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http://nathanlatka.com/thetop387/

In Episode #387, Nathan interviews Regina Pradham, restaurant owner in Austin, Texas. Regina was set to start grad school when she realized her life was meant to go in a different direction. She started her first restaurant in Austin and now has five restaurant locations that are continuing to grow.

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Famous 5:

Favorite Book? – The 7 Habits of Highly Effective People
What CEO do you follow? — Sheryl Sandberg
Favorite online tool? — LogMeIn
Do you get 8 hours of sleep? — Yes.
If you could let your 20 year old self know one thing, what would it be? — Don’t worry too much to have everything laid out.

Time Stamped Show Notes:

01:15 – Nathan introduces Regina
01:35 – Her restaurant Tarka Indian Kitchen
02:00 – Now they have five locations
02:10 – A goal to have ten locations
02:20 – How she got in the restaurant industry

02:50 – Tarka is cooked-to-order, quick casual Indian food
03:20 – First restaurant experience was in 1998

03:40 – Why people start restaurants

04:05 – A difficult business
04:30 – “There are much easier ways to make money.”
04:45 – How to Run a Franchise – Cody Bradstreet

05:00 – Graduated with an editorial degree
05:40 – Her and her husband bought a building in Austin
06:10 – How they raised money for the building

07:00 – Took out stock in Microsoft
07:30 – Would she recommend the same thing to her kids?

08:00 – They weren’t taken seriously to buy or rent
08:30 – Clay Pit

08:50 – Sold for bottom-line valuation
09:20 – Margins
09:35 – Restaurant and the real estate

10:00 – First-year revenue was above $1 million

10:15 – Price point and location

10:25 – The metrics to find a good restaurant location

10:45 – A Facebook post
11:05 – Looking for deals

11:25 – Average price for a dish is $7-$10
12:00 – Good margin
12:20 – Labor is 32%
12:30 – Rent
13:00 – The breakdown of costs
13:20 – How to decide where to open
14:00 – How to “fake it till you make it”
15:00 – Follow her at tarkaindiankitchen.com
17:15 — The Famous Five

3 Key Points:

Don’t worry about straying from your life plan.
Start a restaurant if you have a passion for the industry.
Research locations where your business will be the most successful.

Resources Mentioned:

Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Freshbooks – The site Nathan uses to manage his invoices and accounts.
Leadpages  – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.

LogMeIn – How Regina keeps track of the numbers for all her restaurant locations

Show Notes provided by Mallard Creatives

The post Restaurant Founder Hits $2m+ Revenue, Doubling Locations appeared first on Nathan Latka.

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