Trial & Error
A new approach to building and scaling.
From extensive planning and large loans to a down-and-dirty, experimental approach, Trial and Error is about building, testing, and refining new ideas until they take off.
Whether they’ve grown up in restaurants or are entirely new to the industry, operators have seen hard times and are ready to flip the business model on its head into something that better serves them.
Fed up with the high cost, high-risk investments, operators are now taking a more financially conservative approach to new concepts. Before jumping in to combat rising operations costs, they’ve adopted the prototype mindset of testing, learning, building, and refining. For example, supply chain challenges spark iteration with new products. And labor challenges mean the owner acts like a start-up with a small team wearing the hat of many different roles. Simply put: these operators figure out how to do more with less.
Say goodbye to prohibitively expensive brick-and-mortars and those impossibly thin margins too.
Au revoir! Adios! Arrivederci! Auf Wiedersehen!
Post-pandemic conditions have leveled the playing field, creating an environment where extensive industry experience is no longer required. What is necessary is an entrepreneurial spirit, a willingness to experiment, and ultimately the desire to rethink the traditional model of what a restaurant “should be.”
Now is the time to do your research, trust your gut, and take a risk that’ll pay off.
Take a closer look at your ingredients. Can you do without? Can you make it a star?
Do you run a food truck or a virtual brand? Then you’re using the Trial & Error mindset! You might also prove a concept with a low upfront cost, verifying it works before seeking investors. Would you consider sharing—and selling—your learnings by offering a restaurant business workshop or personalized consulting? Send us a note!
You’ll find this operator running food trucks or operating behind virtual brands, proofing a concept with a low upfront cost, and verifying it works before seeking investors. Expect this class of operators to share—and sell—their learnings, offering restaurant business workshops and personalized consulting that will solidify this way of thinking for years to come.
Are you selling packaged products as a new revenue stream? Reach out to us at Hereheremarket.com.
Both the behemoth chain and the small up-and-comer tested a virtual presence to grow their business, and the low-risk proved great reward.
Chili’s started a virtual brand during the pandemic to boost declining sales for their parent company Brinker International. What started as a long shot at trying something new has paid off and now seems to have become an integral part of their business, generating sales at a rate of $150M per year in August of 2020. They are now considering opening brick and mortar locations of this current delivery-only concept.
The Slutty Vegan is an Atlanta-based vegan burger joint that followed the quintessential prototype and iterate cycle. They started as an Instagram brand in 2018, grew through a food truck, now they have three thriving brick and mortar locations with lines around the block, and are looking to expand nationally.
Back to the mindset
“Neither of us have ever worked before in the restaurant industry, so that allowed us to try things without any pressures of how things should be done.”
– Cristina, a virtual restaurant operator in Chicago
Next (Gen) Mindset
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01 Trial & Error
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