The Hospitality Hangout | Hospitality Podcast

In the latest episode of Hospitality Hangout, Michael Schatzberg “The Restaurant Guy'' and Jimmy Frischling “The Finance Guy'' chat with Stratis Morfogen, Book Author and Co-Founder of Brooklyn Dumpling Shop, to discuss Dons, dumplings, and disruption.

Frischling asks Morfogen about his background in the industry. Morfogen shares that although he has owned Chinese restaurants for the last 17 years he actually grew up in a typical Greek family. He talks about his family of restauranteurs running 14 different restaurants when he was a child, including the Chelsea Chop House which his father owned. The guys talk about Morfogen’s concept for Brooklyn Chop House and his commitment to creating a menu that he says, “married Beijing Chinese food to an American steakhouse and I made both cultures true to each other.” He talks about innovating the restaurant's appetizer selection by reinventing and reimagining two subcategories: dumplings and sandwiches. He says, “Everything that was once a sandwich I converted it into a dumpling.” He adds, “When we opened in 2018, we doubled our projections, the restaurant just went gangbusters and everyone was ordering a bunch of dumplings.”

The guys talk about Morfogen’s new book and his unique pastime as a child. Morfogen shares that as early as age 6, he was hanging out with mobsters at the Fulton Fish Market. He talks about even declining trips to Disney with his siblings so that he could spend time with his dad a the infamous fish market which happened to be run by Alphonse "Allie Shades" Malangone of the Genovese crime family, or “uncle” as a young Morfogen would come to know him by. Morfogen talks about seeing the hustle and bustle of the scene and learning a lot there that he says, “they’re just not gonna teach you in school.” He adds, “My father didn't hide it from me, you know, and I believe that was one of the greatest things he did for me because he really grew me up quickly and basically showed me the real world at a very early age.” Morfogen's experience includes running nightclubs, and 40 restaurants on his own, and becoming a published author. When asked about his new book, he says, “I got to tell you for the last twenty years people would say, “you got to write a book, you got to write a book” and this is what I did with Simon and Schuster, I wrote ‘Be a Disruptor.’”

Morfogen talks about the recent MURTEC conference where he was a guest speaker. He tells the guys that one of the members of the audience addressed him with profanity and accused him of stealing jobs. Instead of shying away from the subject, Morfogen decided to use the platform to provide education and insights. He shares that the person was referring to automation. Morfogen explains that he didn’t create automat for safety, it was created for economics and efficiencies because the number one reason a majority of restaurants go out of business is due to excessive payroll costs. 

He says, “If 7 out of 10 restaurants are failing because of 30 to 40% payroll and we have a method and it's proven now, it's not just hype, that you could bring this down to 14 to 18%, you got a chance of not just surviving but thriving.”

To hear more from Morfogen about his new book, his thoughts on the rise of technology, and news on franchising the Brooklyn Dumpling Shop, check out this episode of The Hospitality Hangout on iTunes!

This syndicated content is brought to you by Branded Strategic Hospitality.

Episode Credits:

• Produced by: Branded Hospitality Media
• Hosted by: Michael Schatzberg, Jimmy Frischling
• Producer: Julie Zucker
• Creative Director: Adam Levine
• Show Runner: Drewe Raimi
• Post Production: Three Cheers Media

www.thehospitalityhangout.com

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the latest episode of Hospitality Hangout, Michael Schatzberg “The Restaurant Guy'' and Jimmy Frischling “The Finance Guy'' chat with Buck Jordan, Founder and CEO of Wavemaker Labs, to discuss his early fascination with automation, scaling brands through robotics, and why he thinks franchising is dead.

Frischling asks Jordan to share a little about his background and Wavemaker Labs. Jordan talks about first being exposed to automation 20 years ago, when he was an armor officer going through tank training in Fort Knox, Kentucky. He vividly recalls seeing four, unmanned, armored, personnel carriers whizzing by at 40 miles per hour and how that moment planted a seed that would blossom into a career in automation, which ultimately led him to found Wavemaker Labs. He shares that the company’s mission is to automate the supply chain of food, from seed to fork, with the outcome being higher quality food, with less cost to the masses. He explains that they take the highest consumption food categories in the United States and automate them. He says, “We believe that our business will end up kind of along two tracks, one, supplying the existing brands with automation solutions and helping them, you know, kind of modernize and reinvent themselves. And then two, we are also building a suite of digitally native brands that we'll be operating.”

The guys talk about ways Wavemaker Labs is solving some of the biggest problems in the restaurant industry. Jordan tells the guys that he has always liked the idea of robots doing jobs that are too dangerous for humans to do or simply tasks that they don't want to do. As an example, many operators, clients, and friends complain about dishwashing. Jordan talks about not only automated dishwashing but also, fryers as well as other robotic kitchen assistants. Jordan shares that while he is excited to build his brand, it’s also about, he says, “Really enabling existing brands to scale faster and better.”

When Jordan is asked to elaborate on a quote that he made about franchising being dead, he talks about the logistics and challenges around the franchise model. Jordan says, “Well, let me just walk you through the logic, right? So in the ’60s and ’70s, every QSR went 99% franchising as fast as they possibly could. Why’d they do that? Because it costs anywhere from half a million to three million to build a restaurant. And then you gotta manage dozens and dozens of people on and off a shift, and so just offload that expense and that management headache to the franchisees. That’s what the brands did.” He adds, “But the future, if the future really is 100% fully automated and if the future successful brands are going be digitally native brands, meaning that their menus have been designed to be a hundred percent automated, then do you really need franchising again?” He talks about how vending machines will be able to make and deliver Michelin-level, incredible food. Jordan asks, “Do you really need to have a franchisee do that? Especially when you're a big brand and you can finance the cost of that machine.” 

To hear Jordan share more about, automation, robotics, and his thoughts on the democratization of venture investing, tune into this episode of Hospitality Hangout on Spotify.

This syndicated content is brought to you by Branded Strategic Hospitality.

Episode Credits:

• Produced by: Branded Hospitality Media
• Hosted by: Michael Schatzberg, Jimmy Frischling
• Producer: Julie Zucker
• Creative Director: Adam Levine
• Show Runner: Drewe Raimi
• Post Production: Three Cheers Media

www.thehospitalityhangout.com

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the latest episode of Hospitality Hangout, Michael Schatzberg “The Restaurant Guy'' and Jimmy Frischling “The Finance Guy'' chat with John Davie, CEO and Owner of The Buyers Edge Platform, to discuss his mission to help local restaurants, the importance of clean data, and how he is leveraging tech to help the environment. 

Frischling asks Davie about his background. Davie shares that he has spent his entire career helping small, independent, local, mom-and-pop restaurants, get some of the same advantages as the larger chains. He talks about recognizing a need in the industry because smaller restaurants simply could not compete when it came to real estate, technology, software, and buying power. Davie, along with some insights from his father, decided to “even the playing field”, by developing a company, 25 years ago, that would give those businesses the same leverages and collective buying power as the big brands. Their concept evolved into Buyers Edge Platform, which is a digital procurement network, that leverages over $2 billion in collective food spend.

The guys talk about the company’s culture and how it helped them not only navigate the pandemic but rise to a new level together as a team. Davie talks about working with his own family at Buyers Edge Platform. His father, siblings, inlaws, and cousins, make up part of the team, but the family-oriented feel extends throughout the entire company and is a key to their culture. He shares that during the pandemic, both he and his father suspended their salaries and several employees voluntarily took temporary pay cuts to protect each other and the company as a whole. Davie shares that they were able to keep nearly the entire 700-person staff employed throughout that pandemic and collectively they spent that time building tools and software to make everything they did easier from a remote scenario. Davie shares how those efforts paid off. He says, “We added over 30,000 new restaurant locations in 2020.” He adds, “Then in 2021, last year, we came roaring back and we were 50% up over pre-Covid, but it was all due to our team really seizing the moment and sacrificing, voluntarily and then over-performing tremendously, to where now the company is just more than double up, versus pre-Covid.”

When asked about the company’s efforts regarding building incentives for restaurants to use, and switch to more sustainable solutions, Davie shares that it all goes back to data and analytics. He says, “The core thing that I learned early on with trying to bring restaurants together, is that you got to have clean, normalized data to be able to do any of the cool stuff with software and really help operators, manufacturers, and distributors.” He shares that as the company has grown they have been committed to giving back and doing great things for the environment. He shares that from an ESG perspective, they are able to leverage their massive amount of data to find products that are better for the environment. He acknowledges that while eco-friendly packaging tends to be more costly, Buyers Edge Platform offers rebates and assistance to help operators make the transition away from products like styrofoam. The goal is to find eco-products that hold the food temperature better and perform better for the operator. He says, “They will hopefully see the value in going into a little more expensive packaging, that ultimately gives them a better experience for their guests, especially in the takeout and delivery space.”

To hear more from Davie about clean data, his predictions on BOH rapid technology adoption, and breaking news on the company's new partnership, check out this episode of The Hospitality Hangout on iTunes!

This syndicated content is brought to you by Branded Strategic Hospitality.

Episode Credits:

• Produced by: Branded Hospitality Media
• Hosted by: Michael Schatzberg, Jimmy Frischling
• Producer: Julie Zucker
• Creative Director: Adam Levine
• Show Runner: Drewe Raimi
• Post Production: Three Cheers Media

www.thehospitalityhangout.com

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the latest episode of Hospitality Hangout, Michael Schatzberg “The Restaurant Guy'' and Jimmy Frischling “The Finance Guy'' chat with Tom Gordon, President and CEO of Slim Chickens Restaurants, to discuss, launching a fast-casual chicken concept, robotics, and why technology is key to survival.

Gordon talks about the early days of his career. He shares that after college, armed with a finance and real estate degree, he was on the stockbroker track, but he quickly learned that he loathed the path. He decided to leave the world of Wallstreet for the restaurant industry, where he started waiting on tables and bartending. Gordon tells the guys that in 2001, he and his business partner, Greg Smart, began conceptualizing Slim Chickens, a fast-casual chicken tender restaurant. He shares memories of developing recipes in Smart’s garage, along with their friends, who provided feedback on everything from breading, sauces, and sides. Gordon says, “You know we really are still tracking with the majority of stuff we put together back then in the garage. From the garage, we found our first spot, and the rest is, you know, 19 years of history.” Gordon shares some growth metrics around Slim Chickens, which officially launched in 2003. He says the brand currently has 170 units, including 23 International locations, and has plans to scale to 600 units by 2026.

Frischling asks Gordon about the company’s early adoption of technology and why it is a key to survival. Gordon talks about recognizing the importance of technology early on and embracing it. He says, “We were early adopters of better POS systems, digital menu boards, and being able to change products and LTOs on a quick pace and a quick run.” He adds, “I think the most consequential investment we made, and the thing we did was, we invested in a really robust app and loyalty system about a year before Covid showed up.” He talks about technology being table stakes for the future and shares how tech helped the brand sell, maintain comps, and communicate with their guests through Covid. He admits that without the technology being implemented early on, Slim Chickens would have been in a much different position today. He adds “That embracing of technology, app-based ordering, online ordering, curbside delivery through the app and then all the ancillary parts and pieces, I mean made the year 2020 for us, and made sure 2021 stayed on track and here we are in 2022.”

Schatzberg talks about tech and innovation and asks Gordon to share more about the reactions employees are having to the food-running robots popping up in some of the Slim Chickens locations. Gordon shares that some franchises are testing the food-running robots and that they have been very open to embracing this type of technology. He says that while it’s been fun for everyone to see the new robots, there were concerns from some team members who worried about the robots making mistakes, such as delivering food to the wrong table. However, once they saw the robot in action, working successfully over and over again, they realized the usefulness of such technology. Gordon is quick to point out that while robots are helpful, they aren’t currently a complete replacement for people. He says, “Hospitality is hospitality. You got to take care of the guests, you got to seat people, and look them in the eyes and make sure they're happy. But I think this is an adaptable technology with the right footprint in a restaurant.” He adds, “It's a useful piece of the puzzle.”

To hear Gordon’s thoughts on automation, robotics, and more from his chat with Schatzberg and Frischling, check out this episode of The Hospitality Hangout on iTunes!

This syndicated content is brought to you by Branded Strategic Hospitality.

Episode Credits:

• Produced by: Branded Hospitality Media
• Hosted by: Michael Schatzberg, Jimmy Frischling
• Producer: Julie Zucker
• Creative Director: Adam Levine
• Show Runner: Drewe Raimi
• Post Production: Three Cheers Media

www.thehospitalityhangout.com

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the latest episode of Hospitality Hangout, Michael Schatzberg “The Restaurant Guy'' and Jimmy Frischling “The Finance Guy'' chat with Gary Goodman, CEO and Founder of Yumpingo, to discuss his early fascination with the industry, the necessity for customer feedback and the importance of creating a healthy company culture.

Goodman and the guys chat about Goodman’s background. Goodman shares that he was born in Manchester, England, where he would go to restaurants with his family as a child. He talks about how, even as a toddler, he had an absolute fascination with the industry and he recalls fond memories of seeing food on tables, looking into the kitchen and watching the food being cooked. He mentions that although he is qualified as a lawyer, he knew that wasn’t the right path for him. He decided to go into marketing and then onto a career of building digital platforms, where he has spent the past 20 years connecting people with processes and data.

When Schatzberg asks Goodman about his customer experience management platform, Yumpingo, Goodman says, “We deliver real-time guest insights at unique scale for restaurants across all service styles, and we're transforming how they're making key decisions in the business.” He shares that when it comes to the market, the Yumpingo app answers three questions better than anyone else. He explains how they do that as he breaks down the company’s name. He says, “The ‘Yum’ is related to how happy your guests are eating food, so we basically track happiness at a greater scale than anyone else. The ‘Pin’ is to do with what's driving that happiness, so effectively the kind of why behind happiness, and the ‘Go’, critically, and for as uniquely is, what you do about it.” He adds, “Our view is that feedback is really just opinions if you're not sure what to do about it.”

Frischling talks about the incredible expansion of Yumpingo and congratulates Goodman on the company’s growth, which now extends into twenty-two countries. The guys talk about the current labor market woes, the key to happy employees and why a healthy company culture is critical. Goodman talks about experiencing an incredible company culture when he worked abroad as an 18 year old, and why he has a mission to create a similar environment at his company. He says, “When you work in a restaurant environment, that is a family that you've just built out around you, right? To put that into a technology company is not easy, but for me and the team, it's all about a common purpose.” He adds, “We have a broad church of people that have come from either hospitality or just have a passion for the cause of helping people, the servers, connect better with the people that are eating their food.”

To hear more from Goodman on customer experience, the importance of feedback, and how Covid forced change in the space, check out this episode of The Hospitality Hangout on iTunes!

This syndicated content is brought to you by Branded Strategic Hospitality.

Episode Credits:

• Produced by: Branded Hospitality Media
• Hosted by: Michael Schatzberg, Jimmy Frischling
• Producer: Julie Zucker
• Creative Director: Adam Levine
• Show Runner: Drewe Raimi
• Post Production: Three Cheers Media

www.thehospitalityhangout.com

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the latest episode of Hospitality Hangout, Michael Schatzberg “The Restaurant Guy'' and Jimmy Frischling “The Finance Guy'' chat with Meredith Sandland and Carl Orsbourn, Authors of Delivering the Digital Restaurant: Your Roadmap to the Future of Food, to discuss their new book, ghost kitchens and how to win at off-premise.

Sandland talks about her background in the industry. She shares that she has spent over 10 years in the space, initially at Taco Bell, where she worked on brand turnaround, and then in real estate development. As she continued to scale the brand and opened locations in more expensive markets that had deliveries accounting for 40% of sales, she thought to herself, “It would be so awesome if there was just a commissary that we could deliver tacos out of.” Her forward thinking became a reality a few years later with the launch of ghost kitchens. Sandland connected with and joined the team at Kitchen United. She says, “They were making the thing, that I, as the customer, the Chief Development Officer of a big national chain, wished existed, and so I went and joined them.” She teases that this part of her story intersects with that of her co-author, Carl Orsbourn. 

Orsbourn, who held a senior level position at a major convenience retail leader, where he was accountable for $1.3 billion in sales of all in-store products, shares that during his experience in that role, he started to see a change in dynamics of food, and the way in which customers were becoming increasingly more demanding about convenience and better foods. He talks about his interest in getting involved in the start-up environment, which led to a mutual friend introducing him to Meredith Sandland. He shares that although he was new to the ghost kitchen concept when Sandland first mentioned it, but once he realized the opportunity in building out a customer success model and being able to scale it, he knew it was the right next step for his career.

Schatzberg asks Sandland and Orsbourn to talk about what led to them writing their book, Delivering the Digital Restaurant: Your Roadmap to the Future of Food. Orsbourn shares that between the two of them, they had been working and communicating with “pretty much every major restaurant chain in America”, and as they spoke to many independents, those conversations all had a similar thread, restaurants were having an immense challenge in trying to figure out how to win when it came to off-premise. Operators wanted to know, “How do we succeed in a ghost kitchen? What are some of the ways in which we need to be better, or what we do to succeed?” Sandland shares that they decided to buy a book to help navigate operators through those uncertainties, but after doing some research, no such book existed, so they decided to write one. Sandland recalls saying, “Let’s write that book. Let's help the industry. Let's try and take all the various different players that are doing some really exciting things in this space, and tell their story.” They discuss the process of interviewing numerous players in the space, such as technology and restaurant leaders, to gain the insights and strategies to winning the off-premise game. They acknowledge that although some operators have shared their fears about this being “a very scary time to be in the restaurant industry.” Orsbourn says, “It's also one of the most optimistic and exciting times as well, and the future is bright and hopefully anyone that reads Delivering the Digital Restaurant will get that feeling.”

Frischling says, “I think your book is not just for the industry, but it's also I think, for the consumer and our guests to understand what is going on in this transformation and how all these different generations are interacting with the food service and hospitality industry.” 

Sandland adds, “It has been really well received. We're very pleased about that.”

To hear more from Sandland and Orsbourn about their book, their thoughts on the rise of curbside and what’s next with ghost kitchens versus virtual kitchens, check out their full chat with Schatzberg and Frischling, in this episode of Hospitality Hangout on Spotify.

Episode Credits:

• Produced by: Branded Hospitality Media
• Hosted by: Michael Schatzberg, Jimmy Frischling
• Producer: Julie Zucker
• Creative Director: Adam Levine
• Show Runner: Drewe Raimi
• Post Production: Three Cheers Media

www.thehospitalityhangout.com

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the latest episode of Hospitality Hangout, Michael Schatzberg “The Restaurant Guy'' and Jimmy Frischling “The Finance Guy'' chat with David Bloom, Chief Development and Operating Officer at Capriotti’s and Wing Zone, to discuss his passion for the industry, strategies for scaling brands and the adoption of technology.

Bloom and the guys chat about Bloom’s background in the industry. He talks about his humble beginnings growing up in New York and how restaurant life is a family affair. Bloom shares that he worked in the back of the house growing up, and that he has a brother who is an Executive Chef and a sister who is a Pastry Chef. Bloom reflects on realizing the tremendous opportunity he saw within the restaurant field, not only for himself, but for anyone wanting a chance to achieve their goals in the industry. He says encouragingly, “First and foremost is, one of the things I love about the restaurant industry is, you know, just talent and hard work go a really long way; if you stick with it, learn from the best and go wherever the opportunity is.”

Schatzberg asks Bloom about his extensive experience working with and scaling major brands, and why he decided to join Capriotti’s. Bloom talks about the significance of working with people he admires, which drew him to Capriotti’s, and how much he enjoys working with an incredible team while creating success together. Bloom talks about his passion for scaling brands and shares some insights into the growth of Capriotti’s, and the acquired brand, Wing Zone. Both brands are experiencing considerable growth domestically and internationally, and when considering current development, Wing Zone will be reaching 170 units while Capriotti’s will be hitting an impressive 500.

Frischling talks about Bloom’s company being one of the most tech-forward operators in the space. Frischling says, “You have this incredible, and I'd say enviable philosophy to try out major tech, so by the time it becomes mainstream you're already ahead of the curve.” He asks Bloom to share more about the brand’s adoption of technology. Bloom shares that it comes from their investors and board members in terms of a mandate for the brand and what they feel is a differentiator for them, because they own and operate their own stores as well. He adds that having a platform in which they are able to try technology, “on our own dime and figure it out and take the risks”, is not a luxury everyone has, but it’s a critical investment that sets his company apart. He says, “I've had the opportunity to work with some, what I would call technology-enabled companies, and they grew at a rate that others just couldn't, both here and abroad, so we feel like it's sort of table stakes anymore.”

To hear more from Bloom on the adoption of technology, including his thoughts on drone deliveries, and the relationship dynamic between employees and robotics, check out this episode of The Hospitality Hangout on iTunes!

This syndicated content is brought to you by Branded Strategic Hospitality.

Episode Credits:

• Produced by: Branded Hospitality Media
• Hosted by: Michael Schatzberg, Jimmy Frischling
• Producer: Julie Zucker
• Creative Director: Adam Levine
• Show Runner: Drewe Raimi
• Post Production: Three Cheers Media

www.thehospitalityhangout.com

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the latest episode of Hospitality Hangout podcast, Michael Schatzberg “The Restaurant Guy” and Jimmy Frischling “ The Finance Guy” chat with Daniel Meth, chief executive officer at Ingest and take a deep dive into restaurant data. 

Meth talks about his education saying, “I wanted to be a doctor and so I went to college a little bit later in life double majored in molecular biology biochemistry and cell biology neuroscience. Not because I was so smart but I found out that if you double major in science. It's typically a conversation stopper.” Meth shares that he started tutoring and eventually growing an academic services business. 

Frischling asks Meth if he could share how he has seen the shift in operators who now understand the numbers are the data. Meth says, “Getting people to understand that data isn't this you know, what's historically been this esoteric concept right? It's all of these things that they've already been paying attention to, just better contextualized so it can paint a more complete picture of what's going on in their business.” Adding, “We need to put this incredibly complex information into a more relevant, easily digestible format and language for the operators so they can better understand it. Meth says what they are trying to do is improve the viability, sustainability and profitability of the business.  

Ingest helps operators look at the data from all areas including point of sale system, reservation management system, cogs data coming out of purchasing tools, guest sentiment, marketing and loyalty. Meth says that Ingest asks three questions, what happened, why did it happen, and what would happen if. He says, Ingest fully contextualizes the entire data story. 

Meth talks about what’s next for Ingest, he says they are focused on growing the team on all fronts, they are actively growing Ingest’s footprint in fast-casual and QSR space, and working towards telling better stories with data. 

To hear how Covid has accelerated the Ingest road map, and how Ingest can use the data to forecast for operators check out this episode of Hospitality Hangout.

This syndicated content is brought to you by Branded Strategic Hospitality.

Episode Credits:

• Produced by: Branded Hospitality Media
• Hosted by: Michael Schatzberg, Jimmy Frischling
• Producer: Julie Zucker
• Creative Director: Adam Levine
• Show Runner: Drewe Raimi
• Post Production: Three Cheers Media

www.thehospitalityhangout.com

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the latest episode of Hospitality Hangout, Michael Schatzberg “The Restaurant Guy” and Jimmy Frischling “ The Finance Guy” were on the road and live at the National Restaurant Association Show in Chicago, where they chat with Dan Rowe, CEO of Fransmart, about the show, the benefits of multi-unit franchises, and the importance of landscape when considering new brands.

Fransmart CEO, Dan Rowe and the guys chat about how Rowe got started in the industry. He talks about deciding as a teenager that he wasn’t going to go the traditional route and attend college to find his career path. He says that he wanted to figure out how to become successful, and while at a motivational seminar, he was faced with the question, “What do you want to do with your life?” His answer was, “I want to get wealthy helping people get wealthy.” He shares that his goal for attaining riches was not to be at the expense of others, and that’s something that drew him to the franchise space. He says, “What I like about franchising is that basically the model is that, you know the franchisors only make money if the franchisees are making money, franchisees are only making money if they've got a good team and their people are making money.” He adds, “Honestly, I find a lot of joy in this space. It’s the kind of job that even if I wasn't getting paid, this is exactly what I'd be doing.”

Rowe, who was also a successful multi-unit franchisee, shares his insights on why it’s better to invest in multi-unit franchises rather than just buying a single unit. He talks about the Fransmart formula for success, that includes finding the right emerging franchise opportunities, which are less expensive to build and are more likely to be able to leverage conversions. He says, “It's the ultimate wealth builder to me, when you get into a brand when they're young, they're just less expensive to build, you get your money back fast and then you roll that into another store, and at some point those self-fund multiple locations, making millions of dollars.” He adds, “You've got an asset now that you can sell for a life changing amount of money. Frischling provides some data, sharing that Fransmart has sold over 5,000 franchises worldwide.

Schatzberg talks about the company’s current restaurant portfolio which includes, The Halal Guys, Brooklyn Dumpling Shop and Savannah Seafood Shack. He asks Rowe what Fransmart looks for when considering an emerging brand. Rowe shares that it involves a lot of unit economics, because high volume indicates that customers like the restaurant. He says, “High volume tells you customers like the concept, you know customers vote with their wallets. So if they've got really, really good sales, that's a good indication.”

Rowe talks about the importance of landscape and the tremendous success of The Halal Guys, largely due to the huge opportunity he saw there. He shares that while opening more that 50 American brands in the Middle East, he found himself falling in love with the local Mediterranean street food, and he realized that no big brand in America was offering this concept. He says, “It dawned on me. You've got a billion and a half Muslims, Middle Eastern food, Mediterranean food is amazing and I just saw there's a huge opportunity if somebody gets this right, you're going to have a monster on your hand, and that's exactly what we did.” He adds that the chain is already at 100 units and on its way to 500.

To hear more from Rowe’s chat with Schatzberg and Frischling at the National Restaurant Association Show in Chicago, check out this episode Hospitality Hangout.

This syndicated content is brought to you by Branded Strategic Hospitality.

Episode Credits:

• Produced by: Branded Hospitality Media
• Hosted by: Michael Schatzberg, Jimmy Frischling
• Producer: Julie Zucker
• Creative Director: Adam Levine
• Show Runner: Drewe Raimi
• Post Production: Three Cheers Media

www.thehospitalityhangout.com

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the latest episode of Hospitality Hangout, Michael Schatzberg “The Restaurant Guy'' and Jimmy Frischling “The Finance Guy'' chat with Bryan Solar, Restaurants GM at Square, to discuss his unique journey into the industry, the rebranding of Square, and the importance of POS innovations.

When asked about his start in the industry, Solar talks about his background and coming from a family of restaurateurs. He tells the guys about his journey to working at a strategy consulting firm that helped really big companies turn around in the recession. He shares that during that time frame, he learned that his aunt’s restaurant was struggling. He says, “One day my aunt called me and she said “hey you know the family restaurant is struggling,” and I thought to myself, if we can do this for really big companies, why can't we do it for restaurants?” Solar decided to start a nonprofit to help restaurants turn their businesses around. He adds, “Working with those restaurant owners, I mean it felt like working with family.”  

Solar shares that he decided to attend business school and started a new business with the goal of helping restaurants. Google soon took notice and partnered with Solar, which led to the development of Reserve with Google. Other companies were also starting to take notice of Solar’s work as well. He talks about receiving a call from Square, a company that he deeply admired, and being offered a job with them. He says, “They said, “hey do you want this job” and I was like, you know I would absolutely love that job because in my mind you know the point of sale is the future.” He adds, “For me, this is the dream job, I get to help all the folks that you know, look like my aunts, uncles and cousins.”

Frischling asks Solar why Square recently decided to change their name to Block. Solar shares that the name change was derived from several different components. He shares that the name Square became synonymous with walking into a store and interacting with a payment system. The change to Block acknowledges the company’s growth, considering new things like bitcoin, and the company adding Cash App and TIDAL, the name change creates room for further growth. Solar adds, “Having the name Block kind of captures the 3-dimensional aspect of like what Square is trying to do.”

The guys chat about the relevance of POS. Solar, who recently spoke on a panel to discuss POS being its own ecosystem, talks about the importance of building really important technologies and the need to constantly make updates on a weekly or sometimes even daily basis. He says, “I actually think the kitchen is the heart of the restaurant. I mean everything flows in and out of the kitchen, that's how the business runs. The POS is the brain. It is the thing that directs everything, makes it better, faster.”

To hear Solar’s thoughts on labor costs, the future of technology, and more from his chat with Schatzberg and Frischling, check out this episode of The Hospitality Hangout on iTunes!

This syndicated content is brought to you by Branded Strategic Hospitality.

Episode Credits:

• Produced by: Branded Hospitality Media
• Hosted by: Michael Schatzberg, Jimmy Frischling
• Producer: Julie Zucker
• Creative Director: Adam Levine
• Show Runner: Drewe Raimi
• Post Production: Three Cheers Media

www.thehospitalityhangout.com

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.