The Keys to Refueling Growth in Legacy Restaurant Concepts

The Keys to Refueling Growth in Legacy Restaurant Concepts

The Keys to Refueling Growth in Legacy Restaurant Concepts

As someone who has spent decades in the restaurant industry, I’ve had the privilege of witnessing firsthand the rise, fall, and resurgence of some of the most iconic brands. Legacy restaurant concepts — those brands that were once hot, faded, and are now finding new life — have a unique opportunity to reignite their former glory. In today’s competitive landscape, legacy brands can fuel their growth by embracing both their history and the evolving needs of modern consumers.

What defines a legacy brand?

I believe a legacy brand is one that has been around for a long time, enjoyed popularity at its peak, but may have lost some of its shine over time. These brands often face the cyclical nature of the restaurant industry, where changing tastes and trends can significantly impact a brand’s trajectory. However, the strength of a legacy brand lies in its potential to regain relevance and become a hot brand again, provided it adapts to the current market dynamics.

Facing challenges and embracing opportunities

Many legacy brands face similar challenges such as declining sales, operational inefficiencies, or a failure to keep pace with new competitors. Whether due to changing consumer preferences or external factors such as economic downturns or global events, these challenges can stall growth and dampen momentum.

The key to revitalizing a legacy brand isn’t necessarily starting over from scratch. It’s about refining operations while staying true to the brand’s core values. Identifying what made the brand special in the first place while adapting to new realities can create a path forward. You don’t want to break what’s working. It’s like being a doctor. The first rule is “do no harm.”

Simplifying operations for consistency and quality

Consistency is vital to the success of any restaurant brand, particularly for those with multiple locations. Legacy brands often benefit from simplifying operations to ensure consistency and quality across every location. Streamlining processes, whether it’s adjusting kitchen prep or managing labor more effectively, can result in significant improvements to customer experience and store profitability.

For example, legacy brands may find opportunities to automate or simplify parts of their food production without sacrificing quality. Labor can then be reallocated to areas that provide more value to the customer experience, leading to improved service and consistency across the board.

Balancing innovation with core values

Fueling growth in a legacy brand requires balancing innovation with the brand’s core identity. It’s essential not to make assumptions about what the guest thinks about you. Instead, engaging with customers through feedback and market research can uncover ways to innovate that resonate with loyal customers as well as new audiences.

For instance, introducing new menu items inspired by classic favorites can breathe new life into a brand. Many legacy restaurants have found success by expanding or modernizing their offerings in ways that respect the brand’s heritage while appealing to evolving consumer tastes.

Adapting to evolving consumer preferences

The restaurant industry has seen a significant shift in consumer behavior, particularly with the rise of third-party delivery services. While some operators view this trend negatively, I see it as an opportunity. The restaurant business has always been about quality, service, convenience, and value. If our guests are moving towards delivery, then it’s our job to meet them where they are. I view part of the money spent on third-party delivery as marketing money — it’s an investment in putting our brand in front of people who are actively looking to order food.

Moving forward with legacy brands

Revitalizing a legacy brand is not just about looking back at what made it great in the past. It is about moving forward with a clear vision for the future. The foundation of a brand — its core values and identity — may remain solid, but the landscape around it is constantly shifting. A successful legacy brand must remain flexible by being willing to evolve with the times while maintaining the traditions and qualities that made it great.

For any legacy brand looking to reignite its former glory, I believe the key lies in staying true to your core values while being open to change and innovation. It’s about understanding that while the brand’s foundation is solid, the landscape around it is constantly shifting, and adapting to those shifts is what will ensure long-term success in today’s competitive restaurant industry.

Frank Paci is the CEO of Newk’s Eatery.

Published: November 5th, 2024

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