“What keeps you up at night?” That was the question United States President Barack Obama asked Joe Fugere in 2010. Fugere, founder of Seattle-based Tutta Bella Neapolitan Pizzeria, had an answer at the ready: access to capital. Despite a sterling credit record and a profitable business, most banks wouldn’t help finance Tutta Bella’s growth.
Fugere isn’t the only one in this boat. Recently, we asked pizzeria owners the same question … What keeps you up at night? It seems money matters — big surprise — is at the top of the list.
So with this issue we’ve taken an in-depth look at some of the most pressing financial topics relevant to pizzeria owners today. You’ll find articles on understanding strategies for acquiring capital (page 48), debt management (page 50) and credit card security (page 44). You’ll also learn the importance of regularly examining your P&L (page 52) and what in the world EBITDA happens to be and why you should care about it (page 46).
Since this is a new year, many of you may want a new start. If that includes updating your restaurant with a fresh look, flip to page 30 for our article that examines the numbers behind a remodel. Also, check out Pat Bruno’s piece on menu trends that will be prominent in 2012 (page 38).
If topics such of these are of value to you … allow me to also point out that International Pizza Expo 2012 is just two months away. There, buried within the glitz and glitter of fabulous Las Vegas, you’ll find three days of seminars that build upon the foundations laid by articles such as these.
Lastly, turn to page 56 for an inside look at what we, as an industry, pulled off with Slice of Hope in 2011. Together, 200 pizza companies managed to raise $100,000 for the Karen Mullen Breast Cancer Foundation, a new 501(c)3 charity that helps fund promising breast cancer research studies nationally.
We had so much fun with Slice of Hope that we’ve decided to do it again! Details will be announced in coming months, so be on the lookout for them.
Happy new year!
Jeremy White, editor-in-chief