Focusing on the real estate aspects of the restaurant business, we sometimes get caught up in the ‘mechanics’ and forget about the ‘sizzle’. This is seldom more apparent than when you’re making ‘small talk’ at some non-business function, like a wedding, a neighbor’s backyard barbeque or an evening with the in-laws. Unlike conventions where everybody has a common purpose, these non-industry gatherings can often be plagued by ‘pregnant pauses’, according to the urban dictionary, the first cousin of awkward silences.

It’s those first few hours when everybody is testing the waters, cautiously exploring the interests of the other guests. Actually, we have it much better than say, an entomologist or polysomnographic technologists (look it up).  As soon as you mention shopping centers and restaurant, suddenly everybody is an expert. And quite often it’s when many of us recognize the limits of our knowledge.

While everybody is talking menu, service and price, etc., our thoughts are square footage and expansion plans. Sadly, it’s a trap that we all fall into and in more than a few cases it can be something of a scam and we are the target victims.

I can’t count the number of times over the years that I’ve heard about ‘this’ new restaurant and ‘that’ new concept. They start off with fireworks and fanfare and just as quickly they disappear. Unfortunately, in between that initial excitement and the sudden exodus, there have been a lot of money spent,  leases signed, franchises sold, construction disruptions, hirings, firings, etc. In the BI-days (that’s Before the Internet), the industry rumor mill would often carry reports of these hot new concepts.  Today, it’s the internet that ‘gives legs’ to so many of unproven ideas. Being real estate professionals first and in this case, restaurant experts a distant second, we can get caught up in the race to be the first to have this hot new concept in our mall.  We often ignore the warning signs, the same criteria that we require of the long established concepts. We become a victim of nothing more than boisterous promotions, empty promises and an aggressive social media campaign……………Been there, done that, got the t-shirt, don’t want to do it again.

Success is based on giving the customer want he/she wants, even though they often don’t know what they want. Agreed, when it comes to restaurants and foodservice, ‘same-old-same-old’ only satisfies a few. ‘Exciting’ and ‘New’ are words that attract everybody. To sent your property above and satisfy your clientele, sometimes we have to mix a riverboat gambler’s gut and an accountant’s mind.

We must recognize that while these new ‘flavor of the week’ concepts may push all our ‘hot buttons’ or satisfy the ‘mechanics’, call that appearing to ready to sign a lease, appearing to be well financed, appearing to be knowledgeable, etc.,  we must look a little deeper. Check out the ‘sizzle’.  Is it really ‘new’ or is it a fad or trend that might not last as long as the lease term.  Is it a restaurant that you or your family would frequent?  Better still, is it a concept that the experts, the guests at the neighbor’s backyard barbeque rave about?

Just keep the old adage in the back of your mind. If it looks to be too good to be true, take a closer look…………WP