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Cheri and Tracey Syphax, founders of Just the Phax, discuss the success of their restaurant business, challenges of buying a restaurant during a pandemic, evaluating the economy, analyzing consumer behavior, dealing with late rents, and their dating coaching business.
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Quick takeaways
- The founders of Just the Facts have successfully navigated the challenges of the pandemic by retaining staff, enhancing their menu and drinks, and attracting customers from nearby institutions.
- Shari and Tracy Syfax emphasize the importance of careful financial management, including having a fractional CFO, in order to adjust expenses and remain optimistic about their business model and customer base.
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Successful ownership of Booker's restaurant and bar
The founders of Just the Facts, Shari and Tracy Syfax, discuss their successful ownership of Booker's restaurant and bar in West Philadelphia. Despite the challenges brought about by the pandemic, the business has been thriving with a 26% increase in sales during the first quarter. By retaining the majority of the staff and making menu and drink enhancements, they have been able to elevate the restaurant's profile and attract customers from nearby colleges and hospitals.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode