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 a giant approach. Koslowski just lately opened a 4,700-square-foot retailer by negotiating with the constructing’s proprietor. Consequently, gross sales are persistently hitting $50,000- plus per week at his latest location.
Q. Why open a brand new retailer in an ailing financial system?
A: We have been capable of finding that landlords are keen to present 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 in all probability couldn’t have achieved 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 usually $10,000 to $12,000 (a month in hire) for any such constructing, and I bought it for $8,000. As a substitute of getting a five-to 15-year lease, I bought a 30-year lease. Each single factor we wished, the owner was like, ‘Yeah! We would like any person 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 bought an incredible 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 possibly can 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 wonderful. Thursdays, Fridays and Saturdays, we have now traces.
Q. How is enterprise at your different areas?
A: We even have 16-percent development at our two current 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 gained’t commerce down in high quality. We’ll fi nd that we’ll have The Cheesecake Manufacturing facility kind buyer come to our retailer as a result of although 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 desirous to do 5 shops whole 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 the same scenario?
A: If folks would exit and look, the buildings are on the market. The fitting pizza product on the proper worth offers super alternatives proper now for operators.
