Restaurant Owners Uncorked

Trey Morgan and Derek Copeland of Sentinel Grove Partners pull back the curtain on the high-stakes world of restaurant real estate and private equity. The trio explores the critical importance of the landlord-tenant relationship, viewing it as a long-term partnership rather than a mere transaction, and discusses the shift toward a "landlord’s market" in high-growth regions like the Sunbelt. Beyond the numbers, Trey and Derek emphasize that successful investing is about "betting the jockey, not the horse," highlighting how exceptional leadership, staff retention, and clear succession planning are the true indicators of a concept's longevity in an unpredictable economy.10 Key Takeaways Interview Your Landlord: A lease is only as good as the people behind it. Talk to existing tenants to see how the landlord handles crises before signing. Bet the Jockey, Not the Horse: A great concept (the horse) will fail with a poor operator, but a great operator (the jockey) can pivot and save a concept during a "black swan" event like COVID-19. The "Disproportionate" Equity Model: A popular funding structure involves paying investors back 100% of their capital first; once de-risked, the profit split shifts in favor of the operator. Staff Longevity as a Metric: High retention (e.g., staff staying 20+ years) is the ultimate green flag for investors, signaling a healthy culture and operational stability. The "Landlord’s Market": In high-growth areas like the Southeast, low vacancy and high demand mean rents are spiking, requiring operators to be faster and more prepared during negotiations. Banking is still Face-to-Face: Despite digital trends, walking into a branch and looking a lender in the eye is still the best way to secure capital for a restaurant. The Rule of Three Banks: Operators should maintain 2–3 banking relationships, as individual banks may lose their "appetite" for the restaurant sector depending on the economic cycle. Inflation Beyond Rent: It’s not just the base rent; skyrocketing "Triple Net" (NNN) costs—taxes, insurance, and maintenance—are the biggest current headwinds for operators. Succession Planning is Mandatory: Investors need to know what happens if the founder "gets hit by a bus." A business that can’t run without its owner is a risky investment. Tenant Mix Matters: Successful real estate development requires a balance; too many restaurants in one center creates parking "cannibalization," hurting everyone’s sales.

Wil peaks with Enga Stanfield, co-owner of Pizza Today's 2025 Pizzeria of the year, multi-location Mattenga's Pizzeria in San Antonio, and Head of Community at Owner.com. Enga, an Iranian-born former engineer with no prior restaurant experience, shares how she and her husband Matt transitioned from engineering to restaurant ownership in 2014 by purchasing a struggling pizzeria, initially losing significant money due to inexperience. Through relentless grassroots marketing, obsessive cost control, data-driven location selection, and frugal self-funded growth, they turned the business around, expanded to multiple locations, achieved consistent strong sales growth, and built a profitable family-oriented operation that prioritizes community giving, strong systems, and work-life balance while preparing for potential franchising.10 Takeaways No experience required, but commitment is essential: Enga and Matt had zero restaurant or business background yet succeeded through sheer passion, grit, and a willingness to learn from expensive mistakes.  Obscurity is the biggest enemy: The real problem isn't perfect recipes or discounts, it's getting known. Aggressive, consistent marketing (guerrilla tactics, drop-offs, parades, costumes) is the owner's primary job.  Babysit numbers, not people: Obsess over P&L, labor percentages, food costs, and sales forecasting—small percentage improvements on large volumes create massive profit impact.  Hustle beats excuses: External factors (bad location, competition like Chick-fil-A) are irrelevant; successful owners take full responsibility and aggressively pursue customers.  Give to receive: Donating hundreds of pizzas monthly, supporting schools with spirit nights, and community involvement builds loyalty and drives long-term growth.  Location math matters: Use free tools like USPS Every Door Direct Mail to analyze household density, income levels, and demographics to ensure a site can support target sales and profit margins.  Break growth into simple math: Reverse-engineer sales goals into daily orders needed, then create targeted marketing plans to acquire and retain those customers.  Build systems and people, not just rockstars: Strong operational systems and deliberate team development allow scalability. Doing $15/hour tasks yourself prevents building a real business.  Negotiate everything: Leases, vendor prices, contracts: always ask, build in exit protections, and never sign desperate deals. Walking away power is crucial.  Profitability enables generosity: Running a tight, systematic, profitable operation allows you to pay people well, give back to the community, and maintain a thriving family life.

Israel Jiles reflects on his evolution from managing elite, high-volume establishments like Catch NYC and partnering with Montclair Hospitality Group (Ani Ramen) to founding his passion project, Po Boy Riche. The episode captures the pivotal moment around the one-hour mark where Jiles discusses the decision to leave the security of established hospitality groups to build something deeply personal.The discussion centers on the "uncompromising pursuit of authenticity"—from shipping legendary Leidenheimer bread directly from New Orleans to ensuring his beignets rival those of Café Du Monde. Jiles explains that Po Boy Riche isn’t just a restaurant; it’s a cultural bridge. He shares insights on the grit required to launch in the competitive Jersey City market, the importance of operational excellence learned in the "big leagues" of NYC dining, and his philosophy on community-centric business, exemplified by the restaurant's "Artist Wall."10 Takeaways The Power of Provenance: Authenticity isn't a buzzword, it’s a logistics challenge. Jiles emphasizes that using authentic New Orleans French bread is non-negotiable for the brand's integrity. The Pivot to Purpose: Transitioning from high-end "trendy" dining to casual soul food requires a shift from selling status to selling comfort and heritage. Operational Rigor: His experience at Catch NYC provided the blueprint for scaling and maintaining consistency, even in a cozy 20-seat neighborhood spot. Strategic Partnerships: The collaboration with Chef Darrell Raymond (with 25+ years of experience) shows that even a "simple" sandwich shop benefits from high-caliber culinary leadership. Catering to Modern Palates: While rooted in tradition, Jiles highlights the necessity of inclusivity, offering vegan and gluten-free options like BBQ mushroom po' boys. Cultural Stewardship: He views his role as an ambassador of New Orleans culture, ensuring that the "debris-style" fries and chicory coffee are educational moments for customers. The "Leap of Faith": Around the 83-minute mark, Jiles addresses the psychological weight of leaving a successful corporate partnership to start from scratch. Community as Interior Design: By featuring local photographers on the "Artist Wall," the restaurant becomes a living gallery that belongs to the neighborhood. Marketing Through Tradition: Using "Big Game" catering and weekend brunches (like Hummingbird French Toast) creates multiple "entry points" for different customer demographics. The Mastery of Simplicity: The episode concludes that doing a few things perfectly (the po' boy, the beignet, the gumbo) is more impactful than an overextended menu.

Asheville-based restaurateur Jacob Sessoms shares his 26-year journey from a trade-focused background in electrical work to becoming a James Beard-nominated chef. Sessoms details how his early experience in construction provided a unique "unfair advantage" in the restaurant world, allowing him to maintain his own facilities and stay resilient during lean times. He discusses the difficult transition from being a passionate cook to a disciplined business owner, highlighting the shift from sole proprietorship to a sophisticated investment model that allows for shared risk and growth. Throughout the conversation, Sessoms advocates for "running into the storm" like a bison, viewing failures, including the 2008 crash and COVID-19, as essential educational assets that build long-term grit and operational strength.10 Key Takeaways Technical Skills as Leverage: Jacob’s background as an electrician allowed him to fix his own equipment, saving thousands in repair costs and proving his worth in NYC kitchens. The "Bison" Mentality: While cows run away from storms (and stay in them longer), bison run into the storm to get through it faster. Successful owners face challenges head-on. Cooking vs. Business: Opening a restaurant isn't about "making food"; it’s a business of managing rent, debt, and payroll. The food is often peripheral to the objective of the business. Failure as Tuition: View financial setbacks (like a $14,000 audit) as the price of a business education you didn't get in a classroom. The Advantage of Being Under-Capitalized: Starting "scrappy" forces owners to learn every facet of the operation, building a foundation of resilience that over-capitalized owners often lack. Evolving Ownership Models: Moving from a sole proprietorship to raising equity from investors can provide a safety net and allow owners to "breathe" during cash-flow crunches. Economic Cycles: Recognize that the economy operates on 8-to-12-year cycles; understanding this helps owners prepare for the inevitable "down" periods. Strategic Partnerships: Success often relies on strong partnerships. Jacob continues to work with his ex-wife and primary business partner, Alicia, to manage their diverse portfolio. Turning Adversity into Opportunity: Jacob’s first restaurant, Table, was born after a potential partner’s struggles left him holding a lease he had to navigate alone. Practical Education: Jacob preferred the French Culinary Institute because it was 100% lab-based with no classrooms, emphasizing that hospitality is a craft learned by doing.

Sue Straughan, a tenured hospitality specialist and Corporate Director of Business Solutions for the food distributor Ben E. Keith, shares her remarkable 40+ year journey in the industry, detailing how a necessity job at Baskin Robbins evolved into a profound passion. The discussion centers on her pivotal experience working for Houston's restaurant, where she learned that "chaos and hospitality could coexist in a way that was beautiful", and how she applied these high standards to help turn around the struggling James Coney Island chain. This success was achieved not by raising prices, but by relentlessly focusing on systems, consistency, team pride, and the overall guest experience, demonstrating that flawless execution on the basics is the key to driving sustained sales and word-of-mouth growth.10 Takeaways  Prioritize Execution over Complexity: The most successful businesses, especially in restaurants, focus on doing fewer things perfectly rather than many things averagely. This requires a constant discipline to maintain simplicity. Hospitality and Chaos Coexist: High-volume restaurants (like Houston's with 1-3 hour waits) prove that it's possible to execute 100% flawlessly and maintain composure ("calm in the middle of chaos") by having robust systems and an intentional team culture. The Menu Should Serve the Concept: Keep the menu small and focused (e.g., Houston's one-page, 22-item menu). Introduce new items only if they meet strict time standards (e.g., eight minutes at lunch) and, if needed, replace an existing item to prevent complexity creep. Structure and Systems Build Culture: Employees thrive when they know what is expected of them. Implementing detailed, consistent systems, from cleaning standards to specific service greetings, creates a "well-oiled machine" and instills a sense of pride in the team. Invest in Your Team's Pride: Simple things like new uniforms, standardized training, and daily pre-shift meetings can significantly boost team mentality, tenure, and passion by making employees feel valued and reinforcing the importance of their role. Sales Growth Should Precede Price Hikes: The turnaround at James Coney Island focused first on driving sales by improving the guest experience before considering raising prices. The four ways to drive sales are: raise prices, encourage higher spend per visit, increase visit frequency, or attract new customers. Focus on Low-Hanging Fruit for Revitalization: Start improvement efforts by addressing what the customer sees first, such as clean parking lots, fresh paint, working signage, and clear glass. These visual cues are essential for first impressions. Measure and Reward Hospitality: Implementing a rigorous system like a 10-page mystery shopper report, coupled with accountability and financial rewards for achieving high scores (e.g., $1,000 manager bonus), can directly correlate with rising sales. Focus on What You Can Control: Don't rely on external factors like the weather to drive business. Concentrate effort and resources on perfecting the inside of your four walls: the guest's experience from driving by to walking out. Reverse-Engineer Customer Frustration: Identify the top five things consumers are most frustrated with in your industry (e.g., long waits, inconsistent quality) and intentionally do the exact opposite to stand out and "blow their mind."

This episode features Donnie Madia of One Off Hospitality, a James Beard Award-winning Chicago restaurateur, discussing the paramount importance of human connection, service, and soul in hospitality. Madia shares his origin story, starting as a bartender who learned to view himself as an "independent contractor" focused on cultivating customer relationships. He critiques modern distractions, calling mobile phones the "contraption" that destroys in-person dialogue. While he supports using AI for administrative tasks, he strongly opposes its intrusion into service roles, citing a machine that folds napkins as an example of soul-destroying automation. Finally, Madia highlights his support for The Giving Kitchen, an organization providing essential mental and financial health lifelines to hospitality workers in crisis.10 Takeaways Independent Contractor Mindset: Madia spent 10 years bartending, learning to build a personal clientele by treating his role like that of an independent contractor, focused on entertaining and taking care of people. Service is Built on Trust: True hospitality is guests trusting the restaurant and staff. Service involves simple, mindful tasks, like making eye contact or going the extra mile, which foster genuine human connection. The "Contraption" Problem: The average person checks their phone 27 times per hour, leading to wasted time and missed connection opportunities. This requires employers to actively teach mindful presence and eye contact. Signal vs. Noise and the 85/15 Rule: Madia advocates for spending 85% of time on micro-tasks (hyper-focused work) and 15% on macro-distractions (noise) to maximize effectiveness, arguing most people have this ratio reversed. Relationship Over Transaction: Long-term success is not transactional; it requires selflessly building trust and credibility. Repeat customers are the byproduct of a wonderful, relationship-driven experience. AI as Tool, Not Soul Replacement: AI can assist with admin (emails, accounting). However, automation should not replace human roles that build camaraderie, such as folding napkins, which would destroy the soul of the business. The Investment in Staff: Madia's philosophy focuses on the intangible value of staff investment. Paying people well and treating them with respect leads to low turnover, continuity, and team camaraderie, offering a superior experience. Hospitality is Essential: Restaurants are essential human spaces for congregation and escape. In a digitally isolated world, people increasingly crave the authentic human experience and the memory and story of food cooked with heart. The Giving Kitchen Lifeline: Madia champions The Giving Kitchen, an organization that provides vital financial and mental health resources to hospitality workers facing crises (e.g., severe injury or financial disaster). Power of Authentic Connection: An example of true connection: The Giving Kitchen's representative hand-delivered invitations to restaurateurs in Chicago, resulting in a near-perfect attendance rate, proving the effectiveness of intentional, non-digital engagement.

This episode of "Restaurant Owners Uncorked" features a conversation with Eric Scheffer, owner of The Scheffer Group in Asheville, North Carolina. Eric provides an update on his successful concepts (Vinnie's Neighborhood Italian Restaurant, Jettie Ray's Oyster House, Gan Shan, and a fifth on the way) and shares a harrowing account of the 2024 Hurricane Helene flood. This 1,000-year disaster crippled Asheville, leaving the city without power and water for months.Eric and his team immediately pivoted, mobilizing their four dark kitchens to feed the community, eventually serving nearly 50,000 meals in partnership with World Central Kitchen. The biggest challenge was securing water: Eric brokered a personal "handshake deal" over bourbon with a Texas water tanker driver. This, combined with the ingenuity of a local plumber, led to the creation of a temporary, complex filtration system, allowing his restaurants to safely operate. Demonstrating remarkable community leadership, The Scheffer Group then helped 21 other local restaurants replicate the expensive system to get them back online.Eric reflects that the tragedy changed his philosophy, underscoring the vital importance of deeply supporting employees who are often "a paycheck away from nothing." He emphasizes that in business, self-reliance is crucial ("the cavalry is not coming") and success hinges on the ability to pivot and be resourceful. Despite seeing the dark side of disaster profiteering, Eric remains optimistic about the economy stabilizing and Asheville's strong rebound.Key Takeaways Community Heartbeat: Restaurants are vital social and physical hubs, essential for leading disaster relief and support. The Pivoting Imperative: Business survival requires an immediate capacity to pivot operations, such as shifting to counter-service, to navigate sudden crises. Disaster Mobilization: Eric's group successfully leveraged closed kitchens and existing stock to serve nearly 50,000 meals in partnership with World Central Kitchen. Resourceful Solutions: When city utilities failed, water was secured through a personal "bourbon and a handshake" deal with a contracted tanker driver and a plumber's innovative filtration system. Mutual Aid: Eric's team extended their water solution to help 21 other Asheville restaurants quickly achieve operational status. Employee Focus: The crisis reinforced the importance of deep employer support for staff, many of whom face significant financial precarity. Self-Reliance: External help (FEMA, government) is unreliable. The core philosophy is that "The cavalry is not coming," forcing businesses to figure it out themselves. The Dark Side: Disasters expose the "disgusting" reality of individuals and companies exploiting human tragedy for obscene financial gain. Optimism/Stabilization: Eric sees stability returning; commodity prices (fuel, distribution) are starting to drop, suggesting a positive year ahead. Vendor Partnerships: Communicate financial struggles with vendors; negotiating product alternatives or pricing can foster collaborative survival.

Julian Boyd, CEO of D’bo’s Daiquiris, Wings & Seafood, shares the incredible story of the Memphis-born brand, pioneered by his parents, David and Latisha Boyd, starting with a food truck in 1990. Built on faith and the philosophy of "People, Service, Profits," D'bo's became known as the "godfather of hot wings" in Memphis. Following a personal tragedy, Julian earned his MBA to strategically guide the company's franchising expansion. The concept continually evolves—adding daiquiris and seafood—and successfully adapted to post-COVID challenges through on-site experiences and smart tech integration. D'bo's is now focused on intentional growth across the Southeast and Midwest.10 Takeaways Wing Pioneers: Founded in 1990 from a food truck, D'bo's is credited as the "godfather of hot wings" in Memphis. Entrepreneurial Grit: The founder maxed out five credit cards for capital when banks refused, demonstrating immense belief in the concept. Core Philosophy: The business success is rooted in "People, Service, Profits," prioritizing customer and staff well-being above all. Faith and Family: Julian's drive to grow is deeply tied to honoring his late older brother, emphasizing family first. Strategic Education: Julian pursued an MBA with a family business focus to learn how to scale the company through intentional franchising. Menu Evolution: The concept has adapted over 35 years, expanding to include daiquiris, seafood, smash burgers, and fried catfish to diversify revenue. COVID Adaptation: The quick-service model thrived during the pandemic, boosted significantly by the ability to sell to-go alcoholic daiquiris. Profit Protection: D'bo's switched its primary online ordering to DoorDash Storefront for its crucial 100% chargeback protection feature. Experiential Revenue: New on-site events like brunches, karaoke, and live music were implemented to increase sit-down traffic and spending. Headwind Strategy: To manage rising costs, D'bo's focuses on menu innovation (e.g., loaded fries) and increased volume rather than aggressively out-pricing customers.

Brandon Laroque. Brandon, who owns The Goat Bar in Raleigh, NC, details his extensive career in the hospitality industry, starting from a country club to bartending at a renowned comedy club, which eventually led him to open six of his own bars, primarily using a "flipping" strategy. The core of the discussion revolves around the challenging decision to retire and close his successful, long-standing bar due to mounting stress from employee issues and the difficulty of verifying increasingly sophisticated fake IDs, which led to legal problems with alcohol law enforcement (ALE). However, his retirement was abruptly cut short when he was devastated by the theft of over $3 million in cryptocurrency from a cold wallet. This financial catastrophe forced Brandon and his wife to make the difficult choice to reopen The Goat Bar, facing new bureaucratic hurdles with the city to reinstate expired permits. The segment concludes with Will transitioning into the formal podcast interview, eager to share Brandon's compelling and dramatic story.10 Takeaways Longevity and Experience: Brandon and his wife have a combined 70 years of experience in the hospitality industry (30+ for him, 40 for her). The GOAT Bar's Success: The Goat Bar, a dive bar in Raleigh, has been a highly successful "cash cow" since opening in 2003, built on years of hard work, self-maintenance, and a strong local following. Entrepreneurial Spinoffs: Brandon's experience at Charlie Good Nights comedy club, where he was forced to be hands-on, spawned approximately 30 different bars opened by former employees, including six by Brandon himself. "Flipping" Bars: Brandon developed a strategy of opening, establishing, and then selling (flipping) bars, noting his favorite part of the business is the opening process. Growth Challenges: He learned the hard lesson that owning multiple bars brings "three times the headaches and one and a half times the money" compared to a single location. Impact of 2020: The COVID-19 shutdown (2020) and subsequent reopening severely impacted the business, leading to employee turnover and stress, contributing to the decision to retire. Sophisticated Fake IDs: A major stressor was the rise of highly realistic fake IDs, often from China, that are nearly impossible for bar staff to verify, even with ID scanners, leading to legal action from ALE agents. Control State Regulations: The bar operates in North Carolina, a control state, where the state controls liquor sales, which means the bar pays a high tax (approx. 75%) on liquor purchased from the county ABC. Retirement Derailment: The planned retirement, which included moving to Las Vegas, was unexpectedly ruined by the theft of over $3 million in cryptocurrency from a cold wallet. Forced Reopening: The financial loss forced Brandon and his wife to abandon retirement plans and reopen The Goat Bar, leading to new challenges with re-securing permits from the city.

In this episode, Chris Gannon, co-founder of Bolay Fresh Bold Kitchen, shares his journey in the restaurant industry, influenced by his family's legacy in hospitality. He discusses the unique culinary experience Bolay offers, emphasizing health-conscious choices and community dining. The conversation explores the challenges of supply chain management, labor issues, and the importance of hospitality in creating memorable dining experiences. Gannon advocates for encouraging youth to join the hospitality industry, highlighting the valuable life skills it imparts. The episode concludes with a discussion on growth strategies, particularly the benefits of joint ventures over franchising.Takeaways Chris Gannon's background in hospitality stems from his family's legacy. Bolay focuses on nutritious, bold flavors from various cuisines. The restaurant industry is evolving towards healthier food options. Community dining and breaking bread together are essential for connection. Supply chain challenges are a significant concern for restaurants today. Hospitality is crucial for creating memorable dining experiences. Labor challenges and minimum wage increases impact restaurant operations. Encouraging youth to work in hospitality teaches valuable life skills. Joint ventures may offer more control than traditional franchising. The restaurant business thrives on teamwork and collaboration.