Chip Klose's Guide to Keeping Your Margins High

Chip Klose's Winning Formula for Restaurant Success ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ March 21, 2024 Chip Klose's Winning Formula for Restaurant Success Are you ready to turn up the heat on your restaurant's potential? In this week's simmering episode, we slice into the meat of industry challenges and carve out golden nuggets of wisdom with our exceptional guest Chip Klose. Trust us, it’s a conversation as rich as your favorite dessert! [Facebook]( [Instagram]( [Youtube]( [Linkedin]( Welcome to the 'WISKING IT ALL' Podcast – the series where we engage with hospitality professionals and trailblazers who've wagered it all in their pursuits. Join us in exploring their journeys, understanding their motivations, and uncovering the secrets behind their success. Every week, we'll deliver two impactful ideas and one essential insight from our podcast episode, offering perspectives that could fundamentally transform your hospitality business. If you find value in our show, please consider subscribing and leaving a rating on [Spotify](. Your support is vital in helping us grow. Feel free to follow my personal journey for more actionable tips and stories. Sign up [here](. Your Host, Angelo Esposito THIS WEEK’S EPISODE Meet Chip Klose. Chip Klose stands out as a pivotal figure for independent restaurant owners aiming for success. Through his strategic coaching, the enlightening "Restaurant Strategy Podcast," and his impactful book, "The Restaurant Marketing Mindset," Chip provides a holistic approach to business improvement. His sessions and workshops, known for their depth and practicality, position him as a thought leader in the hospitality industry, guiding many to operational efficiency and profitability. In this week's episode, we've got the one and only Chip Klose stirring things up with some incredible insider knowledge. Get ready to take a deep dive into the essence of what it really takes to run a top-notch restaurant. He's here to serve us his seasoned insights on revenue forecasting, cost management, and the vital ingredient for any restaurant's growth—a laser focus on customer needs. Join us as we discuss: - Profitable Foundations: Before you even think about scaling up, you need to nail down your business model. - Controlling the Controllables: Learn the secret sauce to keeping your prime costs (COGS plus labor) between 55-60% for a menu of profits you’ll want seconds of. - Marketing Mastery: This isn't your average restaurant spiel. We're slicing into three meaty marketing strategies – customer acquisition, retention, and evangelism – that can turn first-timers into regulars and regulars into die-hard fans. - Tech's Tastiest Trends: How can technology revamp the dining experience? Discover how the integration of tech can not only streamline operations but also spice up customer service. - Success Stories to Savor: Real-life case studies of restaurants that have seasoned their strategies with coaching and seen juicy results – who doesn't love a tasty turnaround tale? [Watch the full episode on Youtube]( 2 IDEAS FROM THE PODCAST Idea #1 The Three Pillars of Restaurant Marketing - Customer Acquisition: Develop targeted marketing campaigns to attract new customers. This could involve social media advertising, local partnerships, and hosting community events to increase visibility. - Customer Retention: Implement loyalty programs and personalized communication to encourage repeat visits. Use data analytics to understand customer preferences and tailor offerings accordingly. - Evangelism: Encourage word-of-mouth promotion by providing exceptional customer experiences that guests want to share with others. Implement a referral program that rewards customers for bringing new guests. [Listen to the full episode]( Idea #2 Rethinking the Role of Waitstaff with Technology - Implement Order and Pay at the Table Technology: Use digital menus and payment solutions to streamline the ordering process, allowing staff to focus on guest experience rather than taking orders and processing payments. - Train Staff as Floor Ambassadors: Transform waitstaff into hosts who guide guests through the menu, provide recommendations, and ensure overall satisfaction, rather than just taking orders. - Leverage Data for Personalized Service: Use customer data gathered from digital interactions to personalize the dining experience, making recommendations based on previous orders or dietary preferences. [Listen on Spotify]( [Listen on Apple Podcast]( 1 KEY LEARNING ❝ The ones that succeed succeed because they're solving a problem for the customer. And what's ironic is that we're in the service industry. We are here to serve people. Somewhere along the way, over the last, I'll say, 20 or 30 years, we lost sight of the importance of focusing in on actually why we exist. We don't exist because I want to open a restaurant. We should exist because there's no restaurant like this in this neighborhood. Or people would love another option to try. [❞]( Chip Klose highlights the importance of customer-centricity in the restaurant industry, emphasizing that success comes from solving real customer problems rather than simply fulfilling personal desires to own a restaurant. He urges restaurateurs to focus on what unique value they can provide to their community, suggesting that a restaurant should exist to fill a specific need or offer something new, aligning closely with serving and understanding customer needs for long-term success. [Listen & Subscribe]( Looking for more insights? Listen to the Wisking It All Podcast on your go-to podcast app and elevate your knowledge of the hospitality world with actionable wisdom from an industry leader. P.S. Share your feedback and recommend our podcast to other restaurateurs who might appreciate a sprinkle of our episodes! #WiskingItAllPodcast [Facebook]( [Instagram]( [Youtube]( [Linkedin]( [TikTok]( Sent to: {EMAIL} [Unsubscribe]( © 2024 Wisking It All... by WISK.ai WISK.ai, 488 Wellington St W , Suite 304, , Toronto, ON M5V 1E3, Canada