Dana Delivers by Aprio Dana Zukofsky

Welcome to Dana Delivers by Aprio podcasts, the podcast that helps restaurant owners and operators learn from industry experts about trends and opportunities. On every episode, Dana Zukofsky, the leader of Aprio’s restaurant advisory team, explores a topic impacting our industry in a candid conversation. And now, let’s hear what Dana is serving up on this episode.







So on today’s episode of Dana Delivers, we have Emily Heintz from Sèchey based in Charleston, but also in New York. And I wanted to have Emily on when I met her last year at FAB at the conference. And I don’t know. The time got away from me, and I realized that this episode is going to be released at the very end of January, on the 30th. So I figured, what better time to have Emily on than to end off the month of dry January? So Emily, thank you so much for joining us.







You’re welcome. It’s so good to talk to you and share a little bit more about what we’re doing at Sèchey. The end of dry January’s perfect. We hope people try dry all year. That’s a good time to be chatting with you about how we’re supporting health and wellness.







Awesome. So why don’t we start with, tell our listeners, who might not have been to your locations yet, what exactly you guys do.







So Sèchey is a nod to the French word for dry. Technically, it means dry-ish. We are an alternative spirits beverage company. We carry multiple brands across the non-alcoholic and functional category. And functional beverages mean there’s something in the beverage besides alcohol to replicate the feeling that alcohol might give you. So maybe ashwagandha for stress relief, CBD, also plant-based Botanics like black ginger. Our store in Charleston carries a variety of these products. And people come to Sèchey because it’s a confusing category. They don’t know what alcohol-free gin tastes like or even looks like. And they come in to learn more about how to drink less and live more.







Right. And that’s, I mean, what’s better? And as I mentioned to you before, when I first heard about your store it was because you were presenting at the conference and you were pouring alcohol-free wine and I was just like, ‘What is this? If I’m going to drink wine, I want wine. If not, I could have water.’ But then I went to the store. And I was just completely blown away by the experience and everything there because it wasn’t a juice store or a mixer shop. It really is so much deeper than that. So besides for just the alt spirits, right, and some of the things that you could mix, like we spoke about with traditional alcohols, you have a tasting area, you have so much more. So how do you curate what the space is besides just an alcohol-free, an alt spirit shop?







Yeah, well, we want everyone that walks in our doors, regardless of their relationship with alcohol, to find something. So we carry high quality bitters, mixers, what I call hero spirits, which are hero mixers that can be used with traditional spirits, wine and beer, or alternative. So as I look at products, I kind of think about, well, flavor first, right? Like we all want something that tastes delicious, but also something that looks great. Like the branding in this category is phenomenal. 







Well, not only the branding in the category, but your store is just so beautiful also.







We want it to be an experience when you come in and to surprise and delight you with the thought of, ‘Okay, I may have a bottle of traditional wine, and I want to keep the party going, but I have an 8am meeting.

Welcome to Dana Delivers by Aprio podcasts, the podcast that helps restaurant owners and operators learn from industry experts about trends and opportunities. On every episode, Dana Zukofsky, the leader of Aprio’s restaurant advisory team, explores a topic impacting our industry in a candid conversation. And now, let’s hear what Dana is serving up on this episode.







And on today’s episode of Dana Delivers, we have Jason Berry with us from KNEAD Hospitality. Jason, thank you so much for joining today. 







Dana, it’s my pleasure. 







Thanks. And I always like to start the podcast with the first time I remember meeting somebody. And now I say, ‘remember meeting someone’ because once, I found out that my first time remembering wasn’t theirs. But the first time Jason, you and I met, we were at, I believe it was Hakkasan. Jeff Brock introduced us. And I think right away, I knew we’d be best friends. You had a growing restaurant group down in DC. My sister was living down there, so I knew there’d be a lot of trips to check out the spot. So why don’t you talk a little bit about you, your background, how you ended up in DC, and then we’ll talk about what’s going on over at KNEAD.







Oh, wow. I’ll try to find the short version. I am from Los Angeles, originally. I am 50 years old this year, which is quite the interesting age to be.







Happy birthday. 







Thank you. Thank you. Los Angeles originally, went to USC undergrad. I majored in entrepreneurship and business and found myself during my 20s, or at least looked for myself. Worked in restaurants from the time I was 15 years old through college waiting tables. After college, thinking about law school, working in the entertainment industry, waiting tables again, traveling the world. And then all of my smart friends were going to business school and I thought, ‘I don’t know what I want to do with my life so I’ll go to business school too.’ So I applied to a bunch of schools. And I got into Wharton, which is a good school in Pennsylvania, in Philly. And I flew out there and found out that I was not the smartest guy in the room. And it was incredibly humbling. I was surrounded by all these brilliant, brilliant 800 people in my class, had a wonderful time for two years getting my MBA and creating an amazing network of people that are still my closest friends. Not all 800 of them, but about 20 of them. And majored in marketing at Wharton. And when I was in school, I was debating between what kind of job I would do. I did consulting for my summer internship for a firm that had a project going on in Buffalo, which was not my favorite city to be in. 







Sounds cold. 







It was summertime, so it was just gross. And my base was in New York. So I would fly to Buffalo Monday to Thursday, and then spend my weekends in New York. So that was fun. And that was 2001, which is during a very tough economic time. So I was just lucky to have an internship at all. And then I was thinking about going back in the restaurant business post business school. And of course, the restaurant industry really doesn’t hire MBAs. So I reached out to Houston’s, which is now called Hillstone. And I had worked for Houston’s pretty business school as a server and a server trainer and opening restaurants for them. And they had offered me a management job, which I had declined at the time to do marketing for another company for a business school. And I reached out to them and I said,

Welcome to Dana Delivers by Aprio podcasts, the podcast that helps restaurant owners and operators learn from industry experts about trends and opportunities. On every episode, Dana Zukofsky, the leader of Aprio’s restaurant advisory team, explores a topic impacting our industry in a candid conversation. And now, let’s hear what Dana is serving up on this episode.







Well, on today’s episode of Dana Delivers, we have Helen Lao, one of my favorite people to talk to, from ClearPath Solutions. Thanks, Helen, for joining. This is a much overdue conversation.







Much. It’s always great to see you, Dana.







Thank you. So Helen, for the few people out there who might not know about you or ClearPath, why don’t you tell us a little bit about you, your background, how it all got started, and then we’ll jump into what’s happening in the restaurant space.







Sounds great. ClearPath solutions, we’re coming on year 12, Dana. Been matching leaders to teams, working with emerging growth brands across the industry, across the US, and feel really fortunate when I take a look at our team. And many of them have been with me for 5, 6, 7, 8, 9, 10 years. And so, shout out to my team, they’re wonderful. And we are continuing to be matchmakers in the industry, and matching up executives, not just with teams, but we’re finding, there’s a lot of mergers happening and opportunities out there. So we’re constantly keeping our ear to the ground, not just for new brands and trends, but also kind of understanding what executive stories are, in terms of what’s changed in their life or what they’re open to. So it’s been a great year for us. And we’re looking forward to an incredible year in ‘23.







Right. No, and I think that’s always been one of the best parts about working with you, is that you really do not just get a resume, that you stop and you listen to what people need. And I usually start the podcast with the first time I met someone. And I know we’ve spoken before about it, but the first time we met was in Vegas at an RFDC a million years back, through Zach Weprin and the guys from Fusion. And even with them when you first met them, I mean, when I first met them, they were young, they were a young brand. They were young guys, and they’re growing so much. So I know you’re not only working with the big guys, like you said, you are into emerging brands. Tell me some of the things that you’re seeing in that space that are just so exciting to you as it comes to those younger emerging brands that you’ve been hearing about? 







Yeah, I think, certainly, everyone’s faced with the same headwinds, right? Whether you’re a small company, big company, in terms of staffing being the biggest one, food costs, and the supply chain, construction. I mean, those are all common threads. But, I mean, the industry is amazing. This is what I love the most, is how resilient the industry is. Everyone remains optimistic, I mean, cautiously optimistic. But I think, as an industry, we’ve been faced with the biggest challenges out there and overcome those. So I think what we’re hearing from brands, whether it’s young or older brands is we’ll make it through this as well. And growth, we have seen growth maybe taper off a little bit as it relates to target. A lot of our brands are saying, ‘Hey, we were originally going to open, maybe 10-12 units, it has now been more like six.’







Slowing down a little bit.







Yeah,

Welcome to Dana Delivers by Aprio podcasts, the podcast that helps restaurant owners and operators learn from industry experts about trends and opportunities. On every episode, Dana Zukofsky, the leader of Aprio’s restaurant advisory team, explores a topic impacting our industry in a candid conversation. And now, let’s hear what Dana is serving up on this episode.







Well, thank you, everyone, for joining us today. As our guest, we have Andrew Glantz, who’s the founder and CEO of GiftAMeal. Thanks, Andrew, for joining us.







Yeah, thanks for having me, Dana. I really appreciate it. 







Of course. So, usually, I start the podcast, any of our listeners know, with the first time I met someone. Although Andrew and I have not yet met in person, he did see that I’m speaking at the Restaurant Finance Conference, reached out to meet and talk and mentioned some of my favorite people that he’s going to be working with. And usually when people name drop, I always am like, ‘Oh, whatever.’ But when you mention certain names, I get really excited. So anyone out there working with GiftAMeal already, I’m excited for you, and whoever is not, Andrew, why don’t you kick it off and tell us a little bit about what GiftAMeal is?







Absolutely. So I founded GiftAMeal as kind of that blend of marketing and giving back. I saw that with restaurants, there were a lot of financial incentives like coupons and discounts and things like that. But there wasn’t a lot out there that was really building an emotional connection between the customer and the restaurant. And I really wanted to find a way to involve the guests in a giveback experience that makes them feel that sense of connection to the restaurant and their community as a whole. And so the basic way the GiftAMeal program works is that the guest simply takes a photo of their food or drink at the restaurant, or at home of their takeout or delivery order, and when they do that, we make a donation to a local food bank to help give a meal to someone in need in that restaurant community. And so the photo is taken for free by the customer either through the GiftAMeal mobile app, which is free, or it can be by scanning a QR code and taking a photo in a web browser in Chrome or Safari without having to download a mobile app for posting it through GiftAMeal, one meal. And then the guests can share on Facebook, Instagram or Twitter. And we give an extra meal for each platform they share on. It’s owned by the restaurant and free for the customer.







That’s unbelievable. And we know that people like to take a picture of their food anyway. So if you’re doing it already, and now you could help out someone who needs it, why not? And Andrew, what was your background? Tell me your background and where this stems from, because just kind of relating it to me, I grew up in a family where we were very fortunate. But my mother made it very clear to us that there were people who are food insecure. We always did have to go to different events, and we did turkey packs for Thanksgiving, and even now I’m super involved in City Harvest because of that. Where did your passion for this come from?







Similarly to you, it’s just the way that I was raised. As early as I can remember, when I was five years old, I was volunteering alongside my parents, and they really taught me never to take anything for granted and to really not just focus on giving back, but treat each person with dignity and respect and recognize the challenges that people are going through are sometimes circumstantial and out of their control. And making sure that everybody has access to opportunities is something that I’ve been really passionate about.

Welcome to Dana Delivers by Aprio podcasts, the podcast that helps restaurant owners and operators learn from industry experts about trends and opportunities. On every episode, Dana Zukofsky, the leader of Aprio’s restaurant advisory team, explores a topic impacting our industry in a candid conversation. And now, let’s hear what Dana is serving up on this episode.







Well, on today’s podcast, we have John Goldasich from Lazard with us. John, thanks for joining.







Thank you, Dana. Thanks for having me. Excited to be here.







Thank you. So Lazard is new to you, so why don’t you tell our listeners a little bit about you, the firm and what you’re doing there?







Absolutely. Yeah, thrilled to be with Lazard. Lazard is a 175 year old global investment bank. They have 41 offices in 25 countries around the globe and have just widely been considered one of the leading advisory firms to companies on Wall Street. They are an independent advisor, they don’t have a balance sheet, and have just always been focused on really specific strategic M&A for leading companies around the globe. I joined back in July to lead the firm’s efforts in the restaurant space and in franchising and multi-unit consumer services. Prior to Lazard, I was with a boutique consumer focused investment bank for the last 16 years where I focused and led efforts in M&A in the restaurant space as well. Very excited to be a part of Lazard platform and have a broader global reach and depth and bring what Lazard can bring to other industries to the restaurant industry.







That’s amazing. And you just hit on the global reach. So before a little more national, now a little global as well. What are you seeing in the marketplace? We’re seeing a lot of slowdown in our M&A practice, right? A lot less QV is going on. Everyone’s taking a beat, they’re waiting for the election cycle. You’re on the other side, you’re the one who’s seeing it before we do. So talk a little bit about what you’re seeing in the market. 







Yeah, we’re seeing the same thing. I mean, I was in London earlier this week, and was pitching on a new opportunity and took the time to meet with some European-based sponsors. And they’ve completely ground to a halt. And they have a much more negative view of the deal environment than we do in the US at the moment. And I think that’s the key term, is that it’s at the moment, it’s momentarily. In the US, I think there’s still pockets of activity, but not in the traditional sense where you have institutional private equity groups that are driving a lot of the deal volume. You’re still seeing some select growth equity financings getting done, you’re seeing family office and high net worth individual investments in the emerging brands. There has been some select strategic M&A. But for the most part, what has driven M&A in the US for over a decade has been private equity volume and at the moment, nobody in the private equity world wants to be the individual that goes to their investment committee pitching a restaurant deal at the moment, just with labor pressures and supply chain pressures and macroeconomic pressures. But I think it’s temporary. And I think everybody that I’m talking to is prepping to get something launched by early to mid next year. But people want to see some visibility into future cash flows in some way, shape or form. And right now, there’s just a lot of uncertainty. And we haven’t even talked about the slowdown in the debt markets yet. But I think that things will pick up and everybody’s eager to deploy capital and eager to continue to support the restaurant industry. It’s just a momentary slowdown.

Welcome to Dana Delivers by Aprio podcasts, the podcast that helps restaurant owners and operators learn from industry experts about trends and opportunities. On every episode, Dana Zukofsky, the leader of Aprio’s restaurant advisory team, explores a topic impacting our industry in a candid conversation. And now, let’s hear what Dana is serving up on this episode. 







So today, we have Kyle with us from KMG. Kyle, thank you so much for joining us.







You’re welcome, Dana. Thank you.







Of course. So, Kyle, first I like to always start the podcast with the first time I met somebody because I think it’s fun to kind of reminisce and let people know that I have a life outside of just this. So Kyle and I met at the Restaurant Leadership Conference. And it was at the suggestion of Tommy Lee, who is my partner here at Aprio, who kept telling me, you have to meet these two amazing people, Kyle and Lauren. And for those of you who listen to the podcast, we had Lauren already, Lauren Fernandez on. And Kyle, it’s your turn today. So thank you so much for joining.







Well, I appreciate it. It should be a lot of fun. Looking forward to it.







Yeah. So Kyle, why don’t you start off a little bit with your background for people who don’t know who you are and what you’re doing?







I am the entrepreneurial kid. I was a neighborhood kid who mowed yards growing up. I had a mom who was very strong and encouraging and said, ‘You know what, you have too much energy to sit around the house. So I need you to get out of the house and do something with all of that energy.’ And so I was the little eight year old kid pushing a mower up and down the street, built that business all the way through college and sold that right as I graduated college. I graduated from Wichita State with a degree in entrepreneurship, took all of that capital, the knowledge that I had, and started a concierge service. For those who don’t know, that’s basically a Johnny on the spot, do whatever you need, calls for whatever needs you have, and we can do it.







So you’re like the original TaskRabbit.







Exactly. But this was Wichita, Kansas, Midwest, right in about ‘07, ‘08, ‘09. And so if anybody remembers that time, it was not the strongest spot for our economy. But I had no idea. I didn’t know any different. So I had a pretty good business, and all of a sudden, everything started to dry up in that I met a former business partner, and he’s like, ‘Well, this company is not doing what you want it to do. What would you want to do? I am coincidentally related to the family that started Freddy’s Frozen Custard & Steakburgers out of Wichita, Kansas, and had an affinity for the brand.’ And I said, ‘You know what? I want to be an owner of that brand and find a good partner to kind of help build that out.’ And so that’s exactly what we did. Over the next five or six years, we opened about five or six locations between Colorado. We then went to California. California was not as fun, as exciting as we thought.







Can’t say I’m surprised.







Yeah.







Any business owners in California.







Yeah, so we took that ball and we went to Florida, which is the most logical place to go when you’re trying to concentrically have an operation team for restaurants. My partner and I parted ways about three plus years ago. And we formed what is now known as KMG Companies. We operate eight Freddy’s between Colorado and Florida. We have divested out of California, thank goodness. Tomorrow we are opening our ninth location, which is why you find me in a hotel room in Colorado Springs.