Today in "Conversations with old economy entrepreneurs who have forgotten more than I'll ever know": why a hip new restauraunt has a stall.
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Replying to @patio11
So there's this really good BBQ place that opened recently in Tokyo. They recently opened a stall which sells e.g. brisket sandwich for $8.
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Replying to @patio11
When passing it I remarked to my wife that that was genius because they have to pay rent either way and must have good margins on takeout.
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Replying to @patio11
A Japanese guy in his late thirties, who I retrospectively peg as the manager, says (loose translation) "Bro, are you in the industry?"
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Replying to @patio11
"No; I used to run a company but not in food services." "OK so check it: a sandwich inside is 1400 yen but I can't ask for that out here."
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Replying to @patio11
"I make 50 of these in the morning on a COGS of about 30k yen; the margin on 800 yen barely covers salary of the person selling them."
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Replying to @patio11
"Oh, gotcha. So why do it?" "So I've got 70 tables and like every other restauraunt in Tokyo I need to turn them twice every Friday night."
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Replying to @patio11
"You're always packed when we go in there." "Yeah bro any place with good food in Tokyo is packed for six months and then the fight starts."
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Replying to @patio11
"Two by 70 is 140; figure on 20 Americans like yourself, 10 [foreign] guests, and 10 business dinners. That leaves me with a hundred turns."
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Replying to @patio11
"Nobody's eating BBQ more than once a month so I need to convince 400 Japanese folks in the neighborhood that they want BBQ this Friday."
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"They're not gonna just say 'Hmm BBQ never had that before, let me take a chance' on a first date or a business meeting."
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Replying to @patio11
"So every Saturday and Sunday I put out 50 sandwiches into folks hands and maybe somebody remembers 'Oh yeah BBQ is delicious' come Friday."
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