How to buy or sell a restaurant with Brad Ruth.

https://restauranttopia.com/episode-159-how-to-buy-or-sell-a-restaurant-with-brad-ruth/

https://restauranttopia.com/episode-158-diving-deep-into-the-restaurant-marketing-mindset-with-chip-klose/

Welcome back, dear readers, to our latest episode recap. This time, we had the pleasure of hosting the insightful Chip Klose, author of "The Restaurant Marketing Mindset." With Brian Seitz and Anthony Hamilton guiding the conversation, this episode was nothing short of a culinary marketing masterclass!

Order Now

https://www.therestaurantmarketingmindset.com/

A Glimpse into "The Restaurant Marketing Mindset"

The restaurant industry is notorious for its harsh statistics. Many establishments struggle to even stay afloat. So, when a veteran like Chip Klose comes forward with years of hands-on experience and academic know-how, it's time to sit up and take notes.

In his latest book, Klose discusses the importance of shifting our mindset and implementing actionable steps when it comes to restaurant marketing. As he rightly points out, having a great culinary experience is just one part of the puzzle. Without effective marketing, even the best dishes might go unnoticed.

Order Now

https://www.therestaurantmarketingmindset.com/

About Restauranttopia

Restauranttopia is your go-to podcast for everything restaurant related. From operations to marketing, and everything in between, we bring experts from all corners of the restaurant world to share their insights, experiences, and tips to help you succeed in this dynamic industry.

Robin Gagnon is the Co-Founder and CEO of We Sell Restaurants, a brand that has carved an unparalleled niche in the industry as the nation's leading and only business broker franchise focused on restaurants. Under Robin’s leadership, We Sell Restaurants has grown to 45 states where it dominates the restaurant for sale marketplace and franchise resales, delivering on the founder’s vision to Sell More Restaurants Than Anyone Else. We Sell Restaurants was named one of the most influential suppliers and vendors in the country by Nation’s Restaurant News and has earned a position on INC 5000’s list of fastest growing privately held companies. Franchisees of We Sell Restaurants surveyed by Franchise Business Review placed it 25th in the nation in franchisee satisfaction. 

Robin is the Chair of the Women’s Franchise Committee of IFA. She is also an MBA and Certified Franchise Executive (CFE) in addition to her CBI (Certified Business Intermediary) designation from the International Business Brokers Association. She co-authored Appetite for Acquisition, a small business book award winner in 2012 and contributes frequently to industry press appearing in Forbes, QSR, Modern Restaurant Management, Franchise Update, and others. Entrepreneur has named her to their list of the “Top Influential Women in Franchising.”  

About We Sell Restaurants 

We Sell Restaurants is the nation’s largest business broker franchise focused exclusively on the sale of restaurants, with 20 years of experience in helping buy, sell and lease hospitality locations. We Sell Restaurants and its franchisees have sold thousands of restaurants across the country and maintain a listing inventory of more than $200 million online at their powerhouse restaurant for sale marketplace, including independent and restaurant franchises for sale. We Sell Restaurants is offering franchise opportunities for their brand in select market areas. For more information, visit www.wesellrestaurants.com.

https://restauranttopia.com/episode-154-preparing-your-business-for-sale-with-robin-gagnon-of-we-sell-restaurants/ 

Welcome to another exciting episode of Restauranttopia! In today's episode, we dive deep into a topic that every restaurateur should be well-acquainted with: Preparing your restaurant for sale. We're privileged to have Robin Gagnon, co-founder of "We Sell Restaurants", with us to demystify the process. Whether you're contemplating selling or merely want to be ready for the future, this episode is a goldmine of insights.

Key Takeaways:

1. What is an Exit Strategy?
   • Robin defines an exit strategy as a planned approach to transitioning out of your business, either through selling, merging, or closing down. Having a strategy in place ensures you get the best possible outcome when you decide it's time to step back.
2. When to Start Preparing?
   • Robin's advice? Start now. It's never too early to have a plan. The sooner you begin preparations, the more control you have over the sale conditions, maximizing the potential value of your restaurant.
3. Understanding Restaurant Valuation
   • A restaurant's value isn't just about its current revenue. Robin delves into the multiple factors that influence a restaurant's worth, including location, brand reputation, customer loyalty, and more.
   • Tools and metrics used in the valuation process to provide a clear picture of what your business is worth on the market.
4. The Process of Listing and Selling
   • From choosing the right time to list your restaurant to negotiating the final deal, Robin breaks down the steps involved.
   • Tips on presenting your restaurant in the best light to attract potential buyers.
   • Understanding the role of brokers and how they can ease the selling process.
5. Critical Record Keeping Requirements
   • Just like in any other business, keeping detailed and accurate records is essential. Robin highlights the kinds of records prospective buyers are most interested in and why.
   • The importance of maintaining organized financial statements, licenses, lease agreements, employee contracts, and other pertinent documents.

Closing Thoughts

Selling your restaurant can be an emotional journey. It's more than just a business transaction; it's parting with a place you've poured your heart and soul into. But with the right preparation and guidance, as provided by Robin in this episode, you can ensure your restaurant's legacy continues and that you reap the rewards of your hard work.

Episode 153: Increasing Efficiency with Mobile Communication Platforms

https://restauranttopia.com/episode-153-increasing-efficiency-with-mobile-communication-platforms/

Episode 153 of Restauranttopia Podcast: Increasing Efficiency with Mobile Communication Platforms

In this episode, we're diving deep into a topic that's revolutionizing the way we operate in the restaurant industry - mobile communication platforms.

What are Mobile Communication Platforms?

At their core, mobile communication platforms are dynamic tools designed to enhance real-time communication and collaboration using mobile devices. Think of apps and tools like:

• • 7Shifts
  • Sling by Toast
  • Push Operations
  • Restaurant365
  • Jolt
  • Harri
  • HotSchedules
  • Homebase
  • CrunchTime
  • MS Teams
  • One Note
  • Google Sheets

These platforms don’t just offer messaging capabilities. They bring to the table features like video conferencing, document sharing, and project management tools. And before you fret about group text messages blurring the line between work and personal life, remember that dedicated platforms keep work distinct from personal life, aiding the work/life balance.

Why Embrace Mobile Communication Platforms?

1. Young Workforce Magnet: The numero uno benefit is how these platforms make your restaurant operations alluring to the younger workforce. Look at how Amazon has harnessed this model, building a more cohesive, responsive team.
2. Augmented Communication & Collaboration: The essence of these platforms is to bring together team members, whether they’re in the kitchen, at a supplier's office, or even at home.
3. Boosted Productivity: Shorter response times mean faster decisions, which lead to streamlined operations and higher productivity levels.
4. Precision is Key: The readily accessible information ensures minimal errors and miscommunication.

Implementing Mobile Communication Platforms: Steps to Success

1. Identify Your Need Zones: Pinpoint the specific areas in your restaurant operations where these platforms can make a difference. Be it:
   • Scheduling
   • Onboarding/Training
   • Recipe Planning
   • Research
   • Marketing/Promotions
   • Resources
   • Communication with Mentors
2. Equip Your Team: A tool is only as good as its user. Ensure that your team is trained and comfortable with the platform. Organize tutorials and Q&A sessions.
3. Lay Down the Law: Set clear guidelines and expectations. This ensures that the platform is used professionally and responsibly.
4. Keep an Eye & Lend an Ear: Monitor the platform usage, ensuring it’s being used effectively. Moreover, always be ready to provide support and address any queries or concerns.

The restaurant industry, like any other sector, needs to leverage modern communication tools to stay efficient and relevant. With the insights shared in this episode, we hope you’re better equipped to harness the power of mobile communication platforms.

Stay tuned to Restauranttopia for more insights, tips, and industry secrets! Don't forget to subscribe, and here’s to running smarter, more efficient eateries!

Episode 152 How to Get Younger in Your Dining Room

https://restauranttopia.com/episode-152-how-to-get-younger-in-your-dining-room/

How to Get Younger in Your Dining Room

Offering a unique experience: Young diners are often looking for something that sets a restaurant apart from others. This could be a unique menu, a cool atmosphere, or a fun theme. Restaurants should consider offering something that will appeal to this demographic and make their establishment stand out from the crowd.

Providing shareable options: Young diners are often social and enjoy sharing food with friends. Restaurants can cater to this by offering shareable options such as small plates or appetizers that are perfect for groups.

Being social media savvy: Young diners are active on social media, and restaurants can use this to their advantage by creating visually appealing dishes that are "Instagram-worthy" and encouraging guests to share their experiences online.

Offering vegan and vegetarian options: Many young diners are health-conscious and may follow a vegan or vegetarian diet. Offering plant-based options can attract these customers and show that the restaurant is conscious of dietary restrictions and preferences.

Providing technology-based solutions: Young diners are often tech-savvy and appreciate the use of technology in restaurants, such as online ordering, mobile payments, and loyalty programs that can be accessed through a mobile app.

What not to do…

Providing affordable options: Young diners are often on a budget, so offering affordable menu options can make the restaurant more appealing. Restaurants can offer special deals, happy hours, or lunch specials to attract this demographic.

By incorporating these strategies, restaurants can attract young diners and create a loyal customer base for years to come.

When trying to attract younger restaurant customers, there are some things that should be avoided. Here are a few examples:

Being too gimmicky: While it's important to offer a unique experience, being too gimmicky can turn off younger customers who are looking for authenticity. Restaurants should be careful not to overdo it with trendy themes or menu items that feel forced.

Ignoring dietary restrictions: Younger customers are more likely to have dietary restrictions or preferences, such as vegan or gluten-free diets. Ignoring these needs can turn off potential customers and limit the restaurant's appeal.

Neglecting social media: Younger customers are active on social media and use it to make dining decisions. Neglecting social media or having a weak online presence can make the restaurant appear out of touch or unappealing.

Not providing good value: Younger customers are often on a budget and expect good value for their money. Restaurants that charge high prices without providing quality food and service will struggle to attract this demographic.

Offering limited options: Younger customers value choice and variety, and restaurants that offer limited menu options or lack flexibility with substitutions may not appeal to this demographic.

Not being eco-conscious: Younger customers are increasingly concerned with sustainability and the environment. Restaurants that don't prioritize eco-conscious practices may be seen as outdated or unappealing to this demographic.