How a Chicago Restaurant Has Stayed Open For Nearly Three Decades
Chicago restaurateur and University of Chicago Booth alumnus Richard Mott joins Joe Weisenthal and Tracy Alloway to break down the brutal operational economics of the restaurant industry. Mott explains why independent fine dining produces negative aggregate returns, how younger generations drinking less wine is destroying high-margin restaurant revenue, and how his incubator, Spark Shared Kitchen, lowers capital barriers for emerging food entrepreneurs.
- At Chicago restaurant North Pond, beverage sales held steady between 33% and 34% of total revenue for 28 years before dropping to 24% in just 18 months. Read →
- Ghost kitchens optimize delivery for existing brands like Popeyes, while shared kitchens act as production facilities for caterers, bakers, and packaged food makers. Read →
- Independent fine dining as an entire sector yields a negative aggregate financial return. Read →