How Two Foodies Bought a Restaurant and Found Success Ep 84
My favorite podcast episodes are those with restaurant owners who have transformed their restaurants and their lives. The transformation these restaurant owners made is going to blow you away. Joshua Powell and Joseph Vericella are owners of Clay’s Cafe in Hebron, Ohio. Clay opened its doors in 1934 and it has been a local staple for generations. Powell is a real estate agent turned investor, turned restaurant owner, who never thought he would own the restaurant he worked at as a kid. His partner, Vericella, has a long and successful career in hospitality. If you asked them both, they would probably tell you they are foodies at heart.
In this episode of my podcast, The Restaurant Prosperity Formula, Powell and Vericella share with us the challenges they faced taking over a restaurant that has long-standing traditions and long-term employees, and the change they made that gave them their lives back and exploded their profitability. Through this episode you’ll see the growth in their confidence and assertiveness as restaurant owners, which allowed them to make necessary changes in their business, such as dealing with toxic employees and identifying red flags in their operations.
Tune into this episode to hear from Powell and Vericella directly about:
- The couple's journey from being employees at a cafe to becoming restaurant owners.
- The initial challenges and demands of owning and operating the restaurant, including the expectation that owners must be present at all times and the lack of proper systems and documentation.
- The realization of the importance of establishing efficient systems and processes for training and running the restaurant, especially after the departure of the previous general manager, which prompted them to seek assistance in improving their operations.
- The decision to join a group coaching program and the initial motivation for seeking help, including the desire to improve the quality of life and take the business to the next level.
- The realization of the importance of establishing efficient systems and processes for cost control, including monitoring food costs and achieving a higher profit margin.
- The importance of getting the staff on board with the idea that they don't need to be at the restaurant constantly and focusing on macro-managing the business.
- The significance of effective communication and technology in managing the restaurant.
- The positive impact of increasing employee wages and creating a positive work culture.
- The concept of a "freedom mindset" in restaurant ownership, which involves viewing the restaurant as an asset that should grow on its own rather than a constant source of stress and attention.
- The value of having a supportive community that shares knowledge and experiences is highly beneficial for restaurant owners looking to make positive changes in their businesses.