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 method. Koslowski not too long ago opened a 4,700-square-foot retailer by negotiating with the constructing’s proprietor. Consequently, gross sales are constantly 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 offer very, very long-term favorable leases proper now for about 60 cents on the greenback, and we now have the choice to buy the property which we most likely couldn’t have finished 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 lease) for one of these constructing, and I acquired it for $8,000. As an alternative of getting a five-to 15-year lease, I acquired a 30-year lease. Each single factor we needed, the owner was like, ‘Yeah! We wish any person right here.’
Q. You’re providing a prixe fixe household evening menu on Tuesday and Thursday nights. How is that working for you?
A: We actually acquired 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 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 now have 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. Individuals 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 kind buyer come to our retailer as a result of regardless that 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 objectives 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 middle. We need to do one to the north and one to the south.
Q. What recommendation would you give an operator in an identical state of affairs?
A: If folks would exit and look, the buildings are on the market. The appropriate pizza product on the proper worth offers great alternatives proper now for operators.