It could be easy to be stuck in your tracks right now. You look at a flat market, threats of tariffs that can upend the economy, and a stock market that bounces around daily like a basketball players’ “shooters bounce” that goes up and down three times before it makes it through the hoop. Yet … Continued
You can’t afford to have multi-unit supervisors just run the machine. That’s always true, but especially in volatile and uncertain times like these. Instead of running the machine, your multi-unit supervisors must be building a better one. Two Different Outcomes For people who work in your company, do the alarms in their phones wake them … Continued
The most important number for your restaurants – the one to look at every shift, day, week, and accounting period – isn’t on your P&L. That number? Guest count. I have clients who show up with positive comp guest counts. Those brands offer great experiences to guests who are willing to pay for unique and memorable … Continued
In this flat economy when you have to do all of the work yourself because the market is not going to do it for you, two questions hold the key to unlocking increased sales and profit: These days, you must have every possible element working in your favor. Making things right can add 5% to … Continued
Restaurant owners – don’t be like Southwest Airlines! Southwest has decided to start charging fees on top of fares, thinking they’ll make more money that way. They used to be the only airline out of the big four not to charge for checked bags; now they’ll start charging for checking bags on May 28th – … Continued
Early in my career, as an operator with partners, I experienced the joys of an imploding partnership: enriching lawyers and exchanging money, territories, and grief. My CPA told me, “A partnership is a like a marriage: easy to get into, hard to get out of.” Many of my clients love doing their own thing without … Continued
Which of these two statements do you think applies to most restaurant owners? After decades of working with successful owners of multi-unit independent restaurant companies, I guarantee the big issue is number 2: the work ethic (or paranoia) that leads to working too many hours. The Spring Break Example In Texas this week, we … Continued
Your guests demand more than ever and their tastes change. The good news? All the data shows they’ll still hand you their credit or debit card when you give them something they perceive as valuable. So, as part of your guest focus, never stop working on menu improvement. Does Your Menu Hold You Back? After a … Continued
Let’s take a vacation from focusing on issues (aka “opportunities”) you might have at your restaurants and ask you, “What’s your latest victory?” Does anything come to mind quickly? Hopefully – after a day spent dealing with the competition, immigration, workforce issues, egg prices, renewing your insurance, and retaining and motivating your work force – … Continued
Do you think your level of re-investment is too high, too low, or just right? Independent restaurant owners who understand the critical value of re-investing know that their real margins come from smart investments that help them keep up with guest expectations as well as their own mastery of profit. These owners typically operate at … Continued