What you will learn

Eddie Goitia, CFO at Seven Brothers Burgers, discusses restaurant management, emphasizing prime costs, technology’s role, supplier engagement, and the importance of human interaction for success in the industry.

• Eddie Goitia’s Journey: Shares his 31-year career start with humor, highlighting the evolution of his roles and the importance of understanding prime costs (labor, food, beverage) for profitability.
• Labor Trends and Technology: Discusses the slow integration of automation in restaurants, comparing it to electric cars’ market entry, and stresses the ongoing necessity of human interaction.
• Key Operational Aspects:
  • Managing prime costs for financial health.
  • Leveraging technology and data analytics for decision-making.
  • The importance of effective training and hiring practices.
  • Engaging with suppliers for cost management and optimizing product selection.
• Challenges in Restaurant Management:
  • Inventory management.
  • Overhead costs control.
  • Adapting menu prices to inflation without losing customer satisfaction.
• Potential of AI and Predictive Software: Talks about how AI could revolutionize forecasting and operational efficiency in the restaurant industry.
• Communication and Culture: Emphasizes the critical role of clear communication, setting expectations with employees, and creating a culture that prioritizes customer service and operational efficiency for success.