Monthly Archives: March 2018
Finding the Right Location in Today’s Changing Restaurant Landscape

“Since the Roman times, people have always wanted to ‘see and be seen’ and participate in a community. The experience people seek from a restaurant or entertainment anchor seems to make them more resilient in these changing times, and thus they are now the driving factors behind new developments, as well as developers’ efforts to remodel and increase relevance for existing shopping centers.”—Ashley Robinson.

A hot topic of conversation these days is the closure of America’s malls. But, according to Robinson, higher-end malls are taking advantage of the present retail environment to reinvent and reimagine their shopping centers.

With the big chain retailers that were once shopping mall’s anchor stores going the way of the dodo, fitness centers, indoor entertainment centers, and restaurants are stepping in to fill the role. Make that a lot of restaurants. Robinson references a time when malls only allowed 2 full-serve restaurants along with a mediocre food court in a shopping center of 1 million square feet of retail with 3 fashion anchors. Nowadays, she says, “A restaurant will often be 1 of possibly 7 full-service restaurants, plus a food hall with 7 to 10 unique, fresh QSR concepts with alcohol. Chef-driven concepts are growing more than many chains, and many have paid incredibly high rents that inflated the market to unsustainable rates when the sales dollars are that diluted.”

Many are blaming retail’s demise on Amazon and other e-commerce brands, and rightly so. Almost half of all U.S. households have an Amazon Prime membership. Amazon’s net revenue for 2016 reached $135.99 billion, up from $107.01 billion in 2015. That’s a big chunk of the consumer change. But Robinson believes there’s more to the story than the boom of online spending and that there is a way restaurateurs can take advantage of the changing times.

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How to Identify Locations, Choose a Site, and Negotiate a Lease

If you’ve decided to take the leap and open your own restaurant, you don’t need us to tell
you that you have a lot of work ahead of you! Don’t fret, though. That work is well worth it.
“Everything is negotiable. Whether or not the negotiation is easy is another thing.“
Before you can start thinking of the creative aspects of your restaurant, like the menu,
décor and general ambiance, it’s important to get the nitty gritty out of the way: finding
the perfect place to house this establishment. Read on to find out how to identify the right
location and site, as well as negotiate your lease to get that restaurant started on the right
foot. After all, according to a 2005 study by Ohio State University, approximately 60 percent
of restaurants shutter within their first year, while 80 percent close within the first
five. Make sure the fruit of your labor isn’t part of that 60 percent.
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AceBounce Introduces Wonderball, a New Interactive Ping-Pong Experience

AceBounce, a ping-pong and dining concept debuted their newest attraction, Wonderball – which turns the surface of an ordinary ping-pong table into an interactive gaming experience. Using a digital projector and mapping technology; the Wonderball’s surface becomes a gaming screen that reacts to the ball and interacts with the gamers.

<p”>Wonderball currently offers six gaming experiences – three visually enhanced and three traditional games. “The philosophy at AceBounce is to exceed expectations in everything we do and to constantly innovate – it’s not enough for us to just rely on how fun it is to play ping pong; we aim to create a totally new experience, an AceBounce experience,” says Adam Breeden, Founder and CEO of AceBounce

AceBounce is looking to open 20 new, wholly-owned venues across the world by 2020. “Being at the forefront of the social entertainment industry for many years means we can now encompass a greater range of concepts in different territories. Now is the time to leverage our extensive experience to bring to market more concepts within this fast-growing category, as well as embark on a more ambitious roll out plan.” Adam Breeden

For their US expansion, they are looking towards Emerging Concepts, to ensure they find the best locations. “Emerging Concepts is very excited about expanding the most innovative entertainment company, Social Entertainment Ventures in the United States” says Mathew Focht, CEO at Emerging Concepts.

AceBounce Founder Adam Breeden and Social Entertainment Concepts are also behind the concepts Flight Club opening in Chicago in 2018 and Puttshack.

Using Analytics, Silverspot selects Brookfield, Wisconsin for Midwest Expansion

Silverspot Cinema announced plans to open their first Midwest location at The Corners in Brookfield. The boutique theater shows both Independent and Hollywood films in an intimate setting paired with a variety of cocktails and food options. Owner Gonzalo Ulivi is a third-generation cinema operator whose family still operates cinemas in Venezuela.

Ulivi conceived Silverspot when he noticed a need in the US market. “US cinemas were in need of elevation, there was only one type of multi-plex to serve all types of demographics.” Ulivi and Silverspot have been ahead of the curve as high-end theaters have continued to become more popular in the states.

With three current locations in Florida: Naples, Coconut Creek and Miami (coming soon) as well as a location in Chapel Hill, NC; Silverspot is poised for growth. The decision to expand to the Midwest came at the end of an extensive search process utilizing Acutely, a company that uses a deep learning data intelligence model to determine core customers that influence site selection. By breaking out customers into VIP, Core, and Frequent Visitors, Acutely has helped Silverspot understand their target consumers. This understanding is used when evaluating potential new locations and allows them to come up with more accurate sales projections than have previously been possible. Mathew Focht, CEO at Acutely points out “When choosing a new location, you are making a multi-million-dollar decision. Making a mistake can be catastrophic so combining data intelligence with traditional real estate methods is essential.” Ulivi added that “Acutely has been instrumental in extracting relevant information from our customer data and helping to understand our consumers travel distance.”

The Corners at Brookfield is Silverspot’s next location, but Ulivi has no plans to stop there “We plan on continuing to expand, one unit per year.” Look for Silverspot to open at The Corners in Spring, 2019.