Here’s a fun (and always informational) audio replay from this week’s “Best of Laguna Beach” radio show at KXFM 104.7, Laguna’s only community radio. Just click above to begin the replay. See the “Show Notes” below for a quick summary of what we covered.
Have you ever walked into a restaurant that just feels saggy and worn? While some tried and true loyal customers will say it’s exactly what gives the restaurant its charm, in most cases you wonder if you should be eating there.
Consumers will silently tell a restaurant owner when it’s time to change things up. It’s really the most significant hint to look for when you own a restaurant that’s losing its consumer base.
So, what can restaurant owners do to put the shine back on the apple?
Well, actually, they have quite a few options, many of which are just a few thousand dollars and provide excellent “bang” for one’s buck.
Yesterday in Monday’s KXFM 104.7 radio show, I chatted with Restaurant Developer Bruce Russo about what many restaurant owners have on their minds heading into the New Year.
Actually all that thinking typically falls into two categories …
Existing restaurant owners who sense their restaurant is fading into the background
Existing or potential restaurant owners looking at a “second generation” restaurant option, i.e. moving into a former restaurant space with their new concept.
In this radio show/podcast, Bruce and I discuss many options for spritzing up a restaurant. And, he offers hearty sage advice and critical tips for potential owners and investors looking at a second generation property BEFORE they sign the lease.
SHOW NOTES SUMMARY:
At what time in a 10-year lease life does a restaurant begin to show wear and tear and.or its concept begins to fall off the “Most Wanted” list?
Who restaurant patrons typically complain to more than the owners, themselves
What happens when an owner is the true Quality Control Guru of the restaurant (Diane mentions 3 Laguna Beach restaurants that definitely show a restaurant owner as “guru,” large and in charge of their longevity, including THE Master of “Profit Pods” in Laguna.
When a restaurant is looking tired, here’s what you can do while just shutting down for a day.
The lifeline of a “trend restaurant” (even some that pull $1.5-$2 million every 30 days) - We both tell tales of groups of investors who have this down to a science.
The difference between needing to update and a large overhaul. We talk impervious kitchen flooring, HVAC warning signals and those new building codes and ADA codes.
Then we arrive at second generation space . . . .
What to be aware of if the space is more than 5 years old, and the only way code compliance isn’t necessarily mandated and why ADA will still be mandated, no matter what.
The two most critical issues you must be fully aware of before signing the lease for that second generation space, including the most important (and commonly overlooked) investigation points.
The biggest potential money pit culprit in a second gen restaurant.
Bruce tells the hilarious story of how he and his team typically change an entire nightclub’s concept in 5 days or less (with a penalty clause if it’s not done in that time frame . . . so far, no penalty clause in 40 years).
The GOLDEN RULE when you take over second generation space. We talk the critical importance of this golden rule, including our own branding confusion stories when you violate this Golden Rule.
“If we can bring attention to certain details and save anybody some money, or help them improve their concept to significantly spike their revenue, or make them think … “Hey I’ve got to take a look at what we’re really doing here. Maybe we can be doing 10% or 20% better than what we’re currently achieving,” … you and I have accomplished a lot.”
Bruce to Diane during the discussion
Restaurant owners: Feel free to reach out to me with queries on what you can do for your own existing space or that space you’ve had your eye on. It is, after all the Year of the Wood Snake in 2025, a particularly auspicious year for business, indicating new movement, wide decisions, sure speed and ease in progress!
Just click “REPLY” to send me an email directly or send a note to Diane@ArmitageInc.com
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