Business
Helen Jane Hearn, Sr. Director of Content for the National Restaurant Association steps in for Host Jerry White in this episode of the Fast Casual Insider. In a conversation recorded at the 2019 National Restaurant Association Show, Helen sits down with Larry Reinstein, founder of the LJR Hospitality Group to discuss Larry’s experience growing up in the restaurant industry, getting into consulting despite a lack of love for restaurant consultants and his best advice when it comes to raising capital.[01:37] - Growing up in the restaurant business[02:59] - Where are you going and how do you get there[03:45] - Confronting uncomfortable truths[05:22] - When funding comes into play[09:57] - The qualities of a good franchisee[10:53] - The right time to bring in equity[13:30] - Basic criteria for founders to consider before seeking capital[15:34] - Larry's sweet spot is strategy[17:20] - A typical consulting engagement[18:29] - What's on Larry's bookshelf[19:27] - Must see at the National Restaurant Association Show[20:56] - Greatest consulting successes[22:18] - Working with emotions and teamsLarry Reinstein is an industry veteran with a proven track record in growing successful brands. As president of LJR Hospitality Ventures, Mr. Reinstein now offers strategic counsel to his clients utilizing over 30 years of experience as a restaurant company owner, professional manager and industry consultant. He is a past chair of the National Restaurant Association Fast Casual Industry Council.Our host, Jerry White, has worked in operations, in foodservice distribution, and then in media sales, holding top sales and management positions with several leading food media companies during the past 35+ years. Jerry joined the team at Plate magazine in early 2010 as associate publisher and continues in that role providing solutions and opportunities for manufacturers and organizations as they anticipate tomorrow’s industry challenges.This episode was sponsored by Sage Intacct, a leading provider of restaurant accounting and financial solutions. Sage Intacct helps their restaurant customers reduce time, cost and resources on tedious financial processes so they can focus on servicing customers and growing their businesses. Learn more about how Sage Intacct restaurant customers make smarter decisions with critical visibility into business performance by visiting www.sageintacct.com/hospitality.If you'd like to receive new episodes as they're published, please subscribe to Fast Casual Insider in Apple Podcasts, Google Podcasts, Spotify or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show. Episode produced by Dante32.