Roscoes Files its Exit Plan
Roscoes Files its Exit Plan from Chapter 11
Under Chapter 11 management by The Next Idea, Restaurant Consulting and Management group in partnership with Restaurant Finance Group, Triple Enterprises; reporting into court-appointed Trustee, Roscoe’s parent company, East Coast Foods filed a repayment plan that returns the bankrupt business to its owner and repays all creditors in full.
This is a very unusual and favourable outcome for a Chapter 11 business and is a direct result of the operational improvements and financial controls installed by The Next Idea and Triple Enterprise teams.
The result was an ability to show the long-term profitability of the business with a higher than market average cash flow, and thus an ability to repay the entire debt over a reasonable timeframe.
We are delighted to see such a positive result for Roscoe’s and wish them well as they emerge from bankruptcy.
This case demonstrates that it is always possible to turn around a troubled business and emerge without negatively impacting jobs, suppliers or customers.
Awards 2017
The Next Idea
Only a very select group of businesses earn our top ratings and the Spectrum Award. Even fewer are able to earn this recognition in consecutive years. Congratulations to you and your team for such an honorable achievement.
The Award is not a snapshot in time of a single interaction, it is all encompassing. That is because we take your ENTIRE customer service performance into account. Unlike consumer review sites, your 5 star rating is stable. It will remain 5 stars for the entire 2017 rating year.
People have greater faith in award-winning companies. As a Spectrum Award winner you earned the opportunity to promote your business as Award Winning!
Key Performance Indicators Explained
Key Performance Indicators Explained
For a manager, whether one of the team or a designated senior professional, chances are that they will have heard of Key Performance Indicators (KPIs). KPIs are the performance measurement tools or data that represents the success or opportunities within a business – good or bad. There’s a saying “If you can’t measure it, you can’t manage it!”Hence KPIs require reliable and truthful data reports for decision making. Remember, if there’s a problem, required action should be taken. And if the organization is successful, it is easier for the executives to identify the successful elements that may be exploited.In essence KPIs depend on the figures to provide a wider understanding of success. Read More
Why Poke will be The Next Idea
Poke – The fast food for future generations
With changing trends in the US restaurant worldPoké is emerging as the new replacement for Sushi. Traditionally pronounced as Po-Kay, this dish has made its way everywhere from the USA beaches, gas stations, surf shacks, local stores and beyond.
Poké is the Hawaiian version of Japanese sashimi (raw fish), usually served on rice or varieties thereof, and as a starter to a traditional Hawaiian meal
This Hawaiian classic, has now been ‘Americanized.It is now casual, comes in plastic, china cups or bowls, and consumed either on the go or wherever one can find a seat. From Los Angeles to Charleston and Brooklyn, this new quick food category is growing fast! Read More
When was the Last time you gave your customer Flowers?
Differentiation is the process of distinguishing a product or entire offering from others, making it more attractive to a particular target market. This involves differentiating it from competitors’ products and standing out on the competitive landscape through unique positioning.
Differentiation is a source of competitive advantage. Marketing or product differentiation is the process of describing the differences between products or services, or the resulting list of differences. This is done in order to demonstrate the unique aspects of your product and create a sense of value. Without question, differentiation must be valued by buyers. The term unique selling proposition refers to advertising to communicate a product’s differentiation. Read More
9 Ideas for a More Successful Restaurant Web Site
Author: Robert Ancill
Keywords: Restaurant Consultants, restaurant websites, online restaurant marketing
According to The Next Idea Restaurant Consultants; what consumers want from a restaurant web site may differ from what you think.
At the top of the list was “current menus with up-to-date prices” – no surprises there. But also of high interest were: descriptions of dress codes, driving instructions, hours of operation, and information regarding special needs. For example, is the site wheelchair-accessible? And are large-type menus available? Read More
The Next Idea’s Eating Out Forecast 2014 and forward
It’s that time again – when we review the past year and predict how food and hospitality trends will appear in 2014 and beyond.
Forecasting future directions relies on a careful balance of correctly interpreting history and foundation, along with an analysis of the current consumer frame of mind.
One thing we know for certain–the traditional research methods are less relevant in our modern dynamic consumer landscape. Therefore, we continue to employ non-traditional, innovative research techniques in order to successfully forecast trends. One method thatThe Next Idea researchers have found increasingly important when compiling forecasts, is to take into account world events and global trends. Our theory is that by understanding the consumer mentality, (which is impacted by its surrounding world and events), we can more effectively forecast evolving expectations. Read More
The Next Idea’s 2011 Food Forecast
Catering to the Consumer Mindset: Empowerment, Alternatives, and a Search for Balance
Amidst a mood of cautious optimism, The Next Idea releases its annual report on global hospitality trends. For 2011, the prevailing message reflects a melding of increased consumer intelligence, expanded empowerment and alternatives, and a demand for a balance between cost and quality.
Simply put, in a post-recession restaurant marketplace, consumers are increasingly calling the shots. Read More
The Next Idea’s 2011 Food Forecast
Catering to the Consumer Mindset: Empowerment, Alternatives, and a Search for Balance
Amidst a mood of cautious optimism, The Next Idea releases its annual report on global hospitality trends. For 2011, the prevailing message reflects a melding of increased consumer intelligence, expanded empowerment and alternatives, and a demand for a balance between cost and quality.
Simply put, in a post-recession restaurant marketplace, consumers are increasingly calling the shots. Read More