Full-Time
Promotes restaurants through loyalty programs
No salary listed
Senior, Expert
Chicago, IL, USA
Hybrid role requiring in-office presence 2+ days per week.
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Rewards Network helps restaurants attract full-price customers through promotional programs linked to major loyalty programs. Diners earn rewards for eating at participating restaurants, which encourages them to pay full price instead of using discounts. The company operates on a pay-for-performance model, charging restaurants based on sales generated from these diners, and offers flexible funding options to support business growth. By providing data insights and live sales reports, Rewards Network aims to help restaurants thrive in a competitive market.
Company Size
501-1,000
Company Stage
Acquired
Total Funding
N/A
Headquarters
Los Angeles, California
Founded
1984
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Paid Vacation
401(k) Company Match
401(k) Retirement Plan
Health Insurance
Dental Insurance
Vision Insurance
Health Savings Account/Flexible Spending Account
Disability Insurance
Life Insurance
Hybrid Work Options
Darden Restaurants’ sales climbed this quarter despite diners shying away from its fine-dining establishments. The company, owner of chains such as Olive Garden and LongHorn Steakhouse, released earnings Thursday (Dec. 19) that showed total sales increasing 6% to $2.9 billion. While sales were up 7.5% at LongHorn and 2% for Olive Garden, sales for the company’s fine dining restaurants — Ruth’s Chris Steak House, Eddie V’s Prime Seafood and The Capital Grille — fell by nearly 6% for the quarter
Chain restaurant bankruptcies are reportedly at their highest level since the pandemic.Among the most recent examples is the casual dining franchise TGI Friday’s, one of more than a dozen high-profile eateries to seek bankruptcy protection between January and October of this year, Bloomberg News reported Thursday (Dec. 5), citing BankruptcyData.According to the report, that’s the most through that date since 2020, and next year could bring more turmoil, with restaurant prices jumping due to increased labor costs, supply chain issues and steeper interest expenses, lessening consumer demand for meals away from home.Bloomberg cited data from Black Box Intelligence showing that restaurant prices rose 44% between 2015 and March of this year, compared to a 26% uptick in grocery prices during the same timeframe.“It’s really hard for somebody to go to a restaurant at the same pace as we did before,” Victor Fernandez, vice president of insights at Black Box Intelligence, said. “That’s putting a lot of pressure on brands.”In addition to TGI Friday’s, the Italian chain Buca di Beppo, fish taco restaurant Rubio’s Coastal Grill, owner of burger and pizza chains BurgerFi and Anthony’s Coal Fired Pizza, and Red Lobster are all among companies seeking reorganization via bankruptcy in a year that has not been easy on the dining industry.“I don’t know about you guys, but I’m ready for ‘24 to be behind us, and I think ‘25 is going to be a great year,” Kate Jaspon, chief financial officer of Dunkin’ parent company Inspire Brands, said at an industry conference in Las Vegas last month.Her comments were reported by CNBC, which included its own statistic from Black Box Intelligence: Restaurant traffic for eateries open at least a year had fallen year over year in each month through September.Meanwhile, high-profile chains such as McDonald’s and Starbucks have reported declines in quarterly sales, disappointing their investors.And while global names like these are seeing sales fall, smaller restaurants are dealing with challenges of their own, like scaring up capital, Mitchell Hipp, divisional vice president at Rewards Network, said in an interview with PYMNTS posted earlier this week.“Most restaurants are undercapitalized to begin with, and it’s the No. 1 business that fails in the U.S.,” he said.Most small-to-mid-sized restaurants only have enough funding to remain open for six months, though they should — ideally — have the capital to keep running for a few years.“Six months goes by quickly when you open up a smaller restaurant. Unless people are flocking through the doors, it almost immediately becomes a situation where [owners] are chasing their tails from day one,” Hipp said
Uber is expanding its partnership with restaurant technology platform Toast. The new integration between Toast Delivery Services and Uber Direct lets U.S. restaurants save on delivery fees and expand their delivery radius, while using Uber’s delivery network to provide local delivery on phone orders and ones made via Toast digital ordering channels, the companies said in a Thursday (Dec. 5) news release,. This effort builds on the partnership formed by two companies in 2021, and comes at a time when restaurants are struggling to attract diners and find funding
For restaurants, there’s a funding gap, a chasm between gaining access to the capital they need to thrive and grow and the traditional channels offering that capital. Mitchell Hipp, divisional vice president at Rewards Network, told PYMNTS the gap can present itself as the pain points of setting up operations and progressing to become mainstays of the local economy. His insight comes from personal experience. He recounted how he put himself through college by working in the industry. He started as a dishwasher and eventually became an owner-operator
The next time you call your favorite restaurant, it may be AI that answers. That’s according to a report Sunday (Sept. 22) by Ars Technica on the popularity of artificial intelligence (AI)-powered hosts used by eateries. As the report noted, there are many companies specializing in the service, offering 24-hour responses to questions about things like menus, dress codes and seating arrangements, or making, changing, or canceling reservations