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Business Strategy

Retail Therapy

1. Focus owns seven brands, just under 60 countries (e.g., Auntie Anne’s, Carvel, Cinnabon, Jamba Juice, Moe’s, McAlister Deli, Schlotsky’s) 

2. Most of its international business is in Asia Pacific or the Middle East 

3. Wherever there is a complete demand shock, if the mall is closed, so is our retail business. A different set of navigating leadership required for those brands. 

4. Need drive-through and curbside technology 

5. The response starts with the customer. “Any government that thinks the economy can be opened is missing the point. The economy is not a door. It is all rooted in consumer confidence in general society and the establishments they will visit—and their immediate and mid-term economic future.” 

6. Cash is essential. If you don’t have cash, it’s a very scary time for restaurant owners. 

7. The Logistics side of the supply chain is a mess. 

8. True North for Focus Brands: Keep people safe. Protect your cash. 

9. The brand keeps the customer as a constant focal point for what sales potential will be. What is their sense of confidence? 

10. Big pinch point coming: The largest fixed expense in this business is rent. Landlords and REITS are not prepared for this shock. Many retail businesses are opening without rent re-structuring. They need to renegotiate rent. Right size the economic equation. 

11. Brands can do well with products tailored to current needs: Moe’s launched Moe’s family taco kits. Families need something for dinner, so they don’t have to go to the grocery store. 

12. Focus on what’s “small enough to change and big enough to matter.”

13. “It is within our power to pivot and alter the business.”

14. Hindrances to midcap companies: Legacy investment. Change resistance. 

15. Check-in with front line employees, yourself and significant other. An ongoing challenge is families have a lack of access to childcare. Ask, “What is the best part of the last 30 days? The worst part? What is one thing I can do to be a better partner for you?

Check out this interview with Kat on the CNBC show.

https://www.cnbc.com/video/2018/05/25/kat-cole.html