Running a Profitable Restaurant Is Not Easy. But Coach Chip Klose Has a Plan for You. Author and restaurant coach Chip Klose discusses his method for making 20% profit in the restaurant business.
Key Takeaways
- Profit is Not a Dirty Word: Chip Klose is in the business of helping restaurants think in terms of the unfathomable 20% profit margin. For him, working more isn’t necessarily what should be celebrated. Instead, he views being a more profitable business that takes care of its employees as an opportunity to enhance the experience of all involved.
- Social Media Alone is NOT a Marketing Plan: Chip Klose wrote The Restaurant Marketing Mindset book with the idea of producing evergreen content, as opposed to getting into the tactical side of marketing. He understands that the landscape of marketing is ever-changing, and speaking on specific execution would put a limit on the longevity of the book’s effectiveness.
- The Marketing Triangle: In his book, "The Restaurant Marketing Mindset," and to his Mastermind groups, Chip Klose preaches The Marketing Triangle. The triangle includes attraction, retention, and evangelism. Essentially, the lifeblood of a restaurant’s marketing plan is how to get customers, how to keep customers, and how to get customers to convince other people to become customers.
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Chip Klose wants you to work smarter, not harder.
The restaurant consultant and host of the Restaurant Strategy podcast is on a mission to redefine success in the hospitality industry. He does this by sharing actionable plans with mastermind clients to help them grow, while also helping them challenge the notion that success should be measured by grueling work hours.
He champions the idea of achieving — and sustaining — an unprecedented 20 percent profit margin for businesses while taking care of their employees and enhancing the overall restaurant experience.
"We don't have to be there at our restaurant all the time to be respected," the founder of Chip Klose Creative shared with Restaurant Influencers show host Shawn Walchef of Cali BBQ Media.
"They will respect you if you provide a really great place for them to provide for their families. You provide a really great meal for them. You don't have to be there."
In his book, The Restaurant Marketing Mindset, Chip Klose offers invaluable insights into marketing that stand the test of time. He emphasizes that modern marketing is not limited to current trends like social media.
Instead, Klose encourages his audience to adopt a mindset that transcends always-changing platforms and focuses on foundational principles.
One such principle is "The Marketing Triangle," which Klose preaches both in his writing and to his Mastermind groups. This triangle encompasses three parts: attraction, retention, and evangelism.
Klose says that these essential elements form the cornerstone of a restaurant's marketing strategy, guiding how to acquire customers, keep them coming back, and encourage them to spread the word.
"The Triangle principle basically says there are only three things you need to focus on to successfully market your restaurant. The three sides of the triangle are attraction, retention, and evangelism." explains Klose.
He works with mastermind groups to help them approach their business in ways that encourage success without sacrificing the well-being of their teams. Profitability and integrity can go hand-in-hand.
In a world where marketing tactics continually evolve, Chip Klose's emphasis on enduring marketing principles, combined with his vision for restaurant profitability and employee care, makes him an enduring voice in the hospitality industry.
"You've got to build a profitable business, and I want us all to be thinking in those terms. And it's not a dirty word. Profit is not a dirty word."
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