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The Restaurant Prosperity Formula
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The Restaurant Prosperity Formula

Author: David Scott Peters

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If you’re ready to stop being a prisoner in your restaurant and finally have the life you’ve been working for, you are in the right place. Podcast host David Scott Peters has been coaching restaurant owners since 2003 how to transform their restaurants and their lives by becoming the leader their restaurant requires for success. He has taught thousands of other restaurant owners how to do less and lead more, how to delegate and trust their teams, and use task-based systems to make it all work. The lessons he teaches and the solutions for the moment he offers are based on his Restaurant Prosperity Formula. To learn more about David and his formula, visit davidscottpeters.com or pick up a copy of his book, "The Restaurant Prosperity Formula: What Successful Restaurateurs Do."
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Four years after the pandemic, I’m working with restaurant owners who are still suffering whiplash and struggling to find a path forward for their restaurants. I don’t have to tell you, but it was an intense time. Restaurant owners went from a complete shutdown of their restaurants and sending employees to the unemployment office to the frantic offer of money from the government and the incentives offered to employees to work through the unknown challenges. These days restaurant owners are working through the long-term consequences of taking that money and how to run their restaurants in this new landscape. The bottom line is things changed after pandemic. Costs are up, staff have different expectations and restaurant owners don’t want to be prisoners to their restaurants. In this episode of my restaurant podcast, The Restaurant Prosperity Formula, I am talking about how it's time for every restaurant owner to embark on change or possibly get swallowed up by the shifting sands of industry change and financial stresses you’re facing as a restaurant operator today.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com
I recently had a coaching call with a restaurant owner whose business was struggling. He and his wife needed an outside perspective, and they turned to me to help them review their options. The call we had highlights the transformative power of resilience, strategic planning and the courage to embrace change. In this episode of my restaurant podcast, The Restaurant Prosperity Formula, learn more about what exactly was challenging their establishment, the discoveries we made and the next steps I recommended they take. The situation the restaurant owners are in isn’t uncommon but the resources they tapped are what make this situation stand apart. I’m confident they got the best counsel and insight from me and their fellow members, and I hope listeners can benefit as well.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com
As a restaurant owner, there are many things you have to do right to be successful. It really is a business of spinning many plates at once. One thing I’ve found in the most successful restaurant owners I know is how they approach their role as a leader and how their mindset makes all the difference. In this episode of my restaurant podcast, The Restaurant Prosperity Formula, I’m sharing 10 critical mindset questions that serve as reflections into how your leadership is shaping your team's environment. Reflecting on these questions and engaging with the answers can be a game-changer for restaurant owners. The goal is to create a culture where challenges are met with courage, feedback fuels growth, and every team member feels valued and empowered.
A successful restaurant is one that delivers on the promise to it guests. That's hot food hot, cold food cold, a clean safe work environment for your guests and employees, WOW customer service and providing an incredible product. That's what restaurant owners are put on this earth to do, right? To create memories. We have the pleasure and the privilege to create memories in people's lives. In this episode of my restaurant podcast, the Restaurant Prosperity Formula, I focus on Restaurant 101, exploring the alchemy of perfect meal temperatures, the sanctuary of our dining havens, the ballet of exemplary service, the craftsmanship behind an unforgettable product and the finesse of the now indispensable to-go experience. Join me to uncover the blueprint of systems, training and the art of hospitality that transform a simple meal into an incredible memory. You’ll learn how diligently applying systems, committing to continuous training, maintaining unwavering consistency and delivering soulful hospitality, you can create experiences that linger long after the last bite.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com
I tell restaurant owners all the time that their POS system is the most important piece of equipment they will ever purchase for their restaurant. The POS system is much more than a glorified cash register; it’s data central. It holds the key data you can use to change your business, prevent theft and make meaningful changes to your operations. In this episode of my podcast, The Restaurant Prosperity Formula, I review some of the most powerful and little-known reports your POS system has to offer. This includes four underutilized, yet essential, reports that are critical to harnessing the power of your POS system. With only the reports you have at your fingertips in your POS system, you will have the building blocks of informed decision-making so you can lead with confidence, and ensure efficiency, profitability and success in your restaurant. 🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com
There’s a little known and underutilized tool that can reduce a restaurant’s food cost by potentially 3% or more. All that is required is for a restaurant to gather some simple data and take a little action. How would you like to reduce your food cost by simply gathering data? Does this sound too good to be true? I promise you, it’s not. In this episode of my podcast, The Restaurant Prosperity Formula, I explain what kind of information you need to gather, where to get the information, what to do with it and what you can expect when you use it the way I explain. By the end of this lesson, you will be in a position to take action and put yourself down this path.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com
When it comes to following restaurant systems every day, restaurant owners are notorious for falling down on the job. They are just too busy in other areas and they lose sight of the daily routine things that are required to keep systems working properly. Besides, the job of a restaurant owner isn’t to be buried in the day to day; it’s to be strategic and to think bigger than daily tasks. If it’s not the restaurant owner, then who should it be? Restaurant owners must appoint someone who gets stuff done, who loves the restaurant and wants to support the owner. I call this person an implementer. In fact, to be part of my restaurant coaching program, you must have an implementer. In the program your implementer learns with you but implements and does the work. In this episode of my podcast, The Restaurant Prosperity Formula, I introduce you to Brandon Anderson, the implementer for the Original Black's Barbecue in New Braunfels, Texas, a high volume, 93-year-old, family-owned-and-operated barbecue business. With 12-plus years of restaurant experience working his way up from line employee, shift lead, and assistant manager to general manager, Anderson has experienced a lot in his restaurant life. He’s worked for several corporate restaurants until ultimately landing at Original Black’s Barbecue. The ownership team knew Anderson was the exact right person to be the implementer, and they were right. Listen to this episode to learn more about the impact of systems, the job of an implementer, and Anderson’s implementation journey, the challenges faced and lessons learned, and also what a great implementer looks like.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com
Jesi Cline is a restaurant owner who started her business as a bakery specializing in cupcakes and custom wedding cakes. While she found success, she was working endless hours to keep up with orders and had no time to be strategic with her business. When COVID hit, she needed to pivot and rebranded as Rosé Café, a fast casual breakfast, lunch and dessert cafe. And recently, she expanded her restaurant and doubled her square footage. With six years in business and eight years as a wife and mother, her life has been nothing short of busy. In this episode of my podcast, The Restaurant Prosperity Formula, Cline shares her journey from being burnt out on the food industry to being a happy, motivated restaurant owner who can see only a bright future ahead of her.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com 
What might be second nature to a seasoned chef, a manager or owner with decades of experience can be a revelation to someone just embarking on their restaurant journey. It's essential to remember that our industry, with its vast array of roles and responsibilities, doesn't have a universal baseline of “common sense.” In the restaurant industry, “common sense” is a relative term. For some veterans, certain practices and insights might seem obvious, but for others, these are the essential skills and knowledge that lay the groundwork for their future success. Each piece of advice, no matter how simple it may seem, can be a building block for someone's career. In this episode of my podcast, The Restaurant Prosperity Formula, I talk about why this diversity of experience and knowledge in our industry makes what seems like “common sense” to one person a critical learning point for another. And let’s make sure we address that you should never let someone make you feel bad about learning, no matter where you are in your restaurant journey. 🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com
As a restaurant owner and the leader of your business, it is common to feel as if it’s the universe’s job to throw roadblocks in your way to discourage you and impede your progress. I’m here to encourage you and point you toward practical, actionable solutions that will help you overcome these obstacles. In this episode of my podcast, The Restaurant Prosperity Formula, I explore three distinct segments to help you unlock the full potential of your restaurant. I cover internal challenges, operational hurdles, and external and personal challenges. Whether you're a seasoned restaurateur or just starting out, I want to equip you with the tools and insights needed to steer your restaurant towards greater success and prosperity.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com 
Restaurant Owner Success Depends on This Person --- Before a restaurant owner can join my coaching program, they must have a right-hand person who can help them. I call this person an implementer. This person will learn with you, as the owner, but implement and do the work. This a requirement because as the restaurant owner, your attention can often be required in many other areas of the restaurant. Your implementer is there day in and day out, following the systems and keeping the systems moving forward. In this episode of my podcast, The Restaurant Prosperity Formula, I introduce you to Ciarra Adams. She has been in her family's restaurant for the past eight years. Her parents purchased Super Smokers BBQ restaurant with a 20-year history of award-winning barbeque in the St. Louis area. Her parents joined my group coaching program to put them on the path to freedom from their restaurant and the financial freedom they deserve. Adams was the implementer, and she made sure the systems were followed and moved forward, even when her parents got distracted with other issues and challenges. While her parents and Adams have graduated from the coaching program, she is still the steady hand for her parents. She shares about her experience and provides tips for other restaurant owners and implementers alike.🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com 
My favorite podcast episodes are those with restaurant owners who have transformed their restaurants and their lives. The transformation these restaurant owners made is going to blow you away. Joshua Powell and Joseph Vericella are owners of Clay’s Cafe in Hebron, Ohio. Clay opened its doors in 1934 and it has been a local staple for generations. Powell is a real estate agent turned investor, turned restaurant owner, who never thought he would own the restaurant he worked at as a kid. His partner, Vericella, has a long and successful career in hospitality. If you asked them both, they would probably tell you they are foodies at heart. In this episode of my podcast, The Restaurant Prosperity Formula, Powell and Vericella share with us the challenges they faced taking over a restaurant that has long-standing traditions and long-term employees, and the change they made that gave them their lives back and exploded their profitability. Through this episode you’ll see the growth in their confidence and assertiveness as restaurant owners, which allowed them to make necessary changes in their business, such as dealing with toxic employees and identifying red flags in their operations. 🖥️ Get My Latest Training Video: https://dsp.coach/training-opt-in  👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com
Our guest today is Josh Kopel, a restaurateur, entrepreneur and coach. This is Josh’s second time on the podcast, and he’s back to talk to us about restaurant marketing and what it really means for your business. Throughout his 20-year career, he’s managed venues ranging from casual dining concepts to Hollywood nightclubs, bars and ultra-lounges. He also opened his own Michelin-rated fine dining concept. Josh is a real restaurant pro. In this episode of my podcast, The Restaurant Prosperity Formula, Josh and I discuss a few restaurant marketing myths, he debunks them, and he provides an incredible amount of information for you to consider for your own restaurant marketing activity.Get Time with Josh: www.PlanWithJosh.comFind Josh’s podcast Full Comp: https://restaurants.yelp.com/restaurant-resources/full-comp-podcast/👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com
Today I want to talk about a silent morale and profit-killer in your restaurant that is often overlooked. That killer is decision-making waste. Decision-making waste in your restaurant is a silent profit killer that can slowly erode margins without restaurant owners even noticing. For example, there are decisions that take too long to be made that are like a leaky faucet. That little drip, drip, drip may not seem like a big deal but can waste thousands of gallons of water over time right in front of you. Addressing decision-making waste is not just about cutting costs but also about creating a more efficient, effective and prosperous business. It's about achieving the freedom and financial stability that every restaurant owner dreams of. In this episode of my podcast, The Restaurant Prosperity Formula, I will not only help you identify decision-making waste challenges but also how you can easily overcome them, ultimately moving your restaurant toward restaurant prosperity.👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com
In the restaurant industry it’s important to focus on numbers and performance because those numbers tell you the health of your business. As a coach, I teach restaurant owners how to use budgets and set goals and then measure them. When hiring managers, it’s important to find those who are high performers so they can help you meet those goals. But being a good manager and finding good managers isn’t all about performance. It’s also about establishing trust. Trust plays a critical role in your manager's success. In this episode of my restaurant podcast, The Restaurant Prosperity Formula, I am going to explain this concept of performance and trust, based on renowned author, motivational speaker and organizational consultant Simon Sinek’s TED Talk. Sinek has one of the most watched TED Talks on YouTube and wrote the book, “Leaders Eat Last.” He has inspired leaders and organizations around the world to focus on purpose leadership and create positive organizational culture. Sinek basically says a medium or even low performer who has high trust among their colleagues is more valuable than a high performer with low trust among their colleagues. WHAT? Yes. I talk you through the theory, how Sinek got there while working with Navy Seals and how this applies to your restaurant. If you want to learn more about managing with trust to apply to your own leadership and what to look for in managers for your restaurant, I encourage you to listen to this podcast episode.👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com
If you have been following me for any length of time you have heard me say the following statement: The two most important systems any restaurant should have in place are budgets and recipe costing cards. Why are these two systems so important? They move you from a reactive form of management to a proactive form of management, which is essential to controlling costs and planning for restaurant profits. In this episode of my podcast for restaurant owners, The Restaurant Prosperity Formula, I teach you the four things you must be doing when it comes to ensuring your recipe costing cards are accurate. This is important to listen to even if you have recipe costing cards because many restaurant owners who say they have accurate, up-to-date recipe costing cards still have incorrect cards. Bad numbers give you bad results, so listen in to learn how to review your recipe costing cards and update them so they really are accurate and up to date. 👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com
Hiring in any business is a challenge, but the restaurant and hospitality industries are especially hard. There isn’t an entrepreneur who hasn’t been duped by a smooth-talking go-getter, a server who says they have experience, or that manager with chain experience who you think is going to take your restaurant to the next level. It happens to the best of us! How can you limit those hires? Tune into this episode of my podcast, The Restaurant Prosperity Formula, and learn nine things to avoid in restaurant hiring from Matt Plapp, restaurant marketer extraordinaire. Plapp is a serial entrepreneur. Among his businesses he is the owner of America’s Best Restaurants, a restaurant marketing firm with clients nationwide. Listen in as Plapp and I talk about how he learned the hard way the nine lessons to avoid making a hiring mistake. He has some great examples of how he’s had to learn these lessons. This is a must listen for any entrepreneur, but especially restaurant owners.Find Matt Plapp and America’s Best Restaurants at - https://americasbestrestaurants.com/👍 Book a Call ­– https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com
I’m putting a flag in the ground: your restaurant is not a food business. It’s a hospitality business. If you tell people you are in the food business, then you’re telling them you provide the same thing as a gas station, which also sells food. Restaurants have the privilege to create memories in their customers’ lives. Your job is to create memories for your guests and keep them coming back time and time again. In this episode of my podcast, The Restaurant Prosperity Formula, I answer the question, “What is great hospitality?” and walk you through some of the ways other restaurants I’ve worked with have defined hospitality for their operations. Then I cover what people really remember as their best restaurant experiences and how you can help become part of those stories. And finally, I talk about how to organize the experience for your guests and how to build up to or exceed WOW customer service. 👍 Book a Call - https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  Visit my website for more information about my restaurant coaching program: www.davidscottpeters.com
Your prosperity is my goal. Prosperity is at the core of what I coach restaurant owners, like you, to achieve. Prosperity is freedom from your restaurant when you want it, confidence in your business, confidence in your restaurant’s numbers, the ability to have a life outside the restaurant and, finally, financial freedom. In this episode of The Restaurant Prosperity Formula, I am going to focus on the importance of being a good leader and how your leadership will get you to prosperity. Listen in to learn why leadership is so important and what you can do when you’re not a natural leader. You will also learn how to identify what kind of leader you are and what behaviors you need to avoid. If you want to achieve prosperity, you must take on the responsibility of learning to lead and become the leader your restaurant needs.👍 Book a Call - https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  
In the demanding restaurant industry, it's easy to find yourself consumed by the day-to-day operations of your restaurant. There is so much to do every day from the small tasks like opening the restaurant and pulling the cash drawers to big tasks like hiring employees and calculating dollars per labor hour worked. It can be hard to prioritize your personal life and remember there is a world outside your restaurant. Think about it. How many life events have you missed because you had to be at the restaurant? How many graduations, birthdays, holidays, anniversaries, kid’s sporting events, dates and movie nights have you missed because you had to be in the restaurant? Do you know what that short list represents? Irreplaceable moments in your life! Yes, your restaurant needs your attention, but so does your personal life. In the episode of my podcast, The Restaurant Prosperity Formula, I’m going to talk about why you must create time for your personal happiness and three things that have to happen to make this your reality. 👍 Book a Call - https://dsp.coach/podcast-ryan-callSponsor – Margin Edge: http://www.marginedge.com/dsp  
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