This week I sit down with Michael Ungaro, the CEO of San Pedro Fish Market, and one of the stars of Kings of Fi$h launching on Amazon Prime. San Pedro Fish Market is the largest family restaurant serving 2.5Million people each year and known for the World Famous Shrimp Tray. Now on their fourth generation this legacy restaurant this legacy restaurant empire garners Guinness World Record's,Top Seafood Honors, and 2nd most visited seaside attraction only to SeaWorld, and sells as much beer as Dodger Stadium.

Under Michael's leadership, San Pedro Fish Market has been recognized as one of the Top 10 most instagrammed restaurants in the USA with double digit sales growth since 2008 (excluding 2020) and is on track to top $40 million for 2022. Opened concepts in the neighboring cities of Rolling Hills Estates, Harbor City and on Alamitos Bay, Long Beach. And even created a line of retail products including ready to cook meals, spices and sauces based on the World Famous Shrimp Trays available in their restaurants.
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Email: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠kyle@four-turns.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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The recent bankruptcy of Red Lobster has sparked discussions about the risks associated with private equity and sale lease back deals. This conversation breaks down the financial issues of Red Lobster and the lessons it holds for independent restaurant owners. It also highlights the impact of private equity decisions and seafood supply chain controversies on the downfall of the brand.

Takeaways

• Understanding the risks associated with private equity and sale lease back deals
• Consideration of long-term effects of financial decisions
• Consultation with experts for complex financial transactions

Chapters

00:00 The Financial Issues of Red Lobster

05:06 Impact of Financial Decisions on Restaurant Businesses

06:31. Controversies in the Seafood Supply Chain

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Marqii

Want to learn more about Marqii? Check them out ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://marqii.com/schedule-a-demo⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and instantly level up your digital presence.

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Email: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠kyle@four-turns.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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Summary

The conversation focuses on scaling restaurant brands and provides tips and insights on what to consider and what to avoid. The speakers, Avi Gorin (CEO & Co-Founder of Marqii) and Sterling Douglas (CEO & Co-Founder of Chowly) share their experiences in helping restaurant groups scale their concepts. The main themes include the importance of data for investors and consumers, considerations for opening additional locations, the role of people in scaling a restaurant, the significance of brand consistency online, and the selection of a tech stack. The conversation provides insights and advice for restaurant owners looking to expand their businesses.

Chapters

02:50 Transitioning from Restaurant Owner to Business Owner

11:41 The Importance of Digital Consistency in Scaling

13:21 Balancing High Standards and Growth

21:35 Challenges and Strategies for Fundraising

22:03 The Role of Data in Restaurant Evaluation

24:01 Considerations for Opening Additional Locations

25:23 The Importance of People in Scaling a Restaurant

28:19 Achieving Brand Consistency Online

32:44 Selecting the Right Tech Stack for Restaurant Expansion

40:30 Prioritizing and Setting Goals for Restaurant Growth

Exclusive Partners

• • Want to learn more about Marqii? Check them out ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here,⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and instantly level up your digital presence.
  • Hate paying sales tax? Let DAVO do it for you, so you can pay on time, and sleep at night. Try ⁠⁠⁠⁠⁠⁠⁠⁠DAVO⁠⁠⁠⁠⁠⁠⁠⁠ for FREE!

  
  

  Connect with Closed Monday

  • Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@closedmondaypodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠
  • Email: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠kyle@four-turns.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

  Check out that TikTok on Birthday Party Invitations.

  Special Offers

  Take a screenshot of you listening to the show, and tag @closedmondaypodcast, and I'll send you a FREE Closed Monday t-shirt.

  
  

  Subscribe & Share

  If you found value in this episode, please subscribe and share it with your friends and network. Your support helps us bring you more actionable insights every week!