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Thank you. And we also have Clinton Anderson, the CEO of Fourth, who will be moderating the discussion with Jason. So Jason, how about I let you give the audience some info about your background and you can also inform them a little bit about Chop Shop. And after that I'll let you take it from there, Clinton.

My name is Jason Morgan, CEO of Original Chop Shop. We bought the brand name in 2016three unitsand I've grown it to 26. After a quick stint of attempting to be an accounting professional for about a year and a half, I transitioned into gambling establishment property and worked in corporate finance.

I was the first staff member there after private equity purchased business. Assisted grow that from 20 to 150 areas, took it public in 2014, and after that left about a year and a half after going public to do this at Chop Shop. My hope is that we can replicate the success we had at Zos, and we're off to a really excellent start.

We're at the counter, we bring the food to the table. It is primarily protein bowlsabout 40 percent of the mix. We likewise do salads, sandwiches. The key to the program is we have a drink component as well with fresh-squeezed juices and protein shakes. We do all stables, we do breakfast all the time.

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A little more complicated than a few of the walk-the-line principles that are out there, however we think we have actually got something pretty unique. We're going to add another store this year and at least 4 shops next year. So we will be 31 or so stores by the end of next year.

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Hey, everyone. It's terrific to be with you again. My name is Clinton Anderson. I'm the CEO here at Fourth. I have actually been in this role for about 6 years. 4th, as numerous of you understand, is a leading supplier of software solutions to the dining establishment and hospitality industry. Our objective is to help our clients succeed in driving success and being efficientmanaging labor, managing stock, and generally providing them with tools they require to provide their vision.

It's rare to have companies that are cherished and growing quickly, that can duplicate that success every year. Jason, among the reasons I was so fired up to have you join our session is the success at Zos was amazing. I have actually only met a handful of brand names where there was such a strong client affinity for the brand name.

And now you're doing the exact same thing at Chop Shop. When you speak with clients about Chop Store, they love the place. They discuss its distinction. And to be able to take what is a fairly complex concept in terms of providing a fantastic experience for the client, and be able to grow that from a few shops to now north of 30 stores next yearit's amazing.

We're going to speak about how to scale a dining establishment business. Every restaurateur I ever talk to has dreams of taking one store, 2 stores, 5 stores, and turning it into something much biggerexpanding across the city, throughout the state, into multiple states, and eventually nationwide, even global reach. But it's challenging, particularly in today's environment.

It's not an easy time to drive success and growth at the very same time. How do you scale it and make it effective? Second, beyond technology, how do you scale excellent groups?

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The first concern I have for you, Jasonlook, you have actually done this twice now in the restaurant market. What are a few of the lessons you've learned? What has your experience remained in terms of what it takes to really drive success in broadening restaurants? Tell me a little about your course, what you experienced along the method, and perhaps a few of the more difficult lessons you learned.

We talked a bit before we started about LinkedIn, and I've got a post teed as much as follow this next week about what the playbook is likepoint by pointfor growing an organization. To me, among the essential things, and I feel very lucky, is that both brands I have actually been involved with are distinct.

And there's nothing exactly like Chop Store in terms of what we're doing with a large, diverse menu. The majority of brand names today are really singularly focused in regards to what they're using from a food. I seem like we started at an advantage with both brands by having something special that filled a specific niche no one else was doing.

A lot of it begins with the brand name. Does your brand name have something unique that no one else is doing?

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The 2nd thingI originated from a finance background, so a lot of my knowings are more finance and data-driven versus a lot of early start-up restaurateurs who are creative types. They like the food, they constructed the menu, they constructed the brand. I probably could not do that from scratch. If you gave me something that has all those elements in place, I can take it from there and put the playbook in place.

They don't understand their breakeven sales. They do not comprehend how margin enhances as sales increase. I have actually seen so numerous business where the numbers just do not work.

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If you don't have those two things, you should not be building shops. Yeah, perhaps both? Because as I hear your description, you've highlighted three things: execution, brand name distinction, and monetary viability. You've got to start with execution. If you don't have an operating design that works, broadening it simply multiplies issues.

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Second, you need an engaging brand or special idea that resonates with consumers. And another essential lesson is about going into new markets.

However when we broadened to Dallas, I anticipated brand-new stores to do 5070% of Phoenix sales in the first year. Too numerous operators presume brand-new markets will open at complete volume the first day. That almost never takes place. And when the stores open slow, but you've signed leases and developed a financial design based upon greater volumes, you get overextended.