Bending Rules -- Ian Olsen, Restaurant Entrepreneur and Co-founder of Lemonade, a 50M+ in annual sales restaurant chain shares his journey with Pete and Chris
Description
Intro: We have all had a great idea for a restaurant at some point, right? Well, Ian picked his spots to invest and start new brands and restaurant concepts over the past 20 years with some great results, including the co-founding of Lemonade, a California based restaurant chain that expanded internationally, including a restaurant in Dubai. Whether you are aspiring to be a restaurateur or not, Ian is a great story teller and imparts many valuable lessons if you are an aspiring entrepreneur in any industry.
3:23 -- The beginnings, Ian's foray into a burgeoning pizza chain. The accidental entrepreneur.
9:54 -- Biggest challenge to launching a restaurant brand.
22:51 -- Success factors for a restaurant; seed capital, mentors and being in the "Path of Progress"
29:05 -- Financing a restaurant venture that's growing
47:30 -- Finding the ideal partner and passion
56:00 -- Starting a restaurant in a recession, 2008, and later the value of strategic financing; role of private equity
1:10 -- Importance of being an "Editor in Retail." Ian explains how simplicity and focus are integral to execution at scale
1:15 -- Exiting Lemonade (timing) and how his experiences prepared Ian and his partners to transition to the manufacturing/production side of the business. This aspect reminded me of Bayard Fox's journey to the founding of Cement Elegance (from retail to production)
1:30 -- Some key takeaways. Join us in a couple of weeks as we interview our next successful entrepreneur, and please pass along the pod to others if you like what you are hearing.
Onward ~
United States
