RefinedNG’s Post

Many restaurants go from 1 to 2 to 3 to bankruptcy. Before opening more locations, make sure you have good leadership, efficient operations, and trained staff so you can successfully grow without going bankrupt. Want to learn more? Follow us on YouTube: @andrewscott9329 #restauranteur #multilocations #bankruptcy

Many restaurants go from 1 to 2 to 3 to bankruptcy. Before opening more locations, make sure you have good leadership, efficient operations, and trained staff so you can successfully grow without going bankrupt. Want to learn more? Follow us on YouTube: @andrewscott9329 #restauranteur #multilocations #bankruptcy

Growing up near Orlando and while at Florida Southern College - School of Business I developed a true fascination with the hospitality industry. With juggernauts like Walt Disney World and Darden practically around the corner, the industry's influence on Central Florida is profound. I was fascinated by how both of these companies operated and structured their businesses. Every experience with their brands, every touchpoint was a case study in translating deliberate, well-defined business processes into highly engaging and fulfilling consumer experiences that generated commercial value. Change is the only constant in business. It's through this lens that I watch as Red Lobster writes the next chapter of its history. As a 19-year old college junior, I had written to Dick Rivera, who ran Red Lobster for Darden and is a legendary hospitality executive, and he was kind enough to reply to a wide-eyed student, inviting me to a series of meetings at the Darden headquarters. Years later in 2013 Darden sold Red Lobster and it's fair to say its current owners have done the chain no favors. It's a brand that can do more and though my favorite Darden brand was Seasons 52, I can't help but hope that Red Lobster will find solid footing, in the process becoming a transformed business and a refreshed brand that engages new audiences and leverages its core to generate value for its owners. https://lnkd.in/e-HCc2B3 #hospitality #branding #redlobster #restructuring #business #redlobster #darden

A 700 location restaurant company just went bankrupt. 🦞 And it’s due to increased prices. Their revenue was growing artificially due to constant pricing increases. Which caused a steady decline in guest count. Eventually forcing them into bankruptcy. If this isn’t reason enough to avoid raising prices in order to battle rising costs. I don’t know what is. There is definitely a lesson to be learned here. And a mistake to avoid. Who’s with me❓ 👊🏻 Ps. In case you don’t know what company I am talking about…. It’s 🔴🦞 #restaurants #restaurantmanagement #hospitalitymanagement #strategy #leadership

I studied and wrote about the fascinating history of Howard Johnson's, the first great restaurant franchising businesses in the United States. Why did the business survive the Great Depression, World War II, and the inflationary 1970s to only fade away into nothingness? What did the financials look like when they were a publicly traded company in the 1960s and 1970s? Read on to learn more. https://lnkd.in/eYMyxd_a

Another #clientstory from The Profit Line. Matthew Faust is baking up success at Brodflour and is grateful to the team at The Profit Line who take care of his day to day financials so he can focus on growth. 🍞 If you are a #smallmediumbusiness, and are considering changing your current accounting team or processes, connect with Fern Gordon for a conversation about how they help their clients. #outsourcedaccounting

Join the expansion at Ascent Hospitality Management! Perkins Restaurant & Bakery and Huddle House are growing, and we want you 🫵 to be a part of it. If you're interested in learning more about the incentives and opportunities available to you, contact us today. We never stop, and neither should you! #franchiseopportunities #businessownership #growingbusiness #entrepreneurship

This is an excellent analytical piece by Joe Guszkowski detailing Red Lobster difficult steps of late. In retrospect, Darden $DRI under CEO Clarence Otis kept Red Lobster way too long in the 2010s era and put a boatload of CAPEX in remodeling the system. But SSS remained sluggish. When the Starboard/Jeff Smith board battle began in 2014, Darden finally found the courage to divest Red Lobster. Just days before the final Proxy Battle vote on the Starboard matter, Darden shocked the #restaurant investor and analyst universe by selling Red Lobster (and its real estate) to Golden Gate Capital Group. Enraged, stockholders, removed the entire Darden board. Ultimately, Darden emerged much stronger with CEO Gene Lee and team shortly thereafter. Golden Gate then quickly sold most of the Red Lobster real estate to other funds, meaning that the Red Lobster unit P&Ls henceforth were burdened with rent and/or CAMS payments. Red Lobster was on its own. Joe tells the rest of the story well. It should be noted that Red Lobster hasn't really had a true CEO in months and months. In my opinion, Royal Thai was very ill suited to manage a restaurant chain. (They over paid, it seems) Now Alvarez & Marsal is on duty at Red Lobster to realign the firm for a more orderly sale. At the same time, Gold Gate Capital Group is shopping its last restaurant holding, Bob Evans. I know Bob Evans the concept and was a supporter of the sale/breakup in 2017. Bob Evans has a regional zone platform which will be an issue for analysis. it will be interesting if both casual concepts are on the market at the same time.

Attention all new business leaders in the restaurant industry! 🌟 Join the webinar to discover the essential strategies for stabilizing new ventures in today's volatile market and intense competition. Don't miss out on this valuable opportunity to set your business up for success! 🚀 #RestaurantBusiness #Webinar #BusinessLeaders #Competition #MarketInsights

In this fiercely competitive arena for restaurant market share, where economic challenges loom large, and the stakes have never been higher, it’s critical to remember the timeless wisdom of President Dwight Eisenhower: “What counts is not the size of the dog in the fight—it’s the size of the fight in the dog.” As we navigate turbulent sales and traffic headwinds, this moment is a call to action for restaurant and operational leaders. So, muster your determination and rally your team, for in the battle for market share, it’s not just about the odds—it’s about the will to emerge victorious. #marketshare #profitability #restaurants Read more: https://buff.ly/47Z5KkB