874: Jay McSharry Founder/CEO of JGroup Hospitality
Restaurant Unstoppable with Eric Cacciatore
Real Estate - What Are You Looking for in a Partner?
If the banks buy into you, they will fun. You mind you have to put your 20% down or 25%. Now, if you do an s o s b a five o three loan, you only have to put ten % down and half your loan is fixed for 20 years. So it sounds like, you ye. Another way of seeing that is you want to recruitrsn y, recruit from within. I don't want somebody just knocking on my door and saying, hey, i want to be your partner. I one of me, absolutely yes. I want to give somebody ownership. That's really successful. Did it with kate. Kate worked here eight years. We
Jay McSharry, a local restaurateur, graduated from the University of New Hampshire in 1990. Nearly a decade after graduating, he returned to NH's Seacoast to fulfill his vision and opened Jumpin' Jay's Fish Café. Building on the restaurant's success, Jay went on to open numerous establishments in the region, including Jumpin' Jay's Fish Café, Moxy, Vida Cantina, The Franklin, Street, Luigi's West End Pizzeria, Ore Nell's Barbecue, The Railpenny Tavern, Dos Amigos, as well as other projects on the Seacoast. In 2020, Jay was named James Beard Award semi-finalist in the Outstanding Restaurateur category. Today, Jay's JGroup Hospitality is the umbrella under which the majority of his restaurants exist.
Check out episode 820 with Stephani Robson on Business Planning as mentioned in today's episode!
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In this episode with Jay McSharry we will discuss:
- Difficulties with owning/operating a restaurant in the 1980s
- Similarities between theater and restaurants
- Seeking mentors
- What NOT to do
- The importance of including your staff in important decisions
- Creating a business plan
- Gathering investors/raising capital
- Starting small
- The benefits of a working owner
- Knowing when to scale
- How to name your restaurant wrong
- How to remove yourself from the business as the owner
- The importance of partnerships
- Knowing when to close a restaurant
- How to be both a restaurant and real estate owner
- What to look for in a chef-partner?
- Constant communication is key with partners
- You're only as good as last night's service
- Advice for landlords and tenants
- Unique difficulties with a pizza concept
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Knowledge bombs
- Which "it factor" habit, trait, or characteristic you believe most contributes to your success?
- ADD
- What is your biggest weakness?
- Not knowing people's names
- What's one question you ask or thing you look for during an interview?
- Do you want to be here?
- What's a current challenge? How are you dealing with it?
- Staffing
- Share one code of conduct or behavior you teach your team.
- Treat everybody fairly
- What is one uncommon standard of service you teach your staff?
- Work as a team
- What's one book we must read to become a better person or restaurant owner?
- Zingerman's Leadership books
- GET THIS BOOK FOR FREE AT AUDIBLE.COM
- What is something restaurateurs don't do well enough or often enough?
- Compliment the staff
- What's one piece of technology you've adopted within your restaurant walls and how has it influence operations?
- Name one service you've hired.
- Gaskets - Summit Supply
- 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?
- Treat everybody fairly
- Appreciate every day
- If you see it, you own it
JGroup Hospitality website: jgrouphospitality.com
Thanks for listening!Thanks so much for joining today! Have some feedback you'd like to share? Leave a note in the comment section below!
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Huge thanks to Jay McSharry for joining me for another awesome episode. Until next time!
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