Mastering the Art of Restaurant Growth: Strategies from Troy Hooper – Listen to S2 EP20 Now! 🎙️

Mastering the Art of Restaurant Growth ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ March 01, 2024 Mastering the Art of Restaurant Growth: Strategies from Troy Hooper – Listen to S2 EP20 Now! 🎙️🍔 Troy Hooper, CEO of Hot Palate America, brings a hearty serving of expertise with over 30 years of seasoning in the hospitality industry. [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. Your Host, Angelo Esposito THIS WEEK’S EPISODE Meet Troy Hooper. Troy Hooper serves as a Global Business Unit CEO for Pepper Lunch, leading its North American operations under Hot Palette America. With a rich background spanning 30 years in the hospitality industry, his leadership has been instrumental in developing Pepper Lunch's franchise model and expanding its presence in North America. Troy's expertise in building and rebranding restaurant concepts has significantly enhanced the brand's growth and recognition across the hospitality sector. In this week's episode, we slice and dice through the complexities of running a successful restaurant franchise. Troy, with his 30 years of hospitality expertise and his role at Hot Palate America, is here to share a feast of actionable insights. 🔑 We explore: - Dive into the mindset shift needed for restaurant owners moving into franchising. It's about serving up success – way beyond the kitchen. - How spending dedicated time analyzing a brand’s history can reveal the secret sauce to strategic planning and achieving drool-worthy goals. - Discover the key ingredients of mindset and financial resources crucial for concocting a robust franchise development plan. - Uncover the modern marketing tactics that could boost your restaurant's visibility. Spoiler: It's more than just pretty plates! - Savor the methods leading to the best practices in recipe costing, and inventory management, and why knowing your numbers is a non-negotiable. [Watch the full episode on Youtube]( 2 IDEAS FROM THE PODCAST Idea #1 Understanding Financials and Operational Efficiency - Know Your Numbers: Understand not just what your financial numbers are, but why they are what they are. This involves a deep dive into your P&Ls and inventory management. - Seek Help and Education: Utilize resources like the Small Business Development Center (SBDC) or consultants to understand your financials and operational metrics. - Identify Benchmarks: Determine what your numbers should be based on your restaurant type (QSR, fast casual, etc.), including delivery and off-premise percentages. - Labor Management: Control labor, the most variable expense, by optimizing scheduling. Question and test the number of staff needed for prep work to find efficiencies. [Listen to the Episode]( Idea #2 Crafting a Winning Strategy for Restaurant Growth Here are some strategic approaches to amplify your restaurant growth effectively. - Spend 45-60 days assessing brand history, identifying gaps for strategic planning. - Show success across 3-5 stores in various markets before franchising. - Ensure accurate P&L reports and inventory management for menu pricing accuracy. - Restaurants should aim for more than the minimal 1-2% in marketing efforts. - Understand who your customers are, their preferences, and what they'll pay. - Keep a tight grip on COGS, labor, and recipe costs to drive efficiency. - Convey your restaurant's unique story consistently across all social media platforms. - Leverage Content Use user-generated content ethically for authentic and engaging marketing. - Use free podcasts, videos, and industry professionals to learn and improve. [Listen on Spotify]( [Listen on Apple Podcast]( 1 KEY LEARNING ❝  Knowing what the number is makes no difference if you don't know how to change it. And so you have to know what to do to change it, and what should it be? [❞]( The critical need for restaurant owners and managers to go beyond merely knowing their financial metrics highlights the importance of understanding the reasons behind these numbers, which is essential for controlling costs, optimizing operations, and making informed decisions to enhance business performance. [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