Next year, passengers on Southwest Airlines flights will be able to find their assigned seat and, for an upcharge, get to luxuriate in an extra 5 inches of legroom – just like they do now on Delta, American, and United. The days of open seating and “one class” cabins, like on the flight I’m on … Continued
In this challenging environment, 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 the top line and 2% to the bottom line. Everyone wants these numbers. Especially as they think about their business during … Continued
Wow! It’s already that time of year again: with your kids either excited for or dreading going back to school. While kids and teachers face the results of their “summer brain drain,” now’s a good time to remember that learning happens outside of school, too. For restaurateurs, that means it’s time to pay attention to … Continued
Michael Jordan and Tom Brady had coaches. The CEO of Ford has a coach – I’ve met him (the coach, not the CEO!). However successful you’ve been, and no matter how talented you are, coaching will bring out even more from you. So, who coaches you? And who coaches the people inside your successful multi-unit … Continued
Do your guests smile, feel happy, enjoy their meals, and tell their friends about that? Do your financial statements appear predictable and healthy – making you proud? Does your culture deeply permeate your restaurants every unit, every shift, every table, every time? Do your people demonstrably improve – doing things today that they couldn’t do … Continued
I am just back from another great Texas Restaurant Show where I spoke Saturday at the TRA/Morgan Stanley pre show Investment Boot Camp about 5 ways to finance restaurant company growth and on Sunday on the show floor Innovation Stage about the Silver Tsunami, unlocking opportunities with restaurant owners who want to sell or step back. A lot … Continued
At the Texas Restaurant Show this weekend at the Henry B. Gonzalez convention center in San Antonio – on Sunday, July 14, I will be part of an all-star team talking about “Silver Tsunami: Unlocking Opportunities With Restaurant Owners Who Want to Sell of Step Back”. It takes place on the show floor’s Innovation Stage at 12:30 … Continued
I admit it: I’m fascinated by Salad and Go’s business. It’s a QSR with no dining rooms, a footprint as small as 750 square feet, core menu items in the $6-$7 range, and an AUV north of $1MM. In all, they’re about as different as possible from the restaurants I work with. Their idea of offering people … Continued
Every restaurateur I know wants to either make 20% profit at the unit level or, if they don’t, they want to know why their restaurants don’t make profit at that level. They have heard the overworked saying that restaurants operate on “razor-thin margins.” Of course, that saying refers to the industry as a whole, so … Continued
What’s your plan as the “Silver Tsunami” hits? We can figure that out together when I speak at the Texas Restaurant Show on Sunday, July 14. What’s the “Silver Tsunami”? It’s the mass sell-off (or reimagining) of great companies that were started by baby boomers in the 70s, 80s, 90s and even the beginning of this century. These owners … Continued