Sooner or perhaps later you will think about selling your restaurant. Maybe you want to retire, start another business, spend more time with family or just get out from under your operation. In this episode of the Restaurant Rockstars Podcast, fellow industry Pro Jaime Oikle and I will do a deep dive into the Ins & Outs of buying and selling restaurants.
After the coronavirus crisis, we’ll see an unprecedented number of troubled restaurants. Even previously successful brands might find it difficult to reopen and get their customers back. It’s the moment of truth for every restaurant owner. Under the pressure of the crisis, people don’t have time anymore to procrastinate and have to make hard choices. Whether you’ve been looking for a way out for quite some time or you are determined to save your restaurant, you should take action because it’s now or never.
When looking for financial help to start your business, you’ll have to choose between two ways of getting restaurant funding: debt or equity. There are many types of lenders and investors in the restaurant business all with different goals, requirements, and expectations. First, you should consider them all…
Selling food and beverage is NOT enough. Your restaurant needs multiple profit centers. Our goal is to bring you new ideas, inspiring guests and powerful tools to help improve your restaurant. So here’s a story: Professional musician travels the country, constantly ordering out at restaurants. He sees a broken system and a better way to streamline the online ordering process. It just so happens, he also has a tech background and creates a better way.
Two regular guys with a humble story who created a unique product, opened a small shop, then another and now they’re on location 13 in multiple states. We’ll learn how systems are the “key” to running and maintaining that all important consistency in multiple locations. How finding, inspiring and surrounding themselves with talented and motivated people are a huge component in rocking their brand. How never being afraid to experiment is really how to open a restaurant and how to run a restaurant.
When I ran restaurants I was obsessed with Profit. Not just saving costs, but squeezing every dime of profit across the operation. In this episode you’ll learn: How to save 8 – 12% on inventory purchasing, cloud based software that manages your food and beverage Inventory as wll as recipe management, depletion and menu costing. Believe me, so many restaurants are missing these critical details at their peril. We’re talking about saving money and finding money.
Hans and I speak about cultivating and nurturing a great staff, the importance of daily training, maintaining the all-important financial controls, creating a warm inviting ambiance that captures the diner’s imagination and the marketing strategy that defines the brand. We even talk about how to share the wealth between front and back of house. In a sea of competition whether you’re new to the business or a veteran, this approach demonstrates how to open a restaurant, how to run a restaurant and how to increase restaurant business
Tune in to this episode to find out how to increase sales in a restaurant through an amazingly effective Marketing Strategy. I’m a huge believer in building that all important “Affinity” with your customers. This was super-powerful when I ran restaurants and it still is today and here’s the “key”. We’ll learn the key-steps to building a list, getting deep engagement from your list, tapping customer data through effective surveys and using that feedback to increase restaurant sales and profit. This is how to run a restaurant folks.
What if you could gain decades of operating experience in just an hour? All the ideas that you could instantly execute, the headaches and pitfalls you could avoid, not to mention the leg up on your competition. Stay tuned. The “key” is to listen to this episode and then run right out and join your state restaurant association. Today, I’m speaking with Mr. John Barker the President and C.E.O. of the Ohio State Restaurant Association. John is an industry veteran with an illustrious prior career in numerous positions with Wendy’s. Now he’s passionate about helping his members, restaurants and his students succeed.
I’m speaking with Mr. Matt Chappell of Gather, a Farm Fresh Eatery in Yarmouth on the beautiful coast of Maine. I want to share the challenges, the triumphs, the decisions, the mistakes and the ultimate learning on how to open a restaurant, how to run a restaurant profitably and successfully, how to increase restaurant sales and increase restaurant business.