Friends of Branded!
Happy Saturday and I hope you had a great week.
My attorneys hate it when I “promise,” “guaranty,” or use Schatzy’s credit card without his permission, but I’m doing 2 of those 3 things in this week’s H^2 (and I don’t have Schatzy’s new credit card number).
So, let’s start with the guaranty, this will not be a typical weekend update.
I guaranty it! Let’s roll!
While Thursday is writing night for me, the theme of this week’s Top of the Fold came to fruition on Tuesday night.
I was down in the lower east side of Manhattan, sitting in booth for 4 with a group of 6, which included a number of longstanding and incredibly talented “Restaurant Guys.” We were several hours into a burger-tasting-tour and the server was being called back to the table so that another order of burgers could be placed.
That lead-in is clearly NOT as good as “It's 106 miles to Chicago, we got a full tank of gas, half a pack of cigarettes, it's dark and we're wearing sunglasses. Hit it," but it does accurately reflect my state of mind when the theme for this week’s H^2 was formed.
Earlier in the day and after leaving a meeting with a private equity firm that shared some staggering performance numbers that one of their portfolio companies was putting up in the burger-space, our fearless leader (let’s call him Dino), ordered an Uber and said we’ve got to checkout one of these burger-joints.
The fact that our late lunch hadn’t even settled yet, and therefore food was as needed as a clock in a Las Vegas casino, off we went to taste some burgers.
Upon arrival at one of the P/E’s joints, a single burger was ordered for each member of our posse. While we waited for the burgers, I asked the incredulous question of why we needed to order a burger for each person as opposed to our sharing a burger or even two burgers among our group?
The response from Dino – “it’s all about the first bite" and we each needed to have that first bite.
The burgers were tasted, respected, consumed, and off to the next joint we went.
Second verse, same as the first! We arrive at the joint; a single burger was ordered for each member of the team. Yes, I received a “look” from Dino, and I knew what he said with his eyes – it’s all about the first bite.
A third and final stop was made, but at this joint, we had staying power b/c we were meeting our host for dinner at his restaurant. Our host, (maybe) mistakenly ordered his restaurant’s “signature dish,” a double smashburger. Yup, one double-burger for each of us to experience that first bite.
The burger comparison was obviously not possible - singles vs doubles?! Unacceptable! We needed to order another round of burgers and compare this joint’s single smashburger to the previous places we visited. At this point, a reasonable person could share a round of burgers, right? Nope, it’s all about the first bite.
For those doing the math, we’re now 4 burgers and 5 smashburger patties in and naturally a debate about the size of the bun used for the double burger vs the size of the bun used for the single burger was discussed (b/c that’s what any reasonable person would be thinking about after consuming 4 sandwiches). There was a one-half inch differential between the buns and the ratio of meat-to-bun IN THAT FIRST BITE became a topic of debate. The only way to solve it (OF COURSE), was to order a round of single patty burgers on single patty buns and double patty burgers on single patty buns.
A healthy (now that word seems incredibly inappropriate here) discussion was then had about the bun-to-burger ratio (we’re taking about a half an inch of bun differential here people).
In full disclosure, I left the group and headed for home when the discussion of the single burger getting two slices of cheese versus the double burger getting three slices of cheese came up and the waiter was asked to come to the table to take the order. As Kenny Rogers said, you gotta know when to hold ‘em and know when to fold-em. I folded.
In the category of TMI (like there’s such a thing in the Top of the Fold at this point), when I got home, I kissed my wife and daughter and went to take a shower. Please note, coming home for a work event and going straight to the shower should rightly invoke a few questions like "who were you with" and "where were you"? Nights like this aren’t my first rodeo and I was continuously sending pictures of the trays of burgers that were arriving at our table.
This was a long lead-in, but let’s dig into this.
As a young man, I worked in restaurants as a member of the front of house team and held most of the jobs on the floor (busboy, barback, waiter, bartender). I left the industry but returned a few years later b/c I truly love it, but this time as an investor. I’m NOT Branded’s “Restaurant Guy,” I’m the “Finance Guy” and it’s the marriage of restaurant and finance expertise that makes our engine work.
While our burger-fest this past Tuesday night was a fun & fulfilling night (it was also full-filling), I’ve also completely simplified it b/c despite how long it took me to get here, I left out the discussions around the fries, sauces, beverage offerings, beverage machines, trays, signage, music, staff, square footage and the countless other specifics that were being analyzed by the experts I was rolling with on Tuesday.
While I was tasting burgers, these subject matter experts were analyzing companies, not from their financial statements, but by their menu offerings and how they each presented themselves to guests.
If you’re not a hospitality subject matter expert, your eyes have probably rolled over much of the above and you were waiting for me to get to my point.
The above is my point.
This level of detail, scrutiny, and examination of an offering in the hospitality industry is essentially the same as analyzing the offerings of any industry. The misunderstanding so many have about the hospitality industry is that none of the words I’ve used in this Top of the Fold article are opaque, unfamiliar, or unknown (although I bet the ‘burger-to-bun’ ratio was new to many of you, and it certainly was to me).
Everyone can relate to eating a burger (maybe not 5 burgers over the course a few hours, but certainly eating a burger isn't a unique experience). To so many and to the certain extent, that includes me, it was a burger, a meal, an indulgence. A good time. For these gentlemen, it was diligence.
Try going to concert with a musician and ask them what they hear, see, and feel. I expect it will be different than what you hear, see, and feel.
Let’s bring back my double-violation of "promises" and "guarantees." I made a guaranty above, so now here comes the promise.
Go sit at a poker table and play with some professionals. Barring any luck and you’re being smart enough to walkaway the moment you get lucky, I promise you will lose money.
This somewhat false sense of familiarity with the hospitality industry is both a blessing and a curse. It’s an industry people are familiar and comfortable with, but it has as complex a workflow, operation, and relationship with its customers as any industry I’ve ever seen. By the way, we don’t even call our customers by that name, we call them “guests.”
The topic of the first bite is something these experts know will give concepts the opportunity to win and it's not remotely limited to burgers. The first bite of a slice of pizza, sandwich, hoagie, sub, grinder, hero, po-boy, baguette, panini, wrap, melt and other quick / casual meals is what separates the winners from the losers. The devil is in the details and like any profession, the experts see and understand what the rest of us don’t.
You’ve heard the expression that “you only get one chance to make a first impression.” The first bite creates an instant experience and judgement. It makes you want to have a second bite (or consider tossing it). The breakdown of the burger’s components is all about the texture, feel, and balance. The first bite is the moment between the anticipation and the reward and the first bite is the payoff for all that anticipation and if its hits, it triggers a strong dopamine response. This is the psychological hook and if it’s amazing, you’re locked in and you’re more likely to enjoy the rest (even if the rest is a little less perfect).
The best burger joints, along with the best sandwich concepts are all about stacking and portioning the ingredients evenly. They know the psychological effect that comes from delivering a great first bite and how it makes the whole meal unforgettable.
Unforgettable meals create experiences that are talked about and shared. Experiences that are talked about and shared inspire people to want to have those experiences for themselves. Word-of-mouth represents the most valuable and attractive cost of customer acquisition strategy imaginable.
Sitting with this crew and watching them dig into (pun intended) these burgers and what each one represented and said about restaurants we visited was incredibly interesting.
When you see people doing anything at the highest level, it’s a moment to appreciate your good fortune and recognize your part of a special experience. Knowledge is cumulative and education is expensive.
On Tuesday night I had the good fortune of being with a group of experts and watching them play their sport. I learned a few things being at those tables (and I love keeping my learning curve steep).
I appreciated having a seat at the table and I look forward to the next “work” outing with this crew (although I would be fine if we pushed it to April so I can let my body fully recover from Tuesday night’s smashburger indulgence).
It takes a village.
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It was such a fun and busy that it wasn’t easy to come up with a short list of shoutouts to give, but here we go!
The FIRST Shoutout is to our friends at Lunchbox and their annual list of the Top 30 Women in Food 2025!
It goes without saying that the Branded Team is excited to see our partner, CMO and Head of Media, Julie Zucker, make this list, but also so many friends make this year’s list as well (and that includes a number of folks that have been a guest on our podcast).
To the recipients of this year's honors, the previous years and to all of the nominees, you represent the amazing women that are helping to shape the future of our industry.
As today is International Women’s Day, it’s only fitting that this Shoutout takes the pole position.
International Women's Day originated from the early 20th century labor movement and demands for better working conditions, voting rights and equal opportunities.
The day highlights progress in women's empowerment, raises awareness about ongoing gender disparities, and encourages action toward a more inclusive society.
Pulled from an article I sourced on the subject, Vladimir Lenin declared March 8 as International Women's Day in 1922 to honor the women's role in 1917 Russian Revolution. The day was subsequently celebrated on that date by the socialist movement and communist countries. The holiday became a mainstream global holiday following its promotion by the United Nations in 1977 (two years before the title image above, the film Love at First Bite (1979), and three years before my The Blues Brothers (1980), reference for those playing the home game). 😊
The SECOND shoutout goes to our good friend, Mr. Christopher Sebes on his lifetime achievement award from the good people at MURTEC. The award is in recognition for Christopher’s remarkable career and contributions to the restaurants technology industry.
Christopher is a visionary leader and a has been a contributor to the Restaurant Technology Network since its formation. He's also a gentleman, wicked smart, unflappable, and almost always seemingly in a good mood.
The award is being presented at this year’s MURTEC conference, which starts tomorrow out in Las Vegas.
By the way, anyone know where I can get a haircut on Monday night out in Vegas? Come to think of it, I think I'd like to get a cut & a cocktail? Any suggestions? Anyone? Bueller? 😊
The entire Branded Team would like to congratulate our friend and partner, Mr. Sebes, on this award.
The THIRD and final shoutout this week goes to another good friend of Branded, one of the industry’s favorite sons and our very own Frank Sinatra, Geoff Alexander.
Out at the IFMA - The Food Away from Home COEX event this week, Mr. Alexander was honored, along with a group of industry heavy-weights, with the Silver Plate Award.
Geoff is the definition of an innovator and a leader. With Wow Bao, he has revolutionized the way we think about emerging brands and positioned Wow Boa as a unique triple-threat with success in brick & mortar, virtual kitchens and CPG.
Geoff is also a generous soul and is giving of his time to his peers, to his community and most certainly his friends.
Since 1954, IFMA has recognized extraordinary operator executives with the Silver Plate Award. Winners are chosen from a slate of industry nominees by a distinguished jury of trade press editors and previous award winners.
As Branded’s good friend and IMFA’s President & CEO, Phil Kafarakis, said at the event, “We feel it is more important than ever to celebrate our extraordinary industry through the Gold & Silver Plate Awards. These are the dedicated people who, in good times and not-so-good times, employ millions and serve food-away-from-home to millions more. From foodservice in schools, airports, hospitals, and convenience stores to traditional chain and independent restaurants, and in many other locations, food-away-from-home is connected to every community and everybody.”
Hey Geoff, just a little toast to you from all your friends, “here’s to you!” IYKYK
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Branded invites readers of the H^2 that are interested in learning more about our portfolio companies, and investment strategies to become part of our Access Hospitality Network.
As for this week, I heard that Vegas set the odds very favorably that I would include here in the Access Hospitality Network (“AHN”) section the coming together of Craveworthy Brands and Big Chicken at -500.
If you took the underdog, I'm sorry, not sorry, you just lost!
On Monday night, this partnership was announced and specifically that Craveworthy was now the managing partner of Big Chicken.
In full disclosure, Branded is an enthusiastic investor in Big Chicken and we’ve also been working closely with Craveworthy. We’re celebrating these two emerging restaurant companies, and I don’t think another restaurant group has grown faster than these two companies over the past two years. The respective Big Chicken and Craveworthy teams are comprised of people the Branded Team respects, appreciates and values. These are folks committed to winning and that’s exactly what we expect to do with both companies.
Our relationship with Craveworthy and Big Chicken started on the tech-side of their respective businesses and our collaborating in support of their leveraging technology & innovation to improve margins and bring efficiencies to their respective businesses.
The time spent working on their respective tech-stacks led to other things and here we are today, as partners with both Craveworthy and Big Chicken.
The ancient Chinese philosopher and founder of Taoism, Lao Tzu, said “the journey of as thousand miles begins with a single step.” The idea behind this quote is that even the longest and most difficult ventures begin with a first step, emphasizing the importance of starting rather than being overwhelmed by the size of the task ahead.
Our journey with Craveworthy and Big Chicken started from our connecting at industry conferences and was thanks to good people who intentionally create opportunities for those willing to show-up, engage and be present (To Conference or Not To Conference).
Below please find a few of the links to the announcement:
- Shaquille O’Neal’s Big Chicken brand joins the Craveworthy Brands portfolio
- Craveworthy Brands Invests in Shaquille O’Neal’s Big Chicken
- Craveworthy Brands becomes managing partner in Shaquille O’Neal’s Big Chicken
Call to action. Anyone interested in discussing the roadmap for Craveworthy and Big Chicken and looking to get involved, the time is now, and I’d be happy to speak with you.
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Featured Episode: Doughnuts, Hustle, and Hospitality: Chris Schultz on Scaling an Iconic Brand
This week on Hospitality Hangout, we sit down with Chris Schultz, a hospitality powerhouse whose career began in the most unexpected place—a Mexican restaurant. From there, he spent 13 years at Starbucks during its explosive growth, helped scale MOD Pizza into a national sensation, and now leads Voodoo Doughnut, where he’s balancing the brand’s counterculture roots with bold expansion into Miami, Los Angeles, and beyond.
Get ready for a deliciously deep dive into Voodoo’s wild doughnut innovations (ever heard of the NyQuil Doughnut?), the magic of 24/7 operations, and why staying funky and fan-driven is non-negotiable—even without delivery! Plus, Chris shares his unexpected obsession with Judge Judy, hot takes on hospitality trends, and how technology is reshaping restaurant operations.
Don’t miss this episode—it’s packed with insights, laughs, and, of course, doughnuts!
Listen now and stay ahead of the game! 🎧
Tune into the episode and subscribe to our channel here: Hospitality Hangout With Chris Schultz
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I get asked every single day for tactics on how to create content and maximize efforts on social media. I personally create a lot of content and advise a lot of restaurants and hospitality tech companies on their marketing, so I do have a lot of experience with this.
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Tick Tock: The Legend of Christopher Sebes—A Trailblazer in Technicolor
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A well deserved congratulations to our friend, Christopher Sebes, a bona fide industry legend.
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Tariffs are in play…until they aren’t. It’s been a head-spinning week of on-and-off tariffs, and it seems there’s no end to the constant uncertainty of “what if” and “now what.”
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That’s it for today!
See you next week, same bat-time, same bat-channel.
It takes a village!
Jimmy Frischling
Branded Hospitality Ventures
jimmy@brandedstrategic.com
235 Park Ave South, 4th Fl | New York, NY 10003
Branded Hospitality Ventures ("Branded") is an investment and solutions platform at the intersection of foodservice, technology, innovation and capital. As experienced hospitality owners and operators, Branded brings value to its partners through investment, strategic counsel, and its deep industry expertise and connections.
Learn more about Branded here: Branded At-A-Glance