Now is always the right time to put together and start acting immediately on a great plan to increase revenue, profit, and the overall value of your successful multi-unit independent restaurant company. You know what would make a huge impact in your business, because it has been sloshing around in your head forever. This is … Continued
Those of us with a pile of wisdom and experience from being in the restaurant industry for decades remember when a restaurant operations manual was the size of a phone book. Those of us with that track record of career-long success also remember what a phone book looked like. Today’s workforce? Not so much. So … Continued
Last week, a manager who had worked with me — back when I was operating — asked me for advice. A 250-unit restaurant group was recruiting him to leave his current GM job with another well-known company — where, by the way, I am proud to say he has been selected GM of the year…twice. … Continued
People hate airlines — or, at best, tolerate them. But, even with their product quality and customer service ratings plummeting, their profits are at record levels. That’s sustainable in the airline business, which is essentially closed to competition, but would be catastrophic in the restaurant business. Just ask the casual dining chains. A recent New York … Continued
Quick, recite the language you use to recruit and retain talent. Is it compelling? What does it say about your organization? What is special about working there? What makes working with your organization a winning strategy from the talent’s perspective? It probably isn’t rate of pay; nobody wins on rate of pay — the competition … Continued
“Butts in seats”. There are a lot of things we don’t say any more. We don’t say “waitress,” we don’t say “smoking or non-smoking,” and we certainly don’t say “cash register.” Nevertheless there are people out there who still say, “butts in seats,” as in, “All we need is more butts in seats” or, “When … Continued
If you know me well, you know I am a positive and optimistic person. But even I have to admit that, in this economy, finding unit-level management is brutal. It is easier for me to find a VP of Operations, CFO, or COO for the owners of successful independent multi-unit restaurant companies who make up … 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
When you’re successful, you don’t have to do what many families do every spring: figure out who will take care of the kids once the school year is done. Instead, you get to think about where you are going to go as a family. For a month. Or the whole summer. Summers with the kids … Continued
Who is the only person to whom you should give control of your successful multi-unit independent restaurant company? The person you just sold it to. Other than that, no one. While you are at your company, keep control. No matter how tempting the offer, control your brand, concept, company, and IP. Period. Ensure You Keep … Continued