Meredith, Carl, Ruth Chris discussed on The Restaurant Coach Podcast
Now you got a chip and playing it in your wrist and then you know he actually communicates to him and then the drivers show up and then the orders food on the go and the drone flies and drops off in his taxi. I was like, oh my God, where did that happen? I'm ready for that. So I love that chapter. I mean, it really made me like, oh my God, the possibilities are endless, really. Where we're going, what would you say in this bright different for each of you? What's the one chapter in your book that you say is a must read for every restaurant operating in 2022? If you had to pick one chapter, one child, okay? Well, I'll give a very functional practical answer. And it's a chapter that we really debated hard on as to whether we should write it. Because it's what I call the elephant in the room. And that is chapter 7, where we discuss the profitability of off premise and the whole idea of third parties and the fees and is it even worth it and really trying to just get into the nuts and bolts of it. And it's a chapter. And ashamedly that we have with a whole bunch of P and L statements. And we basically break it down. And we break it down to be able to demonstrate that actually when you look at this through a marginal profit lens, actually it starts to make more sense. And when you start to understand about building in your first party channel and looking to a convert customers that you perhaps acquired through a third party marketplace and brought them across to your own private channel, that's the way in which this will grow. And then, of course, the way in which you'll start to accumulate customer data and be able to have at your disposal and ability to market and create amazing guest experiences forevermore. So for us, that was a really important chapter, but it's one that certainly creates a level of debate too. Meredith will be your favorite chapter. Well, for me, yeah. For me, it's why pizza works. And I love that one. I love this chapter because pizza to me is a glimpse of the future. Pizza wasn't always the way that we experience it today. It didn't always come delivered in a box. There used to be a few of them out there, but that used to be a sit down red roof dine in Pizza Hut, right? And to see that shift from that old sit down dine in restaurant. Now today to it always comes delivery and how the business models change to enable that. I think is really telling of where the restaurant industry is likely to go. And you know, there's a lot of people in keeping with what Carl just said, a lot of restaurant people who say, oh, it's deliver stuff. It'll never be profitable, you know, the venture capitalists are subsidizing all these platforms and I hate it, and I wish it would just go away. And I point to domino. And I say, well, they're delivering they've been doing a lot. They make a lot of money. So if they do it, I think the rest of us can figure it out too. Yeah. I know, I know you mentioned like Pizza Hut in the book and stuff like that. And I remember, so again, a lot of our early memories are about food and when we were kids and stuff like that, and I remember going to Pizza Hut when I was a kid. I was like, that was like going to Ruth Chris nowadays, I go into an high end steakhouse, like when we were a kid, we're going to Pizza Hut. We were so excited, you know? It was like amazing, yeah. Yeah. I mean, those are good days, and stuff like that..