Good ideas never die - by Dennis Serpone

Being a restaurant specialist affords me the opportunity to not only broker businesses but to differentiate which food operations will be successful and which will struggle and eventually fail. 

There are hundreds of thousands of food and beverage businesses in every country on the planet. When the economies are strong, food and beverage businesses thrive. New ideas spawn new variations of proven concepts. Those determined to be successful often find themselves restructured into a franchise which ultimately may grow into a chain. With the right ingredients, blended with perfect timing, and seasoned management, a concept chain could be your next McDonald’s or Pizza Hut.

From the infancy of an idea, infused with capital to grow, and tempered with the wisdom of experience, the food and beverage industry grows around the world.

Having sold and consulted with owners of thousands of restaurants of every size and ilk in 46 years, it has become obvious that success boils down to a couple of key factors. A concept has to be appropriate for the largest segment of the population, it has to be easy to manage, and has to have some form of competitive advantage. Back in the 70s, right out of grad school, an opportunity to buy a small non-descript pub was thrown at my feet. The location met the important ingredients of excellent visibility, accessibility and sufficient parking. While going to college I worked in sub & pizza shops and weekends learned to be a bartender. With this pub opportunity, I fused the two concepts into the first SUB ‘N’ PUB in West Yarmouth, Cape Cod. A small operation that created a huge following. In the next couple of years, larger and larger units were built in West Dennis and West Chatham. Success was immediate. In 1980, I sold the chain and founded the first restaurant brokerage and consultancy in the country.

After 50+ years, the concept of a local, inexpensive pub that specializes in popular sandwiches and popular drink combinations i.e. Irish pubs that dotted every village in Ireland, is being revived on the South Shore nestled in an area of thousands of apartments and a huge office park. Family friendly and a small bar supporting local entertainers on weekends are sure to draw local customers. Like the Phoenix rising from the ashes, the all new SUB ‘N’ PUB is the beginning of a new chain.

Dennis Serpone is founder of the National Restaurant Exchange. Wakefield, Mass