From financial markets to restaurants. And back.
We spent over 25 years in the financial services industry to randomly find out that applying numbers and data analysis to running a restaurant is actually profitable.
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>>>>
Moved around quite a bit
Born and raised in Italy, my wife and I randomly met in London (UK) where we had separately moved to pursue careers in investment banking and financial services. After spending many years there, we first relocated to Dubai and then to other countries in that interesting area. In total, we accumulated about 15 years in the Arabian Gulf: my latest role was Managing Director and Group Head of Treasury Sales in one of the largest banks in the region.
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2019
Once Italian, always Italian
At some point along the way, though, the call from the food industry started to resonate loud: through some odd circumstances (and just for fun) we decided to invest in partnership in a restaurant located in a prime area around Sarasota, Florida. Our remote contribution was – not surprisingly – financial management and control. But we started to learn the business.
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2021
Time for a change
In 2021, we moved back to Europe for family reasons: we hardly resisted one year in the cold and quickly decided to put our corporate careers on hold, at least temporarily (yeah, sure…), and move to Florida to be “hands-on” on our business. Which, in the meantime, was performing just ok.
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2022
We thought we knew it all
Despite being involved in our restaurant since the very beginning, we quickly realized that the restaurant business is a very tough one, with challenges coming at you from all corners: clients, cost, staff, maintenance, suppliers, regulation, staff again and what not. Sorry: did I already mention staff…? While trying to learn as we progressed, though, we figured that one cannot really become an “expert” overnight. In fact, in an industry hit by different challenges on a regular basis, we realized that – sure – experience is valuable but facts, numbers and methodology are arguably more important. In fact, experience can at times turn (either consciously or unconsciously) into the inability to embrace change: some refer to it as “cognitive bias”.
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2023
The idea
So, we started applying basic data analysis to virtually every aspect of the restaurant to redefine our entire business model. This is how the “The Profitable Kitchen” project came about: many mistakes, many lessons learned… and systematic analysis. We tested our approach on our own business - as they say, we practiced what we preached - and the change in performance has been astounding. And not just financially but also - equally important - in the overall process organization. Let's have a chat...
You don’t have to trust us, you can test us
Contact us for a free initial consultation and find out how our approach can help improve your profitability.