The hospitality industry has experienced some significant changes and challenges over the past couple of years. The pandemic has completely upended the way the industry operates, from how guests are served to the operating hours that both restaurants and bars have.
As we move into 2022, restaurants and bars are settling into a “new normal” that will define how successful they are over the next couple of years.
This period of change will come with a new set of challenges, such as the workforce shortage and supply chain issues, that restaurants and bars will have to navigate successfully if they are to continue delighting their guests and turning a profit.
To help restaurants and bars do just that, we’ve created a free eBook that looks at the top hospitality trends impacting restaurants and bars in 2022. We cover some of the opportunities, technologies and strategies that restaurants and bars will use to grow their business, including:
- How restaurants and bars can address the workforce shortage.
- Why technology is crucial for restaurant and bar success.
- The importance of finding multiple revenue streams for hospitality businesses.
- Why there’s a renewed focus on inventory management.
- The simplification of restaurant and bar menus to drive profit margins.
You can download the eBook for free by clicking the image below, or for a quick summary of the points we cover in the guide please feel free to continue reading this blog.
- Successful restaurants and bars will find ways to navigate the workforce shortage
Almost every industry is struggling with the current workforce shortage, and the hospitality industry is certainly taking the brunt of it. There’s a significant shortage in all hospitality workers right now, with chefs, washers and wait staff the most difficult positions to fill.
To counteract these shortages, restaurants and bars will need to focus on new strategies to find talented workers and keep their team. There will be a renewed focus on staff retention, the use of technology to access internal efficiencies, and improved hiring processes.
- The leading restaurants and bars will utilize technology
The most profitable bars and restaurants will use technology to keep up with changing customer expectations, improve back-of-house efficiencies and improve their profit margins. Examples of trending technologies that will be utilized by restaurants and bars include inventory management systems, online ordering solutions, handheld PoS systems and contactless payment.
- Hospitality businesses will add new revenue streams
With lockdowns and local regulations impacting the operating hours of hospitality businesses, restaurants and bars have realized the importance of having multiple revenue streams to increase their profitability. This could include anything from selling deadstock, introducing a takeout service or even opening your own bar or restaurant-branded store.
- Profitability will be driven by a focus on restaurant and bar inventory management
Do you know just how important bar and restaurant inventory management is to your business? Effective inventory management leads to:
- Less food/beverage loss.
- Lower cost of goods.
- Improved vendor management and ordering decisions.
- Automated inventory supply.
- Happier guests
- Increased profits!
As we move through 2022, we expect that an increasing number of restaurants and bars will see inventory as an investment in their profitability. With that, we can expect to see renewed focus on ensuring that they have visibility and control over their inventory processes.
- Simplified menus will improve profit margins
There has been a trend in the past for restaurants and bars to build huge menus. The problem is, the amount of inventory needed to support these large menus is overwhelming, and often leads to product waste and large amounts of deadstock.
In 2022, we expect to see restaurants and bars simplifying their menus. With food prices on the up and supply chains slowing down, the hospitality industry can benefit from scaling back their menu and focusing on a few core products that their guests love.
Interested in learning more about the top trends driving the hospitality industry in 2022, or how an inventory management system can drive profitability throughout the year? Get in touch with Sculpture Hospitality today. Our team of specialists would love to answer any questions that you may have.