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
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
I have never heard any of my clients (or anyone I know) say, “I took too many vacations this year and my business really suffered.” What I have heard: Your Summer Vacation Season 2024 This week marks the kickoff for summer vacation season, and, if my own block is an indicator, a lot of people … Continued
Restaurant Owners Success Club is a connected group of multi-unit restaurant owners who meet with me virtually to gain from my overview of what is happening in the industry, learn things to do now, compare notes on revenue and employee retention trends, and dive deeply and share stories on topics that make an impact. The … Continued
Wow! Next week’s calendar says, “Texas Spring Break” already. That means the time for owners of successful independent restaurant companies to get out and enjoy the success they have earned is NOW – not when they retire or sell (if they ever do). Last month, I met a restaurateur who has five units and had … Continued
I was having a drink with one of my clients and we were talking about the roles he and his wife were taking in their own business—which was very successful by any measure. They were working a lot. A lot. And seemingly forever. “We’ve decided we will work like dogs until we turn 50. Then … Continued