Restaurant Unit & Revenue Growth
What Restaurants Focus on to Ensure Annual Revenue Growth
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 … Continued
Secrets the Smartest Restauranteurs Know About Targeting Guests
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 … Continued
Until infrastructure is in place, you can’t afford to grow.
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 … Continued
Grow at your own pace. But GROW!
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. … Continued
Want to know more about the industry? Ask the suppliers.
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 … Continued
Beware success on a shoestring
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 … Continued
Good Basics Make Great Habits.
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 … Continued
The Sky is Falling? The Sky’s the Limit!
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 … Continued
What tasted good in Vegas doesn’t stay in Vegas.
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 … Continued
To franchise? Or not to franchise?
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 … Continued
Crazy? I call it conservative.
Red Mango to grow by up to 100 stores by Steven R. Thompson / Staff Writer Dallas Business Journal 8/26 – 9/1/2011 Last week, Steve Thompson at the Dallas Business Journal quoted me in his story about Red Mango‘s plans for expanding by 100 stores … Continued
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