We’ve been in San Francisco this week, visiting the Fancy Food Show. Fancy food manufacturing is a potentially lucrative activity for restaurant brand extension. We’ve seen this at the enterprise level. For instance, Wolfgang Puck, The Cheesecake Factory and the California Pizza Kitchen all make products for resale in supermarkets.
Now we're seeing the same phenomenon among mid level and small businesses.
Last post, I began to talk about catering as a potential new sales opportunity for restaurants. As today ( Jan 20) was a special day - rather than just write about food manufacturing as a possible diversification strategy, we made a homemade movie about restaurant companies that we came across in the show that are doing just that.
My experience is that a company's day-to-day involvement in a spun off factory operation can range from completely hands on to almost completely hands off, with consultants and professional services companies filling in the gaps. There are, if you like, two basic avenues: co-packing/white label production and making-it-yourself. We touch on both here:
The video was fun to do; like I said, homemade.
The take away here is that some restaurant operators are seeing that their brand is extensible to the shelf, at the grocery level. It has everything to do with packaging, and the selection of distribution channels.
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Darden Restaurants, Inc. (NYSE: DRI) announced that Clarence Otis is stepping down as Chairman and Chief Executive Officer of the Company. Darden's Board of Directors has appointed the Company's current Independent Lead Director, Charles A. Ledsinger, Jr., as Independent Non-Executive Chairman of the Board, effective immediately. The Company also announced that it has amended its corporate governance policies to provide for the separation of the Chairman and Chief Executive Officer roles.
Today the National Restaurant Association issued the following statement regarding the National Labor Relations Board’s (NLRB) decision asserting McDonald’s Corporation is a joint employer of its franchisees:
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If you are looking for capital to start or grow your restaurant, create the next 501c3, develop and launch the next app for the restaurant industry,or want to help your peers in some meaningful way, we want to know about it.
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