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 lately opened a 4,700-square-foot retailer by negotiating with the constructing’s proprietor. Because of this, 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 had 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’ve the choice to buy the property which we in all probability couldn’t have accomplished 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 the sort of 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 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 acquired an excellent deal on the property and that being, we had been in a position to have a really economical menu for our prospects … 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’ve strains.
Q. How is enterprise at your different areas?
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 kind 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 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 analogous scenario?
A: If folks would exit and look, the buildings are on the market. The best pizza product on the proper value offers large alternatives proper now for operators.