473: Three key plans you need when opening a restaurant with Doug Radkey

In this episode with  Doug Radkey, we discuss: 

• Why it is so important to love the work you do, ESPECIALLY in this industry. 
• How owning a restaurant goes far beyond a love for to cooking.   
• The importance of networking when you're young.
• Getting outside your comfort zone. 
• Sacrificing social life to get ahead in your career. 
• Staying organized and living your life off a list of to dos. 
• The 3 key plans you need when opening a restaurant.
  • Feasibility Plan.
  • Concept Develop Plan.
  • Business Plan.

Doug Radkey is the owner and founder of Key Restaurant Group, a restaurant/bar start-up development agency in Canada. With 17 years of experience, Radkey is a leading voice in the development of feasibility studies, unique concepts, business plans, marketing plans, memorable menus, guest experiences, and financial management systems.

 

Show notes…

Favorite Success Quote or Mantra.

Whatever you do, make sure you wake up excited to go to work ever day. If you're not, find new work.  

Resources mention

getflow.com

keyrestaurantgroup.com/solutions/

 

Today's Sponsor

Sourcery allows you to streamline and digitize your entire Accounts Payable operation. Digital invoicing, backed with human verification, will save you countless hours of work and increase AP accuracy. Say goodbye to your file cabinets and enter the digital world.

Kabbage. Apply for up to 250,000 of funding through Kabbage, and you'll get a $50 e-gift card when you quality. Get started!

Knowledge bombs

1. Which "it factor" habit, trait, or characteristic you believe most contributes to your success?

   • Patience

2. What is your biggest weakness?

   • Being too patient. 

3. What's one question you ask or thing you look for during an interview?

   • Ask, "What are three things you use a pencil for?"

4. What's a current challenge? How are you dealing with it?

   • Going through the technology options out there. 

5. Share one code of conduct or behavior you teach your team.

   • Be creative.
   • Think outside the box. 

6. What is one uncommon standard of service you teach your staff?

   • Empower your team make decisions on the spot. 

7. What's one book we must read to become a better person or restaurant owner?
   GET THIS BOOK FOR FREE AT AUDIBLE.COM 

   • Your Restaurant Sucks!: Embrace The Suck. Unleash Your Restaurant. Become Outstanding

8. Share an online resource or tool.

   • Typsy
   • FoodableTV.com

9. What's one piece of technology you've adopted in your restaurant and how has it influence operations?

   1. Toast
   2. Touch Bistro

10. If you got the news that you'd be leaving this world tomorrow and all memories of you, your work, and your restaurants would be lost with your departure with the exception of 3 pieces of wisdom you could leave behind for the good of humanity, what would they be?

    1. Hire the person. Not their experience
    2. Maximize every moment
    3. Be innovative. 

Contact Info

Keyrestaurantgroup.com

@KeyRestaurants

 

Thanks for Listening!

Thanks so much for joining today! Have some feedback you’d like to share? Leave a note in the comment section below!

If you enjoyed this episode, please share it using the social media buttons you see at the top of the post.

Also, please leave an honest review for the Restaurant Unstoppable Podcast on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and I read each and every one of them.

And finally, don’t forget to subscribe to the show on iTunes to get automatic updates.

Huge thanks to Doug Radkey for joining me for another awesome episode. Until next time!

 

Restaurant Unstoppable is a free podcast. One of the ways I'm able to make it free is by earning a commission when sharing certain products with you. I've made it a core value to only share tools, resources, and services my guest mentors have recommend, first. If you're finding value in my podcast, please use my links!