Make 2024 the best financial year of your life. Sign up with our sponsor Nextiva here: trynextiva.com/upflip
In this episode, we dive into the world of culinary delights with Jim Rowe, a serial restaurateur who turned the art of making wings into a flourishing empire. Jim embarked on a journey of entrepreneurship at the age of 24, selling everything from tools to diamonds to windows, before finding his true calling in the restaurant industry, a passion ignited during his childhood days spent in restaurants where his mother worked.
Jim is the mastermind behind Wing Central, a cornerstone of the WC Restaurant Group with a stellar reputation for mouthwatering wings, evidenced by hundreds of 5-star reviews. Despite minimal advertising, Wing Central has soared, with innovative strategies like their gift card continuity program boosting sales by an impressive 17%.
From a single establishment, Jim has expanded his culinary kingdom to include a food truck and a cozy coffee shop, collectively amassing over $50M in sales. This interview sheds light on his journey from scraping by with odd jobs to building a restaurant sales empire, all without prior experience or significant capital.
Listeners will gain invaluable insights as Jim reveals the one entrepreneurship skill that single-handedly helped him build his empire from scratch. He also unveils the lucrative side hustles that paved his path to financial success. Notably, Jim’s prowess in restaurant marketing won him a Porsche Boxster, outshining his peers and boosting his sales by $900K in a single year-a story he eagerly shares.
Join us to uncover the secrets of building a successful restaurant business, straight from the culinary titan himself, Jim Rowe. Whether you're a seasoned restaurateur or dreaming of your first food venture, this episode is a goldmine of wisdom and inspiration. Don’t miss out on his expert advice.
If you’re looking for other uniquely delicious business ideas, check out our past episodes:
The New King of Fried Chicken?! ($1,000 Startup): • The New King of Fried ...
How I Turned My Last $5 to $10,000,000: • How I Turned My Last $...
Resources:
www.upflip.com/academy - Start, Build, or Grow Your Business
wingcentral.net/ - Find Out More About Jim's Restaurant Business
Timestamps:
00:00 - START
01:04 - Meeting Jim
02:10 - Being laid off
02:58 - Revenue
03:36 - Business during COVID
05:41 - Wing Central location
07:14 - Coffee shop tour
08:23 - Side hustles
10:38 - Rule of Ten
12:29 - Fan blitz
14:16 - Dealing with inflation
16:23 - Biggest challenges
17:56 - Mastermind group
19:29 - Profit margins
21:18 - Marketing for less
22:11 - Starting a restaurant business
23:29 - Marketing trick
24:41 - Email list
26:20 - Loyalty programs
28:21 - Restaurant profit constraints
30:02 - Sales skills
30:41 - Spending money
31:48 - Beer 101 Club
32:30 - Single-parent household upbringing
33:33 - Was The Money Worth It?
34:17 - Millionaire
35:02 - Customer service and feedback
36:09 - Misconception
36:42 - Franchising vs. Starting your own
37:50 - Customer story
38:48 - Business books
39:28 - Outro
#restaurantbusiness #restaurant #howtoopenarestaurant
25 июл 2024
