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 means. Koslowski lately opened a 4,700-square-foot retailer by negotiating with the constructing’s proprietor. Because of this, gross sales are persistently hitting $50,000- plus per 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 keen to provide 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 carried out 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 received it for $8,000. As an alternative of getting a five-to 15-year lease, I received a 30-year lease. Each single factor we wished, the owner was like, ‘Yeah! We wish 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 received an amazing deal on the property and that being, we have been in a position to 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’ll be able to 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 strains.
Q. How is enterprise at your different places?
A: We even have 16-percent development at our two current eating places, 2009 versus 2008. Every retailer grew by 16 %. 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 targets for 2010?
A: We’re desirous 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 wish 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 worth provides great alternatives proper now for operators.