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.
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What it takes to turn your food passion into a successful business
Food. It fuels us. Inspires us. Brings us together. Expresses cultural stories. Reflects history. Nurtures. Can heal you. Can harm you. Evokes memories. Is multisensory. But what is the business of food?
In the past few years, with the explosion of Food TV, bloggers, influencers and foodies, food has become hip, trendy, artistic. Everyone has an opinion about food. Everyone has a relationship with food. Few make food their livelihood, whether through pursuing culinary schools and apprenticeships, or through turning a hobby into a profession. Now more than ever, there are new entrants to the market that don’t come from the industry. Some of this is because of the somewhat lower barriers to entry caused by things like incubator projects and ghost kitchens. This is also caused by the penetration of food into pop culture and its widespread appeal across a variety of audiences.
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