Michael L. Atkinson's Blog – November 2007 Archive (10)

Applebee's Sales Drop

Applebee’s Nov. sales drop

With the IHOP Corp. acquisition of Applebee’s International Inc. expected to

close Thursday, the Applebee’s chain reported on Wednesday a

1.6-percent year-to-year drop in systemwide, domestic same-store sales

for November.

NRN reported that surprise, surprise, Applebee's same store sales dropped. If… Continue

Added by Michael L. Atkinson on November 29, 2007 at 7:48am — No Comments

Do Restaurant Managers Work Too Many Hours?

Probably is the short answer. I just had a conversation with the COO of a growing restaurant chain last night about this. I also, coinicidently, was talking with a restaurant manager yesterday about why he was leaving the business. Both answered yes; too many hours.

Mr. COO was worried about training, turnover and the Company's ability to grow and the need for good managers. Mr. Restaurant manager, on the other hand, was just burned out and missed his family. So, why can't the… Continue

Added by Michael L. Atkinson on November 28, 2007 at 5:12pm — 16 Comments

Raising Money For Your Next Restaurant

This is a very interesting topic and one that I hear discussed often. Depending on your perspective, timing, growth strategy, the amount of capital required, type of concept, sensitivity to risk, geography, personal financial situation, unit-level economics, corporate structure, and capital requirements, among other prerequisites, the answer is different. And, so will the answer for each business cases.…

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Added by Michael L. Atkinson on November 23, 2007 at 3:12pm — 2 Comments

The Las Vegas Restaurant Scene is Insane

I just returned from Las Vegas on a quick business trip. Restaurants are so incredible and plentiful that it's nearly impossible to make a decision on where to drink and dine. Is there any room for any more restaurants?

The incredible Las Vegas City Center is coming with an $8 billion price tag as one of the largest privately funded project ever. Of course, it's in Vegas. I was told by an informed source, that there are over 100 new restaurants planned just on The Strip, somewhere,… Continue

Added by Michael L. Atkinson on November 17, 2007 at 6:53pm — 2 Comments

$haring Tips

This post isn't about what you think it's about. It's not about sharing tips with other FOH and BOH employees. It's about sharing tip information, anonymously, with the world. It's about disclosing how much you make on each shift, assuming you are a tipped employee. Don't worry, I am not an agent for the IRS, just curious.

When I was a food server, way back when, I decided where to work based on convenience, the employee group and whom I knew. So I networked. I never blindly applied… Continue

Added by Michael L. Atkinson on November 13, 2007 at 6:40pm — 1 Comment

Danny Meyer

I have been a fan of Danny Meyer for years and love to dine at any one of his restaurants in New York.

Here is an article I cam across that talks about him, his restaurants and his management philosophy.

Danny Meyer on being a restaurant manager, your own boss

By ELIZABETH LAZAROWITZ

DAILY NEWS BUSINESS WRITER

Monday, November 12th 2007, 4:00…

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Added by Michael L. Atkinson on November 12, 2007 at 10:27am — No Comments

Where is the National Sushi Chain?

P.F. Chang's seemingly came out of nowhere years ago to take a leadership position as the first national Chinese restaurant chain. Darden did the same thing years earlier with Olive Garden in the Italian segment. Even before that (now I'm showing my age) Victoria Station in the steak segment. So, I ask, who is it going to be in the Hot Hot Sushi segment.

Ra Sushi
Nobu…

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Added by Michael L. Atkinson on November 9, 2007 at 12:39pm — 6 Comments

Will the Credit Crunch Affect M&A?

Now this is an interesting question. If so, this affects valuations, which we know have been all over the map, ranging from 5X to 12X...OMG! Remember discount factors? Remember when lack of geographic diversification was a bad idea? Remember the old days when a "rapid unit expansion strategy" was acceptable?

So how bad is it? Are deals getting done? Is Chapman still the big dog and prognosticator of all things M&A? Will GE close its doors to restaurants and finally stop its bait… Continue

Added by Michael L. Atkinson on November 4, 2007 at 5:44pm — No Comments

Do Restaurants Just Lose Steam?

Why is it that some restaurants just keep plugging along; year after year. How can they keep improving and stay fresh, stay relevant and comp year over year? Why is it that some restaurants lose steam, even if they are still relevant and still offer good food and service in a clean, inviting atmosphere?

I was in Campbell, California last night looking for a new dining experience. I found an interesting Mexican fast-casual restaurant that was packed at about 7:30 PM. It was brightly…

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Added by Michael L. Atkinson on November 3, 2007 at 10:31am — No Comments