Here's something: You know Michelin Stars? Like the things that tell you if a restaurant is fancy or not? Ever wonder why the tire company logo is on there? Here's why. It's a good story.pic.twitter.com/peVBMH5ID8
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By 1950 the French edition gave 38 restaurant stars. The first Michelin Guide to Italy was published in 1956. It awarded no stars in the first edition. In 1974, the first guide to Britain since 1931 was published. Twenty-five stars were awarded
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How do they come up with the stars? Michelin has anonymous reviewers. They do not identify themselves, and their meals and expenses are paid for by Michelin, never by a restaurant being reviewed.
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The stars stand for: 1 star : "A very good restaurant in its category" 2 stars : "Excellent cooking, worth a detour" 3 stars: "Exceptional cuisine, worth a special journey" See how it's car related?
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The Michelin tire company still makes the guide. Its paid with tire profits. But also different governments pay to host Michelin reviewers in their country in hopes of getting reviewed. Obviously, this business model can be tricky. But they've done a great job of staying legit
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These types of business models fascinate me: reviewing things. Other examples are JD Power and Gartner. On Trends (http://trends.co ) we'll be discussing this business model. We'll break down how it works so you can make one for your industry
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Let me know if you want more stuff like this and which industries we should cover!
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