Ever wonder why so many restaurants fail?
(And of those that don’t fail, many merely scrape by)
Peter LeSar has spent the last decade studying and applying First Principles to achieve stratospheric restaurant success.
Not just scraping by. Not just surviving. Thriving.
He’s done it for multi-national publicly traded hospitality companies and single-location concepts alike.
Lucky for us, he’s catalogued potent restaurant first principles in his book Restaurant Strong:
I loved this book. Peter digs into elemental truths that underpin a restaurant’s success or failure.
That’s what first principles are — elemental truths that never change.
(A simple exercise to get to a first principle is to look at a problem you have in your business, and continue asking ‘Why?’)
Here’s one of my favourite excerpts from the book:
“There is a question that most restaurateurs never ask aloud: “Where do greatness and great financial results come from?” The short answer is that they both come from the same source and are dependent on one another. That source is in having a growth model structured to attract large numbers of new customers, attract back large numbers of diminished customers and to convert both at unusually high rates to loyal ones. Stacking up large numbers of loyal customers with high lifetime values is the growth model of restaurants, and yet how to do this authentically, repeatedly and for the long term is not the meaty subject of any restaurant development or management course in the world.”
Peter LeSar, Restaurant Strong
You won’t want to miss this episode with Peter. Tune in now. 🎧
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