Restaurant Real Estate Advisors
helps you open a restaurant, lease a restaurant or sell a restaurant at low cost, low risk and high profit.
Today, tech touches almost every aspect of restaurant operations. There are mobile inventory apps that place automatic orders – eliminating 86 risks. Cash registers are old news; digital POS systems are trending. Now, tech is taking over the guest ordering process. The result? Surprisingly, it’s a more personalized experience for the guest.
Prior to opening your new restaurant you need to find the right location and negotiate a lease agreement. The first step of the negotiations is the offer to lease, typically referred to as the Letter of Intent (LOI).
A letter of intent ( LOI) is a document outlining the major deal terms to be incorporated into a restaurant lease agreement. Most Letters of Intent are non-binding and specify that only a mutually signed lease will bind either party.
By Donald Burns, guest blogger & founder of The Restaurant Coach™
Your menu is your #1 marketing tool in any restaurant. But many operators, especially new ones in particular either underestimate or don’t realize the profound effect the menu will have on their profitability.
As a result, many restaurants pay a steep price for menu missteps and missed opportunities when they could avoid them with a little planning.