Thanks for coming to our session. My name is Greg Petrillo and I’m the CFO of Skillet Street Food. Josh and I are going to tell you the story of where we have come from and where -- we think – we are going.The title of our presentation is Evolving Strategy from “Open Doors”. The reference to open doors is one that came from my son, Carl’s high school principal, Kevin Reel. He told Carl that the real point of the college experience was to discover open doors that would provide him access to new experiences and his mission in college was to explore the open doors and turn them into opportunities that would, in fact, form, shape the rest of his life. I love the metaphor and it is a very apt description of our journey in forming a business strategy that is shaping the direction our Skillet Street Food life.A word about my background. I’m a corporate consultant type. Columbia MBA. 20 years IT consulting, mostly telecom. A lot of work with AT&T, seven years in Europe, did a stint at Unisys, several wonderful years with the Walt Disney Company. But none of that is as much fun as trying to breath life into Skillet Street Food.I am going leave it to Josh to give you the color of his vision and passion in creating the company. But here is a quick profile to orient you. We are a small, Seattle-based company that serves amazing food out of a movable Airstream trailer, outfitted as a commercial kitchen. In its original inspiration, serving street food, but now much more than that. We don’t have deep pockets but we are growing -- rapidly – and that brings its own challenges. We’ve provided some revenue numbers so you can see that we really are small. 2010 and 2011 are estimates so take them for what they are worth. 2010 is pretty well baked so I feel more confident about this. But we will explain where and how we see the growth coming and you can form your own opinion.We are going to tell you a bit about how we have dealt with the transformation of a company becoming a brand, how we have been able to create a relationship with our customers that would not have been possible before the advent of social networking technology, and how we have struggled with and are still struggling with being spontaneous and fresh and , at the same time, process oriented and controlled.I’d like to introduce you to my partner, Josh Henderson.
thanks greg…hey everyone, thanks so much for having us here. Before I started skillet I had been cooking on location for photographers and traveling around the US cooking out of an RV. when I graduated from the culinary institute of america I woudn’t say this was my career plan. However when I started ssf in aug 2007 it was a culmination of me becoming aware of an underserved niche that really was true to the craft I was a part of. I felt the niche was street food being done at a higher level.Over the past 5-10 years there has been a definite movement towards us paying attention to where our food comes from and who is cooking that food. with michaelpollans book the omnivores dilemma , as well as chefs becoming more prominent in our world it definitely was a natural progression. This progression of a food culture played a huge part in our initial success on many levels. foodies flocked to us, daily candy had an article about us the day before we opened and time magazine did a piece within the first couple months of us opening. It really struck a chord with folks in an immediate and tangible way. an area I wasn’t really prepared for was the social networking aspect of our business…I remember that when I began, I had the first iphone, and relied on it for sending out a weekly email and communicating… However I was extremely reticent about sending out too many emails to our fans…so when facebook became a bigger part our lexicon as well as twitter, it really changed the game for us. we were able to in a way, “beckon” our customers. People chose to want to hear from us as much as we wanted to communicate with them, and that made it possible for us to really dictate to some degree where our customers found us.the above took…1:43 sec to speak..
Get stats on email open rates, number of facebook and twitter fans.
Keep it RealContinue the guerilla salesEmbrace the Street Food monikerStabilize the Revenue StreamPredictability everywhereConsistent marginsBetter financial controlsExpand the BrandBacon jam for the world!Skillet Diner coming in January 2011 – the first of ….
Skillet Street FoodEvolving Strategy from “Open Doors”<br />Josh Henderson, Executive Chef and Visionary<br />Greg Petrillo, Chief Foodie and Financial Officer<br />
Introductions<br />Who We Are<br />The Original Vision for Skillet Street Food<br />Founded in 2007<br />Building a “populist” street food business – high-end food, mobile delivery, “guerilla” style<br />What Happened<br />The business became a brand<br />Opened new doors – catering, food products, restaurant<br />SKILLET STREET FOOD<br />
Create the Demand: Be the First<br />SKILLET STREET FOOD<br />
Cultivate the Demand: Don’t Make it Too Easy<br />Don’t make it too easy<br />Less is more in so many ways<br />High on novelty / low on saturation<br />Be interesting<br />To our customers<br />To the media<br />Create a dialogue<br />Spontaneous<br />Ask for what you want but be careful what you ask for<br />Be prepared to devote the time: this is important<br />SKILLET STREET FOOD<br />
Follow the Demand: Be Prepared to Open Doors<br />Our business has become a brand<br />Very strong local visibility<br />Reputation as the “elder statesman” in street food, even nationally<br />Good news and bad news<br />Scale<br />Diversification<br />Profitability<br />Customer dialogue opens doors<br />Tilt toward catering<br />Extend to food products<br />Intensification of the food experience<br />SKILLET STREET FOOD<br />
So What is the Strategy?<br />SKILLET STREET FOOD<br />2008<br />2007<br />2009<br />2010<br />2011<br />100% Street Food<br />10% Street Food<br />90% Catering<br />Wholesale<br />Distributor<br />Web Sales<br />Pop Up Restaurant<br />Skillet Diner<br />
Thank You<br />Josh Henderson<br />Executive Chef and President<br />firstname.lastname@example.org<br />Greg Petrillo<br />Chief Foodie and Financial Officer<br />email@example.com<br />www.skilletstreetfood.com<br />