November 3, 2008 | Link This | Email this | Comments (1)

If the Millennials haven’t been on your radar, it’s time to start paying attention. Born roughly between 1977 and 2000, The Millennials have surpassed the Boomer generation in size, and their reliance on foodservice.  There are 83 million Millennials vs. 78 million Boomers. More important, Millennials frequent all types of restaurants—from QSR to Casual Dining—significantly more than Boomers.

However, they make choices differently than Boomers, placing different priorities on restaurants’ attributes. Where they like to go, and what they like to do, may overlap somewhat with Boomers, but don’t count on it as a way to attract them to your restaurant.

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October 15, 2008 | Link This | Email this | Comments (0)

These are extraordinary times by any definition of the phrase. Darwin’s theory comes to mind.  The weakest of the (restaurant) species will likely go extinct. In fact, a number of units have already closed and many more may follow. 

I do not anticipate any material turnaround till mid 2010.  Many other economic advisors are not that optimistic!  The lesson to be learned is to adopt--even embrace changes to your operation--before it is too late to change. Changing sooner is better than changing later.

While the first thought would be to find new ways to cut expenses, that simply is no longer a sufficient strategy.  Yes, you must (continue) to find ways to reduce outgoing costs, but you must also find ways of enhancing your operation to retain as many visits as possible. 

September 22, 2008 | Link This | Email this | Comments (0)

Now that I have your attention, let me explain. This may sound like heresy, but perhaps we should embrace putting nutritional information on the menu. If we adopt a reasonable approach and actively implement that plan, we may save ourselves from an array of unreasonable requirements.

The trend is clear, municipal and state legislatures are looking for ways to protect consumers from themselves by requiring restaurant chains to post nutritional information on the menu. 

Some of these local initiatives are reasonable, but many are not. In addition, they all seem to vary on requirements. Imagine running a national chain that had to comply with 20, 40, or 60 (you pick a number) different local disclosure requirements.

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September 2, 2008 | Link This | Email this | Comments (2)

Why is it that so many unit-level managers (and frequently, even more senior-level managers) seem to have a case of myopia?
 
I just finished a tour of a number of stores for a due diligence project and observed that this all-too-frequent myopia occurred yet again throughout this concept. Too many units had execution and physical store flaws that were visible to me within two minutes of entering.

From my viewpoint, the “devil” is unit managers’ visual fatigue (for lack of a better phrase) as it relates to spotting and addressing physical plant issues in their own units. These managers would likely see the same things that I--and customers--see if they were to walk into the restaurant. Yet, when it comes to their ...Read More

August 19, 2008 | Link This | Email this | Comments (1)

You have probably heard about Locavores, but not likely to have given it much thought.  Well, from my viewpoint, its time to put on the thinking cap.

Locavores, if you are not familiar with the word, came into existence only a few years ago.  It refers to people who prefer to eat locally grown food.  The definition of local varies, but usually caps out around 200 miles or so.  Likewise, the strength of consumers’ preference for local foods also varies. But one thing is clear, local sourcing will continue to get more and more important to both consumers and operators.

Several factors are driving this preference for locally produced foods.