Philip Romano, Restaurant Artist

In 2010, Joe Palladino's phone rang. On the other end was Philip Romano, his partner in three Dallas restaurants, asking him to come out to the undeveloped 65-acre lot Romano co-owned in West Dallas, Texas. The restaurateur said he had something to show his friend. Palladino arrived to find Romano excitedly sketching out a development plan -- a row of restaurants side-by-side near the Trinity River that bisects Dallas.

Palladino, a fellow restaurateur, was astonished at how quickly the plan evolved before his eyes. "He's like a mad scientist, just putting stuff together," he says of watching his partner of 15 years work. What Romano was inventing on the spot was a restaurant incubator, Trinity Groves, which began operating in 2012 and so far has two restaurants serving customers, with more expected to open this year. For the remaining 20 or so spots in the incubator, the founders have chosen 12 more restaurant concepts from about 270 applications.

Phil Romano, 73, is many things: restaurateur, real-estate developer, angel investor and painter.
Phil Romano, 73, is many things: restaurateur, real-estate developer, angel investor and painter.
All images courtesy of West Dallas Investments

Over more than four decades, Romano has launched dozens of restaurant concepts, including national chains such as Fuddruckers and Romano's Macaroni Grill. "[He] is among a small group of restaurateurs that elevated restaurant creation to a form of art," says Robin Lee Allen, executive editor of Nation's Restaurant News, the industry's top trade publication.

Long famed for his creativity in the industry, Romano is now, with his incubator, becoming a catalyst for the inventions of a new generation of restaurateurs.

At 73, Romano is vigorous, signs of the Army boxer and college karate instructor he was still visible in his large hands and broad shoulders. He lifts weights regularly and runs in the hills near his Dallas home. "The hardest thing about getting old is acting your age," he says. He is still hungry.

"Even at his age, he never stops absorbing and learning," says Palladino. Romano is known for sketching out his restaurant ideas using pen and paper, revising them often, ever conscious of what customers will see when they walk in the door. "He's really good at mapping out a concept and understanding exactly how it needs to look, how it needs to be set up -- all the way from the bathrooms to the front entrance," Palladino says.

Related: The Young Founder Behind a $100 Million Luxury Travel Business

Hofmann Hots, a sort of Fuddruckers for hot dogs, was the second restaurant launched by Romano's incubator. Each restaurant gets 2,500 square feet of interior, plus a patio, and up to $500,000 of startup capital.
Hofmann Hots, a sort of Fuddruckers for hot dogs, was the second restaurant launched by Romano's incubator. Each restaurant gets 2,500 square feet of interior, plus a patio, and up to $500,000 of startup capital.

Sometimes Romano finds a location first and that gets him thinking about what kind of restaurant would fit there. Sometimes it's the other way around. "His view of these things comes to him as an image. He's very visual," says Stuart Fitts, a fellow investor in the Trinity Groves development. If you tried to explain a restaurant concept verbally to Romano, it might not register, Fitts explains, but if you gave him "a drawn-out illustration of what it would look like, he would get it instantly." The average gestation period from initial concept to grand opening, is about six months, Romano says.

One of his early successes, Fuddruckers, operates more than 190 locations across North America, including five in Puerto Rico. Founded in 1979, the fast-casual franchise was the precursor to the "new burger" craze that now includes Shake Shack, Five Guys, In-N-Out Burger and other popular chains, Allen says. Romano sold the chain in 1988 to found Romano's Macaroni Grill, a casual-dining Italian restaurant. Hospitality company Brinker International bought the franchise rights to Macaroni Grill in 1989 and has grown the brand to more than 200 locations worldwide.

"The industry regards him as one of the great creators," says Allen, noting that his success is enviable in an industry that many dream of entering but in which new ventures often fail.

On the walls of the West Dallas Investments office hangs a vision of the future of Trinity Groves.
On the walls of the West Dallas Investments office hangs a vision of the future of Trinity Groves.

Although it's often said that 90 percent of new restaurants close within the first year, a 2005 study published in the Cornell Hotel and Restaurant Administration Quarterly found that the reality is not so grim. The researchers concluded instead that 26 percent of restaurants close or change ownership within the first year, and that 60 percent do so within the first three years. In a 2011 follow-up publication, the lead researcher affirmed his earlier findings.

But failure, if you learn from it, can to lead to success. Romano says he has learned plenty from concepts that tanked. Among them was a healthy-eating hibachi grill called Styx that failed to take off in San Antonio in the mid-1980s. Customers loved the food, but it was too expensive for the average pocketbook in the area. Worse yet, too few people there were invested enough in the concept of healthy eating to sustain the concept. He closed Styx, chagrined, he says, by his "piss-poor marketing," his ignorance of the people he was serving.

In the late 1990s, he launched a location of his EatZi's concept in the basement of the Macy's flagship department store in Manhattan. The hybrid supermarket-restaurant was a poor culture fit. New Yorkers were rarely willing to bring restaurant food onto buses and subway trains, which was fatal to the EatZi's concept, which depends on take-out purchases. "I can't fight New York. I can't fight the culture," he says he realized. After six months, he shut it down, though EatZi's lives on today with three locations in Dallas.

Related: Fresh Off the Boat's Eddie Huang on Keeping It Real

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Brian Patrick Eha is a freelance journalist and former assistant editor at Entrepreneur.com. He is writing a book about the global phenomenon of Bitcoin for Portfolio, an imprint of Penguin Random House. It will be published in 2015.

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