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Thread: Jamie Oliver throwing in his cooks apron....

  1. #1
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    Jamie Oliver throwing in his cooks apron....

    https://www.bbc.com/news/business-48352026

    https://kurier.at/genuss/masseverwal...ants/400501021

    a couple of millions he is in hock. his private wealth is thought 175 Million ... And no bank will give him a credit? so, close all his places, some 1200 workers are looking now for a new job..or will Jamie just carry on the restaurants, a different, unknown, director, a new name, and the show goes on... No more fancy shows, no more fancy dishes. But lets hope also more then -meat and 2 veggies-....
    There is no greater treasure then pleasure....

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    Too many cooks spoilt the broth?
    Если враг в пределах досягаемости, то и вы тоже!


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    Quote Originally Posted by TolkoRaz View Post
    Too many cooks spoilt the broth?
    no, he is blaming it on others. to high wages, to high overheads, to high this one and that one. His ideas were not bad per se. But you can not force people to eat what they do not want. and kids for sure not..telling them -you eat it because Broccoli is good for you- for sure will not do the trick. it needs more then that.
    There is no greater treasure then pleasure....

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    A flash in the pan?
    If you're going to be dumb, you better be tough...

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  6. #5
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    Quote Originally Posted by Benedikt View Post
    no, he is blaming it on others. to high wages, to high overheads, to high this one and that one. His ideas were not bad per se. But you can not force people to eat what they do not want. and kids for sure not..telling them -you eat it because Broccoli is good for you- for sure will not do the trick. it needs more then that.
    I don't know if I'm right on this, but I approach from the angle of 'is this business structure common?'

    Or in this case, what they call 'mid-market dining' - basically a moderately expensive restaurant, well above the fast-casual or chain-type or pub-type market (it's not olive garden or whatever), and it's well below the 'star Michelin chef' high-end international.

    In the first segment, you see fairly large companies, in the latter, it's considered a big deal if there are a dozen restaurants, and they're usually spread out over a few high-end 'world cities'.

    In the mid-range nice restaurant area? It's dominated by lots of very small companies, many of them basically just family restaurants that have stepped up their game. The number of companies that have successfully made 'chains' out of it is very small.

    Why? It's very hard work, the market not deep, lots of competition, no advantage to scale (since these restaurants are in the segment where the produce must be fresh and high quality, no bulk buying advantage for a company spread out geographically), and apart from standard offerings (burgers, pasta) menus need to be updated frequently or quickly lose mind share (unless they've got some very dedicated clientele), etc. Plus you're often competing with family businesses - people work under conditions/remuneration that don't fully fit labour standards - and in many big markets, vanity projects or flash-in-the-pan that open, work well for six months, and disappear - basically you're competing with others prepared to lose a fair bit of money if they had to operate on same conditions.

    Your restaurants have to be managed by the best, and the best often want to work in their own places or have part-ownership.

    Franchising? Works fine for standard recipes, not so much where the management on the ground has to make it.

    Customers? In that segment, they want something unique quite often and the brand doesn't work for mid-market (if they want a star chef, they'll go to the high end places); if they want something fashionable or cool or new or unique, they'll try the new place.

    So I think it was just a bad business idea overall.

    With some exceptions: the international franchise idea on a quasi-franchise basis was a good idea. Get the locals to risk their money, the name has more cachet than in home market, no direct liability/operating expense, basically license the name and a bit of monitoring so they don't tarnish it.

    I note the ones in St Pete are supposedly doing okay, and it's Ginza Project people running it (Gizna possibly an exception to my rule above).

    The other quasi-exception: I think he might have been able to make this work if they'd concentrated on the in-hotel market. Less asset investment (hotel needs to have the restaurant space anyway), less risk. There, you do have some potential for scale, customers who are willing to pay a bit more, a quasi-partner in the hotel chain/management company, name recognition carries a bit more weight (travellers would welcome the recognized name), for some hotels would be a step up from their in-house, and they're equally committed to e.g. safety and cleanliness (in principle). More possibility of international expansion as well. (Plus, always nice, some of the hotel chains would possibly be interested in buying at some point in future)

    Anyway, I don't see a big deal. A not-very-good-business idea has gone under, nothing of interest much save that it's a household name involved.

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    His goose is cooked!
    If you trust the government you obviously failed history class. " George Carlin"

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    Quote Originally Posted by Uncle Wally View Post
    His goose is cooked!
    well overcooked!
    There is no greater treasure then pleasure....

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