeconds, the larger companies will have the resources necessary to introduce AI better than most. What does that mean for smaller restaurant chains? Listen to this week's episode for more insights! #tech #software #restaurants

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How restaurant brands have reacted since CA hiked the minimum wage for restaurant workers👇 💸 Menu price increases at... - Chipotle: +7% - Daves Hot Chicken: +9% - Denny's: +5% in CA, +3% overall - Domino's: Single digit % increase - Jack in the Box: +5% - Portillo's: +3% - Shake Shack: +7% in CA, +3% overall Some of these brands have been able to increase prices without losing traffic, while others have implemented kiosks and other tech to increase AOV and offset changes to varying degrees of success. It'll be interesting to see how customers react as prices continue to creep up at more restaurants. #restuarants

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Sale Ends Tonight! Don't miss your chance to jumpstart your marketing with Ernie's hands-on, 4-hour Generative AI workshop in Salt Lake City (SLC)! Join me and a handful of other small business marketers for an engaging in-person session where you'll master the art of Generative AI and learn how to supercharge your marketing strategies. This is your opportunity to dive deep into AI technologies that are transforming the industry—all in just half a day! Why You Should Attend: Hands-On Experience: Work directly with cutting-edge AI tools. Expert Guidance: Learn from industry professionals. Immediate Impact: Apply new skills to your marketing efforts right away. Networking Opportunities: Connect with like-minded professionals in SLC. But hurry—the sale ends at midnight! Secure your spot now and take the first step towards revolutionizing your marketing approach. Let me know if you'd like a link to register.

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Restaurant companies are facing difficult decisions to try and meet sales targets. Our new blog looks into two different California fast-food operators as they tackle rising costs through contrasting strategies. 💸💲🍔🍕 #valuewars #restaurantmarketing #restaurants #valuemeals

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Ian Courtnage dropped some serious knowledge on our quick, candid convo on the current consumer value prop: - Value = Price + Offering + Service - Labor costs are up double digits over the last 24 months - COGS are up double digits over the last 24 months - Folks are raising prices, and consumers are feeling fatigue and starting to more seriously evaluate the tradeoffs of eating out. But operators still have several levers to pull (ranked in order of easiest to do but potentially hardest to maintain): - Raise prices in response to cost pressures - Discount to present a more "value" offering - Menu engineering - change the bundles, change the inputs, change the modifiers - LTOs - maintain relevance, reduce the fatigue with the core menu in light of higher spending From Ian's perspective, the environment over the next 12 months isn't going to get any easier. The only answer is to hold true to your brand's principles and value prop: - Figure out why guests love you - Preserve your differentiation - Pair the above with continued phenomenal operational execution Thank you again Ian for your time! We'll be back next week for another 15 minute convo next week with Groucho's Deli President 🥪 Deric Rosenbaum talking about "unified commerce" - what it is and why it matters - for both operators and guests.

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While technical skills are important in the #restaurant industry, soft skills such as empathy, communication, and problem-solving are crucial for fostering customer loyalty, employee retention, and operational resilience. Read how operators can leverage soft skills as a path towards success in Modern Restaurant Management (MRM) magazine:

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What's one panel you will not miss at the QSR Summit this week? The Future of Digital Transformation in the Fast Casual & QSR Industry - Navigating the current landscape: Examining the challenges posed by escalating expenses when making investments in restaurant technologies - Rethinking the omnichannel strategy: reprioritizing the areas of focus in creating an efficient and effective omnichannel approach that boosts revenue generation and customer experience - Reclaiming guest relationships: Building an integrated ecosystem across all channels to deliver a personalized guest experience that offers consistency across all touchpoints - Leveraging partnerships: collaborating with your vendors to best utilize your tech stacks and leverage data to develop actionable insights ➡️ Julie Wade, Taziki's Mediterranean Cafe ➡️ Dave “Rev” Ciancio, Handcraft Burgers and Brew ➡️ Sam Stanovich, Big Chicken TUESDAY | JUNE 11, 2024 9:05 a.m. Discover more: https://bit.ly/QSRSummit Use code REVITUP for a discounted ticket! #qsrsummit #fastcasual #conference #restaurantbusiness #restauranttech #restaurantowners #restaurantmarketing #restaurantindustry #restaurantowner

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