Smokey Bones to Open 122 New Virtual Restaurants
Not many restaurants can triple in size during a global pandemic, but Smokey Bones is doing just that by expanding its virtual restaurants, The Wing Experience and The Burger Experience, to all of its brick and mortar restaurants from Chicago to New York to Miami.
Ghost Kitchens – Mergers & Acquisitions
While the ghost kitchen concept is getting plenty of well-deserved press right now, there is one aspect that we believe is worth noting, but which is not yet being discussed: ghost kitchen mergers & acquisitions.
Ghost Kitchen – Fast Failures Leading to Success
As hard as the pandemic has been on the industry, it has also forced some real innovations and creativity. Ultimately this should benefit the consumer and those restaurants and grocery stores who focus on providing the solution which the consumer needs.
Restaurant Revolution: How The Industry Is Fighting To Stay Alive
It’s never been easy to make money in the restaurant industry. A highly fragmented sector dominated by 70 percent independent owners and operators, the average restaurant’s annual revenue hovers around $1 million and generates an operating profit of just 4-5 percent. A financially sustainable business model for small independents is often elusive.
Rewriting the Recipe
The Memphis restaurant industry may be down, but it’s certainly not out, as owners introduce creative ways to retain customers — and keep them safe.
Drive Thru’s Driving Innovation 2
We have seen several restaurants pivot to a digital and drive-thru focus. Witness the new Shake Shack concept, Wawa just opened their first drive thru (which is the first major convenience store to go with this format), Sonic unveiled a new drive-in design, Chipotle’s shift to “Chipotlanes” has received a lot of coverage, and there have been many articles in general about the shift to drive-thru concepts. We believe those are some smart adjustments for any chain which offers a quick-service type of concept.