It’s easier to sell 100 slices of pizza to one customer than one slice to 100 customers. This valuable lesson is just one element of Nick Panos’ highly successful franchise playbook.
As Vice-President of Panos Restaurant Group, one of the company’s main focus points is operating its highly successful Mellow Mushroom restaurant chain.
And if there’s one valuable lesson Nick is keen to share, it’s that catering is a game changer. It provides your business with a b2b revenue stream that, crucially, doesn’t cut into your peak operating hours but utilizes unused capacity.
Nick joins The Wolf talking about pseudo recurring revenue streams you can effectively build into your restaurant business. He also shares how positioning your business as the restaurant of choice for annual conferences should be at the top of your to-do list.
You’ll learn why playing long term games with long term people is the key to recurring revenue. And hear how to pick a franchise brand with longevity, plus why your long term success depends on you choosing great employees and taking care of them.
Monetizing franchises is a passion Nick shares with our sponsor FranShares, who are making it easier to build, manage and grow your franchise empire from as little as $500. Find out more at: http://www.franshares.com (franshares.com)
Follow Nick on LinkedIn:https://www.linkedin.com/in/nicolaospanos ( linkedin.com/in/nicolaospanos)
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