Founders’ Multi-Unit Summit 2023: Takeaways & Highlights

Our Founders Consumer team recently had the privilege of hosting our annual Multi-Unit Summit at the Henderson Beach Resort in Destin. It was a valuable opportunity to learn and network with industry leaders, experts, and fellow restaurant owners. As we reflect on the conference, here are a few of the many takeaways noted from our outstanding presenters:

Key Takeaways:

1. Set a clear vision for your business. Ensure your leadership team knows the company’s vision and priorities and can clearly share them with everyone. – Kathleen Wood, Kathleen Wood Partners
2. Focus your energy in the right order. Start with your team first, which will drive customer satisfaction, which will drive sales, which will drive profits. – Bob Nilsen, Nilsen Ventures
3. Connect and invest in your community and they will do the same for you. – Amir Mostafavi, South Block
4. Spend more time in the field to improve performance and share best practices. Capture and take action on site visit feedback using streamlined tools and technology (e.g., Trello, Zendesk, Hey Taco). – Alan Lovelace, RPM Pizza
5. Build a personal connection with your servers and team members. If you put them first in your restaurant they will do the same with your customers. – Matt Roth, Walk-On’s Sports Bistreaux
6. Operate your business like a growth equity investor rather than a lifestyle business. Know your market, competition, and key performance measures, and prove out your ability to scale. – Zane Tarence, Founders Advisors
7. When expanding new locations, proactively work with your local municipalities for tax incentives and other benefits to improve your ROI. – Lacy Beasley, Retail Strategies
8. If you decide to raise capital, ensure your new partner is a fit for you and your culture. Do your homework to understand their philosophy and approach. – Lauren Fernandez, Full Course

We hope this information is helpful. Our clients come to us when they reach an inflection point in their business and are thinking about what comes next, including raising growth capital or potentially seeking a liquidity event. If you have any questions about your restaurant business, please reach out to our Consumer Practice Directors, Wayne Vacek (wvacek@foundersib.com) and Nathan Kelly (nkelly@foundersib.com).