Improving Profitability

 By Jim Sullivan   There’s an old joke that’s sad, but true, about our industry: Q: How do you make a small fortune in the restaurant business? A: Start with a large one. Noted economist John Maynard Keynes said, “The engine that drives enterprise is not thrift, but profit.”  True. But the other truth is that the hospitality industry is the only business I can think of where there are more ways to lose money than make money.

by Jim Sullivan
The current economy has shaken the confidence of many once-proud and cocksure operators to their core, bringing to mind the words of Paul Rubin who said: “Never confuse brilliance with a bull market.” And while remembering the “good old days” days of a few years back may bring the comfort of memory, today’s reality requires better discipline and teamwork. We’ve got to re-think pricing and better leverage the knowledge and resources of our vendor and distributor partners. Here are three effective strategies to consider:

Why the Best Operators Provide No Customer Service

By Jim Sullivan

“Everybody wants to build, but nobody wants to do maintenance.” –Kurt Vonnegut

I will begin today’s sermon by presuming that unless your net worth has more zeros in it than a Star Trek Convention, profitability is still important to you. If it is, then pull up a chair and let’s talk about the Importance of the Mundane.

By Jim Sullivan
Before you can get “back to the basics” of selling, it’s helpful and wise to have a clear understanding of what those basics are. This article details the 7 foundations to consider as you plan your next menu merchandising campaign.
Having a great product or a restaurant full of customers doesn’t mean you’re making money. As restaurateur “Diamond” Jim Brady is alleged to have said in 1901: “You can have the best product in the world but if you can’t sell it, you’ve still got it!”