When banks wanted a third-party guarantee who didn’t have to sell their house to repay franchisee loans, Ken Switzer, CFO of Marco’s Pizza, stepped in with an unusual idea. As a result of the frozen credit market, Switzer developed Marco’s Assurance, which offers a $50,000 guarantee on franchisees’ loans. The idea helped the company grow […]
Being in the right place at the right time is the key to success in any business. And as the nation finally begins to climb out of one of the worst recessions in U.S. history, a number of quick-service companies are advising their franchisees that, with soft real estate prices, lower construction costs, and increasing […]
It’s no secret that running a restaurant is a risky business. The fact that many restaurants will ultimately fail early in their existence is not lost on most entrepreneurs, and yet they carry on anyway in hopes that their restaurant dreams can be made true. The risk inherent to opening a restaurant—both mom and […]
After running nuclear reactors for submarines, Loren Goodridge was ready to be his own boss. Navy alum Goodridge became a Subway franchisee in 1992, and has since been recognized for his strategic planning skills by Subway CEO Fred DeLuca and grown his franchise company to 20 units. Armed with military-refined leadership skills and a strong […]
After an abundance of successful business ventures, David Lobel founded Sentinel Capital Partners, a private equity firm that specializes in buying and building middle-market companies in the U.S. and Canada. Along with other prosperous investments, Lobel and senior partner and cofounder John McCormack have made their mark in the quick-serve industry. With past investments touching […]
The 2011 National Restaurant Association’s Hotel-Motel Show, which takes places from May 21-24 in Chicago, will feature more than 70 education sessions that will tackle issues like social media and commerce, increasing sustainability efforts, technology innovations, and how philanthropy can boost business, among other topics. “Trends, challenges, and technologies are constantly evolving in the restaurant […]
While the old adage says there’s nothing new under the sun, the new decade brings fresh takes on traditional menu items while ethnic, vegan, and local ingredients make farther inroads into the quick-serve culinary scene. In the fourth annual QSR Chef Survey, the industry’s top kitchen professionals explain what frugal fatigue means for your concept’s menu and […]
Goodfella’s of Staten Island has launched a brick oven pizza school. The school will teach everything from the basics (how to make dough) to more advanced details such as how to manage inventory. The pizzeria is getting a lot of calls, according to Scot Cosentino, founder of the school, from as far afield as Argentina. […]
A diner wants to eat out but doesn’t know where. Should he decide based on type of cuisine? Neighborhood? Pick a hot spot? Now consumers have the ability to choose a restaurant depending on who’s offering a special deal. A new website, BiteHunter.com, is described as the Kayak.com of dining. The website is “a real-time […]
The National Restaurant Association Educational Foundation (NRAEF) announced that Ralph Brennan, esteemed restaurateur and president of the Ralph Brennan Restaurant Group, has been named the 2011 Thad and Alice Eure Ambassador of Hospitality. Brennan will be honored at the 25th Annual Salute to Excellence on Saturday, May 21, 2011, at the Hilton Chicago. Kicking off […]
Never before has innovation been as essential to running a successful quick-serve restaurant concept. During what has turned out to be the most daunting recession in our nation’s history, innovation has been the driving force for the concepts that are beating the odds. Often, the inspiration for innovation comes from the top, and that certainly […]
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