The 2024 Bar & Restaurant Expo will be debuting an all-new educational opportunity: The Start-up Essentials Bar & Restaurant Bootcamp.
Curious about what a new bar/restaurant owner needs to know? The new Start-Up Essentials Bootcamp has all the answers. This day-long intensive will cover everything from a pre-opening checklist to creative concept development, financing and funding, hiring your dream team, landlords, leases, locations, and more. Seven industry experts will present sessions throughout the day on these topics as well as provide “tricks of the trade,” business strategies, tools, and resources to ensure your new venture is equipped for profitability and success.
Seven industry experts will be leading participants in seven sessions on everything you need to know to get your bar/restaurant open, financed, staffed, and marketed:
- Marcus Guiliano, Chef & Owner, Aroma Thyme, Farm To Table Bistro
- Chip Klose, Restaurant Coach, Restaurant Strategy
- Michael Tipps, Managing Partner, Invictus Hospitality
- David Kaplan, CEO, Death & Co.
- Obadiah Ostergard, CEO, Vine Hospitality
- Doug Radkey, President, KRG Hospitality
- Caroline Schmidt, VP US Marketplace and Customer Experience, SilverChef
Interested in signing up? Add the Start-up Essentials Bar & Restaurant Bootcamp to your registration!
A Look at What Will be Covered
Starting Out
To kick off the day, Doug Radkey, president of KRG Hospitality, will present the session, "Starting A Bar or Restaurant, The Non Negotiables." The session will provide attendees with a head start on the planning process. Radkey will cover general requirements, costs, mindset, characteristics, and strategy plans needed to start a successful brand. You'll learn the five key characteristics needed to win in today's environment, the self-assessment you need to complete to prepare yourself for the journey ahead, and the systems and eight strategy plans you need to start with.
We asked Radkey for a sneak peek at one of the eight strategy plans he'll be covering. "One of the plans we will be discussing is a feasibility study," he says. "Before developing a viable concept, you need to first qualify its potential. Many new bar and restaurant owners skip this important first step, which significantly increases the financial and operational risk. With a feasibility study, you can qualify (or dis-qualify) the concept by truly analyzing the demographics, socio-graphics, competitive landscape, real estate landscape, trend reports, and financial viability before investing further time and financial resources. This should be the absolute first step in the process, and in our mind, is 100% non-negotiable."
Something else that's non-negotiable during the planning phase? Doing the work and research. "It takes time. Trust the process and [don't] rush into irrational decisions on a location until the plans are complete," says Radkey. "Do the research, complete the plans, organize your financials, and then start location scouting based on the data, budgets, and strategy plans."
Financing & Cash Flow
Later in the day, Caroline Schmidt, vice president of U.S. Marketplace and Customer Experience for SilverChef, which is also sponsoring the bootcamp, will present, "Restaurant Financing & Operating Expenses." Schmidt will talk about how understanding cash flow is key to getting the most out of your profits. She will dive into the fundamentals of cash flow: what it is, why it is important, and strategies to leverage financing to support the growth of your business and improve profitability.
Why is cash flow so important? Schmidt says its key to creating a successful and sustainable business, "It is through that clear understanding [of cash flow] that operators are able to budget for those fixed operational expenses, have funds available for variable costs, and have the financial ability to then develop customer-focused initiatives that will push their bar/restaurant to the next level."
Of course financing also plays a big role in opening a business, and Schmidt provided some insight into strategies she'll be discussing during her session. "Ensuring you have available funds for things that can't be typically financed is integral to the success of any business," shes says. "When it comes to expenses such as rent of premises, wages, taxes, cost of supplies and goods, utilities etc., these are the operating costs that require available cash and are required to keep your doors open.
"Utilizing financing on things like restaurant and bar equipment as part of your overall business strategy allows you to maintain that available cash flow for those expenses, maintain the ability to cover any unforeseen emergency costs, and focus on the growth of your business."
Making Time for Marketing
Towards the close of the bootcamp, Chip Klose, host of the Restaurant Strategy Podcast as well as a Restaurant Coach, will lead the session, "How to Build a Marketing Strategy that Actually Works!" Marketing is something that most independent operators either don't do well or don't do at all, but it's crucial.
"Something I hear all the time from restaurant owners—especially independent operators—is that they don't have time for marketing. It's complicated and expensive, and they just can't tell if it even works," says Klose. "Sadly, that mindset means they're dead in the water."
In his session, Klose will teach owners a true definition for marketing, how to identify a target market, a simple way to differentiate your brand, and how to market your restaurant with greater intentionality.
"I feel like there's a big misconception about what marketing even is, so let's clarify it," says Klose. "If you sell things to other human beings (which you do), then it pays to figure out which human beings are most apt to buy from you. That's marketing! And, of course, you'll then want to figure out how to convince them to buy from you instead of one of your competitors. That's marketing!"
Klose says marketing can be summed up by three questions: What is the product? Who is it for? How can you reach them?
"Simply try to understand who has a problem you're uniquely qualified to solve. Then explain to the diner why your solution (your restaurant) is a more compelling choice than anything else out there (like your competitors). Answer the question: why should a diner choose you? That's marketing!"
And if you're confused on what platforms to use to market your bar/restaurant, Klose says to focus less on the medium and more on what you're trying to achieve. "Think of what you're trying to accomplish (like trying to attract more first-time diners) and then brainstorm all of the best ways to accomplish that," says Klose. "Put some of those tactics into action and then measure the results. In this example of trying to focus on 'customer acquisition' we might do Google Ads, Direct Mailers, Facebook and Instagram Advertising, etc. We should set a budget, put those things into action, and then measure the results. We then see what the data tells us."
Schedule
Here's a look at the full schedule for the Start-up Essentials Bar & Restaurant Bootcamp.
9:00 AM Starting A Bar or Restaurant, The Non Negotiables
Here's your chance to gain a head start during the planning stage. During this workshop, we will go over the general requirements, costs, mindset, characteristics, and strategy plans needed to start a successful brand in this industry. You will learn the five key characteristics needed to win in todays environment, the self-assessment you need to complete to prepare yourself for the journey ahead, and finally the systems and eight strategy plans that are 100 percent non-negotiable. After this session, you will leave with the confidence, understanding, and tools needed to start a successful bar or restaurant along with a detailed 500point startup checklist.
9:45 AM A Cathedral in A Suitcase
Life experience and a little Imagination is all it takes to create a concept that makes an impact. Michael Tipps will help unlock your vision in 45 minutes. Whether you are considering embarking on a new venture or want to re-brand your current venue, this session is for you. You may laugh, you may cry, but at the end of this 45 min journey you will have new pathways to your success.
Michael will share his professional journey and outline a unique, applicable, step by step process that will allow you to simplify your “process”. Be creative within the business. You are the key to bringing your vision to life.
10:30 Break (15 min)
10:45 AM Restaurant Financing & Operating Expenses
Building up a hospitality business from the ground up is incredibly challenging. Not only do you have to have a great concept for the venue, but you also need the business acumen to drive sustainable profitability and success. In a business where margins are razor thin, understanding how cash flows in and out of your business is key to getting the most out of your profits. In this talk, Caroline will dive into the fundamentals of cash flow: what it is, why it is important, and strategies to leverage financing to support the growth of your business and improve profitability.
11:30 AM Landlords, Leases & Location: The True Art of the Meal
We've all heard the old real estate mantra, location, location, location and while location is critical, of equal importance is the deal itself, and your partners in the process. Those first few decisions you make when embarking on a new venue will determine your ultimate success. This means knowing the market, understanding the questions you need to ask, and having the tools available to answer them.
12:15 PM - 1:15 PM Break For Lunch
1:15 PM Building Your Dream Team
It’s no secret that a qualified team is hard to come by, yet alone having staff show up for a shift.. However there are very specific strategies to attract and build your dream team. A team that increases revenue and saves on operational costs. And how to balance and leverage technology and your team.
2:00 PM How to Build a Marketing Strategy that Actually Works! – CHIP KLOSEMarketing is something that most independent operators either don't do well or don't do at all. But in our business it's absolutely crucial. Over the course of 45-minutes you will learn 1) a true definition for marketing, 2) how to identify a target market, 3) a simple way to differentiate your brand (in even the most saturated market), and 3) how to market your restaurant with greater intentionality. By the end you'll have a clear idea of how to build a brand that has staying power, and how to market that brand more efficiently and effectively.
2:45 PM - Break (15 min)
3:00 PM - 5:30 PM Creating the Guiding Principles for You and Your Business
This seminar is intended to tie your day together and leave you with tools to put into immediate practice. Before embarking on your entrepreneurial journey it is essential to establish and understand your personal "why" - defining your values, mission and goals. Once you have this map created you can turn to your business and capture the same - the company core values, mission, 10 year goal, 3 year picture and 1 year plan. In this long format, hands-on workshop we'll build both tools together in real time, taking the rare opportunity to rise above and work on yourself and your business rather than merely in. During our time together we'll also discuss the practical application of these tools as brought to life in examples from David's 17 year hospitality journey - from consulting, books, canned cocktails, marketing, growing Death & Co across the country, starting a new hotel company and more.
Ready to get started? Sign up today for the Start-up Essentials Bar & Restaurant Bootcamp by adding it on to your registration!
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Plan to Attend or Participate in the 2024 Bar & Restaurant Expo, March 18-20, 2024
To learn about the latest trends, issues and hot topics, and to experience and taste the best products within the bar, restaurant and hospitality industry, plan to attend Bar & Restaurant Expo 2024 in Las Vegas. Visit BarandRestaurantExpo.com.
To book your sponsorship or exhibit space at the 2024 Bar & Restaurant Expo, contact:
Veronica Gonnello (for companies A to G) e: [email protected] p: 212-895-8244
Tim Schultz (for companies H to Q) e: [email protected] p: 917-258-8589
Fadi Alsayegh (for companies R to Z) e: [email protected] p: 917-258-5174
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