Business as Flat as a Pancake?
Not if you sell pancakes!
I recently visited a friend’s newly opened pancake shop and business was flat.
Flat-out busy, that is. The place was humming and as I sat there, relaxed in the heady atmosphere of bustling excitement, I pondered this businesses’ apparent easy success.
Undoubtedly, some of it was due to its newness, many of the customers were simply curious to see what was on offer. Some of it was due to its uniqueness, there are no pancake shops for miles around and never have been. Some of it was due to the innovative menu and some was due to the stunning interior design. Some of it was due to the inexpensive dishes and at least a bit of it was due to the tropical downpour preventing patrons from leaving!
My friend’s Uncle is the Master Chef and the creative thinking behind the menu. My friend’s sister is the person who designed the simple but stunning interior. Another couple of relatives put up some investment capital and all the nieces were busy folding up the cardboard boxes for the take-out customers they were expecting later in the day.
The pancakes are unusual. The chef obviously swirls the batter around a little in the hot pan before it has a chance to set and this produces a shallow lip. The pancakes are crispy and hold moist fillings without getting soggy. The menu has a mixture of sweet and savoury fillings and there is even a “pizza pancake”. The various blends of coffees and teas are interesting, tasty, but inexpensive.
Franchising? Oh there was talk of franchising alright. From several walk-in customers whom the business owners had not met before.
Our Uncle Master Chef was not thinking of franchising on that day. He was out weaving in amongst the tables, observing his customers closely, asking for comments, explaining his theories of taste harmony and revelling in the success of the moment.
But what about franchising? There will be plenty of talk about franchising the business model in the coming weeks. With that novel menu, that gorgeous interior and that sparkling display kitchen, this resourceful and talented family may have put together a winning franchise concept.
Wasn’t it risky doing it in this economy? Perhaps, but the current crisis also helped in a way. The marvelous location with both indoor and outdoor seating and car parking nearby was available at less than half the rent the retaurant that was there before was paying. And the family members with the funds to invest, isn’t it risky investing in something new right at the moment? Well, would you put your money in a bank, insurance company, mutual funds or the bloody stock market?
Nor would they.
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