TableSeide Restaurant Group

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Part
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TableSeide Restaurant Group-Company Overview

Tableseide Restaurant Group is a family-owned restaurant group and the corporate company of six restaurants. The company was founded by Steve Seidensticker in 2008 and is currently led by his son, Joe Seidensticker, as the CEO after the death of Steve from cancer. The company is founded on the goal of building innovative brands that will stay competitive and ahead of the market.

History

  • Tableseide Restaurant Group was founded in 2008 by Steve Seidensticker.
  • Before launching Tableseide Restaurant Group, Steve Seidensticker was a manager at Gasparilla Inn, which was a conglomerate of five restaurants, a marina, spa, beach club and two hotels.
  • Steve Seidensticker on founding the company, became the president while Joe Seidensticker acted as the CEO. The other family members, Lisa and Patrick also joined the company in various capacities.
  • Tableseide was launched as the corporate group for all the Seidensticker family’s hospitality holdings.

Growth

  • In 2012, the company opened Louies Modern restaurant as its second portfolio restaurant since launching Libby’s in 2008.
  • In 2012, the company also expanded to offering consulting services to the new Westin restaurant at the Vue Sarasota Bay development as part of the company's expansion plan after the successful operations of Libby's restaurant.
  • The following years saw the expansion of the group’s portfolio restaurants to other locations. The company opened three new restaurants in 2019 and Circo restaurant in 2020.
  • The company applied a three-level model corporate structure in other to decrease employee burnout and increase efficient communications between the management and employees.
  • Tableseide's driving growth factor has been to remain competitive in the restaurant industry. This has led the company to redesign its menu, rebrand its portfolio restaurants, make changes to the aesthetics of the restaurants.
  • The company also shifted its marketing spend from print media to social media and online advertising.
  • Tableseide also reduced the space of its Libby's restaurant and lowered the menu prices between 10% to 15% in other to stay competitive.
  • Tableseide plans to open several new locations in Florida and start franchising outside the state.

Headquarters

Revenue

  • Tableseide Restuarant Group generated revenue of $11 million in 2018.

Locations

Products

  • Tableseide Restaurant Group operates through its portfolio restaurants which specialize in craft beer, pizza, taco, classic American dishes, and brasserie menus.
  • Circo is a taco and bourbon joint. Its menu includes Elote Corn Salsa, Mango Salsa, Thai Shrimp, Korean Prok, Mongolian Beef, Nashville Hot Vegetable, Edamame Falafel, Chicken and Biscuit and Buffalo Chicken tacos.
  • Libby’s offers a brasserie menu.
  • Lemon Tree Kitchen specializes in providing classic American dishes which includes Paleo, Keto, Gluten-Free or Vegan. The restaurant is focused on providing meals for customers who are passionate about living a healthy lifestyle.
  • Oak and Stone specialize in craft beer and artisan wood-fired pizzas.
  • Tableseide Catering provides catering services.
Part
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Part
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TableSeide Restaurant Group-C-Suite

The C-suite for Tableseide Restaurant Group currently consists of Joe Seidensticker, co-CEO; Lisa Seidensticker, COO; and Joseph R. Guli III, co-CEO.

Joe Seidensticker

  • Joe Seidensticker is the co-CEO and co-owner of Tableseide Restaurant Group.
  • His LinkedIn profile can be found here.
  • The only experience listed on his LinkedIn profile owner of Louies Modern, which was the former name of Lemon Tree Kitchen, which is still owned by Tableseide Restaurant Group. He has been the owner since 2013.
  • That he has only been the owner of a restaurant is in keeping with the fact that he "grew up in the business" and followed in his restaurant-owning father, Steve Seidensticker.
  • There is no information available on Seidensticker's responsibilities, but it is clear he is in charge of expansion opportunities as he stated of some expansion opportunities that he turned down: "We've passed on decisions."
  • Seidensticker also appears to be the spokesperson for Tableseide Restaurant Group, as he is quoted extensively in media, while other employees are not.

Lisa Seidensticker

  • Lisa Seidensticker is the COO of Tableseide Restaurant Group.
  • She does not have a LinkedIn profile, so we were unable to identify her prior job.
  • According to BusinessObserver, Lisa Seidensticker "works a little bit everywhere in the business, but catering is her specialty."
  • She also works extensively with nonprofit groups in Sarasota, Florida in the capacity of her job at Tableseide Restaurant Group.

Joseph R. Guli III

Research Strategy

We began searching for the C-suite team at Tableseide Restaurant Group on the company's website, but unfortunately, the executives are not listed anywhere on the site. A thorough search of the company's social media sites (Facebook, Twitter, and Instagram) likewise revealed no information in its C-suite. Posts and responses are made under the company's name in all cases. We turned our attention to LinkedIn, where we located the profiles for Joe Seidensticker and Joseph R. Guli III. These were the only two C-suite individuals on LinkedIn for Tableseide. Unfortunately, there is very little information for either person that explains what they do at the company. Our next strategy was to search media articles for mention of current executives or press releases of new C-suite hires. This is how we found that Lisa Seidensticker is the COO of Tableseide Restaurant Group. Unfortunately, she does not have a LinkedIn account, but we were able to find an interview with her which provided some information regarding what she does at Tableseide Restaurant Group. There was, however, no information on her previous job. Like her brother Joe Seidensticker, Lisa grew up in the business, so it is likely she has worked for her father, Steve Seidensticker for many years.

This strategy also revealed that Patrick Seidensticker was the company's CFO in 2017, but in 2019, he left Tableseide to join the "law firm of Icard, Merrill, Cullis, Timm, Furen, and Ginsburg PA as an associate in their Lakewood Ranch office." He is still identified as co-founder of Tableseide Restaurant Group, but he no longer has an active role in the company. There does not appear to be a replacement yet for CFO, as Patrick Seidensticker only left in October 2019.
Part
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Part
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TableSeide Restaurant Group-Media Scan

Eight unique recent news and media articles about Tableseide Restaurant Group that chronicles the company’s issues over the past 12 months primarily include its expansion activities such as the reopening of Libby’s restaurant, the launch of the Lemon Tree Kitchen, Oak & Stone’s second location, and Libby’s new location at Lakewood Ranch. The company launched six new restaurants in 2019 and one new restaurant in 2020.

Tableseide Restaurant Group Opens CIRCO, A Taco and Bourbon Joint

  • Tableseide Restaurant Group announced the opening of its latest restaurant called CIRCO in Sarasota that features innovative culinary creations with Mexican and American roots. According to the article, CIRCO is a place for classic margaritas, fun cocktails, and “rare and interesting mezcals and bourbons”.

Restaurant News: Libby’s Opening Lakewood Ranch Location This Week

Oak & Stone Launches New Concept in Bradenton

  • Oak & Stone announced the launch of its new concept “Fastfire” in Bradenton. The Fastfire has a limited menu with re-imagined American classics, specialty pizzas, and “Oak & Stone’s signature stone-fired slow-roasted wings”. The new concept also features a range of wine and beer options from regional and local breweries.

Sarasota, Florida’s Tableseide Restaurant Group Opening Several New Eateries

  • This article was published on July 29, 2019, by The Herald Tribune.
  • In this article, the CEO of Tableseide Restaurant Group, Joe Seidensticker, talks about the growth of the company with several projects in the making. Seidensticker claimed that projects at work were behind schedule and the plan was intended as a “one-year or two-year process”.

Sarasota-based Tableseide Restaurant Group Keeps Two Pillars at Forefront: Always Evolve and Get More Efficient

  • This article was published on June 14, 2019, by the Business Observer.

Oak & Stone Opening Second Sarasota Location Next Week

  • This article was published on May 17, 2019, by The Herald Tribune.
  • Oak & Stone announced the opening of its second Sarasota location that features its signature self-serve beer tap wall, delicious pizzas, and other classic American dishes. The article also stated that during the first week of the restaurant’s operation, Oak & Stone would donate a part of its sales to a Sarasota-based non-profit organization, Vets 2 Success. Oak & Stone partnered with the non-profit and supports its operations by purchasing organic ingredients from its farm.

Libby’s Reopens This Week in Sarasota

  • This article was published on May 13, 2019, by The Herald Tribune.
  • This article describes the new-look of Tableseide Restaurant Group’s Southside Village Libby’s restaurant. After the renovation, Libby’s no longer has a 1950s ambiance but has been transformed into a trendy neighborhood brasserie. The remodeling and construction of Libby’s restaurant took over a year.

Tableseide Restaurant Group to Launch New Healthy Dining Restaurant Lemon Tree Kitchen

  • This article was published on March 19, 2019, by the Business Observer.
  • Tableseide Restaurant Group announced the launch of its new full-service concept restaurant called Lemon Tree Kitchen. The new restaurant takes up the space that was once occupied by Louie’s Modern restaurant. According to the CEO, the plan was made with healthy dining options and value pricing in mind.

Research Strategy

We began our search by looking into the press releases made by Tableseide Restaurant Group, announcements covered by leading media channels, and articles published by regional and industry-specific media groups. After an exhaustive search through these channels, we found less than 10 unique news and media articles that chronicle the company’s activities and issues over the past 12 months. We then expanded our search to include company profiling websites such as Crunchbase to identify any recent news regarding finance, mergers, and acquisitions. However, we found no information on any recent event concerning the Tableseide Restaurant Group over the past 12 months.

Part
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Part
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TableSeide Restaurant Group-HQ Activity and Corporate Acquisitions

Tableseide Restaurant Group owns Lemon Tree Kitchen, Libby's Neighborhood Brasserie, Libby's at Lakewood Ranch, Muse at the Ringling, Circo, Oak & Stone, and Oak & Stone Fastfire. The company does not appear to have any future plans for growth because it opened six restaurants in 2019.

Brands that Tableseide Restaurant Group Owns

  • According to Tableseide Restaurant Group's website, it owns the following brands:
    • Lemon Tree Kitchen, a healthy food restaurant located in downtown Sarasota, Florida, is owned by Tableseide Restaurant Group.
    • Tableseide Restaurant Group is the corporate identity behind Libby's Neighborhood Brasserie, an upscale restaurant located in Sarasota, Florida.
    • Libby's at Lakewood Ranch is a spinoff of Libby's Neighborhood Brasserie and is owned by Tableseide Restaurant Group.
    • Muse at the Ringling is a restaurant in Sarasota, Florida that features "local cuisine with international flair" that is owned by Tableseide Restaurant Group.
    • Circo, also located in Sarasota, Florida and owned by Tableseide Restaurant group, is a restaurant that features "artisan tacos, fine mezcals, and fine bourbons."
    • Oak & Stone is an artisan pizza restaurant located in University Park, Florida and is owned by Tableseide Restaurant Group.
    • Oak & Stone Fastfire is a spinoff of the original Oak & Stone restaurant and is located in Bradenton, Florida.

Future Expansion or Acquisition Plans

  • The previous year was busy in terms of expansion for Tableseide Restaurant Group, as it opened three restaurants in the early part of 2019 and planned to open several more in the latter half of the year.
  • Lemon Tree Kitchen opened in March 2019, Libby's Neighborhood Brasserie opened in May 2019, Oak & Stone's second location in Sarasota opened in May 2019, Libby's at Lakewood Ranch opened in September 2019, Oak & Stone's Bradenton location opened in September 2019, and Oak & Stone's fifth location opened in November 2019.
  • As a result, the Joe Seidensticker, CEO of Tableseide Restaurant Group, has stated he is "looking forward to getting everything up and running so he and his team can take a breather and focus on guest experience." This indicates there are no current plans to expand or acquire other restaurants at this time.
  • In fact, the expansions in 2019 were behind schedule as Seidensticker stated, "Honestly, we’re just behind schedule on everything... It wasn’t meant to be a wave. It was meant to be a one-year or two-year process."

Research Strategy

To find the future growth plans for Tableseide Restaurant Group, we began by searching for direct quotes from executives of the company. This is where we found quotes that hinted that there are no current plans for future growth because 2019 was a year of extensive growth. However, we continued our search to see if any plans for growth in 2020 or beyond had been announced. Previous to 2019, the only mention of growth for the Tableseide Restaurant Group referred to the company's 2019 plans, which were behind schedule, so they may have actually been for 2018 or earlier. We shifted our focus to industry publications like QSR Magazine, Franchise Times, RestaurantDive, Eater, and more. There were mentions of other companies' expansion plans, mostly nationally, but nothing about Tableseide Restaurant Group. Our third effort involved searching employment ads to see if Tableseide Restaurant Group was hiring for future restaurants, but the only ads were for current, open restaurants. Therefore, we concluded that Tableseide Restaurant Group is taking a break from expansion for at least the next few months, if not the entire year to focus on the new restaurants it opened in 2019.
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Part
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Marketing Executive Biography - Melissa Darpino

Melissa Darpino is a food and cultural enthusiast, both in her personal life as well as her professional responsibilities.

Personal Biography

Education

  • Ms. Darpino has undergraduate degrees from Temple University in Advertising and Journalism.
  • Although she cites her education from the University of North Carolina at Greensboro within her LinkedIn profile, further searches as well as other public biographies do not corroborate this experience or detail any formal degrees earned from UNC-Greensboro.

Family Life

  • Ms. Darpino has a daughter (Catherine Darpino), whom she regularly includes within her social activities and social media postings.
  • She does not currently appear to be connected with the father of her child.
  • Additionally, Ms. Darpino's family includes her mother (Josephine Darpino), her brother and his wife (Max and Denise Darpino), her second brother (Anthony Darpino) as well as the family of her sister (Anna Morris).

Hobbies & Interests

  • As evidenced by her current profile with Schaffer, media coverage and regular Instagram posts, Ms. Darpino's personal interests revolve around food culture, the local dining scene in Los Angeles and her daughter.
  • Her love of food culture stems from the farming and butchery backgrounds of her grandparents, who also owned an Italian deli.
  • Meanwhile, Ms. Darpino also holds season tickets to orchestras and local theaters, and enjoys collecting cookbooks.
  • Moreover, Ms. Darpino appears to be a fan of spiritual guide Deepak Chopra and Walt Disney, per her LinkedIn profile.

Social Causes

  • While an extensive review of Ms. Darpino's social causes highlighted little public activity outside of her work responsibilities, a slightly expanded search into 2017 confirmed that she and her daughter are patrons of the Ringling Museum.

Social Media

  • Ms. Darpino has a somewhat active social media presence on Instagram (1.2 thousand followers), Twitter (3 followers) and LinkedIn (over 500 connections).


Professional Biography

Work Experience

  • Ms. Darpino is a self-proclaimed "chef whisperer," "hospitality guru," and "event planner" who has helped plan/host over 3,000 events, including experiences for 18 Emmy Awards as well as events for Presidents Clinton and Obama.
  • Since 2019, she has served as the Director of Sales and Marketing for hospitality company Schaffer, before which was the Brand Ambassador to Vintage Grocers (2017-2019).
  • Ms. Darpino's time with TableSeide Restaurant Group as Director of Marketing and Sales was brief, lasting only six months between February and July of 2017.
  • Prior to that, she held several positions in special events and catering at Patina Restaurant Group (12.5 years), Food Art Group (almost two years) and Citrus at Social (1.5 years).

Responsibilities at TableSeide Restaurant Group

  • While at TableSeide, Ms. Darpino was primarily charged with identifying event and marketing opportunities for the restaurant group, as well as liaising with the catering and events teams to help executive memorable event experiences.
  • These responsibilities also extended to TableSeide's brands, such as Libby's Café + Bar, Louies Modern, Muse at The Ringling, Oak & Stone, Banyan Café, The Francis and Modern Events.
  • Additionally, she was responsible for overseeing the marketing, public relations and social media efforts of the parent company.

Boards

  • Ms. Darpino appears to have little to no presence within the boards of formal organizations.
  • A robust search of potential board associations revealed that she may severe on the board of marketing company Borelli Strategies, however further research of the company's website and other resources failed to corroborate this suggestion.

Recent News

  • The majority of recent news coverage of Ms. Darpino appears to highlight her advocacy for Vintage Grocers, where she served as brand ambassador for several years.
  • This includes a February of 2019 article published by Progressive Grocer, which highlights Ms. Darpino's comments on the unique guest experience at Vintage Grocers.
  • More recently in August of 2019, BizBash featured Ms. Darpino as part of an article discussing how films have inspired the event careers of notable leaders in the event planning industry.

Research Strategy

Please note, for the purpose of this analysis, three articles published in 2017 were leveraged to provide additional information regarding Ms. Darpino's brief time at TableSeide, as well as her patronage of the Ringling Museum. Given the fact that more recent coverage of her role at TableSeide and patronage activities is limited, and that these articles help corroborate and expand on more current information, we determined that it was appropriate and reasonable to include these relatively recent new research sources within this summary for reference purposes.
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Part
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TableSeide Restaurant Group-Agency of Record and Creatives

TableSeide Restaurant Group's current agency of record is Imagica. The work done by Imagica for TableSeide Restaurant Group includes branding, photography, public relations, and advertising.

TableSeide Restaurant Group's Agency of Record

  • Imagica is the current agency of record for TableSeide Restaurant Group.
  • Imagica is a marketing agency located in Sarasota, Florida.
  • Imagica has helped TableSeide Restaurant Group with its "branding and identity, menu design, website design, subscriber email, advertising, public relations, photography, and community relations".
  • Imagica included its work for TableSeide Restaurant Group among its recent projects on its homepage.

Recent Creatives

  • The most recent work done by Imagica for TableSeide Restaurant Group includes producing images for the social media marketing campaign of Oak & Stone, a TableSeide Restaurant Group brand, in December 2019.
  • Imagica also carried out a photography project for the catering division of TableSeide Restaurant Group at a wedding event in June 2019.
  • In 2018, Imagica provided the image used in publishing the announcement of the partnership between TableSeide Restaurant Group’s catering division and Architectural Salvage Warehouse & Garden on SRQ Magazine.


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Part
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TableSeide Restaurant Group-Social Media Scan

Tableseide Restaurant has social media accounts on Facebook, Twitter, and Instagram. However, it is only active on Facebook in where it posts every three to four days, with two to three posts per day. Screenshots for each account can be found here.

Facebook

Twitter

Instagram

Research Strategy

The team started the search by looking into Tableseide Restaurant’s website to search for the links of their social media accounts. During the search, we were able to find links to their Facebook, Twitter, and Instagram accounts. We then performed a social media scan in each account. We looked for their number of followers, their posting schedules, and their engagement per post during the past two years. The team used Phlanx’s engagement calculator to find the engagement per post in each account. We also added a screenshot of each of the accounts’ pages, which can be found here.
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Part
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TableSeide Restaurant Group-Competitors (1)

Rapoport’s Restaurant Group’s collection of independent restaurants includes Burt & Max’s, Deck 84, Prezzo, and Max’s Grille located in South Florida. Rapoport’s Restaurant Group has received acclaimed recognition for its excellence in dining and in being a premier restaurant company.

Competitive Advantage

  • The company is run by Burt Rapoport, a veteran restaurateur, and has been in operation for over 30 years. The company prides itself on offering high-quality cuisine, attentive customer service, and a welcoming ambiance at all its four restaurants.
  • Rapoport’s Restaurant Group has been recognized both locally and on a national level for its excellence in the business of fine-dining. Some of its notable awards include the national Community Excellence Award and the Southeast Dream Big Small Business of the Year Award in 2013. Burt Rapoport was acknowledged by South Florida Business Journal as one of the Power Leaders in Hospitality and has been nominated for the title of Most Powerful People in Palm Beach County by Boca Life Magazine.

Strengths

  • With over three decades of operational experience, each restaurant has redefined its menu to offer its guests with elevated and artistic food at reasonable prices. The restaurants feature clean flavors and incorporate local products in their respective cuisines. Customers who have dined at Rapoport’s restaurants have offered positive reviews with comments such as “great food” and “excellent customer service”.
  • Rapoport’s restaurants’ biggest strength is the fresh fish they obtain each day. The company works with Third Wind Seafood that sources fresh fish from the fishermen and delivers them straight to the restaurants. The restaurants’ expert chefs develop creative specials each night depending on the “catch of the day”. Rapoport’s Deck 84 restaurant allows its guests to bring their own catch which will then be cooked by the restaurant’s executive chef.
  • The company ensures to incorporate healthy options in its menus based on seasonal produce and consumer eating habits such as plant-based cuisine.

Weaknesses

  • Rapoport’s Restaurant Group’s rewards are valid at Burt & Max’s, Deck 84, and Prezzo, but cannot be used at Max’s Grille.
  • The company lacks a delivery option and an online ordering facility. This impacts the company’s market share since its competitors offer these facilities on their websites.
  • While the company operates four premier restaurants, it covers a small geographical area as compared to its competitors.

Revenue

  • Rapoport’s Restaurant Group has an estimated annual revenue of $11.5 million.

Locations

Research Strategy

The research for Rapoport’s Restaurant Group was fairly straightforward. We scoured through the company’s website and were able to find the required information on Rapoport’s Restaurant Group’s competitive advantage, strengths, perceived weaknesses, and the places where the company has a footprint. We also looked into the company’s social media pages such as Facebook and review websites such as Google Review for recent customer reviews. We then looked through industry-specific reports and media articles from sources such as Forbes and QSR Magazines to identify the company’s annual revenue. However, we found no financial information concerning the company as a whole nor for the individual restaurants it operates. Since the company is privately owned and does not disclose its financial records for public consumption, we looked into company profiler websites such as Crunchbase and Zoominfo to obtain the company’s estimated annual revenue.

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Part
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TableSeide Restaurant Group-Competitors (2)

Vida & Estilo is a premier South Florida based Restaurant Group that operates a total of 50 restaurants located in Miami, Las Vegas, and Mexico. Big Time Restaurant Group operates a total of 17 highly acclaimed restaurants founded by Lisabet Summa.

Vida & Estilo

Competitive Advantage
  • The competitive advantage of the company lies in its unique concept of focusing on a 360-degree ambiance, which ranges from music to decor. They have created a unique identity for each restaurant through its furniture, decor, lighting, and gardening, which are handmade by artisans that make it feels like a destination of its own compared to the restaurant chains from its competitors.

Strengths
  • VE Restaurants Group is a proud member of the Miami Beach Chamber of Commerce, and the company consists of a team of international and industry professionals that have created a unique identity for each restaurant in the group to successfully expand its restaurants with varied cuisines.
  • The Vida & Estilo Restaurant Group has formed major partnerships with brands, such as The Venetian, Caesar's Palace, Marriott, GGP, The Clay, El Paseo, TerraNova, and Bacardi, that has helped the restaurants, bars and nightlife destinations of the company to perform stronger throughout Miami, Las Vegas, and Mexico.

Weaknesses
  • Vida & Estilo Restaurant Group doesn't offer franchising opportunities for its restaurants, potentially weakening its expansion in the U.S. over competitors that offer it. In addition, operational control is more difficult with such a wide, non-centralized geographical range.

Revenue

Locations
  • Vida & Estilo Restaurant Group operates a total of 50 restaurants across Miami, Las Vegas, and Mexico.
  • The company has a variety of restaurants across Brickell, Miami, and South Beach, which includes five Havana 1957 restaurants, one Oh! Mexico restaurant, one Mercato Della Pescheria restaurant, one Tapas & Tintos restaurant, and two La Cerveceria De Barrio restaurants.
  • It also has restaurants across Las Vegas, in The Venetian and Caesar’s Palace hotels, which includes one Mercato Della Pescheria restaurant, one Cafe Americano, and one Terraza by Cafe Americano.
  • Vida & Estilo Restaurant Group operates a total of 37 restaurants in Mexico, which includes six Burger Bar Joints, 29 La Cerveceria De Barrio restaurants, and two Taqueria Comedero Mexicano restaurants.

Big Time Restaurant Group

Competitive Advantage
  • The competitive advantage of Big Time Restaurant Group lies in its 26 years of experience in the restaurant industry that have been poured over six distinct concepts with varied cuisines that appeals to a broad range of customers, which has helped them to create chef-driven, highly acclaimed restaurants.

Strengths

Weaknesses

Revenue

Locations


Part
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Part
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TableSeide Restaurant Group-Competitors (3)

The restaurants of Southern Restaurant Group specialize in Gulf seafood and have more than 40 years of experience in offering traditional seafood. The Modern Restaurant Group offers a wide range of food, and each restaurant specializes in unique cuisines.

THE MODERN RESTAURANT GROUP

Competitive Advantage
  • A restaurant of MRG has received national recognition as the ‘Top 100 Hot Spot Restaurants in America’, which is an indication of popularity. The restaurants of MRG offer a wide variety of food, each of them focusing on unique cuisines.
Strengths
  • All restaurants of MRG offer gluten-free and vegan food options.
  • The group owns four restaurants, each with its own unique cuisine. Park Tavern specializes in 'housemade' food for everyday-dining experience, Cut 432 centers on steak, while El Camino of Delray and Lauderdale focus on Mexican cuisine.
  • MRG also blends a traditional approach and modern innovation to create cuisine that surpass and redefine standards.
Weaknesses
  • The restaurants offer a wide range of cuisines and have a ‘large fan base’. However, MRG has established itself to be ‘high-end’. Customers who are thrifty or economical might be concerned with the price of the food offered.
  • The restaurants of MRG offer discounts on drinks during ‘Happy Hours’. However, the group’s lack of management has led to overcrowding in the bars. As a result, discounts have proved to be fruitless because the customers are not able to enjoy the occasion.
Revenue
Footprint

THE SOUTHERN RESTAURANT GROUP

Competitive Advantage
  • The restaurants of SRG are located in vacation destinations, Panama City Beach and Orange Beach. This increases the chance of tourists visiting the restaurants to experience traditional, local cuisine. Additionally, the restaurants specialize in freshly delivered Gulf seafood, with more than 40 years of experience.
Strengths
  • The restaurants of SRG prepare their food from fresh seafood that is delivered every day.
  • They also offer a family-friendly atmosphere that is enjoyed by the entire family.
  • Also, “with there being hundreds of restaurants in Destin, Lagniappe, a restaurant of SRG is consistently ranked in the Top 10 restaurants on TripAdvisor and wins the Award of Excellence every year”.
  • The scenic view of the waterfront restaurants invites customers with an eye for beach views.
  • Despite specializing in seafood, all the restaurants of SRG offer vegan and gluten-free options.
Weaknesses
  • The food is considered expensive and might not be preferred by customers looking for budget-friendly dine-out.
  • Their restaurants focus only on seafood and do not offer a wide range of cuisines.
  • The restaurants do not have a wide customer base and must rely on locals and tourists.
Revenue
Footprint

RESEARCH STRATEGY

Precompiled data regarding the Modern Restaurant Group and Southern Restaurant Group is scarce in the public domain. Very limited information is available on third-party sources about the two competitors of TableSeide Restaurant Group.
The revenue of MRG is not reported in the public domain. We examined the official website of the company to locate the information. However, the website does not have a dedicated section for annual reports to identify the data. We examined Crunchbase, ZoomInfo, Bloomberg, and other similar sites to find the information, but the profile of MRG was not found. Further, we looked into the same sites to identify the revenue of the restaurants of MRG individually.

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Part
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TableSeide Restaurant Group-Competitors (4)

Kearns Restaurant Group and Talk of the Town Restaurant Group are companies that own multiple popular restaurants in Florida. Each company earns eight-figure revenues and both have a large presence in central Florida. Their restaurants mostly cater to steak and seafood lovers. These points and more are discussed in greater detail below.

Kearns Restaurant Group

Talk of the Town Restaurant Group

  • Competitive advantage:
  • Strengths:
  • Weaknesses:
    • Many of their restaurants seem to overlap in terms of the food they offer, for example, Charley's Steakhouse, Vito's Chophouse and Texas Cattle Company.
    • Even though all their restaurant websites are built on the same OpenTable system, they look very similar and don't have many unique attributes that differentiate them.
    • Their locations seem to mostly be concentrated in central Florida.
  • Revenue: $64 million
  • Locations:

Research Strategy

During our search, we used each company's respective websites and news stories to determine competitive advantages, strengths, weaknesses, and locations. We found Talk of the Town's revenue on its website, however, we were unable to find Kearns Restaurant Group's revenue after searching through their website. We believed that just like Talk of the Town's website, we should've been able to find sales figures on Kearn's website. Because this was not the case, we changed strategy.

Our next strategy was to search news sites. The news sites we looked through included Business Observer and Biz Journals. Even though this search wasn't successful either, in the Business Observer article, the Vice President explicitly stated that they don't reveal their revenue. Their Vice President confirmed they make eight figures every year, which means they earn between $10 million and $99 million a year. We also learned from that same story that The Boathouse earns $7 million a year. So we went ahead and searched for each company's revenue individually, however, only one restaurant turned up results and that was Ford's Garage. On a news article, we learned that Ford's Garage does about $5 million per location. With this in mind and the assumption from context that The Boathouse with $7 million a year is their highest-earning single property, we decided to make the assumption that each other restaurant location earns $5 million and make a calculation based on that.

Calculations:
There's a partnership between Kearns and 23 Restaurant Services, while there's a licensing agreement with Ford. More research needs to be done to ascertain fully what the specifics of this agreement are, but what we do know is that Kearns fully owns at least three Ford's Garage locations in Cape Coral, Estero, and Fort Myers.

Considering all of this, we performed the following calculations, with a multiplier signifying the number of locations that we can prove.
Boathouse — $7 million
The Firestone — $5 million
The Lodge — $5 million
Cabos Cantina — $5 million
Social House — $5 million
Capone's Pizza — $5 million (x2)
Izzy's — $5 million
Ford's Garage — $5 million (x3)

Therefore, Kearn's annual revenue should be $7 million + $5 million + $5 million + $5 million + $5 million + $10 million + $5 million + $15 million = approx. $57 million.

A more accurate calculation of their annual revenue can be done when more research is done to ascertain Kearn's ownership of Ford's Garage.
Part
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Part
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TableSeide Restaurant Group-Competitors

Seven true competitors to TableSeide Restaurant Group are Rapoport's Restaurant Group, Vida & Estilo, Big Time Restaurant Group, Modern Restaurant Group, Southern Restaurant Group, Kearns Restaurant Group and Talk of the Town Restaurant Group.

1. Rapoport's Restaurant Group

  • Rapoport's Restaurant Group was selected as a true competitor to TableSeide given that the organization operates four independent restaurants across Boca Raton and Delray Beach, Florida.
  • Additionally, the restaurant network was chosen because it similarly offers high-quality yet approachable products including pizza and grilled food, with the value proposition of providing "good value" in a "welcoming" environment.

2. Vida & Estilo

  • Vida & Estilo was identified as a second true competitor given that the restaurant group operates six independent restaurants across Brickell, Miami and South Beach, Florida.
  • Moreover, Vida & Estilo was selected given its value proposition of offering "unique" and trendy restaurant experiences, alongside more approachable cuisine such as Mexican tapas.

3. Big Time Restaurant Group

  • Big Time Restaurant Group was also identified as a true competitor to TableSeide given that the organization operates eight independent restaurants across Florida, including in Fort Lauderdale, Boca Raton, Delray Beach and West Palm Beach.
  • Additionally, Big Time shares a similar value proposition of "delicious, reasonably priced food," such as pizza and oysters, in a comfortable yet exciting atmosphere.

4. Modern Restaurant Group

  • Modern Restaurant Group (MRM) was selected as a true competitor to TableSeide given that the organization operates four independent restaurants across Fort Lauderdale and Delray Beach, Florida.
  • Also, in a manner similar to TableSeide, MRM seeks to offer a traditional yet trendy experience and value proposition, by offering everyday cuisine as part of a "feel-good neighborhood dining experience."

5. Southern Restaurant Group

  • Southern Restaurant Group was chosen as the fifth true competitor of TableSeide given that the organization operations six restaurants within its three independent restaurant brands across Destin, Panama City Beach, and Orange Beach, Florida.
  • Additionally, Southern Restaurant Group was selected because of its similar value proposition of high quality food in a fun and relaxed atmosphere, with its "best seafood" products and "best views."

6. Kearns Restaurant Group

  • Kearns Restaurant Group (KRG) was identified as another competitor given that the organization operates eight independent restaurant concepts across Southwest Florida.
  • Moreover, KRG offers a value proposition that is related to TableSeide in that it provides unique "style, decor and cuisine," including approachable fare such as burgers and sushi.

7. Talk of the Town Restaurant Group

  • Also, this restaurant organization serves its fare of high quality steak and seafood in a trendy, fun environment, with each restaurant offering a unique and welcoming theme as part of the company's value proposition.

Research Strategy

Recognizing that TableSeide Restaurant Group oversees a network of six independent restaurants and catering operations in Southwest Florida, we determined that seven true competitors of the organization would be restaurant groups of a similar scale that also operate multiple, independent restaurants in the Southern, Western and Central Florida areas. Additionally, we recognized that TableSeide offers the distinct value proposition of trendy yet still approachable food, and narrowed potential competitors to those with similar products and like-minded value propositions.
Sources
Sources

From Part 10