Why Teriyaki Madness CEO is confident about 500-unit growth strategy

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“Claiming to double your restaurant unit count in one year may seem pretty gutsy, but Teriyaki Madness CEO Michael Haith isn’t afraid to say it aloud.

Founded in 2003, the Las Vegas-based concept now based in Denver started 2019, with about 40 units but will end it with more than 80. The growth plan doesn’t stop there, however, as the chain will hit 500 by 2026. And that’s a “minimum,” said Haith, who purchased the brand in 2016, from the founding brothers, who still own five locations.

“500 is not our goal as much as it is a conservative forecast for the next five to seven years,” he said in an interview with FastCasual. “It is the number we will be at as a benchmark towards our 10-year goal.”

Since taking over, Haith — who came to Teriyaki Madness from Maui Wowi and Doc Popcorn — and his team have implemented processes and systems to focus on growth. And that team includes several industry veterans:

  • VP of Marketing Jodi Boyce, who worked for Quiznos and Smashburger.
  • CFO John Miller, Chipotle’s former CFO.
  • VP of Operations Janice Branam, whose tenure includes Smashbuiger and Quiznos.
  • Joe Gordon, who worked for Noodles and Co., is VP of Supply Chain.
  • COO Erin Hicks, formerly of Maui Wow.
  • VP of Real Estate Peter Harding, who came from Einstein Bros.
  • VP of Real Estate Hank Janik of Schlotzsky’s. (…)”

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KFC Is Ready For Nationwide Delivery Launch

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“KFC, which plans to launch nationwide delivery later this year, contributed to strong sales growth at parent company Yum Brands Inc., which reported global same-store sales growth of 4% for the first quarter.

Yum CEO Greg Creed said KFC’s strong numbers were driven by strong results in international markets, including double-digit same-store gains in Japan and Indonesia.

“This global powerhouse saw widespread strength, coupled with standout performances in some of our larger markets,” Creed told investors during a Wednesday morning conference call.

In the U.S., Creed said KFC delivery is now available in 2,200 restaurants through Grubhub. He said most orders are coming at dinner, where larger family packs are popular. He called the KFC classic bucket an “incredible delivery device” as food shows up piping hot.”

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China’s Fastest Growing Hotpot Chain Just Minted Two Billionaires

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“China’s insatiable demand for spicy hotpot is placing the founders of a restaurant chain atop one of the world’s fastest-growing fortunes, allowing them to outpace many of the wealthiest families globally.

As of Monday, Zhang Yong, chairman of Haidilao International Holding Ltd., and his wife Shu Ping, had grown $6 billion richer in 2019, a 79 percent jump in just over three months.

That pace is the fastest in Asia and globally only topped by Australian mining baron Andrew Forrest, who has doubled his fortune this year, according to the Bloomberg Billionaire’s Index, a ranking of the world’s 500 richest people.

Haidilao went public in September, and it’s been a lucrative time for China’s largest hotpot chain, popular for the spicy broths in which diners cook their meats and vegetables. The company is pushing to make its restaurants more efficient by creating automated kitchens. Perks like the free manicures it offers waiting customers have kept families coming in. And the brand is expanding overseas with new locations planned in New York and London.

Last year, revenue surged 60 percent to 17 billion yuan ($2.6 billion), and that’s helping to push the stock up more than 75 percent this year. At about $21 billion, the company’s market value is now higher than Chipotle Mexican Grill Inc.”

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Sweetberry CEO predicts 300% growth in sales

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“Predicting a 300 percent sales increase for a 1-year-old brand is a pretty gutsy statement for any new business, but Sweetberry Bowls CEO Desi Saran is confident that he’s on to something.

The restaurant veteran and serial entrepreneur first opened the New Jersey-based brand, which serves acai, coconut and pitaya bowls, wraps, salads, smoothies, in 2017, and has since grown it to 13 locations. That was after he served as an operating partner at Playa Bowls, four years ago, helping to grow it from a beach-front smoothie stand to a national chain. He left that behind, however, to launch Sweetberry Bowls, which Saran said is on its way to becoming a global chain.”

“Q: What sets you apart from your competitors?
A
: Sweetberry Bowls is a brand new company, and we’re truly making a name for ourselves in the growing Acai bowl category, which is fairly new in the fast casual space. But, we’re not just a bowl concept or smoothie shop – we serve a full product mix of salads, sandwiches and wraps as well. As a result, our product offering isn’t just seasonal, but fully functional all year round.”

Read full interview here.

 

 

 

Coca-Cola Backs Restaurant Tech Company

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“Coca-Cola’s 2018 investment binge continues with a contribution to Hayward, Cali.-based restaurant tech company Omnivore.

The Coca-Cola Co. (NYSE: KO) was a lead investor in a $10 million Series A for Omnivore, a universal point-of-sale connectivity platform, alongside Performance Food Group and additional funds from Tampa Bay Lightning owner, Jeff Vinik.

Omnivore promotes an “end-to-end suite of solutions” to help optimize the digital restaurant experience, such as online ordering, paying at the table, third-party delivery, kiosk/digital menus and analytics. The financing will be used to accelerate current development and growth of proprietary Omnivore products that minimize friction for restaurant brands, third-party technologies, and POS companies, according to a news release.”

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Best Restaurant POS Tools: How to Choose the Right System for You

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“Understanding the needs of your restaurant is a most important first step in choosing the best POS software. After all, the needs of a small brewery with no food service differ greatly from those of a large restaurant. To assess your needs and find the best restaurant POS system for your growing establishment, here are a few things to consider.”

“You’re likely already using tools to manage your accounting, payroll, food costs and scheduling. These tools are essential for the daily operations in your restaurant. That’s why we suggest choosing a POS system that integrates with these tools that you already use. This will reduce the organizational disruption in your restaurant and ensure that your POS leverages data from the past to make more informed suggestions for the future.”

Read more here.