The Restaurant Report 231. Restaurants Facing a Growth Wall?
Mar 10, 2023
34:09
The Savory Fund is a restaurant growth company based in the United States that provides capital, expertise, and support to help independent restaurant concepts scale and succeed. They partner with talented restaurateurs to help them expand their businesses, with a focus on innovative and high-growth concepts.
We had a chance to talk with Andrew Smith an executive with the Savory Fund, serving as a Managing Director. He has over 15 years of experience in private equity, investment banking, and corporate finance and has worked with numerous companies in the restaurant and hospitality industries.
Casual Dining Dilema
In recent years, casual dining restaurants have been repositioning themselves to appeal to younger, more health-conscious customers willing to pay more for quality food and service. These customers are also looking for a more relaxed and comfortable dining experience.
Casual dining restaurants are adapting by introducing healthier and more diverse menu options, improving the quality of their ingredients, and upgrading their dining spaces to create a more modern and inviting atmosphere. At the same time, fast-casual restaurants are also expanding their menus and upgrading their dining experiences to attract a broader customer base.
Overall, the lines between casual dining and fast casual are becoming increasingly blurred as both types of restaurants strive to offer higher quality food, better service, and more inviting dining environments to attract new customers.
Based on my research, here are some potential strengths and weaknesses of the Savory Fund and Andrew Smith:
Strengths:
Overall, the Savory Fund and Andrew Smith have significant strengths as a restaurant growth company and executive, respectively. The key for the industry right now with be how brands are identified and how the X-factor can be maximized for growth, there are a few concepts starting to brew in the space, but that is for another show.
We had a chance to talk with Andrew Smith an executive with the Savory Fund, serving as a Managing Director. He has over 15 years of experience in private equity, investment banking, and corporate finance and has worked with numerous companies in the restaurant and hospitality industries.
Casual Dining Dilema
In recent years, casual dining restaurants have been repositioning themselves to appeal to younger, more health-conscious customers willing to pay more for quality food and service. These customers are also looking for a more relaxed and comfortable dining experience.
Casual dining restaurants are adapting by introducing healthier and more diverse menu options, improving the quality of their ingredients, and upgrading their dining spaces to create a more modern and inviting atmosphere. At the same time, fast-casual restaurants are also expanding their menus and upgrading their dining experiences to attract a broader customer base.
Overall, the lines between casual dining and fast casual are becoming increasingly blurred as both types of restaurants strive to offer higher quality food, better service, and more inviting dining environments to attract new customers.
Based on my research, here are some potential strengths and weaknesses of the Savory Fund and Andrew Smith:
Strengths:
- Expertise in the restaurant industry: The Savory Fund has a team of experienced professionals who have a deep understanding of the restaurant industry, including market trends, consumer behavior, and operational best practices. This expertise can help them identify promising restaurant concepts and provide valuable guidance and support to help those concepts grow and thrive.
- Access to capital: As a growth-focused investment firm, the Savory Fund has access to significant financial resources that can help restaurant concepts fund expansion and achieve scale. This can be a substantial advantage for entrepreneurs who might otherwise need help to secure the funding they need to grow their businesses.
- Network of industry connections: Through their work in the restaurant industry, the Savory Fund has developed relationships with suppliers, distributors, and other industry players. This network can be a valuable resource for the restaurant concepts they partner with, helping them to access resources and opportunities that might otherwise be difficult to find.
- Andrew Smith's experience: Andrew Smith brings significant experience in private equity and investment banking to his role with the Savory Fund. This experience can help him identify promising investment opportunities and provide valuable guidance and support to the restaurant concepts the firm partners with.
Overall, the Savory Fund and Andrew Smith have significant strengths as a restaurant growth company and executive, respectively. The key for the industry right now with be how brands are identified and how the X-factor can be maximized for growth, there are a few concepts starting to brew in the space, but that is for another show.