Recommended
Recommended
More Related Content
What's hot
What's hot (20)
Similar to A Start Up - Grizzelda's
Similar to A Start Up - Grizzelda's (20)
Recently uploaded
Recently uploaded (20)
A Start Up - Grizzelda's
- 2. Background Info Opened November 2016 Second project from the Jacoby Restaurant Group Serves a mix of interior and coastal Mexican food, as well as Tex-Mex Hours Wednesday thru Saturday 5:00 PM - 10:00 PM Sunday 5:00 PM - 9:00 PM Best known for Happy Hour New Sunday morning Brunch Buffet 10:00 AM - 2:00 PM Price Range: $11-30
- 3. Parent Company - Jacoby’s Restaurant Jacoby Family founded Jacoby Feed and Seed in Melvin in January of 1981 - Jacoby Brand Beef Ranch-to-Table dining experience located in East Austin Now family owned by Adam Jacoby and Kris Swift Both attended UT Austin and took advantage of their unique skill sets Adam was business minded while Kris had passion for design and food
- 4. Local Competitors Catedral del Marisco Juan in a Million Los Huaraches
- 5. Local High End Competitors in the area Sawyer & Co. (Contemporary Cajun)Lustre Pearl (Upscale Bar) Justine’s (French, Steaks & Snails)
- 6. Upscale Tex-Mex Competition Downtown El Naranjo - Offers high end authentic mexican on the heart of Rainey St. TNT (Tacos & Tequila) - boasts their simplistic mindset for food and drinks in a modern atmosphere Iron Cactus - Focused on Nightlife being on 6th street while offering pricey, high end food
- 7. Marketing
- 9. Marketing Strategy Happy Hour 5-7 everyday and all day Sunday Very creative website Food is very presentable Atmosphere attracts customer to hold events
- 10. Press & Bloggers Featured in: Eater Austin, The Hungry Chronicles, Culture Map, Austin Chronicle, Bizjournal, Food bloggers
- 12. Location East Austin Up and coming area of Austin Located on a corner across from 7/11 Odd location for a high class restaurant Right down the street from parent company, Jacoby’s
- 13. Rating the Experience WAIT TIME ENVIRONMENT STAFF ATTENTIVENESS STAFF FRIENDLINESS FOOD Up to 2 HOURS OPEN AND RELAXING
- 14. Should we invest? How do restaurants do in this area? Who is the restaurant's target market and are they available here? Is this location viable as business increases? How confident are we in the management? Will the staff be able to upkeep current tempo? How does it compete among the thousands of Austin restaurants? What is the success like in their parent company Jacoby?
- 15. Cons Price is high and quality/portion sizes do not match expectations Main attraction is the bar and atmosphere that it provides more than the food. Neighborhood does not contain target demographic, must reach out to reach audience Heavy competition
- 16. “The only thing not awful about this monstrosity of gentrification is how beautiful it is. The prices are obscene and the food is absolutely not worth it. I had the deshebrada tacos, which was $19 for a basically empty plate save for a small piece of fatty meat decoratively placed on the side that I was expected to slice up and fashion into three itty bitty tacos. Sides are extra. My man had the enchilada casserole dish for $16 and found two razor sharp chicken bones inside. My friend had picadillo tacos for $15, also an insultingly pretentious tiny portion on an otherwise blank plate, and her meat was overcooked and under flavored.”
- 17. Pros Catching the attention of bloggers and press Manager spoke highly about repeat customers Parent company Jacoby’s has already seen success in area Professional staff Differentiated cuisine and experience
- 18. Recommendations 1. Look to improve quality of food Negative word of mouth is about quality of food Possible chef training and increase expectations Implement quality control 2. Differentiate amongst competitors Bar Atmosphere Positive reviews often include consumers talking about how much they love the bar and atmosphere created by the restaurant Emphasize this offering in marketing efforts
- 19. Q & A
- 20. Resources Chaudhury, Nadia. "Embrace the Breezy Beach Vibes at Grizzelda's Mexican Restaurant."Eater Austin. Eater Austin, 17 Nov. 2016. Web. 03 Apr. 2017. <http://austin.eater.com/2016/11/17/13663752/grizzeldas-mexican-restaurant-open- november-photos>. "Happy Hour at Grizzelda's." YouTube. YouTube, 08 Jan. 2017. Web. 03 Apr. 2017. <https://www.youtube.com/watch?v=5Yc_f1l25Dc>. "Now Serving Brunch Buffet." Grizzeldas. N.p., n.d. Web. 03 Apr. 2017. <http://grizzeldas.com/>. "Visit Our Burger Trailer @ South First Food Court." Jacobys Restaurant Mercantile. N.p., n.d. Web. 03 Apr. 2017. <http://www.jacobysaustin.com/>.
Editor's Notes
- Grizzeldas opened in East Austin late November of 2016 and is the second project from the Jacoby Restaurant Group. The restaurant serves a mixture of interior/costal Mexican food, along with Tex-Mex. The hours, although a bit scattered, seem to work for GRIZ due to their popular happy hour. Theyre open Wed-Sat 5-10 pm and Sunday 5-9pm. Additionally, they added a new Sunday morn brunch buffet from 10-2pm to create more flow to the restaurant since restaurants with brunch are on the rise. Finally their prices range from $11-30.
- The Jacoby family founded the Jacoby Feed and Seed in Melvin in Jan of 1981 which kickstarted their Jacoby Brand Beef. They truly believe in a ranch-to-table dining experience serving nothing but quality meat. Now Adam Jacoby and husband Kris Swift own the company. The two met at UT Austin and put their unique skill sets to use when opening Grizzelda’s. While Adam was more business minded, Kris had a passion for interior design and food.
- Most pricey option of Tex-Mex restaurants in the area Other Tex-Mex places in the area are cheaper, lower quality, more traditional Grizzelda’s did a good job at differentiating themselves from other competitors in the area as being a high end mexican restaurant Must pass six other Tex-Mex restaurants/food trucks to get to Grizzelda’s when exiting from I-35 for E Ceasar Chavez Lower price point Multiple Tex mex restaurants in the area Griselda's is the only one that markets itself as a high end Tex mex restaurant and tries to attract people from outside the east Austin area to come enjoy their food Meanwhile the other Tex mex places in the are focus on the local costumers with traditional lower quality Tex mex for a lower price There are other high end restaurants in the area such as these however Griselda's has done a good job establishing a unique cuisine for the area Other high end Tex Mex restaurants exist on nearby 6th st and Rainey st. Such as iron cactus...... and el naranjo.......
- Very consistant mkting across platforms Q we 5 Make sure to mention chef from foodnetwork is talking about them Yelp reviews
- Instagram photos off of Grizzelda’s personal page, very active and mostly food post to show customers what they can get if they come Bright pictures Makes the ingredients on the plate look fresh Fun and welcoming atmosphere or the restaurant portrayed in pictures Carry on vibe of restaurant into instagram
- Food presentation, have a pink theme going on, look at their website,
- Grizzelda’s receives a lot of attention from the press & media. They were even getting attention before the restaurant was open and the idea had only been purposed by the Jacoby owners. Have received a lot of attention from ‘influencers’ and food bloggers The target market that Grizzelda’s is attempting to reach is very similar to that of the bloggers that have visited and wrote post about them. These bloggers then have followers that are Grizzelda’s target market and can bring in their followers. While all of these are good things, this is mainly occurring because they are so new. This marketing by others won’t last for long because soon they won’t be the “new guys”
- Now here is a vlog we found from The Hungry Chronicles where they tell about their experience at Grizzelda’s happy hour This is a popular way for bloggers to give information to the public now and was one of quite a few we were able to find
- The location was found to be a little odd when we were visiting It’s located across the street from a 7/11 and the average income of a household in East Austin is about $50,000 which seems to be a little low for the higher prices that they have on their food. From our experience of going to the restaurant, we found that this was right on the line of the gentrification that is seems to be taking place in East Austin. This could explain the decisions of the placement for the restaurant as they are trying to jump into the growth. The one part of location that did really make sense to us was that the parent company, Jacoby’s, was right down the street from them.
- WAIT TIME: Grizzeldas is known to be a hangout spot for Friday and Saturday nights. But since gaining attraction, they’ve also become very popular on Thursday nights. When speaking to the manager, he informed us that there is often a wait time of two hours on their busy nights. That’s why reservations are very common, because of the high demand, they’ve limited people with a two hours time for their stay - just so others can have a chance to sit down and eat - and allow more customers to come in. ENVIRONMENT: Not only from personal experience, but through online reviews, the provide a very relaxing and open atmosphere. From all the pictures we’ve seen. Grizzeldas has invested a lot of their money on the interior design of their restaurant. From the beautiful bar, outside patio, and down to the plates they serve. They’ve decorated with nature, with leaves and soothing colors, like green, white, beige, marble, and crystals. STAFF ATTENTIVENESS: The waiters and waitress, even the hostess are so nice and kind. Just walking in, looking for your friends, they’ll help you find them - by directing your through the restaurant. “Do you see them, I can help you find them.” Greeted with kindness at the door. The servers are always checking on you, and they have the chips and salsa out asap, filling up your water, before it even hits below half way finished. Willing to walk you through the menu. Overall, we are giving them five out of five stars for both Staff attentiveness and friendliness. FOOD: However, their food is very costly. But for high prices, you need great food. And that’s where Grizzeldas fails. Meredith will be talking more about their foods, later in the presentation, and more in depth on why they’ve received three out of five stars. OVERALL, WE ARE GIVING THEM FOUR OUT OF FIVE STARS. Because they’ve excelling in all areas, but fall short in their food quality.
- Right side is questions we should consider while talking about if we want to invest or not. They do not all need to be read during the presentation. We don’t have current financial information
- First bullet: . . . According to Yelp reviews, as well as personal experience, the food doesn’t live up to the price. This is obviously a problem because people expect a high quality when the price is high, and they have plenty of other options to go to that are cheaper. Secondly, this could be a pro or con, but the drinks and the atmosphere are mainly what drives people here. The negative side of this is that if the food is not a main attraction, the atmosphere may not be enough to sustain the restaurant over time. Another negative is that the income of east Austin is lower than the Austin average, and doesn’t contain the target demographic, which means they have to reach past their region to find customers. There is evidence that this will change over time as Austin grows though. Lastly, the restaurant business is cutthroat, there is so much competition and there is more everyday. In addition, in times of economic downturn, restaurants can be very volatile.
- One of the most negative yelp reviews I found!!
- Same couple comes in for dinner once a week and then now comes for brunch buffet Grizzelda’s has had very good attention in their first few months, and has caught the attention of the Austin ‘foodie’ market. According to the manager, a lot of their customers are repeat, which shows that the success isn’t just buzz and that it should last. The biggest pro for Grizzelda’s is that the owners already have a successful restaurant in the same area. This proves that they will be good business partners who know the business concept well. They will provide valuabe knowledge which takes away some of the risks that new businesses usually face. In addition, the manager has worked in the industry for 15 years, and the waitstaff are professionals not working in the industry temporarily. This provides a stability that increases our confidence in the future. Lastly, grizzelda’s provides a unique experience in terms of food and atmosphere. In conclusion, we agreed that we would invest in this restaurant, but we have a few recommendations for how to improve the business.
- We recommend the following changes that Grizzldas should consider FIRST: LOOK TO IMPROVE THE QUALITY OF THE FOOD. the reason why, is because the restaurant relies so heavily on Word of the Mouth marketing, and having negative WOM marketing around bad quality of food, it implies that you’re not great and gives people a huge reason not to go. Because being in East Austin, it’s not really where you are or how you look, but the food drives people in. That’s where their money is going. To improve this and stimulate a better reputation on their food served, they could train their chief and raise their expecations of what they want to achieve. In addition, they should implement regular quality control. Where they have test taste from professionals - perhaps get Jacoby’s chef to help. SECOND: They need to differentiate themselves. We’ve learned that customers love their bar and the atmosphere, so we believe Grizzldas marketing efforts should focus more on these attributes. Generate more buzz on the bar, talk about how “Paradise is on the end of East Austin,” Because honestly, their restaurant's design makes you feel like you’re at the beach or on vacation. Because the bar is so popular, we recommend an outdoor drink station, because there is room on their outdoor “Patio area” However, another alternative to an outdoor bar, is live music. They have speakers around their outdoor area, but supporting music in audience can attract more customers.
- NEED TO ADD → http://www.point2homes.com/US/Neighborhood/TX/Travis-County/Austin/Central-East-Austin-Demographics.html