Josh Boshard

There has been a recent wave of #restaurant closures across the industry in #2024. Major chains including TGI Fridays, MOD Pizza, Outback Steakhouse, Applebee's Grill & Bar, Boston Market, and Red Lobster. Hart House the #LosAngeles-based #vegan chain from comedian #KevinHart recently shuttered all of their stores with no explanation. The reasons behind the closures may vary, but the outcomes are similar — #job loss, vacant #retail and capital loss for #investors.

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Rubio’s Coastal Grill is closing 48 locations due to the "rising cost of doing business," citing the new $20 per hour minimum wage as a significant factor. With job losses and increased automation, the impact is being felt across the sector. Small businesses are also feeling the squeeze, struggling to compete for minimum wage workers. #California #MinimumWage #BusinessImpact #FastFood #Rubios #Economy #JobLosses #SmallBusiness https://lnkd.in/ghHgP3Qs

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One of the many ways we communicate with our investors is our Investor Packet. This is our most “official” bi-annual communication that includes financial updates, balance sheets, and detailed MD&As from our restaurant leadership. The Investor Packet is one of our tools to provide our investors with complete and accurate details on how we are doing and what they can expect in the future. When it comes to investor relationships, while of course, “performance” is a key component, there is so much more than that. Investors deserve to know how company leaders are thinking, what they’re seeing, where they are finding success, and where they are struggling. I’m grateful to have investors where I don’t need to play my cards close to my chest. I hate when I let them down, but I take comfort that they want the straight talk. I listen to earnings calls of companies, and I'm thinking “who is really believing this spin?” -- I never want to be that guy, and I never want investors who want that kind of relationship. Be diligent and cautious when it comes to raising capital – it always comes with strings attached, the key is to understand the character and expectations of those strings. There will be great years, good years, and bad years as well. An investor with real character stands with you through all of that. #investorreport #restaurantindustry #investorrelationships #investors

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Not all news is happening at #FODC2024. California Attorney General Rob Bonta has announced that California is banning restaurant fees and surcharges beyond posted menu prices. The interpretation is still murky, but seems to exclude: 💲 Tipping and any other comp that goes 100% to employees (does this mean healthcare surcharges are still fair game?) 💲 Delivery Fees (does this mean marketplace Service Fees and "California surcharges" are gone?) 💲 Prices lower than posted menu are ok (but higher, no -- implications for dynamic pricing?) It did say that all Delivery Charges must be a fixed fee and not a percentage, and that they must be known by the customer upfront (before they get to checkout). So that does not bode well for Service Fees. The new pricing complications are based on AB 478, a truth-in-advertising law passed last year. https://lnkd.in/eXZX7AYd

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WITHOUT RAISING PRICES (and having an instant impact).... How is Pepper Lunch Restaurants recapturing margins? CEO Troy Hooper spoke at the California Restaurant Association Presidents Panel, a few months ago; and one of the hottest discussions was how to defend restaurant profitability: ✅ From constant attacks of rising costs and regulations; and ✅ Without customers' having to carry the load I clipped this one-minute, forty-five second answer. Please watch and repost, so that it helps as many of our peers as possible! The restaurant industry will be here, forever. What are other ways we operators can be here forever, too?

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"Confessions of a GM: 20 Years in the Trenches of Restaurant Servitude I've spent two decades in the hospitality industry, and let me tell you, being a server is NOT for the faint of heart! It's a tough job, folks, and I've seen it all - the good, the bad, and the 'I-can't-believe-I-have-to-wear-this-ugly-uniform' ugly. As a GM, I've had the pleasure of working with some of the most incredible people on the planet (and some not-so-incredible ones, but that's a whole other story). And let's be real, the 'work hard, party hard' mentality is REAL. I mean, who needs a social life when you can have a 12-hour shift, followed by a night of 'networking' with your coworkers at the bar? But what this video (and most people) don't mention is that many servers are actually superheroes in disguise. They're students, single parents, debt-ridden graduates, or just people who need a job to make ends meet. And yet, they show up every day with a smile, ready to take on the chaos of the dining room. So, to all my server friends out there, I see you. I know the struggles are real, but so are the laughs, the camaraderie, and the sense of accomplishment when you make it through a crazy shift. Keep on keeping on, and remember, it's all worth it for those precious few minutes of peace during your break."

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I don't think anyone who follows the restaurant industry will be surprised by the statistics in this article from Restaurant Business Online (https://lnkd.in/ehcs_TFA). In short, restaurants are losing traffic to retailers - particularly supermarkets and convenience stores - which have upped their game when it comes to prepared foods. And while the focus may be on prepared foods, the reality is frozen and refrigerated prepared foods have also improved giving prepared foods overall a run for their money. The longer this situation plays out, the more fundamentally consumer behavior will change for the long-term. Their expectations from restaurants will shift, their perception of value will change, and the role restaurants play in their lives will be altered. There's no easy answer here as restaurants continue to struggle with rising costs and labor shortages. Fine dining restaurants are benefiting as they offer strong value propositions based on consistently excellent hospitality, food and beverages, but this segment can't power the foodservice industry. Ultimately, we need bold innovation not only in menu offerings but operational formats to meet consumers where they are now and where they'll be in the future. #menumatters #foodservice #restaurants #foodandbeverageindustry #consumerinsights #consumerbehavior #cpg #hospitality #trends2024 #innovation #retail

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In this PMQ Pizza article, I speak about some of the equipment that we've implemented at Cannoli Kitchen Pizza - It is truly a game changer for the industry! #QSR #Pizza #Franchise https://lnkd.in/eKjGCraN

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As a restaurant owner, maximizing revenue is crucial for the success and sustainability of your business. From managing costs to optimizing menu offerings, every decision can impact your bottom line. in today's discussion, I am going to show you eight...

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Congrats to team @ Jackson Family Wines for La Crema Winery being named the 'American Winery of the Year' by Wine Enthusiast! It's a pleasure working with your incredible team. Well deserved. La Crema was honored as American Winery of the Year for its commitment to sustainability, innovation, and quality. Known for cool-climate winemaking, the winery continues to expand its influence through partnerships and community-focused initiatives. https://lnkd.in/eyA9FyMN Here's the other wine updates from Mark Brown's daily newsletter: 1.) The 50 Best Wines of 2024 VinePair's annual list highlights standout wines from 2024, featuring traditional expressions like Chenin Blanc from Loire Valley alongside innovative varietals from emerging regions like the Finger Lakes and Oregon. https://lnkd.in/eJRUssa4 2.) This Private Equity Company Is Quietly Becoming a Pacific Northwest Wine Powerhouse Ackley Brands, a Seattle-based company, has rapidly expanded in 2024 by acquiring prominent Pacific Northwest wineries like Charles Smith Wines LLC and Columbia Ridge Winery. Focused on a long-term strategy, the company aims to promote the region's wines globally. https://vinepair.com/ 3.) Bronco Wine Co. Names Dominic Engels Chief Executive Officer Congrats to Dominic Engels, with extensive experience in food and beverage business, being named CEO of Bronco Wine Co. Engels plans to build on Bronco's legacy and lead innovations in sustainability while navigating challenges in the changing wine industry. Excited to see the next chapter. https://lnkd.in/gwz8GrrR 4.) Selling a Californian Winery? Get Ready for a Reality Check With declining wine sales and an aging population of vineyard owners, California's winery market faces oversupply and falling real estate values. Experts emphasize realistic expectations for sellers in a challenging market. https://lnkd.in/gV4e-8Pt 5.) American Wine Trade Steels Itself for Possible Tariffs The U.S. wine industry braces for potential tariffs under President Trump, which could harm small and family-owned businesses reliant on imported wines. Would small US vineyards however benefit from the move? I'd love to see a analysis of the winers vs. losers on this one. https://www.nytimes.com/ 6.) Willamette Valley Vineyards Posts Results for Q3 2024 Willamette Valley Vineyards reported slight revenue growth for Q3 2024, driven by increased direct sales but offset by a decline in distributor sales. Efforts to boost direct-to-consumer interactions are expected to yield positive future results. Well done managing the downturn! https://lnkd.in/gnRmP3SF 7.) What Does the Future Hold for Texan Wine? Texas's wine industry is growing rapidly, producing over 75 grape varieties and generating significant economic impact. While most sales remain within the state, local producers are exploring ways to expand nationally and internationally. https://lnkd.in/g6TK3EsB

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Even though a quarter of the restaurants on this year’s Top 100 Independents list saw sales declines over the previous year, these resilient operators implemented some crafty pivots. Joe's Stone Crab Restaurant claims the #1 spot. Dive deeper to see how this segment collectively grossed nearly $2 billion in food and beverage sales in 2023 with Restaurant Business Top 100 Independents list. https://lnkd.in/g8C5-qVr

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Beverage contracts and the related negotiations are complicated. Onerous contract language has cost restaurant operators millions of dollars that they didn’t have to spend (or millions they left on the negotiating table). Here is a list of eight issues that restaurant operators should be aware of when negotiating a beverage contract!

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Every restaurateur I know wants to either make 20% profit at the unit level or, if they don’t, they want to know why their restaurants don’t make a profit at that level. They have heard the overworked saying that restaurants operate on “razor-thin margins.” Of course, that saying refers to the industry as a whole, so it includes successful restaurants as well as average and unsuccessful restaurants – the good, the bad, and the ugly. Combined, all restaurants average 3-5% profit. Show me one person who started a restaurant brand because they had a dream of being average! My business is about making successful people more successful. You must have success first before you work with me. Aiming of more than just being average? Let’s make your restaurants a standout success! Read here to learn more: https://lnkd.in/gQdYgbbj #restaurateur #restaurant #success #businessadvice

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Too many in this industry don’t know how to operate their own restaurants, and it all comes down to not focusing on what’s really important. At the 2024 Prosper Forum, I shared how real leadership means being in the trenches, leading by example, and not shying away from any task. That is the culture we’re building at Craveworthy Brands and what makes our concepts and franchisees successful. #ProsperForum2024 #Leadership #LeadByExample #RestaurantIndustry

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We hate reporting on things like this. The filing follows the chain closing scores of locations in recent weeks, blaming rising costs and hiring difficulties. #foodservice #foodserviceindustry #restaurantindustry #restaurantsupply #fooddistributor #foodmanufacturing #foodmanufacturer #foodmanufacturers #foodmarketing #restaurantindustry https://lnkd.in/gR8ZshcM

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We lined up and locked in East Oakland California My Guy D pause got his own line get your right into all the hood stores asap What’s funny is dude runs a company worth 11 billion on my page just looking whyyyyyyy you don’t got a quick 100 million and we figure this out you know my splits crazyyyy $1.66 a bottle maaaaaaannn my margins are off the chain trust me on this stop watching before my next crunchiness say series a funding with 12-15 million trust me people talking im turning down stuff turned down shark tank and target we about the money not the notoriety we gotta be able to give the money back to Oakland not our own pockets #CFO #CRO #CMO #CCO #RevOps #RevenueOperations #SalesOps #GTM #Finance #Sales #Marketing #CustomerSuccess #Compensation #SalesQuotas #SalesTerritories #ResourceAllocation #VentureCapital #PrivateEquity #StrategicFinance #FPandA #Alkaline #AlkalineWater #PrivateEquity #Oakland #BayArea #siliconvalley #sanjose #AI #ChatGPT #b2b #d2c #hellagood #hella #HellaGoodWater #SEO #Marketing #SocialMedia #California #doortodoor #distribution

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Concept Expansion & Lehi Bakery #4 Announcement ---- At some point, most business owners grapple with questions about expansion. When? Where? How to expand? When is enough, enough? For me, these questions have consumed countless hours of brain-time. For a few years, my main question has been: should Lehi Bakery remain a single-location concept or should we expand our footprint?  Ultimately for us, the decision to expand to multiple locations came after a few years of growth on Lehi Main Street. As our sales grew 20-30% every year, I found great joy in being able to provide increased wages and benefits to our team. I quickly realized that these investments in our team helped us attract and retain some of the most amazing people in our industry. But, in addition to that, I also realized that we would eventually lose the ability to promote and give additional opportunities to our best, career-oriented professionals if we stayed a single location. To me, that was not acceptable and made me feel inclined towards expanding into new locations. Adding our Saratoga Springs location this March has proved to be such an amazing choice. Since adding this location, we have: 📈 promoted two leaders into salaried, management positions. 🚘 increased convenience to our raving fans (overall Lehi Bakery traffic +120% in April). 🍩 tracked towards a $2,000,000 AUV across both of our stores. Now that we are fully permitted for our lot in Cedar Hills, we expect to start construction on Lehi Bakery #3 as soon as we get our utilities in place. This will provide more management growth opportunities and tremendous convenience for our fans in Highland, Alpine, Cedar Hills, and Pleasant Grove. Lehi Bakery #4 isn't too far behind. Today, we are thrilled to announce that Lehi Bakery will be adding a 4th location at 3497 West 11400 South in South Jordan (right next to The District). We will pull no punches with this location. It will be a flagship, double-drive thru location that conveniently serves the communities of South Jordan, Herriman, and Riverton with our Best of State products and hospitality. You won't be able to find a higher class, convenient, and hospitable bakery anywhere. I am pouring every ounce of detail into this location that I can, ensuring that we continue to provide great career opportunities and first-class experiences to our fan base in Salt Lake County. Some management decisions are quick and easy. Others take more time and are more difficult. But after several years of weighing the alternatives, I'm enjoying every part of the ride that is concept expansion. If you'd like to support our expansion plans, we are always open to working with like-minded equity investors who want to provide additional growth capital that supplements our rapid, organic growth. (Picture: Our 9-year old, Calvin, working at Lehi Bakery in Saratoga Springs. He works most Saturdays opening doors, passing out donut holes, and serving some customers.)

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🚨 The dangers of drinking & driving 🚨 The recent news about Tyson Foods' CFO pleading not guilty after a drunken driving arrest highlights a critical issue. Drinking and driving endangers lives, damages careers, and tarnishes reputations. ✊ It's critical those in positions of power & influence remember the importance of responsible choices and set a strong example for our communities. #wsj #insurnace #claims #nyc #foodandbeverage #hospitalityindustry https://lnkd.in/gd2RRHSe

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Restaurant Owners Should Be Looking at This KPI Every Day: Total Daily Revenue. Track Food Sales, Beer Sales, Wine Sales, Third-party Sales, and Catering Sales. Compare these numbers to your Month-to-Date (MTD), Year-to-Date (YTD), and Inception-to-Date (ITD) averages. Reviewing this helps identify trends and anomalies. (If something's off, investigate immediately to keep your revenue on track.)

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