Miami is having a rough Summer – and unfortunately, local restaurants are absolutely taking it on the chin.
International tourism is down – Miami-Dade reports international travelers declined about 4% year over year.
That may not sound like a huge decline, but when you consider that most restaurants run on incredibly thin margins…even a small decline in visitors could be the difference between prosperity and collapse.
Plus, let’s face it – with food prices and labor costs increasing, restaurants are caught in a real bind. Pass on price increases to customers, and risk their loyalty…or eat the costs and sacrifice your margins?…