Don’t give up! A simple fix to save a failing business
Chef Fuji of Standard Burger attends the Blue Moon Burger Bash presented by Pat LaFrieda Meats hosted by Rachael Ray – Food Network & Cooking Channel New York City Wine & Food Festival presented by FOOD & WINE at Pier 92 on October 16, 2015 in New York City.
“Branding is everything,” Simkins said. “Branding truly is creating a mark of value that says, ‘I have to have this.’ ”
One Staten Island burger joint learned that lesson the hard way.
Standard Burger was losing $5,000 a month and the owners couldn’t pay the bills. However, they were far from alone in their plight; according to the U.S. Bureau of Labor Statistics, half of small businesses close their doors within five years of launching.
The old Standard Burger lacked management, quality ingredients and recipes. Moreover, it didn’t have an ‘X-factor’ that differentiated it from any other restaurant. In trying to keep their business afloat, things like having cool decor and a fun atmosphere were the last thing on the owners’ minds.