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News in Review     Market Reports    Food Quiz     Industry Discussion

Restaurant Owners Fight Inflationary Prices
Restaurant Workers Await Wage Settlement
Lawmakers Fail to Gag Celebrity Chef Gordon Ramsay
McDiet Takes Man From 50-Inch Waist to 36
How modern science and old-fashioned detective work cracked the salmonella case
China renames menu items for Olympics
Giveaways anger McD's franchisees
Chipotle to use more local ingredients
Minimum Wage Hikes to Kick in Next Month
U.S. Restaurants Push Abroad
Pucker Up! Tart cherries gain popularity on quick-service menus
Michelin Guide Goes Web 2.0
Restaurants Produce Green Profits
Hardee's owner to open 25 restaurants in Pakistan
I'll Have That Typeface on the Menu
Landry's CEO to buy company for $21 a share
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Featured Article

 

How to Turn Your Good Restaurant into a Great Business

By: Jim Laube

People who open their own restaurant typically possess an abundance of highly desirable traits and skills. Almost without exception, they're very capable individuals who are naturally optimistic, creative, dedicated, highly motivated, action-oriented, and are not afraid of hard work and long hours to achieve their goals.

Although restaurant owners consistently display these positive characteristics, it's no secret that many new restaurateurs find themselves faced with moderate and even severe challenges in turning their restaurants into successful businesses. There's a lot of truth in the statement, "opening a restaurant is the easy part, the real challenge is making money at it."

One of the main occupational hazards of owning a restaurant is getting buried in the minutiae of daily operations. As we'll explain, when owners get caught up in the details of running their restaurant, they can easily lose sight of what they, as an owner, should be doing to turn their restaurant into a profitable business.

In this article, you'll learn how to "promote" yourself to becoming more of a CEO (chief executive officer) type of owner. In short, you'll see how to keep your eye on the big picture and create a system that will ensure your restaurant operates the way you want it to, without your constant involvement in attending to each and every detail. You'll also learn what type of activities you, as an owner, must be focused on to achieve any degree of sustainable success.

The potential benefits of becoming a CEO type of owner are significant and will have a profound impact not only on the financial performance of your restaurant but on the quality of your lifestyle as well.

As more of a chief executive owner, your restaurant won't be totally dependent on you being there all the time, so unlike many restaurant operators, you'll be able to have a life outside of running your restaurant too. In addition, you'll be better positioned to grow your restaurant through new marketing initiatives, setting up additional lines of business, developing multiple locations or even franchising your concept, if that's what you want to do.

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Notable Quotable


"Associate yourself with men of quality if you esteem your reputation, for 'tis better to be alone than in bad company."

- George Washington



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Weekly Market Reports

View updated pricing and information each week on the website for the following food-commodity markets:

Beef, Veal & Lamb View Detail 
Planned beef grind retail feature activity for the upcoming Fourth of July Holiday is helping support the beef chuck and round markets at notably higher levels than a year ago. With the challenged US economy, retailers will be more apt to feature the less expensive beef cuts and grinds in the coming months which could produce a premium for the aforementioned markets. Rising feed costs are leading to speculation that cattle supplies will tighten in the future. Deferred cattle futures markets are inflated. Prices per pound FOB from USDA.

Dairy View Detail 
On Wednesday June 18th, the CME block and barrel cheese markets closed below the $2 mark for the first time in nearly 6 weeks. Additional modest CME cheese market decreases may be forthcoming. Still, key technical downward market resistance could be met at $1.90 and $1.80 if prices can even get to those levels. In short, a major downward correction in the CME cheese markets is not expected. The butter market is fairly steady. Nearby upside risk in the butter market is thought to be minimal. Prices per pound, except Class I Cream (hundred weight), from USDA.

Poultry View Detail 
Broiler egg sets in recent weeks have trended 1% higher than levels in early May. This suggests that some chicken producers may have modestly bumped up forthcoming chicken production plans. Still with corn and soybean meal prices anticipated to remain especially elevated and volatile through the summer, chicken processors may need to decelerate chicken output further. The chicken breast and wing markets are firming some. Relatively higher chicken wing and boneless skinless breast prices are expected soon as chicken production slows compared to a year ago. Prices USDA, FOB per pound except eggs (dozen).

Seafood View Detail 
April US Gulf of Mexico shrimp landings were virtually even with the prior year. 2008 US Gulf of Mexico shrimp landings through April were 4% less than 2007 and the lowest for the time period in at least 5 years. Inflated fuel prices and strong exports are anticipated to continue to mitigate US shrimp fishing. Many shrimp markets typically move downward during the summer but any decreases this year may be modest. Prices for fresh product, unless noted per pound from Fisheries Market News.

Pork View Detail 
The flooding in the Midwest has caused some hog slaughter facilities to slow production in the area. Pork production generally tracks at its lowest levels of the year during the late spring and early summer. Inflated pork prices may persist this summer. The recent run up in feed prices could accelerate swine breeding herd liquidation which would be bullish for pork prices in 2009. Total sow slaughter during April and May was 12.7% larger than the 5 year average. Prices per pound FOB from USDA.

Produce View Detail 
The June 1st US storage potato inventory was the largest for the date in 8 years. June Idaho potato stocks were 16.7% more than 2007. However, good quality russet supplies are critically short which has pressured the potato markets upward in recent weeks. The Idaho potato harvest is anticipated to be modestly late this year which could cause relatively elevated Idaho potato prices to persist into August. Tomato supplies are slowly improving but as of June 17th most products from Mexico had not been cleared for consumption. Lower tomato prices may be pending. Prices shipping point unless noted (terminal) FOB from USDA

Oil and Grains View Detail 
The grain markets continue to mostly advance due to crop concerns in the Midwest. Volatile and particularly inflated grain prices are likely to persist this summer. Prices per pound (oils) or bushel (grains) FOB from USDA.

Canned and Frozen Food View Detail 
Tomato Products, Canned - The Midwestern tomato for canning harvest could be delayed this year due to the relatively wet spring. The Midwest accounts for roughly 5% of US output. The canned tomato markets are firm. Price per case (6/10) FOB from Supply and Market Report.

Processed Fruits and Vegetables - Many of the processed vegetable markets are moving higher due mostly to the rise in raw product costs for the upcoming crops. Additional price increases are likely due to the inclement weather in the Midwest. Prices FOB per case from Supply and Market Report.

Discussion Forums

Formula for Fixed Monthly Cost?

Community member Busser2GM writes...

I'm in the process of opening a Brassiere in Los Angeles. I found a retail space and the rent will be $5875 for 2300 sq ft. with a minimum wage of $8.00 per hour.  I'm working with the chef right now on the menu and the plate cost. With this rent, how much am I looking at for fixed monthly cost including wages, utilities, etc. so that I can figure out our necessary minimum daily and/or monthly sales from our menu?

...

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Breaded / Battered Chicken

Community member Ramis writes...

I just want to start by saying that I pride myself on providing fresh food. This means that in our Chinese dishes, the veggies and chicken/beef are not sitting in a steam table waiting for you to walk in the door, rather we cook everything once we have an order. Now the problem is breaded/battered chicken. Because we are Kosher, we make everything from scratch, so for battered chicken we have a flour, water, corn starch and spice mix that we deep fry every half...

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Garlic Greens

Community member Chefg writes...

I was at the farmers market this morning and saw a lot of Garlic tops. Not the scapes but the green leaves. They were really cheap and was wondering if anyone has used these greens for anything and how they used them. They are much more mellow then the the cloves. I was thinking about making some garlic chicken stock for some soup with one bunch. Can you just chop them up and use them fresh?...

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Food Quiz

The Major Ingredient in Gum

I am the proud, the sweet, the fruit of the Chicle tree. I produce a milky latex that is boiled down to form the major ingredient in chewing gum. I am native to South America, but I am also grown in the West Indies, the Philippines, South Florida, and other tropical climates. Some say I look like a cross between a potato and an apple. I am round, lemon shaped or oblong, about 3 inches in diameter with a russeted rough, grayish brown edible skin. I have four inedible black seeds (used to make tea) with a soft, sweet, fragrant pulp that is fine grained. My flavor can be likened to the flavors of brown sugar or maple syrup. Eaten with my skin on, like an apple, will mellow my intense sweetness. My honey blonde deep reddish brown melt-in-your mouth pulp can be eaten out of hand or used in pancakes, rice custard and sherbet, fruit salads and wine. I can also do amazing things to a root beer float. I am quite high in fiber and considered to be a good source of potassium. I contain vitamin C, sodium and iron as well.

What am I?

The Food Quiz has is brought to you by Culinary Specialty Produce, a specialty produce broker that scours the world for the very best in specialty produce. Contact them at 908-789-4700 or by sending an email to info@culinaryproduce.com.

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