If you own a successful multi-unit independent restaurant company, you can learn from the experience of Yumilicious, which beat chain Pinkberry in North Texas. When Yumilicious opened their first tart frozen yogurt store in Dallas, I stopped by and talked to the owner, who told me he “had some relatives in California who have yogurt stores.” How Pinkberry Won … Continued
We all work so hard on our food. But the truth of restaurant success is that, for most independent restaurant companies, food just gets you in the game. The guest experience, the price/value relationship, location, atmosphere, hospitality level, and even seemingly small things like parking and access are what cause people to make a decision … Continued
Owners of successful multi-unit independent restaurant companies often misunderstand the real opportunities to cement success and reduce risk going forward. If you stop and ask an owner of a growing independent restaurant group, they will tell you that their number one concern is labor — and number two is competition. Guests and Employees Want the … Continued
Reaching a certain level of success gives you the ability to create even more success. Recently, a restaurateur came to me and said he would like to figure out how to work less and make the same amount of money. I challenged him. I asked, “Wouldn’t you rather work less and make more?” I believe … Continued
To be truly successful, owners of multi-unit independent restaurant companies must feel free to leave the office and their restaurants — either for a vacation or simply for a day for some creative brainstorming time — without worrying. They need to know that the people surrounding them can be trusted to do what is best … Continued
Not long ago I had lunch with a respected industry leader who is well known in his market for his career-long success in restaurant ownership over two different brands. Over that time, he has experienced more than his share of peaks and valleys. We were in one of his most successful restaurants, talking about my … Continued
Opportunity allows you to have a chance to successfully grow the multi-unit independent restaurant company you own, building your net worth and the quality of your life. When your organization is surrounded by opportunity, an element of excitement about the future permeates your organization. The best operators can see and feel it with senior management, … Continued
Capability is the first key factor to having a business that allows you to maximize its value, your net worth, and the quality, flexibility, and enjoyment of your life. My research shows that when you add capability to the other key factors, opportunity and strategy and surround that with an atmosphere of trust, you can … Continued
People often ask me to explain the many issues that face owners of successful multi-unit growing independent restaurant companies. If I had to distill all the conversations I have had with restaurateurs over the years down to one question, my choice would be obvious: “What is the difference between an independent restaurant company that has … Continued
Trade shows are dead. I can do it online. We have all heard about that. But, in the digital world, there is no substitute for occasionally tearing yourself away from your screens and meeting actual people in the physical world. One of my clients had been reading this newsletter for years before reaching out to … Continued