722: Jeff Fenster on Vertical Integration and Relationship Capital
Explicit content warning
06/11/20 • 80 min
For 14 yours, serial entrepreneur, Jeff Fenster, has been creating companies in all kinds of spaces. These spaces included: a small payroll company, a digital marketing agency, a construction company. Obviously, there's got to be a restaurant thrown into the mix-- fast-casual Acai Bowl concept- Everbowl- with its headquarters in San Diego, CA. In its first 3 years, Everbowl has opened 19 locations in 2 states. He's also got "superfuel coffee" label, which they're selling at retail and on Amazon.
Check out The Jordan Harbinger Show Podcast as mentioned in today's episode.
Check out The Smart Passive Income Blog as mentioned in today's episode.
Show notes... Calls to ACTION!!!- Subscribe to the Restaurant Unstoppable YouTube Channel
- Join the private Unstoppable Facebook Group
- Join the email list! (Scroll Down to get the Vendor List!)
- "If you can crave the result so intensely, the work becomes irrelevant."
In today's episode with Jeff Fenster we will discuss:
- Micro-goals: what are they? How can they help?
- Entering a business/market with zero experience as a advantage
- Penetrate a market with fresh eyes
- 90% of restaurant fail because everyone comes from the same background and does things generally the same
- Relationship capital
- Digital marketing
- Creating the concept of Everbowl
- Benefits of turn-key
- Giving away food for free gets people through your doors and your food in their mouths
- Team members leave restaurants because of lack of opportunities
- Growth; can you grow too fast? Jeff says no.
- Vertical integration
- You NEED a coach and a mentor
Restaurant365 is a cloud-based, all-in-one, restaurant-specific accounting and back-office platform that seamlessly integrates with POS systems, payroll providers, food and beverage vendors. It generates accurate real-time reporting and analysis in user-friendly dashboards, facilitating immediate, data-driven decision making. Restaurant365 eliminates manual, error-prone processes and is designed to help restaurant businesses grow with functionality that helps optimize labor costs, reduce food costs and increase revenue.
Knowledge bombs
- Which "it factor" habit, trait, or characteristic you believe most contributes to your success?
- Relentless
- What is your biggest weakness?
- Lack of patience
- What's one question you ask or thing you look for during an interview?
- Can you make friends and have fun?
- What's a current challenge? How are you dealing with it?
- Juggling family and business, trying to give 100% to each
- Share one code of conduct or behavior you teach your team.
- Be remarkable
- What is one uncommon standard of service you teach your staff?
- Making friends with every customer and make sure no one leaves unhappy
- What's one book we must read to become a better person or restaurant owner?
- Relentless: From Good To Great To Unstoppable by Tim S. Grover GET THIS BOOK FOR FREE AT AUDIBLE.COM
- What's one thing you feel restaurateurs don't know well enough or do often enough?
- Don't look outside their own industry
- Name one service you've hired.
- Solomon Ward Attorneys at Law - San Diego, CA
- What's one piece of technology you've adopted within your restaurant walls and how has it influence operations?
- If you got the news that you'd be leaving this world tomorrow and all memories of you, your work, and your restaurants would be lost with your departure with the exception of 3 pieces of wisdom you could leave behind for the good of humanity, what would they be?
- Make friends and have fun
- Get one percent better every day
- Be relentless
Email: [email protected] -OR- [email protected]
Social media:
For 14 yours, serial entrepreneur, Jeff Fenster, has been creating companies in all kinds of spaces. These spaces included: a small payroll company, a digital marketing agency, a construction company. Obviously, there's got to be a restaurant thrown into the mix-- fast-casual Acai Bowl concept- Everbowl- with its headquarters in San Diego, CA. In its first 3 years, Everbowl has opened 19 locations in 2 states. He's also got "superfuel coffee" label, which they're selling at retail and on Amazon.
Check out The Jordan Harbinger Show Podcast as mentioned in today's episode.
Check out The Smart Passive Income Blog as mentioned in today's episode.
Show notes... Calls to ACTION!!!- Subscribe to the Restaurant Unstoppable YouTube Channel
- Join the private Unstoppable Facebook Group
- Join the email list! (Scroll Down to get the Vendor List!)
- "If you can crave the result so intensely, the work becomes irrelevant."
In today's episode with Jeff Fenster we will discuss:
- Micro-goals: what are they? How can they help?
- Entering a business/market with zero experience as a advantage
- Penetrate a market with fresh eyes
- 90% of restaurant fail because everyone comes from the same background and does things generally the same
- Relationship capital
- Digital marketing
- Creating the concept of Everbowl
- Benefits of turn-key
- Giving away food for free gets people through your doors and your food in their mouths
- Team members leave restaurants because of lack of opportunities
- Growth; can you grow too fast? Jeff says no.
- Vertical integration
- You NEED a coach and a mentor
Restaurant365 is a cloud-based, all-in-one, restaurant-specific accounting and back-office platform that seamlessly integrates with POS systems, payroll providers, food and beverage vendors. It generates accurate real-time reporting and analysis in user-friendly dashboards, facilitating immediate, data-driven decision making. Restaurant365 eliminates manual, error-prone processes and is designed to help restaurant businesses grow with functionality that helps optimize labor costs, reduce food costs and increase revenue.
Knowledge bombs
- Which "it factor" habit, trait, or characteristic you believe most contributes to your success?
- Relentless
- What is your biggest weakness?
- Lack of patience
- What's one question you ask or thing you look for during an interview?
- Can you make friends and have fun?
- What's a current challenge? How are you dealing with it?
- Juggling family and business, trying to give 100% to each
- Share one code of conduct or behavior you teach your team.
- Be remarkable
- What is one uncommon standard of service you teach your staff?
- Making friends with every customer and make sure no one leaves unhappy
- What's one book we must read to become a better person or restaurant owner?
- Relentless: From Good To Great To Unstoppable by Tim S. Grover GET THIS BOOK FOR FREE AT AUDIBLE.COM
- What's one thing you feel restaurateurs don't know well enough or do often enough?
- Don't look outside their own industry
- Name one service you've hired.
- Solomon Ward Attorneys at Law - San Diego, CA
- What's one piece of technology you've adopted within your restaurant walls and how has it influence operations?
- If you got the news that you'd be leaving this world tomorrow and all memories of you, your work, and your restaurants would be lost with your departure with the exception of 3 pieces of wisdom you could leave behind for the good of humanity, what would they be?
- Make friends and have fun
- Get one percent better every day
- Be relentless
Email: [email protected] -OR- [email protected]
Social media:
Previous Episode
721: Sam Glynn on Never Ending Improvements
Originally for North Conway, NH Sam Glynn is a 3rd generation restaurateur. After some time in Florida, where Sam went to escape the snow, get an education in marketing, start (and end) his career in the professional baseball industry, Sam returned to New England. Before long Sam found himself in Rhode Island, and at the age of 27, he opened his first restaurant, Chomp Kitchen, and Drinks, located in Warren, RI.
This is Sam's second time on the show. His first recording was episode 197
check out MailChimp as mentioned in today's episode!
Show notes... Calls to ACTION!!!- Subscribe to the Restaurant Unstoppable YouTube Channel
- Join the private Unstoppable Facebook Group
- Join the email list! (Scroll Down to get the Vendor List!)
- "Improvise, adapt, and overcome."
- Growth
- Increased sales
- Increased efficiency
- Scaling into increased hours
- Don't confuse your customers
- Ways to decrease cooking times for burgers
- Marketing
- Best practices for email collection
- Utilizing segmentation - what is segmentation?
- Why Sam uses Toast POS
- Raising your bottom line
- Self-realization
- Catering
- COVID-19
- Listen more
- Give ownership to your staff
Restaurant365 is a cloud-based, all-in-one, restaurant-specific accounting and back-office platform that seamlessly integrates with POS systems, payroll providers, food and beverage vendors. It generates accurate real-time reporting and analysis in user-friendly dashboards, facilitating immediate, data-driven decision making. Restaurant365 eliminates manual, error-prone processes and is designed to help restaurant businesses grow with functionality that helps optimize labor costs, reduce food costs and increase revenue.
Toast - A POS built for restaurants by restaurant people Adapt fast with Toast's cloud-based restaurant POS system that updates to evolve your POS along with changing industry trends and guest expectations. Toast is built exclusively for restaurants of all shapes and sizes, with over 2/3 of our employees having restaurant experience to serve you better. Online Ordering - Let guests easily order directly from your restaurant for pickup or contactless delivery to keep revenue flowing during these uncertain times. Toast Delivery Services Dispatch local drivers through an on-demand network to keep your community fed and revenue coming in.
QuickBooks for Restaurants a Bookkeeping and Accounting Guide. The back-office restaurant accounting guide you’ve been searching for! Zac covers the accounting fundamentals, including sales tracking, purchasing, bill paying, invoicing, managing day-to-day liabilities, gift certificate tracking, cash management, detailed reporting, and more. Ultimately, Zac show owners and operators how to create the accurate financials and reporting that will enable them to make better informed, data-driven decisions.
Knowledge bombs
- Which "it factor" habit, trait, or characteristic you believe most contributes to your success?
- Lack of complacency
- What is your biggest weakness?
- Lack of complacency
- What's one question you ask or thing you look for during an interview?
- What hobbies do they have outside work? Looking for dedication.
- What's a current challenge? How are you dealing with it?
- Opening a restaurant in two weeks during COVID-19
- Share one code of conduct or behavior you teach your team.
- Make customers feel better when they leave than when they came into the restaurant
- What is one uncommon standard of service you teach your staff?
- Show up mentally every day or else it's a wast...
Next Episode
723: Jason Dady on Scaling Organically & Opening a Restaurant With $50K
Nebraska native and Texan raised, Jason Dady has deep roots in the restaurant industry. He studied Hospitality Management and culinary in Texas and California respectively. After graduating he sharpened his skills in Napa Valley before returning to TX where he opened his first restaurant, The Lodge Restaurant of Castle Hills in 2001. When one restaurant wasn’t enough to hold all of his ideas, Chef Dady opened a second in 2004. Today, Chef Dady's Restaurants include Tre Trattoria at the San Antonio Museum of Art, Two Bros BBQ Market and sister restaurant, Alamo BBQ Co, B&D Ice House, The Range, and Chispas Tacos and Margs.
Check out the book Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Michael Michalowicz as mentioned in today's episode!
Check out episode 437 with David Scott Peters about Menu Engineering as mentioned in today's episode.
Show notes... Calls to ACTION!!!- Subscribe to the Restaurant Unstoppable YouTube Channel
- Join the private Unstoppable Facebook Group
- Join the email list! (Scroll Down to get the Vendor List!)
- "Make it happen and finish strong."
In today's episode with Jason Dady we will discuss:
- Hard work equals sacrifice
- Chef competition
- Work-life balance
- Learning through your treatment how NOT TO treat your team
- Chefs starting out in FOH
- Standing up to bad management
- Respect and dignity in the kitchen
- The energy you bering to your workplace
- Should you attend culinary school?
- Menu engineering
- Financials in the restaurant
- Accountability
- Opening a restaurant at 24 years old
- Business partnerships with family
- Organic scaling
- Do not believe projections on paper
- COVID-19
QuickBooks for Restaurants a Bookkeeping and Accounting Guide. The back-office restaurant accounting guide you’ve been searching for! Zac covers the accounting fundamentals, including sales tracking, purchasing, bill paying, invoicing, managing day-to-day liabilities, gift certificate tracking, cash management, detailed reporting, and more. Ultimately, Zac show owners and operators how to create the accurate financials and reporting that will enable them to make better informed, data-driven decisions.
Toast - A POS built for restaurants by restaurant people Adapt fast with Toast's cloud-based restaurant POS system that updates to evolve your POS along with changing industry trends and guest expectations. Toast is built exclusively for restaurants of all shapes and sizes, with over 2/3 of our employees having restaurant experience to serve you better. Online Ordering - Let guests easily order directly from your restaurant for pickup or contactless delivery to keep revenue flowing during these uncertain times. Toast Delivery Services Dispatch local drivers through an on-demand network to keep your community fed and revenue coming in.
Knowledge bombs
- Which "it factor" habit, trait, or characteristic you believe most contributes to your success?
- Drive
- What is your biggest weakness?
- Trust
- What's one question you ask or thing you look for during an interview?
- What's the best meal you've ever had?
- What's a current challenge? How are you dealing with it?
- Finances - COVID exposes this
- Share one code of conduct or behavior you teach your team.
- Ask for help
- What is one uncommon standard of service you teach your staff?
- Over-season
- What's one book we must read to become a better person or restaurant owner?
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