What is Margember?Nov 14, 2023
As you may remember, last week we walked through EVERYTHING you need to do before year-end! And to be honest, it was a lot. This is why, we have decided to celebrate our first annual MARGEMBER! Yes ... Margember. The celebration of Margins!
Now is a crazy time. But that doesn’t mean it has to be a bad time. Remember that time that the entire world shut down and it was illegal for people to sit in your dining room? Yes. that did happen. And guess what? You survived. I would bet if you are sitting here listening or watching our podcast you didn’t just survive. You thrived!
So my question to all of those walking around saying how bad this year has been is what happened to that fight? Unfortunately, the nay-sayers that seem so prevalent in social media might not be right.
While it may be true that your revenue is down from last year, the hospitality industry as a whole has GROWN over 10% since 2020. This means that while customers may be changing their patterns and behaviors, they aren’t ignoring the hospitality industry.
I would argue that the real battle we are all facing has more to do with technology changing customer behavior than anything to do with inflation. The next generation is NOT sitting at home eating a box of mac and cheese to save money. But they may be sitting at home. And they may be looking for the most convenient way to get their meal. This means, just like 2020, we have to find a way to meet our customers where they are. The answer isn’t to sit back and wait for when the customer returns to our dining room.
The good news is that whether 2023 has been bad or good, I guarantee it wasn’t THAT bad. It isn’t illegal for customers to come sit in your dining room and we believe that if given the right incentive, engagement, and energy, they will show up.
Just like 2020, YOU are in control of finding your core customer and pivoting to continue to deliver your products to a new version of your customer that exists today. I believe that if you were able to thrive during arguably the worst year in history for the hospitality industry, why not now? Why not find a new way to GROW in 2024?
Growth doesn’t just happen. It is a byproduct of knowing where you are today and building a path forward in 2024. This is why we want you to celebrate our Margember Challenge with us. Starting November 27th, we will celebrate the following:
*Your cash flow
*Your team dynamics during the holidays
*Par ordering and inventory management
*Celebrating 2023 and setting a target for 2024
Please join us over the next few weeks as more than anything we want to see you and the rest of the hospitality industry THRIVE in the New Year ... CLICK HERE to register for our MARGEMBER webinar series starting Monday, November 27!