THE EXPERIENCE ECONOMY

How to extract value from the Experience Economy to gain freedom from price wars

The Experience Economy is a concept I came across back in 2003 and has moulded how I look at our industry and helped me formulate a structure in which I started creating F&B concepts. This also became the framework I use to evaluate existing businesses to identify potential areas of improvement. These principles definitely require an update in 2020 to have grounds to stand on and be relevant in today’s environment. The aim of this article is to introduce you to this idea that helped me create F&B businesses which have longevity and competitive advantage. What I also hope to do is unlock what the new framework needs to be in this current market landscape.

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November 11, 2020January 24, 2021

RESTAURANT BUSINESS MODEL (4)

restaurant business model food business design

The building blocks of setting up and operating a successful restaurant

This is the fourth and final instalment in a four-part series of articles (4 of 4) focused on exploring the building blocks of a restaurant Business Model. These are what I believe form the foundation for setting up and operating a successful restaurant. In this article I discuss Support Services, Breakeven Point, EBITDA, Financing, Growth, and Effects of Business Model on Design.

November 10, 2020December 16, 2020

RESTAURANT BUSINESS MODEL (3)

The building blocks of setting up and operating a successful restaurant

This is the third in a four-part series of articles (3 of 4) focused on exploring the building blocks of a restaurant Business Model. These are what I believe form the foundation for setting up and operating a successful restaurant. In this article I discuss Marketing / Distribution Strategy, Adaptation, Phygital Strategy, Neighbourhood Strategy and Location.

November 9, 2020December 16, 2020

RESTAURANT BUSINESS MODEL (2)

The building blocks of setting up and operating a successful restaurant

This is the second in a four-part series of articles (2 of 4) focused on exploring the building blocks of a restaurant Business Model. These are what I believe form the foundation for setting up and operating a successful restaurant. In this article I discuss, Sequence of Service, Food Cost (COGS), Human Resources, Technology and Data Analysis / Sales Trends.

November 8, 2020December 16, 2020

RESTAURANT BUSINESS MODEL (1)

The building blocks of setting up and operating a successful restaurant

To me, the restaurant Business Model, is the foundation of any good restaurant business, but unfortunately, it is where most seem to fall short. There are myths out there that claim, 60%, 70% some even say up to 90% of restaurants fail within the first year of operation. I have yet to see concrete data on this. Regardless of whether these figures are accurate, any failure is heart-breaking and means someone’s life dream has been shattered. In most cases, this mainly happens because of one or a combination of missteps in the Business Model building blocks.