Eric Koslowski, proprietor of Primanti Bros. in Fort Lauderdale, Florida, doesn’t appear to be taking the recession mendacity down. When alternative knocked, he answered in an enormous approach. Koslowski not too long ago opened a 4,700-square-foot retailer by negotiating with the constructing’s proprietor. In consequence, gross sales are persistently hitting $50,000- plus every week at his latest location.
Q. Why open a brand new retailer in an ailing economic system?
A: We have been capable of finding that landlords are prepared to offer very, very long-term favorable leases proper now for about 60 cents on the greenback, and we have now the choice to buy the property which we most likely couldn’t have performed years in the past. We took over a constructing that had been an out parcel to a shopping mall and the place went bankrupt. It was a seafood restaurant. It’s sometimes $10,000 to $12,000 (a month in hire) for any such constructing, and I obtained it for $8,000. As a substitute of getting a five-to 15-year lease, I obtained a 30-year lease. Each single factor we wished, the owner was like, ‘Yeah! We would like someone right here.’
Q. You’re providing a prixe fixe household night time menu on Tuesday and Thursday nights. How is that working for you?
A: We actually obtained an excellent deal on the property and that being, we have been capable of have a really economical menu for our clients … Tuesdays and Thursdays we do a 20-inch pizza with three toppings and a pitcher of Coke for $16.99. You may substitute a pitcher of beer for $17.99. Final Thursday from 6 p.m. to 9 p.m., we bought like 130 of these (packages). It was superb. Thursdays, Fridays and Saturdays, we have now strains.
Q. How is enterprise at your different places?
A: We even have 16-percent progress at our two present eating places, 2009 versus 2008. Every retailer grew by 16 p.c. Persons are ‘buying and selling down’ from the higher-end eating places to extra economical ones, however they received’t commerce down in high quality. We’ll fi nd that we’ll have The Cheesecake Manufacturing unit sort buyer come to our retailer as a result of though it’s pizza, it’s nice pizza. They’re not going to exit and spend $35 on an entrée, however they’ll exit and get a pleasant pie and a lasagna so long as it’s good.
Q. What are your targets for 2010?
A: We’re eager to do 5 shops complete in Broward County. I’ve one (retailer) on the ocean, one to the west and one within the heart. We need to do one to the north and one to the south.
Q. What recommendation would you give an operator in an identical scenario?
A: If individuals would exit and look, the buildings are on the market. The best pizza product on the proper value provides super alternatives proper now for operators.
