As an independent restaurant owner you have the luxury and power of writing your own story in a way that many people envy. To not take advantage of that looks more like a wasteful tragedy than missed opportunity. In the restaurant industry, we all know our ticket times and we cancel a reservation on a … Continued
Recently, a partner in a startup chatted with me in the dining room of his first unit. He has aggressive goals for growth and wanted to discuss his second unit. He asked, “What are the biggest mistakes you see groups like mine make at the beginning of their development?” The first thing that came to mind was failure … Continued
Growth. It is the impetus of capitalism. So how do you know you are growing at the right pace? Every restaurant company we work with has a growth plan and a growth strategy. There is no one out there standing still that we know of. That is a function of the mind of the entrepreneur … Continued
Fundamentals may look like the boring stuff of business, but in fact they are the foundation for unique and special concepts that capture imaginations of diners and build wealth for their owners. Some companies do well because they are great at the fundamentals of business. Others prosper through the magic of branding and concepts, or … Continued
The best operators constantly update their image, offerings and physical plant or they risk falling behind. In a market where product changes quickly, information between customers who notice anything outdated or inferior travels even faster. Operators who fall behind eye deteriorating circumstances and think they can get by without re-investing in their product and facilities. … Continued
I know a restaurant manager who says,“Mistakes are unacceptable. But I do offer forgiveness.” That’s certainly one way of looking at it. Not my approach. I read a book that mentioned perfection. The author said it was the denial of humanity. We are all human, but what human can afford to make serious mistakes when they open a new business? In … Continued
Successful business people keep their eyes on their own product, creativity, service, culture and execution. When they do their job right, they have an awareness of what other businesses are doing, but spend their time perfecting what they themselves are doing. Quick service, fast casual, casual dining, fine dining. Think fast! There’s a good chance … Continued
You may have seen Capriotti’s Sandwich Shop in Vegas. Now, it’s coming to North Texas. The Dallas Business Journal recently wrote about their entry into the market. Staff Writer Steven Thompson asked me about its prospects. The sandwich restaurant segment is becoming focused on menu development, which gives a quality sandwich provider a good shot … Continued
Many of our clients have asked me about franchising the brands we are helping them to grow. Who wouldn’t think about that? The idea of plenty of mail-box money and growing a business through capital from franchisees is very attractive. My advice is clear. The only reason to franchise is if there is a realistic … Continued