New Always Wins
brand-as-business bit: One of my colleagues in private equity, Rahul Aggarwal of Brentwood Associates, and I were recently discussing the importance of image and environment in the quick-service and fast-casual restaurant industry segments. He relayed a sentiment that really resonated:
new always wins
He was referring to the buzz and excitement that a new facility creates. Customers want to go there. They want to spend more time there. And employees want to work there.
So restaurants and retailers — and really all companies that deliver their brand experiences in physical spaces — would do well to invest in updating their facilities. Although capital remains tight, and consumer spending is only slowly creeping back up, now is not the time to forego that remodel. A new image might be just the thing to attract attention and generate traffic.