So imagine you are an investor in QSRs (fast food concepts) and I have this pitch for you:
“It’s like Chipotle, except for steak.”
(A brief thread.)
“It’s like Chipotle, except for steak.”
(A brief thread.)
“Steak restaurants are a thing but not my specialty. Not my customer, not my price point. Pass.”
“Oh no I am really targeting the Chipotle price point.”
“... With a Salisbury steak, surely?”
“No I mean an actual steak. $9 for a Sirloin combo meal.”
“... No, can’t be done.”
“Oh no I am really targeting the Chipotle price point.”
“... With a Salisbury steak, surely?”
“No I mean an actual steak. $9 for a Sirloin combo meal.”
“... No, can’t be done.”
“Well why not?”
“Food costs for one.”
“So while I’ll have multiple SKUs let’s take the sirloin meal. 150g of steak; an awkward cut and mostly wasted. I can get it wholesale at below $3, my COGS budget. Nothing else on plate costs more than pennies.”
“OK but even if I buy that...”
“Food costs for one.”
“So while I’ll have multiple SKUs let’s take the sirloin meal. 150g of steak; an awkward cut and mostly wasted. I can get it wholesale at below $3, my COGS budget. Nothing else on plate costs more than pennies.”
“OK but even if I buy that...”
“You can’t afford chefs.”
“Yep not going to have them. Everything prepared by the cashiers; typical food service pool.”
“... Have you ever cooked a steak before?”
“Oh I understand the objection.”
“Yep not going to have them. Everything prepared by the cashiers; typical food service pool.”
“... Have you ever cooked a steak before?”
“Oh I understand the objection.”
“Understanding it isn’t an answer.”
“I will aggressively de-skill steak preparation.”
“I have heard the robot pitch before and...”
“No robots. Sous vide and a special oven for crisping. 90% automated.”
“Can’t ask how they want it done?”
“Dial-a-doneness setting.”
“I will aggressively de-skill steak preparation.”
“I have heard the robot pitch before and...”
“No robots. Sous vide and a special oven for crisping. 90% automated.”
“Can’t ask how they want it done?”
“Dial-a-doneness setting.”
“... Suppose I even believe you. No customer ever will. They will think you are doing some Pink Slime nonsense.”
“I will tell cashiers to take raw steak out of transparent display case in front of customer and ask ‘Is this your steak?’ prior to prep.”
“... Still too long though”
“I will tell cashiers to take raw steak out of transparent display case in front of customer and ask ‘Is this your steak?’ prior to prep.”
“... Still too long though”
“So that bit about it being a meal? The rice, curry, and salad will all be in a self-serve line. With detailed instructions and choice of sauces. By the time they are done, boom steak.”
“I will believe it when I see it.”
“I will believe it when I see it.”
And of course the punchline here is “Yep, commercially available in Japan.”
$9 plus $1.50 for the Coke.
$9 plus $1.50 for the Coke.
The company: denver-premium.com
(And while I think this is obvious from form factor, this is an entirely imaginary dialogue. I have never talked to them except to order a steak, which I am still amazed by. Not best ever, but definitely best at $9 ever.)
(And while I think this is obvious from form factor, this is an entirely imaginary dialogue. I have never talked to them except to order a steak, which I am still amazed by. Not best ever, but definitely best at $9 ever.)
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