My friend Jeff owns both a brick and mortar restaurant (Modern Asian Kitchen) as well as a food truck (Yum Dum Truck). We’ve spoken multiple times about the parallels between the fitness industry and the restaurant industry, so, I wanted to get Jeff’s take on how COVID-19 is impacting both his food truck business and his brick and mortar restaurant business.
- How an industry with already thin margins can survive with reduced dining room capacity
- How the relationship between restaurants and third party delivery apps really works
- How to handle negative reviews from self-proclaimed food critics – and actually get something valuable out of them
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Check out more from Jeff, Yum Dum Truck and Modern Asian Kitchen here:
- [01:11] What is the difference in business model between the food truck and the brick and mortar restaurant?
- [05:42] What has the impact of COVID-19 been on both businesses?
- [11:14] How can restaurants – with already thin margins – survive in an environment with reduced dining room capacity?
- [18:56] How does Jeff react to negative reviews? And what are some of the more ridiculous things people have said on Yelp? is any negative feedback from review sites actionable?
- [23:59] Are apps like Grubhub and DoorDash a net positive or a net negative for the restaurant industry?
- [32:49] How do the fees for delivery apps actually work? What do the agreements look like between restaurants and delivery apps?
- [38:12] Why hasn’t there been a white label online ordering option that competes with delivery platforms?
- [49:15] What did Jeff’s upbringing in a restaurant family look like? And, how robust are small ethnic restaurants to the disruption presented by COVID-19?
- [55:45] How to follow – and order from – Jeff’s restaurants
Links and Resources Mentioned
- “SF Michelin star restaurants put their unique spin on takeout during shelter in place” from SFGate
- Fat Rice
- “Fat Rice, Chicago’s acclaimed fusion restaurant, has closed” from Eater Chicago
- “Aggregation Theory” from Stratechery by Ben Thompson
- “Nick Kokonas on Resurrecting Restaurants, Skin in the Game, and Investing” from Tim Ferriss