In its February issue, Foodservice News has launched an ongoing column by Dennis Monroe which offers a different approach to reviewing Twin Cities restaurants. Rather than focusing on the cuisine — something that is already expertly handled by a number of fine food writers in town — Dennis’s reviews will look at local restaurants from a truly business standpoint, examining those factors that determine their potential business success.
“Because no chef will be opening his or her books to me,” Dennis explains, “I’m making some of my assumptions based on experience representing business owners in the restaurant space for 35 years. I’ll also be asking experienced consultants and restaurant owners for their take.”
The following six elements will be evaluated in each review:
- Experience of the management: Have they succeeded elsewhere?
- How do the décor and investment influence the physical side?
- Unit economics–number of seats
- Menu and pricing
- Overall business proposition.
Each of these areas will be rated from one to four, with four being the most likely to succeed.