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The Restaurant Report

Business & Economics Podcasts

Uncover the secrets of the restaurant industry with The Restaurant Report, the longest-running foodservice podcast hosted by award-winning journalists. Dive into the latest trends, hear expert insights, and enjoy exclusive interviews with industry leaders every week. With over 25 years of insider knowledge, The Restaurant Report is your guide to navigating the ever-changing world of the food and hospitality scene. Subscribe now and join the thousands of food enthusiasts and industry professionals who rely on The Restaurant Report for their weekly dose of news, insights and inspiration.

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United States

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Uncover the secrets of the restaurant industry with The Restaurant Report, the longest-running foodservice podcast hosted by award-winning journalists. Dive into the latest trends, hear expert insights, and enjoy exclusive interviews with industry leaders every week. With over 25 years of insider knowledge, The Restaurant Report is your guide to navigating the ever-changing world of the food and hospitality scene. Subscribe now and join the thousands of food enthusiasts and industry professionals who rely on The Restaurant Report for their weekly dose of news, insights and inspiration.

Twitter:

@foodable

Language:

English

Contact:

9544163925


Episodes

The Evolution of Food Halls and Emerging Brands in the Face of Economic Challenges

3/26/2024
The Evolution of Food Halls and Emerging Brands in the Face of Economic ChallengesIn this episode of The Restaurant Report, host Paul Barron and guest co-host Amy Hom, experts in the restaurant industry and consumer sentiment, delve into the fascinating world of food halls and emerging brands. Despite current economic challenges, such as rising prices and inflation, which have reduced restaurant visits, food halls, and innovative culinary concepts are showcasing significant growth and resilience.The episode starts with a discussion on Wonder Food Hall, a unique concept that recently raised an impressive $700 million in funding. Wonder Food Hall stands out by bringing together a diverse array of local and regional culinary offerings under one roof, creating a one-of-a-kind dining experience for patrons. Barron and Hom explore the factors contributing to Wonder Food Hall's success and its potential impact on the broader food hall landscape. Next, the hosts shift their attention to Avalon Food Hall, a relatively new concept in Alpharetta, Georgia. Avalon Food Hall houses a collection of local and regional restaurants, bakeries, and culinary businesses, providing a vibrant and communal dining experience. Barron and Hom analyze the key elements that set Avalon Food Hall apart and discuss how it caters to consumers' evolving preferences, seeking unique and authentic culinary experiences.In the final segment, the podcast deeply delves into BFF Burgers, a startup brand in Shoma Bazaar. Based on their expert observations, Barron and Hom conduct a comprehensive AI outline and project analysis. They examine BFF Burgers' business model, menu offerings, and growth potential, providing valuable insights for aspiring restaurateurs and industry professionals. Throughout the episode, Barron and Hom offer expert commentary on the evolution of food halls and the rise of innovative culinary concepts. They discuss how these trends are shaping the restaurant industry and provide valuable insights into emerging brands' strategies to thrive in the face of economic challenges.Our experts have created a new feature in the podcast - The Drawing Board- offering ideas and strategies for rising star brands to develop steps to success. Executive Summary BFF Burgers is a lifestyle burger brand based in Miami, Florida, that has successfully connected with an emerging demographic and young families. With its excellent graphic and design style, strong social media presence, and high-quality products, BFF Burgers has achieved a consumer sentiment score of 82.8 out of 100, comparable to the top 25 Fast-Casual restaurant brands. Through targeted strategies, the company seeks to expand its customer base, develop a stronger lifestyle connection, increase average check size, and enhance its brand vision.Market Analysis The fast-casual burger market in Miami is highly competitive, but BFF Burgers has successfully carved out a niche by appealing to Latin females and young families. The company's strong social media presence and influencer partnerships have been critical to its success. However, expanding the customer base is possible by attracting more male customers and developing a stronger lifestyle connection with family-based consumers.Marketing Strategy Financial Projections Based on the implementation of the above strategies, BFF Burgers expects to: Conclusion By focusing on expanding its customer base, developing a stronger lifestyle connection, implementing an upsell model, and enhancing its brand vision through high-level influencer partnerships, BFF Burgers is well-positioned for continued growth and success in the competitive Miami fast-casual burger market. With its unique positioning and strong consumer sentiment, BFF Burgers has the potential to become a leading lifestyle burger brand in the region.

Duration:00:44:15

Winning Over Gen Z: The Future of Restaurant Loyalty Programs

3/11/2024
In this episode of "The Restaurant Report," host Paul Barron is joined by Zach Goldstein, CEO of Thanx, a leading restaurant customer engagement platform. The discussion delves into the evolving landscape of consumer sentiment toward dining out, with a particular emphasis on Gen Z's unique behaviors and preferences. As the restaurant industry grapples with declining consumer sentiment and lower frequency rates, Zach and Paul explore the role of loyalty programs in addressing these challenges. They shed light on how Gen Z's definition of dining out fundamentally differs from previous generations and how this shift reshapes the industry's customer engagement approach. Throughout the episode, Zach shares valuable insights and strategies for operators seeking to adapt to this changing consumer landscape. He discusses the power of personalization, the importance of seamless digital experiences, and the potential of data-driven loyalty programs to foster long-lasting relationships with Gen Z diners.Key Takeaways: Whether you're a restaurant owner, operator, or simply interested in the future of the dining industry, this episode offers valuable insights and actionable strategies to navigate the changing consumer landscape and win over the next generation of diners. Join Paul Barron and Zach Goldstein as they delve into the future of restaurant loyalty programs and explore how operators can adapt to the evolving demands of Gen Z consumers.

Duration:00:32:18

Will AI Create The Next Generation of Drive-Thur and Will Consumers Adopt?

3/4/2024
In this episode of The Restaurant Report, Paul Barron, a forward-thinker in technology and media, engages in a thought-provoking conversation with the CEO of ConverseNow, a company at the vanguard of AI-driven drive-thru technology. Together, they delve into the transformative power of artificial intelligence in reshaping customer service within the fast-food industry and beyond. Highlights of their discussion include: The Evolution of AI: An in-depth analysis of the current state of AI technology and its potential trajectory. They explore emerging trends, potential breakthroughs, and the ethical considerations of increasingly autonomous systems. The conversation illuminates how AI's rapid advancement will continue to alter the landscape of various industries, emphasizing adaptability and innovation. Adoption Process in the Restaurant Business: A comprehensive breakdown of how restaurants can integrate AI-driven solutions like ConverseNow's technology. They discuss the step-by-step process for onboarding, the challenges restaurants face during this digital transformation, and the tangible benefits such as improved efficiency, personalized customer experiences, and increased profitability. The dialogue also covers strategies for overcoming resistance to technological adoption within traditional business models. Building In-House Large Language Models: The dialogue critically examines why many enterprises or brands choose not to develop their large language models, despite the apparent advantages. They explore the complexities, costs, and expertise required to build and maintain these systems. The conversation highlights the importance of partnerships with specialized AI companies that offer scalable, customizable, and cost-effective solutions, enabling businesses to leverage the power of AI without the need for in-house development. This episode offers a rare glimpse into the future of AI in service industries, providing valuable insights for entrepreneurs, business leaders, and anyone interested in the intersection of technology, innovation, and customer service. Join us to uncover the practicalities and possibilities of AI, through the experiences of two industry pioneers leading the charge towards a more efficient, personalized, and tech-driven future. Savor.fm is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Duration:00:45:53

Casual Dining Begins Up Trend In Hospitality Sentiment

2/26/2024
Welcome to The Restaurant Report, where we delve into the exciting resurgence of casual dining trends in the hospitality industry. As consumers start to venture out again for dining experiences, casual eateries are seeing a significant uptick in popularity. In this episode, we explore the reasons behind this shift and what it means for the future of casual dining establishments. Today’s Guest - Hal Lawlor, President and COO of Smokey Bones Smokey Bones is a growing casual dining brand known for its delicious barbecue and creative menues. At the helm of this culinary adventure is Hal Lawlor, a seasoned professional with years of experience in the restaurant industry. Join us as we discuss: Please tune in to our podcast as we chat with industry experts, restaurant owners, and food enthusiasts to uncover the latest casual dining trends and what they mean for the hospitality industry. Don't miss out on this informative and engaging discussion!

Duration:00:33:58

Historical Impact on Regulations Affecting Restaurant Operators

2/9/2024
In a recent episode of the Restaurant Report Podcast, Sean Kennedy, Executive Vice President of Public Affairs at the National Restaurant Association, discussed several critical issues impacting the restaurant industry. Kennedy, who joined the association in June 2019, sheds light on the Association's advocacy efforts and strategic initiatives to support restaurant operators nationwide. We discussed various regulations that could affect the restaurant industry in ways we have not seen in the past two decades. Credit Card Competition Act: Addressing Swipe Fee Challenges One of the major topics discussed in the podcast is the Credit Card Competition Act. Kennedy emphasizes how credit card swipe fees often rank as the third highest cost for restaurants, following food and labor expenses. The proposed act seeks to introduce greater competition among banks by requiring the issuance of new cards to support at least two processing networks. This move aims to alleviate the financial burden imposed by swipe fees on restaurant businesses. NLRB 2023 Joint Employer Final Rule: Implications for Franchise Operators Kennedy delves into the implications of the NLRB's 2023 Joint Employer Final Rule, which broadens the circumstances defining joint employer status under the National Labor Relations Act (NLRA). This rule change significantly increases liability risks for operators engaged in franchisor-franchisee relationships or independent contracts for onsite services. Kennedy highlights the Association's support for Congressional actions aimed at overturning this rule to protect operators' interests. FTC "Junk Fees" Proposal: Impact on Restaurant Pricing and Transparency The discussion extends to the Federal Trade Commission's proposed rule on "unfair or deceptive fees," targeting industries including restaurants. Kennedy outlines the potential consequences of the proposed rule, which could compel restaurants to eliminate various surcharges and adopt a pricing model reflecting total costs per item. This shift not only imposes substantial compliance costs but also diminishes customer transparency and affects the wages of tipped employees. Preserving the Tip Credit: Clarifying Misconceptions Kennedy addresses misconceptions surrounding the tip credit and labor groups' efforts to eliminate it. Contrary to claims of subminimum wages, Kennedy explains that tipped workers already earn at least the minimum wage, with tips supplementing their earnings. Preserving the tip credit is crucial for maintaining the current wage structure and ensuring fair compensation for tipped employees across the industry. Listen to the entire Episode and Subscribe! Savor.fm is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Duration:00:22:47

How Consumer Pricing Pushback Fuels the Rise of Dynamic Menu Pricing Strategies

1/30/2024
In this episode, Paul Barron discusses the fascinating world of dynamic pricing strategies and the potential role of AI in reshaping menu modeling. Ashwin Kamlani, the CEO of Juicer, joins him as they explore the exciting possibilities that lie ahead in the food service industry. Ashwin Kamlani, CEO of Juicer: Ashwin Kamlani, an expert in AI and its applications, joins Paul Barron to discuss the potential of AI in revolutionizing menu modeling. As the CEO of Juicer, Ashwin has a unique perspective on how artificial intelligence can be harnessed to optimize menu pricing and enhance customer experiences. The Evolution of Dynamic Pricing: Dynamic pricing is not a new concept, but it's gaining newfound significance in today's fast-paced and data-driven world. Dynamic pricing has entered foodservice traditionally associated with industries like airlines and ride-sharing services. Ashwin takes us through the fundamental principles of dynamic pricing and why it's becoming increasingly essential for restaurant businesses. The Role of AI in Menu Modeling: Artificial intelligence is poised to transform the way restaurants approach menu modeling. With AI-driven algorithms, businesses can analyze vast amounts of data to determine optimal pricing strategies, taking into account factors such as demand, time of day, and even weather conditions. Ashwin Kamlani shares insights into how Juicer is at the forefront of this technological revolution. Benefits of AI-Powered Menu Modeling: In this episode, Paul Barron and Ashwin Kamlani explore the myriad benefits of integrating AI into menu modeling. These advantages include:

Duration:00:38:50

The Breaking Point for Fast Casual: Are We at a Reflection Point for Technology, Consumer, and Operational Conflict?

1/22/2024
In this episode, Amy Hom, a veteran of the restaurant brand and technology space, and Paul Barron delve into the challenges faced by fast casual restaurants in the current landscape where technology's role in driving top-line revenue and profits is not as promising as expected. This issue is rooted in the collision between technology and consumer behavior, placing restaurant brands in a complex position. One of the fundamental dynamics at play is the dominance of millennials in the social commerce market. In 2023, the global social media audience was estimated to comprise approximately 4.9 billion people, marking a substantial increase from previous years. Among these users, the 25-34 age group, which consists mainly of millennials, stands out as the largest demographic. The episode explores why technology companies may be experiencing a significant downturn, mainly when fast-casual restaurant operators are increasingly focused on cutting expenses and demanding that technology becomes a performing asset rather than just an operational cost. Adding to this intricate situation is the shifting demographic landscape. Baby Boomers, who are on the cusp of retirement, will range in age from 60 to 78 next year. Simultaneously, Generation Z, aged 12 to 27 next year, is rapidly graduating from school and entering the workforce. Gen Zers are emerging as the leading consumers of fast-casual restaurant food. This shifting demographic trend forces restaurant CEOs across the industry to reflect on their strategies and adapt to these changing dynamics. The interplay between technology, consumer preferences, and demographics presents challenges and opportunities for the fast-casual restaurant sector. To gain a deeper understanding of this complex issue, don't miss the full episode, where top analysts and consultants in the restaurant sector provide insightful discussions and analysis.

Duration:00:44:07

Create a Brand That Can Last The Next Consumer Cycle

12/6/2023
In today’s podcast, we dive into the future of technology and innovation that seem to dominate the consumer landscape; there is a growing paradoxical trend among millennials. Many of them are embracing traditional values while seeking unique and creative experiences. This shift in consumer preferences has not gone unnoticed by brands like Chicken Salad Chick, which has successfully tapped into this emerging trend. We will explore how Chicken Salad Chick connects with millennials through its blend of traditional values, technology, and creative experiences. The Rebirth of Traditional Values Millennials, often characterized as the generation of change and progress, are also known for their appreciation of traditional values. Many are redefining what these values mean in the modern context. Chicken Salad Chick is a brand that has recognized the power of nostalgia and tradition, offering a menu rooted in classic Southern recipes and comfort food. Their commitment to quality ingredients and home-style cooking resonates with millennials looking for authenticity in a world filled with fast-food chains and processed options. Tech-Forward Approach While Chicken Salad Chick embraces tradition in its menu offerings, it doesn't shy away from technology. The brand has leveraged digital platforms to enhance the customer experience. With user-friendly mobile apps and online ordering systems, they make it easy for tech-savvy millennials to access their favorite comfort food conveniently. Moreover, data-driven marketing strategies and loyalty programs cater to the digitally connected millennial consumer, ensuring that they stay engaged with the brand. Creative Experiences One of the ways Chicken Salad Chick connects with millennials is by offering creative experiences beyond just the food. The brand hosts events, promotions, and collaborations that appeal to the generation's desire for unique and Instagram-worthy moments. Whether it's themed pop-up shops, limited-time menu items, or partnerships with local artists, Chicken Salad Chick keeps millennials engaged and excited about their brand. Predictions Based on Historical Analysis Based on historical analysis and current trends, it's likely that Chicken Salad Chick will continue to thrive among millennial consumers. Here are some predictions:

Duration:00:40:20

Taziki's Mediterranean Cafe Expands It's Flavors and Followers

12/1/2023
In today's podcast, we delve into the world of Taziki's Mediterranean Cafe with the extraordinary Julie Wade. Join us as we embark on a culinary adventure, exploring the vibrant flavors and rich history of Mediterranean cuisine. Julie, the visionary behind Taziki's, shares her insights on creating a thriving restaurant business, fostering a passionate team, and delivering an exceptional dining experience that has captivated guests for over two decades. The restaurant industry is constantly evolving, and with the emergence of the next consumer generation – Generation Z – it's more important than ever to adapt marketing strategies to resonate with this tech-savvy, experience-driven demographic. This generation is characterized by their digital fluency, social consciousness, and preference for personalized experiences. To effectively capture their attention and cultivate loyalty, restaurants must focus on three key pillars: branding, technology, and consumer experience. Branding: Building a Resonant IdentityIn today's competitive landscape, a strong brand identity is essential for any restaurant. Gen Z is drawn to brands that align with their values and reflect their personalities. Restaurants should craft a brand that is authentic, engaging, and stands out from the crowd. This can be achieved through consistent messaging, visually appealing branding elements, and a unique brand voice that resonates with the target audience. Social media platforms like Instagram and TikTok offer excellent opportunities to showcase the brand's personality and connect with Gen Z consumers. Technology: Embracing Convenience and Innovation Gen Z is accustomed to seamless digital experiences, and restaurants must keep pace with their technological expectations. Embracing technology can enhance convenience, streamline operations, and create a more personalized experience. Consider implementing online ordering platforms, mobile payment options, and interactive digital menus. Explore the use of social media marketing tools to target specific demographics and engage with potential customers. Leverage technology to gather customer feedback and tailor offerings to their preferences. Consumer Experience: Creating Unforgettable Moments Gen Z is not just looking for a meal; they seek memorable dining experiences that go beyond the food. Create an atmosphere that is inviting, trendy, and Instagram-worthy. Consider incorporating interactive elements, such as live music or cooking demonstrations, to keep customers engaged. Offer unique menu items that cater to their dietary preferences and values, such as plant-based options or locally sourced ingredients. Host events and workshops that align with their interests, such as cooking classes or sustainability seminars. Bridging the Gap: Combining Branding, Technology, and Experience The key to successful restaurant marketing lies in seamlessly integrating branding, technology, and consumer experience. A cohesive brand identity should be evident across all digital platforms, physical spaces, and customer interactions. Technology should be used to enhance the overall experience, not replace it. And every aspect of the dining experience should contribute to building a loyal customer base. Visit www.savor.fm for more podcasts like this Follow on X: Savor_fm

Duration:00:37:31

Five Secrets To Brand Growth w/ Angry Chickz

11/27/2023
In this episode of The Restaurant Report, we sit down with Mike LaRue, a 16+ year franchise veteran who has, since the beginning, maintained a focus on emerging brands. Mike is the VP of Franchise Development for Angry Chickz, a fast-growth Nashville hot chicken brand. We discuss how this brand could build 20+ units without an infrastructure, which could be its secret weapon to success. Link here for full access to our 5 brand growth tips - ~ Check out all our podcasts on savor.fm ~ Looking to take your restaurant into the next generation of Web2 and build a new loyalty or brand IP opportunist? Check out Rever Networks

Duration:00:41:42

What to Watch For When You Take On Capital As a Restaurant Startup

11/24/2023
In today’s podcast, we interview Robert Hersch of Mastodon Ventures and discuss the market for raising capital and what you should be doing to prepare. We break down a variety of ideas. My 8-Step Plan for Raising Capital As a startup, this can be a daunting task, but it's also an essential part of growing your business. Here are some of the best steps for taking on capital and what to watch out for: 1. Know your funding options. There are a variety of ways to raise capital for your startup, including: 2. Determine how much funding you need. This will depend on your stage of development, your business model, and your burn rate (the rate at which you are spending money). This is also an area that can become very sticky with valuations of your business or idea, which you may think is more than the investor - get a third party to help you evaluate. 3. Write a business plan. This is a document that outlines your business strategy, including your target market, your competitive landscape, and your financial projections. You matter more at this stage, and the narrative is the killer app, so know what your mission is and understand the total addressable market along with the competition and a good SWAT plan is always welcome. 4. Identify potential investors. Research investors with a track record of investing in startups in your industry. This is critical and is kind of like choosing a family member - choose very wisely this can come back on you very easily. 5. Network and make connections. Attend industry events, join online forums, and connect with other entrepreneurs. But best of all referrals and high-value connections are the ones that will make a difference in getting your idea out there to those who matter most. 6. Practice your pitch. Your pitch is a short presentation that you will give to potential investors to explain your business. Focus on the mission and revenue opportunity - don’t get too tactical, and try to keep it simple. 7. Be prepared to negotiate. Investors will want to make sure that their investment is protected, so be ready to negotiate terms such as equity and board representation. Structure your deal or term sheet with a full understanding of what you are giving up as a founder - don’t write yourself out of the deal just to get it going, unless of course, you are looking for an exit. 8. Be patient. Raising capital can take time, so be patient and persistent.Here are some things to watch out for when taking on capital: Raising capital for your startup can be a complex process, but it is also essential to growing your business. Make sure to get good legal and financial representation to start the process right, you will thank me later if you do this alone!

Duration:00:32:43

Tech and Consumer Trends for 2024 with Erle Dardick of Lunchbox

11/10/2023
In this episode of The Restaurant Report podcast, I speak with Erle Dardick, of Lunchbox, a leading restaurant e-commerce platform. We discuss the top tech and consumer trends to watch in the restaurant industry in 2024, including:

Duration:00:32:25

What Are The Real Trends Driving Consumer Loyalty?

10/30/2023
In today’s Pod, we chat with Raju Malhotra, Chief Product and technology Officer at PAR Technology (NYSE: PAR). He joined PAR by acquiring Punchh, an omni-channel loyalty and engagement startup based in San Mateo, CA.This discussion takes turns into the future of foodservice and tech as well as the overall guest loyalty journey that has begun to shift for Gen Z. Gen Z Brand Loyalty: UX and Digital Gamification Gen Z is the most digitally native generation to date, and their brand loyalty differs from previous generations. They are more likely to switch brands if they don't have a positive user experience (UX) or if the brand doesn't offer digital gamification elements.User Experience (UX) Gen Z values UX above all else. They want websites and apps to be easy to use, navigate, and understand. They also want them to be visually appealing and engaging.If a brand's website or app is complex to use or not visually appealing, Gen Z consumers are more likely to abandon it and go to a competitor.Digital Gamification Gen Z also loves digital gamification. They want brands to create experiences that are fun and interactive. This could include things like quizzes, polls, contests, and rewards programs.If a brand doesn't offer any digital gamification elements, Gen Z consumers are less likely to be loyal to it.How Brands Can Use UX and Digital Gamification to Build Loyalty with Gen Z Here are some tips for brands on how to use UX and digital gamification to build loyalty with Gen Z: By following these tips, brands can create a UX and digital gamification experience that Gen Z consumers will love. This will help to build loyalty and encourage them to keep coming back.Who is getting UX and Digital Gamification right with Gen Z

Duration:00:31:28

Fastest Drive-Thru in QSR - Is Speed Hurting or Helping Restaurants

10/16/2023
The restaurant industry has been at the forefront of innovation in today's fast-paced world. From digital menus to contactless payments, the industry has continually adapted to meet the changing demands of consumers. However, there is a challenge that the industry is currently facing, one that is directly impacting consumer sentiment: the struggle to keep pace with evolving expectations, particularly in areas like drive-thru service accuracy and staff engagement.Consumer Expectations vs. Reality: Consumer sentiment is a crucial aspect of any business, and the restaurant industry is no exception. Consumers now expect convenience, speed, and accuracy in their dining experiences, whether they're dining in or opting for the drive-thru. However, recent trends indicate that the industry is grappling with meeting these expectations, which has led to a decline in consumer sentiment.Drive-thru service has long been a staple of the fast-food industry. It's all about convenience and efficiency. However, in recent times, drive-thru accuracy has become a significant pain point for consumers. Orders are often incorrect, leading to frustration and dissatisfaction. This is where technology and data analytics can play a pivotal role.By analyzing historical data on drive-thru orders, restaurants can identify patterns and areas where errors are most likely to occur. With the help of AI and robotics, some chains are even experimenting with automated order-taking systems to minimize human error. Predictive algorithms can ensure that orders are accurate, ultimately improving consumer sentiment.Another critical aspect of the restaurant experience is staff engagement. Friendly, attentive staff can elevate the dining experience, but a lack of engagement can have the opposite effect. Technology and AI-powered tools can aid in staff training and engagement.By collecting data on staff interactions and customer feedback, restaurants can identify areas lacking staff engagement. Predictive analysis can help select suitable candidates during the hiring process, ensuring they have the necessary skills and personality traits to provide excellent customer service.Taco Bell Sets the Speed Record: Taco Bell emerged as the frontrunner in sheer speed, boasting an impressive total average time of just 278 seconds at their drive-thrus. This remarkable feat demonstrates their commitment to delivering a quick and efficient dining experience for their customers.Consumer Sentiment is taking a bit of a dip for Taco Bell, contributing to a lower sentiment score from last year at 75.28, falling a dramatic 5 points to 70.22. Three critical areas noted in the Restaurant Power Index Ratings were accuracy and food quality, with speed coming in third in the lowest sentiment category.Source Restaurant Power Index Chick-fil-A's Unique Approach: Chick-fil-A, on the other hand, took a somewhat unconventional approach to measuring speed. While their average total time stood at 436 seconds, they managed to outpace the competition when considering the number of cars in the drive-thru. This adjustment lowered Chick-fil-A's speed to 127.89 seconds, faster than even Taco Bell's adjusted average of 290 seconds. Chick-fil-A's ability to maintain a brisk pace, even during peak hours, is a testament to its operational excellence.Chick-fil-a has put in one of the highest Consumer Sentiment scores ramping up from a 78.96 in October 2022 to a blistering 84.09 in 2023 - this brand continues to out perform almost every QSR in the market with consumer sentiment which is showing heavily in the overall average unit sales. Source Restaurant Power Index Source: the Restaurant Social IndexIndustry-Wide Improvements: What's also noteworthy is the overall improvement seen in the QSR industry from 2022 to 2023. The average time spent at drive-thrus across all brands decreased from 373 seconds to 343 seconds. This positive trend was primarily driven by fewer cars in the drive-thru lanes. QSR brands are...

Duration:00:14:22

Consumer Spending Expected to Plummet at Restaurants This Fall

9/22/2023
Consumer spending is the driving force of the US economy, accounting for about 70% of GDP. So when consumers start to cut back on spending, it's a big red flag for the economy. That's why economists worry about a potential fall consumer spending drop. There are several factors that could contribute to this, including: Current credit pressure Credit pressure is the difficulty that borrowers have in repaying their debts. It can be caused by several factors, including rising interest rates, job losses, and unexpected expenses. This could have the most significant impact on restaurant spending. Recent Savor.FM Data Trends 42% of 18-34 Plan to reduce restaurant spending this Holiday season 38% of Families are looking to reduce their restaurant visits this season Credit pressure is currently on the rise in the US. This is partly due to the factors mentioned above, such as high inflation and rising interest rates. It is also driven by the fact that consumers have accumulated more debt than ever. Inflation pressure Inflation pressure is the upward pressure on prices caused by an increase in the demand for goods and services. Supply chain disruptions and other factors can also cause it. Inflation pressure is currently at a 40-year high in the US. This makes it more expensive for consumers to buy the things they need and want. It is also putting a strain on businesses, making it more difficult for them to operate. What to do If you are concerned about a potential consumer spending drop in the fall, there are a few things you can do to prepare:

Duration:00:18:56

Lettuce Entertain You: Leveraging Concepts, Location, and Branding to Create a Fine Dining Empire

9/19/2023
In this podcast, we visit with the Lettuce Entertain You Leadership team to discus success and the formula for the future. Featuring Lettuce Entertain You Enterprises (LEYE) is a family-owned restaurant group founded in 1971 by R.J. Melman. The company has become one of the largest restaurant groups in the United States, with more than 120 restaurants and 60 brands nationwide. LEYE is known for its innovative and diverse portfolio of restaurants, which ranges from casual to fine dining. In recent years, LEYE has experienced massive growth in the fine dining category. The company has launched new refined dining concepts, including RPM Italian, RPM Steak, and Sushi-san. LEYE has also expanded its existing fine dining brands, such as Gibsons Steakhouse and Mon Ami Gabi. Several factors have contributed to LEYE's success in the fine dining category. First, the company has a strong track record of developing innovative and successful restaurant concepts. LEYE's refined dining concepts are known for their modern cuisine, stylish décor, and vibrant atmosphere. Second, LEYE carefully selects the locations for its restaurants. The company's fine dining restaurants are typically located in high-traffic areas with a high concentration of affluent consumers. For example, RPM Italian is located in the Forum Shops at Caesars Palace in Las Vegas, while Gibsons Steakhouse is located in the Gold Coast neighborhood of Chicago. Third, LEYE invests heavily in branding. The company's fine dining brands are well-known and respected by consumers. LEYE also uses its branding to create a sense of exclusivity and luxury around its restaurants. For example, RPM Italian has a private dining room that can be reserved for special occasions. LEYE has created a successful fine dining empire by leveraging its concepts, location, and branding. The company's fine dining restaurants offer consumers a unique and upscale dining experience. LEYE can also attract affluent consumers by locating its restaurants in high-traffic areas and investing in its branding. Here are some specific examples of how LEYE has leveraged concepts, location, and branding to create the next empire in food service: LEYE's success in the fine dining category is a testament to the company's ability to develop and execute a winning strategy. By leveraging its concepts, location, and branding, LEYE has created a restaurant group well-positioned for continued growth in the years to come.

Duration:00:13:24

Food Trends Impacting Food Away From Home

9/18/2023
In this podcast, we get a chance to talk with Stefanie Miller, President, Away From Home at Kellogg Company - We explore the way we consume food away from home is rapidly evolving. Whether grabbing a quick snack at a convenience store (C-Store), dining on a military base, or choosing options at a college or university cafeteria, the food service industry is witnessing significant changes. One of the most notable trends is the shift towards more snacking and a growing demand for healthier food selections. Let's delve into these exciting developments and back them up with data. The Snacking Revolution Snacking has become a pervasive part of our daily lives. People are no longer restricted to traditional meal times, and this trend is evident across all the sectors we'll explore. The Health-Conscious Consumer In tandem with the snacking trend, there is a growing awareness of the importance of healthier food choices. Consumers are increasingly seeking options that align with their wellness goals. Data-Driven Insights Predictions for the Future Based on historical analysis and these trends, we can make some predictions: In conclusion, the future of food away from home in C-Stores, military dining, and college and university cafeterias is shaped by the twin trends of increased snacking and a focus on healthier options. As these trends continue to gain momentum, we can anticipate a more dynamic and diverse landscape in the food service industry, offering something for every palate and dietary need.

Duration:00:16:37

Market Trends and Younger Leadership Leaning Into Diversity

9/15/2023
In this episode, we dive into research and trends from TJ Wommack, Partner at AlixPartners. We discuss the composition of management teams is undergoing a significant transformation. This shift is changing the face of leadership and influencing business strategies, particularly in the restaurant industry. This article delves into the demographic shifts in management teams and their profound impact on promoting diversity and inclusion. We will also present data that reveals a notable trend: 36% of restaurant operations are led by individuals under the age of 40, while almost 70% of emerging brands are helmed by younger leadership. The Changing Face of Restaurant Leadership Traditionally, the restaurant industry has been characterized by older, more established leaders. However, the past few years have seen a dynamic shift in the age demographics of restaurant management. A substantial number of younger professionals are taking the reins, bringing fresh perspectives and innovative ideas to the table. Age Distribution of Restaurant Management Teams Percentage of Management Teams Under 40 | 36% 40-55 | 44% Over 55 | 20% This data, nearly 36% of restaurant management teams are now led by individuals under the age of 40, signifying a significant generational shift in leadership. The Rise of Emerging Brands and Younger Leadership One striking trend in the restaurant industry is the surge of emerging brands that are capturing market share at an astonishing pace. These brands are often characterized by their innovative approaches to foodservice, ambiance, and customer engagement. What's particularly interesting is the composition of their leadership teams. Age of Leadership in Emerging Restaurant Brands Percentage of Leadership Teams Under 40 | 68% 40-55 | 29% Over 55 | 3% This data reveals that a staggering 68% of emerging restaurant brands are led by individuals under 40. This age group's dominance in emerging brands suggests that younger leaders are at the forefront of driving innovation and change in the restaurant industry. The Impact on Diversity and Inclusion The influx of younger leaders in the restaurant sector has several implications, one of the most prominent being a renewed focus on diversity and inclusion. Younger generations tend to have a stronger commitment to creating diverse and inclusive workplaces, reflecting a broader societal shift towards inclusivity. Younger leaders are more likely to: Predictions for the Future Based on historical analysis and the current trends observed in the restaurant industry, we can make some predictions about the future: Conclusion The demographic shifts in restaurant management teams, with a significant proportion of younger leaders at the helm, are reshaping the industry. This transformation is driving a more diverse and inclusive restaurant landscape, fostering innovation, and better aligning businesses with changing consumer expectations. As we move forward, it's clear that the restaurant industry will continue to be a vibrant and dynamic sector led by a new generation of leaders committed to positive change.

Duration:00:10:16

Brand Growth Recipe with Big Chicken and Dog Haus Leadership

9/8/2023
First up, we'll be exploring the incredible journey of Big Chicken, a fast casual giant that's redefining the way we think about chicken. Stay tuned as we sit down with their visionary CEO, Josh Halpern, to uncover the secret recipe behind their remarkable growth and exciting future plans. Also, in the episode, we'll take you on a savory journey with Dog Haus, the pioneers of gourmet hot dogs and sausages. Join us as we chat with their innovative team about how they've met and exceeded the ever-evolving demands of the next-gen food consumers. The meteoric growth of the Big Chicken brand has been nothing short of extraordinary in the ever-evolving landscape of fast-food chains. Recently, their journey reached a significant milestone with the appointment of Josh Halpern as CEO. This strategic move has injected fresh leadership and vision into the company, propelling it to new heights. Under Halpern's guidance, Big Chicken has embarked on a mission to satisfy taste buds and cater to the next generation of consumers' ever-changing food demands. In a parallel culinary universe, the Dog Haus brand has been making its own waves. Their innovative approach to gourmet hot dogs and sausages has struck a chord with the discerning palates of modern consumers. Dog Haus has brilliantly tapped into the rising demand for elevated, customizable, and socially conscious food options. By understanding the evolving preferences of the next-gen consumer, they've expanded their menu to include plant-based alternatives and unique flavor combinations that resonate with a health-conscious and environmentally-aware audience. As the food industry continues to evolve, Big Chicken and Dog Haus are inspiring examples of how adaptability, innovation, and a commitment to delivering on next-gen food expectations can fuel remarkable growth and success.

Duration:00:18:49

Velvet Taco and Starbird Show Strategic Leadership Pays Off

9/6/2023
The fast-casual restaurant industry is booming, and two brands that are leading the charge are Velvet Taco and Starbird. Both brands have seen rapid growth in recent years, thanks to their unique offerings and savvy leadership. Velvet Taco Velvet Taco was founded in Dallas in 2011 by Randy DeWitt and his son, Travis. The concept is a fast-casual taco restaurant with a twist: the tacos are made with high-quality ingredients and feature creative flavor combinations. The menu features over 20 different tacos and a variety of other dishes, such as salads, bowls, and sides. Velvet Taco has quickly become a popular destination for millennials, thanks to its hip atmosphere and social media-friendly food. The brand has also been praised for its commitment to sustainability, using recycled materials and sustainable packaging whenever possible. Clay Dover has taken the lead as the CEO and ushered in a variety of new menua approaches as well as bringing in an expanded view on service models by adding Drive-Thru in the fresh mex segment. In 2021, Velvet Taco was acquired by Leonard Green & Partners, a private equity firm that has invested in other successful brands, such as The Container Store and Zaxby's. The acquisition is expected to help Velvet Taco accelerate its growth plans. Starbird Starbird is a fast-casual chicken restaurant founded in 2016 by Aaron Novashen. The concept is a modern take on the classic fried chicken joint, focusing on high-quality ingredients and creative flavors. The menu features fried chicken sandwiches, tenders, baskets, and various sides, such as mac and cheese and coleslaw. Starbird has also quickly become a popular destination for millennials, thanks to its affordable prices and convenient locations. The brand has also been praised for its commitment to using antibiotic-free chicken and cage-free eggs. In 2021, Starbird secured a $12 million investment that spurred recent growth to open more restaurants, as well as launching franchising. The funding round was led by private-equity firm KarpReilly. The investment also was added to the recent investment of a 4 Million cash infusion led by industry veteran Greg Dollarhyde. What Makes These Brands So Successful? There are a few things that make Velvet Taco and Starbird so successful. First, both brands offer unique and crave-able food that appeals to millennials. Second, both brands have a strong focus on sustainability and menu creativity. Third, both brands have savvy leadership that is committed to growth. The Future of Fast-Casual The fast-casual restaurant industry is expected to grow in the coming years. Brands like Velvet Taco and Starbird are leading the way by offering unique and craveable food and a commitment to sustainability and social responsibility. These brands are well-positioned to succeed in the years to come. Here are some other factors that have contributed to the success of Velvet Taco and Starbird: Overall, Velvet Taco and Starbird are two fast-casual brands on the rise. They are both well-positioned to succeed in the coming years thanks to their unique offerings, savvy leadership, and commitment to innovation.

Duration:00:15:50