3 Key Elements To A Well-Developed Restaurant Concept

Aprimary reason attributed to restaurant failure, is poor concept development and subsequent execution.

So what key elements should new restaurateurs focus on to ensure their new restaurant concept has high chances of success.

In this portion of the guide, we discuss in detail three primary elements to consider when drafting out a restaurant concept.

Those 3 key elements being as follows:

  1. A unique selling proposition (USP)
  2. Validation of the concept’s appeal relative to its target market and location.
  3. A clear definition of the concept’s identity.

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Roscoes Files its Exit Plan

Roscoes Files its Exit Plan from Chapter 11

Under Chapter 11 management by The Next Idea, Restaurant Consulting and Management group in partnership with Restaurant Finance Group, Triple Enterprises;  reporting into court-appointed Trustee, Roscoe’s parent company, East Coast Foods filed a repayment plan that returns the bankrupt business to its owner and repays all creditors in full.

This is a very unusual and favourable outcome for a Chapter 11 business and is a direct result of the operational improvements and financial controls installed by The Next Idea and Triple Enterprise teams.

The result was an ability to show the long-term profitability of the business with a higher than market average cash flow, and thus an ability to repay the entire debt over a reasonable timeframe.

We are delighted to see such a positive result for Roscoe’s and wish them well as they emerge from bankruptcy.

This case demonstrates that it is always possible to turn around a troubled business and emerge without negatively impacting jobs, suppliers or customers.

Roscoes House Of Chicken and Waffles 27 Million Debt

Awards 2017

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Corporate Traval Awards 2017

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The Next Idea
Only a very select group of businesses earn our top ratings and the Spectrum Award. Even fewer are able to earn this recognition in consecutive years. Congratulations to you and your team for such an honorable achievement.

The Award is not a snapshot in time of a single interaction, it is all encompassing. That is because we take your ENTIRE customer service performance into account.  Unlike consumer review sites, your 5 star rating is stable.  It will remain 5 stars for the entire 2017 rating year.

People have greater faith in award-winning companies.  As a Spectrum Award winner you earned the opportunity to promote your business as Award Winning!

Key Performance Indicators Explained

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Key Performance Indicators Explained

For a manager, whether one of the team or a designated senior professional, chances are that they will have heard of Key Performance Indicators (KPIs). KPIs are the performance measurement tools or data that represents the success or opportunities within a business – good or bad. There’s a saying “If you can’t measure it, you can’t manage it!”Hence KPIs require reliable and truthful data reports for decision making. Remember, if there’s a problem, required action should be taken. And if the organization is successful, it is easier for the executives to identify the successful elements that may be exploited.In essence KPIs depend on the figures to provide a wider understanding of success.  Read More

Why Poke will be The Next Idea

Poke – The fast food for future generations

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With changing trends in the US restaurant worldPoké is emerging as the new replacement for Sushi. Traditionally pronounced as Po-Kay, this dish has made its way everywhere from the USA beaches, gas stations, surf shacks, local stores and beyond.

Poké is the Hawaiian version of Japanese sashimi (raw fish), usually served on rice or varieties thereof, and as a starter to a traditional Hawaiian meal

This Hawaiian classic, has now been ‘Americanized.It is now casual, comes in plastic, china cups or bowls, and consumed either on the go or wherever one can find a seat. From Los Angeles to Charleston and Brooklyn, this new quick food category is growing fast! Read More

When was the Last time you gave your customer Flowers?

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Differentiation is the process of distinguishing a product or entire offering from others, making it more attractive to a particular target market. This involves differentiating it from competitors’ products and standing out on the competitive landscape through unique positioning.

Differentiation is a source of competitive advantage. Marketing or product differentiation is the process of describing the differences between products or services, or the resulting list of differences. This is done in order to demonstrate the unique aspects of your product and create a sense of value. Without question, differentiation must be valued by buyers. The term unique selling proposition refers to advertising to communicate a product’s differentiation. Read More