Chains won the pandemic – independent restaurants lost. Chains leveraged their financial and resource superiority and, in a frightening (for us in the independent world) turn of events, learned to act quickly. Chili’s created a virtual brand across 1,000 units in a few months. Chipotle waved what looked like a magic technology wand, and built … Continued
We live in uncertain times – in a maybe-recession, maybe-not recession, maybe-shallow recession. In the big cities where most of my clients operate, restaurants experience softer sales. Guests are spending, but that spending happens while on vacation in France, Spain, the Bahamas, Florida, Colorado, California, Galveston, the Gulf Shores, or Padre Island. When school goes … Continued
Right now, the kiddie pool in the hotel your family visits this summer is deeper than the management pool in the restaurant industry. Every few days I have a conversation where one of my clients complains that the management talent in their organization is not prepared to operate up to standards. Owners are frustrated about … Continued
Haruki Murakami wrote in his novel, The Wind-Up Bird Chronicle, “If people lived forever…they’d probably just figure, ‘Oh well, I’ve got plenty of time for that. I’ll think about it later.’” Stop operating your company with immortality in mind, like you have unlimited time to handle the issues that can make a huge difference for … Continued
Former Labor Secretary Robert Reich once said, “Economic forecasters exist to make astrologers look good.” There is no time like June 2022 to remember that. Winners exist in any economic condition. You don’t have to worry about all restaurants; just focus on yours. Then win. Whatever happens with our economy, the premium tools you use … Continued
The smartest operators know not to let their business become a clinical trial for an experienced senior chain restaurant person who works for an independent for the first time. Instead, they leave that risk to someone else. NEVER hire senior management unless they’ve had at least one successful stint at an independent company. This … Continued
David M. Solomon, the CEO of investment bank Goldman Sachs, surprised the world by offering senior bankers unlimited vacation time. He wants his people to “take the vacation they need so they can continue to run hard, be competitive, run productively, but take care of their families.” He sounds like me: One of my long-standing … Continued
Expecting managers to perform because, 1) You told them to, and 2) You pay them a lot, identifies as disappointing fantasy. Instead, stick to reality. And in reality, the management shortage actually looks worse this year. People have landed in their post-COVID-crisis spots in and out of the industry and don’t want to budge. And … Continued
A lot of restaurant owners have that tired old American dream: Work your whole life, then sell your business and retire for good. When my clients figure out the high cost of selling now, many see that dream as a nightmare. You have another option. Rather than selling your company, keep it – and let … Continued
By now, we’ve all shared the February New York Times article “Restaurants to Customers: Don’t Call Us, We Won’t Call You.” It’s about a growing trend in restaurants – of communicating only by email or text, not phone. In the article, one restaurant owner complains that, to talk to guests, “to pay someone $15 an hour or … Continued