JUNE 2024
Hospitality Insights & Trends
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Want To Expand Your Brand? Consider Franchising!
You have one location and are killing it: your buildout and operation costs are far less than you expected, while your revenues, and relatedly, your profits, far exceed your wildest dreams. You are thrilled by your return on investment and what you have achieved. You now want to get bigger—much bigger.
But you realize that there are certain challenges ahead. In particular, you have limited capital and are concerned about your ability to raise funds from friends and family. You also are not inclined to take out one or more loans from a bank and/or another lender because of high, cumbersome interest rates.
Client Alert: New Law Authorizes Outdoor Dining Approvals and To-Go Cocktails
On April 30, 2024, Massachusetts Governor Maura Healey signed a new law that will expedite outdoor dining approvals at the local level and authorize licensed restaurants to serve cocktails “to go.”
The new law codifies certain pandemic-era authorizations related to outdoor dining and to-go cocktails and will now be reinstated permanently in certain capacities, including exemptions on outdoor dining regulations from certain state zoning regulations, and the removal of the Alcoholic Beverages Control Commission from the outdoor dining licensing approval process.
Restaurant Trends 2024
We can't believe it's already been a month since we packed the Haymarket Lounge at Boston's City Winery for Restaurant Trends 2024! It was great to connect with so many industry colleagues and friends to share thoughts on the challenges owners and operators face in a competitive market. Looking forward to next time! Check out the full recap here.
RECOMMENDED READING
Eat a Peach: A Memoir
By David Chang
In 2004, David Chang opened a noodle restaurant named Momofuku in Manhattan's East Village, not expecting the business to survive its first year. In 2018, he was the owner and chef of his own restaurant empire, with 15 locations from New York to Australia, the star of his own hit Netflix show and podcast, was named one of the most influential people of the 21st century, and had a following of over 1.2 million. In this inspiring, honest, and heartfelt memoir, Chang shares the extraordinary story of his culinary coming-of-age.
“With humor, pathos and heaping spoonsful of self-deprecation . . . Eat a Peach is an honest, ugly, raw dish of a book.”—The Wall Street Journal
“An honest and vulnerable autobiography that will have you laughing and crying at the same time . . . an absolute must-read.”—CNN
“An entertaining, admirably candid self-assessment of life in the foodie fast lane.”—Kirkus Reviews
“Foodies and chefs alike will dig into Chang’s searing memoir.”—Publishers Weekly (starred review)
RECOMMENDED LISTENING
A Deeper Dive: The Biggest Trends in the Restaurant Industry Right Now
May 22, 2024
In a recent episode of "A Deeper Dive" from Restaurant Business, Joe Pawlak from Technomic discusses the biggest trends shaping the restaurant industry in 2024. Key points include the impact of inflation on menu pricing, the ongoing challenges with labor availability, and the significant role of technological advancements in operations. The episode also highlights the competitive landscape among chain restaurants, emphasizing which brands are performing well and the strategic shifts being made to adapt to current market conditions
INSIDE RIW
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RIW presented the 30th annual Restaurant Trends event at Boston's City Winery
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On the latest episode of Transaction Talk, RIW attorney Eric Sigman and business broker Jennifer Fox interview immigration attorney Shiva Karimi about the intricacies of E2 visas and business immigration law. Listen here.
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RIW sponsored and attended the John & Abigail Adams Benefit, the signature fundraising event of the Boston Bar Foundation.
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Corporate and Hospitality attorneys Kelly Caralis and Bethany Grazio attended the Women In Hospitality Conference
CLIENT NEWS
Congratulations to RIW clients:
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Tavern in the Square on the grand opening of their Weymouth, MA location
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Kal Gullapali on his cover story in the June/July issue of Franchise Times
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Brassica Kitchen, Ledger Restaurant & Bar, and Prima for being named to Open Table's Top 100 Brunch Restaurants of the year
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Field & Vine, Nightshade Noodle Bar, Row 34, and Tonino for being named to the list of "25 Best Restaurants in Boston Right Now" by the New York Times