Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
After 22 years offering eat-in and take-out dining in south Minneapolis, Broders’ Cucina Italiana is adding delivery service, starting with two test neighborhoods.
Owner Molly Broder says the poor economy since 9/11 and competition are two reasons. “It’s always hard to stay in front of the public eye, and when there are many options, how do we get to be the No. 1 option constantly,” she says.
Also, a parking ban on one or both sides of 50th Street, where her business is located, is slated to take effect this summer. “This is something that’s a death knell for our business. We’re trying to get out in front of that,” Broder says. She also operates a full-service restaurant, Broders’ Pasta Bar, across the street.
Broder worked on the idea for about six months. She needed to buy a new point-of-sale system, so she made sure to select one that incorporated delivery. They dropped fliers in two neighborhoods to start, and added two more a couple of weeks later. “From the reaction we’ve gotten just this week, I think it’s going to be a turning point for our business,” Broder says. She aims for about a 30 percent increase in overall sales.
Whether delivery service will be profitable is the unknown, because expenses are high, she says. “There are higher workers comp costs, we’ve got more liability out there with employees on the street. And we’ve got employees who are staffed to simply wait for the phone call,” Broder says. “But other than that our overhead is fixed so if we can build our volume I think it can work.”
She tried adding delivery service about 15 years ago, but stopped after most customers ended up driving over to pick up their food. She believes that an overall increase in the restaurant’s profile is helping this time around.
“I think we have a broader audience, a better reputation,” she says. In a similar way, the retail sale of specialty grocery items wasn’t popular when the store first opened, but in the last several years that part of the business has grown.
Molly Broder, Broders’ Cucina Italiana: 612.925.3113
