Choppin’ It Up by Bloomberg Intelligence

First Watch’s one shift, one menu model has given First Watch a hiring and employment advantage, Matt Eisenacher, First Watch’s Senior VP of Brand Strategy and Innovation, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Eisenacher sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss the chain’s strong turnover metrics, unit economics and expansion opportunity. He also comments on the company’s acquisition of franchised restaurants, tech initiatives and alcohol program.

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No company is immune from an “oh-no!” moment, Deborah Nitka, senior manager of cybersecurity and privacy at Cohn Reznick, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Nitka sits down with BI’s Senior Restaurant and Foodservice Analyst Michael Halen to discuss how data security concerns affect consumer behavior and could slow the shift to one-to-one marketing. She also comments on vulnerability points, third-party risk and cybersecurity insurance.

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If Portillo’s can prove that its iconic and unique menu is accepted outside of its home market of Illinois it may deserve the fattest multiple in the restaurant industry, Michael Osanloo, Portillo’s CEO, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Osanloo sits down with BI’s Senior Restaurant and Foodservice Analyst Michael Halen to discuss the chain’s impressive unit economics and expansion into Arizona, Florida and Texas. He also comments on beef inflation, leveraging G&A expense and what’s fueling the chain’s strong operational performance. 

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Restaurant success is all about the employees, Fred LeFranc, Results Thru Strategy founder, managing partner and chaos strategist says. In this episode of the Choppin’ It Up podcast, LeFranc sits down with Bloomberg Intelligence Senior Restaurant and Foodservice Analyst Michael Halen to discuss his approach to empowering employees to turn around struggling, mature brands and help emerging ones supercharge their growth. He also comments on the importance of culture, using the right technology and having a stakeholder mentality that supports workers, vendors, customers and communities. 

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The market for restaurant mergers and acquisitions is rough seas right now, Mike Gottlieb Managing Director of National Hospitality Advisory at CohnReznick explains to Bloomberg Intelligence. In this podcast episode of Choppin’ It Up, Gottlieb sits down with BI Senior Restaurant and Foodservice Analyst Michael Halen to discuss the headwinds for private equity investors, opportunities for strategic acquirers and what chains can do to prepare themselves for a transaction once the market loosens up. He also comments on the outlook for restaurant IPOs and how he’s helping his clients prepare for a potential recession. 

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Walk-Ons Sports Bistreaux has avoided staffing issues due to a strong culture that emphasizes team over the individual, CEO Scott Taylor explains to Bloomberg Intelligence. In this podcast episode of Choppin’ It Up, Taylor sits down with BI Senior Restaurant and Foodservice Analyst Michael Halen to talk about the company’s underdog mentality, unique menu, technology upgrades and strong growth plans. The chain of sports bars differentiates itself with scratch cooking and Cajun menu items that help fuel impressive sales volume.

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The collapse of Silicon Valley Bank could make venture debt more expensive and harder to get for restaurant tech startups, Jimmy Frischling and Michael Shatzberg, Managing Partners and Co-Founders of Branded Hospitality Ventures, explain to Bloomberg Intelligence. In this podcast episode of Choppin’ It Up, Frischling and Shatzberg sit down with BI Senior Restaurant and Foodservice Analyst Michael Halen to talk about some cutting-edge restaurant tech startups that aim to eliminate pain points and reduce costs for restaurant owner/operators and their franchisees. They also comment on technology company valuations as well as QR codes, ESG, AI and robotics and automation.

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Food consistency, superior service and employee training are critical to success in the restaurant market, Marvin Alballi, Chief Operating Officer of Franchise Global Brands and author of “Restaurant Excellence: The Ultimate Guide to Success in the Food and Beverage Industry,” explains to Bloomberg Intelligence. In this podcast episode of Choppin’ It Up, Alballi sits down with BI Senior Restaurant and Foodservice Analyst Michael Halen to talk about running great restaurants. He also comments on Burger King’s US turnaround and what keeps his consulting clients up at night.

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Noah Glass, Founder and CEO at Olo, joins Michael Halen, Senior Restaurant and Foodservice Analyst at Bloomberg Intelligence, to discuss the company’s culture, product suite and growth strategy. Olo’s online ordering and delivery solutions have been invaluable to its restaurant clients and the company continues to innovate to achieve its goal of digitizing every transaction, including in-restaurant and drive-thru occasions. This is a massive opportunity; only 6% of US restaurant transactions are digital. Glass believes the company can grow sales 100-fold; its 84,000 restaurant locations can expand 4x and average revenue per unit could jump 25x as payment, data analytics, guest sentiment and marketing solutions gain further traction with existing clients. 

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Joe Kefauver, Founding Partner of Align Public Strategies, joins Michael Halen, Senior Restaurant and Foodservice Analyst at Bloomberg Intelligence, to discuss the US political climate following the mid-term elections. Kefauver explains what a split Congress means for the restaurant industry, gives an update on the FAST Act in California, discusses the progress made by labor unions and outlines what the industry should be lobbying for in 2023.

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