On August 24, hosts, Robin and Eric Gagnon are joined by a panel of industry experts as they discuss Quarterly Restaurant Market Update & Forecast on Atlanta’s AM Talk 920. The guests include Editor of Restaurant Finance Monitor, Jonathan Maze and CPA and President of NetFinancials, Bob Wagner
The panel will discuss the first half the 2013 restaurant performance and will discuss forecasts for the third and fourth quarter as well as the trending data.
The panel will explain why restaurant sectors aren’t performing to their usual standards and why casual dining is down, quick service restaurants are flat and fast casual dining is declining. “The Industry is fighting for a limited chair of diners” said, Jonathan Maze.
The panel will also discuss the under-served market and its infinite possibility of growth. Industry experts debate on whether or not an operator should cater to the large market or expand their business to the under-served B and C markets, a place of new concepts and ideas. The panel will address why restaurant sales have gotten progressively worse in the months of June, July and August. Bob Wagner and Jonathan Maze explain why national chains are easier to obtain lending because of their lower risks and predictable cash flow.
Bob Wagner will explain why Atlanta’s “demographically expansive mode” contributes to the city’s high restaurant sales. “Atlanta restaurants have seen a 4.2 percent increase compared to the national average in trend” said, Bob Wagner.
The group will discuss the new trends in the restaurant industry such as the expansion of food trucks, locally sourced and sustainable food practices.
In the show’s last segment, “Restaurant Reality”, restaurant brokers, Robin and Eric Gagnon are joined by restaurant brokers, John Jordan of the Colorado franchise of We Sell Restaurants and Ken Eisenband of the South Florida franchise of We Sell Restaurants. The Brokers discuss why an operator should beware of looking internally to measure their success. Eric Gagnon explains why operators should look outside of their business and measure their business against the industry. Eric Gagnon also shares a cautionary tale of an operator who lost 15k a month because of his handful of loyal customers. The team also explains the concept of an asset sale and how entrepreneurs can purchase a restaurant for pennies on the dollar.
Guests include:
Bob Wagner is a CPA and President of NetFinancials. Bob’s first job in the restaurant business was bus-boy in an incredibly busy Howard Johnson’s. He lasted just one day. It was then that Bob realized his only chance to make it in the restaurant business was in the back-office. After college, graduate school and a career with a big international accounting firm, Bob got the call to help a friend who owned a successful restaurant in Atlanta’s Virginia-Highlands neighborhood. That was 24 years ago. Since then Bob Wagner has become friend and bean-counter extraordinaire to Atlanta restaurant operators. His company, NetFinancials currently handles accounting and taxes for about 200 restaurants in 6 states and publishes a quarterly survey on the local market.
Jonathan is the editor of the Restaurant Finance Monitor a monthly newsletter that offers unique opinion and analysis on the restaurant industry, delivered to some of the most influential movers and shakers in foodservice and the editor of Franchise Times, a monthly glossy publication devoted to the franchise sector. In addition, Jonathan writes an award winning daily blog at restfinance.com