What would happen if you asked a bunch of restaurateurs how they’d react if they consistently received feedback that menu prices were too high? First, you would see them shake their heads in frustration, roll their eyes in disbelief, and face-plant on their dining table as a gesture of heartfelt exasperation. Then you would get … Continued
“Just how much of my time is this going to take?” the successful owner of an independent multi-unit restaurant group asked me when we started working together. This happens often when I am about to start work transforming a business. I could see the fear on his face: wide eyes, tilted head—the fear of having … Continued
My favorite time in the restaurant business is any period of growth. The future is exciting. Everything is possible. The smell of carpet glue and fresh paint is in the air. The chance to do it right from the beginning is intriguing and motivating. Common Threads of Restaurant Growth Right now I have clients growing … Continued
Recently I had the pleasure of buying a new car. I did not have a choice—mine got totaled. (We are fine, by the way. No injuries.) Having no idea what I wanted, that meant interacting with lot of car dealers and a lot of car salespeople. Four strange things happened: Two salespeople I met gave … Continued
Everyone likes a good story. Storytelling is how we communicate and influence people. Storytelling goes one step further than what you are currently doing. – Do you want to order the fantastic, juicy steak? Or order the steak the owner specifically chose because of how she felt first tasting it? – Do you want to … Continued
One of the many beautiful things about owning a successful independent multi-unit restaurant company is that revenue is in your control—and it can always be going up. But many restaurateurs don’t act that way. They have become me frustrated with next year’s industry forecasts that say traffic is going to be essentially flat, and increases in … Continued
When you look at expenses on your P&L, you are typically making sure numbers are low enough. On the other hand, when you look at guest comp expense, you ought to make sure it is high enough. If it is not, you are under-utilizing one of your greatest marketing tools. Experience tells me that most … Continued
All the growth in the industry is spending growth through PPA. Guest counts are going down. My advice to you and to my clients — successful owners of independent multi-unit restaurant groups — is to be good to yourself and forget all that. Put it out of your mind as if it does not exist. … Continued
One of my clients owns six restaurants, serving a combined million guests every year. Working together, we figured out how to raise their PPA by $1.00. That raised system-wide sales $1,000,000. And $650,000 dropped to the bottom line. Annually. My clients and I have done this time and time again. I have talked about it … Continued
There is a line unaccounted for on your P&L. It is called “missed opportunity.” By sheer accident of the way our accounting system works, missed opportunity is a controllable expense your successful, independent multi-unit restaurant company does not account for. Potential revenue and profit is pouring out of your restaurants; but, in the day-to-day, week-to-week, … Continued