There are always concepts that are growing, prospering, and building impressive results, outpacing the market. Yours ought to be one of them. For some others, something changed. Many long-time operators who had felt it was their birthright to see 4-5% annual increase every year got a surprise. The gains were not there. Was it too … Continued
When you are the best choice for the guest’s occasion, your guest counts increase. But who is your guest? And what is the occasion? Why You Shouldn’t Panic When you think about how much competition is out there, it’s easy to get overwhelmed. But don’t panic! You probably don’t have anywhere near as much competition … Continued
Recently, a partner in a startup chatted with me in the dining room of his first unit. He has aggressive goals for growth and wanted to discuss his second unit. He asked, “What are the biggest mistakes you see groups like mine make at the beginning of their development?” The first thing that came to mind was failure … Continued
Growth. It is the impetus of capitalism. So how do you know you are growing at the right pace? Every restaurant company we work with has a growth plan and a growth strategy. There is no one out there standing still that we know of. That is a function of the mind of the entrepreneur … Continued
Growing sales? Growing units? Every entrepreneur I have ever known thinks about these things every day. And it turns out the people who sell to them are thinking about the same things on their behalf. In the B to B world, vendors and suppliers come to know a great deal about the people they serve. … Continued
The good news? There’s a low barrier to entry in the restaurant business. The bad news? Well, you know. Most people think inferior locations, service, food or atmosphere are the factors that most often doom a restaurant. While those are all important, having enough cash in the bank can enable a start-up to survive them … Continued
The keys to building revenue in every business are understanding the lifetime value of a customer and learning how to turn occasional users into habitual ones. So I was glad to contribute to a discussion of that kind of success for the cover story in the current issue of Restaurantville Monthly, Eat/Pay/Love – Creating Customer … Continued
I recently read a great article in The New Yorker about declinism, the idea that things are getting worse and are about to get even more so and we are all going down the drain. It pointed out that the ability for this pattern of thinking to continue is completely dependent on the last person … Continued
You may have seen Capriotti’s Sandwich Shop in Vegas. Now, it’s coming to North Texas. The Dallas Business Journal recently wrote about their entry into the market. Staff Writer Steven Thompson asked me about its prospects. The sandwich restaurant segment is becoming focused on menu development, which gives a quality sandwich provider a good shot … Continued
Many of our clients have asked me about franchising the brands we are helping them to grow. Who wouldn’t think about that? The idea of plenty of mail-box money and growing a business through capital from franchisees is very attractive. My advice is clear. The only reason to franchise is if there is a realistic … Continued