A short advisory monologue by Donald Burns urging restaurant owners to explore alternatives before closing, including selling, finding a partner or investor, or pivoting/rebranding the concept. He warns that rebranding often requires significant time and money to re-establish a new brand in the market.
Before making decision to close, consider other options, such as maybe selling the restaurant, bringing in a partner or an investor, or pivoting the concept to suit the market better. This is what we call a rebrand, and sometimes it's the best thing you can do. During my consulting days, the majority of my consulting gigs were for rebranding. Now, just so you know, rebrand is going to cost you some money to rebrand, and it's going to take a lot more time than you think to re establish your new brand in the market.
If your restaurant only works because you work 80 hours a week, it doesn't work.
