TRACYDiscussionGood and bad restaurant service experiences?Tipping?Other successful examples of a company’s bottoms-up communication?Personal examples of bottoms-up communication?
JOHNDiscussionExamples of US-based products outside of the US?Differences from US? i.e. McDonald’s serving beer in Germany, Macca’s in AustraliaNext slide highlights a brief exchange between two consultants discussing some key but subtle differences of US-based restaurant located in Europe
RICHARDBUSINESS ISSUESMarket DemandCultural and social factorsInfrastructureSupply chainRegulations and trade restrictions
RICHARD16 million shares of common stock at $11 per share target + cash on handTo retire about $248.1 million in debthttp://www.bizjournals.com/tampabay/blog/morning-edition/2012/08/bloomin-brands-sets-ipo-pricing-at.html$176 million actually generated by IPOhttp://www.foxbusiness.com/industries/2012/08/08/after-shrinking-ipo-scale-blooomin-brands-set-to-debut/
EMBA 711 Outback Steakhouse case with all videos
Company Timeline1986 “Crocodile Dundee” - Australian film starring Paul Hogan as Mick Dundee1987 Multi-Venture Partners, Inc. is founded in Florida by Tim Gannon, Bob Basham, and Chris Sullivan1988 First Outback Steakhouse opens in Tampa, Florida1991 Goes public with 49-restaurants… renamed Outback Steakhouse, Inc.1993 Carrabbas Italian Grill is launched1996 1st Outback Steakhouse opens in Canada1997 Revenues exceed $1 billion1999 Enters JV to develop Roys & Fleming’s Restaurant chains
Growth Drivers…• High Quality Food• Great Service “fully staffed, fully trained”• Relaxed ambiance “Australian theme”• Focus on dinner and suburban locations• Key Partnerships: suppliers, managers & franchisees• Bottom-up communication encouraged
Company Expansion• Growth rate of 70 stores per year U.S. market saturation• Diverse mix of dining options Carrabba’s, Fleming’s, Roy’s & Bonefish Grill• International Opportunities…? International sales generate up to 50% of fast food revenue
What are YourInternational Travel experiences? What Countries?
Key Questions• Challenges expanding outside of the US? Based on regional tastes, culture, religious beliefs, etc.• Does the model translate internationally? Brand, product, work environment, service, etc.
Recommendations• Identify and prioritize countries and regions• Culturally-comparable dietary and dining habits• Discretionary incomes• Identify and develop local managers, servers and suppliers• Start with corporate-owned restaurants while seeking potential franchisees
Where are They Now? 18 Countries Worldwide AustraliaBrazil GuamCanada Hong Kong IndonesiaCosta Rica JapanDominican Republic Korea MalaysiaMexico PhilippinesPuerto Rico Singapore TaiwanVenezuela Thailand