S2E45 - Why Less is More: Slimming Down for Big Wins with CEO of Shootz, Harold Isaac Walters

About the episode

Harold Isaac Walters, CEO and co-founder of Shootz, shares his journey in the food and beverage industry. Shootz is a Hawaiian Asian fusion restaurant that specializes in fried chicken katsu. Harold's background in tech and e-commerce influenced his approach to running Shootz, focusing on data collection and digital marketing.

He emphasizes the importance of having a solid tech stack, starting with a POS system and then incorporating tools for COGS, labor, loyalty, and marketing. Harold also discusses the challenges and lessons learned in scaling the business, including the importance of having a solid model, prime cost management, and a strong culture.

Harold Walters also shares insights on scaling a restaurant business. He emphasizes the importance of focusing on what works and doubling down on successful aspects of the business. He also highlights the challenges of incorporating technology into operations and advises being mindful of the costs and potential complications.

Walters discusses the shift in his vision for Shootz, from aiming for a $100 million exit to aspiring to become a billion-dollar brand with 100 locations by 2029. He emphasizes the need to define the vision and create an environment for growth within the company.

Takeaways

• Having a solid tech stack is crucial for running a successful restaurant, starting with a POS system and then incorporating tools for COGS, labor, loyalty, and marketing.
• Data collection and digital marketing are essential for restaurant success, especially in the digital age.
• Scaling a restaurant requires careful consideration of prime cost management, building a strong culture, and making strategic decisions about locations and menu offerings.
• Having a clean slate and a willingness to learn can be an advantage when entering the food and beverage industry, as it allows for fresh perspectives and open-mindedness.
• Profitability is key in the restaurant industry, and all decisions should ultimately contribute to the bottom line. Identify what is working in your business and double down on those aspects for greater success.
• Be mindful of the costs and potential complications of incorporating technology into your operations.
• Define a clear vision for your business and create an environment for growth.
• Reverse engineer your goals and work backwards to determine the necessary steps to achieve them.

Timestamps

00:00 Introduction and Background 01:35 What is Shootz? 04:06 Applying E-commerce Experience to Shoots 07:12 Learning about and choosing restaurant tech platforms 11:26 Questioning restaurant owner on marketing tech stack 16:18 Order of priorities in business expansion 22:30 Analyze top sellers, focus on profitability, scalability 23:40 Tech isn't a solution to all problems 25:27 Navigating the Challenges of Technology 29:11 From a $100 Million Exit to a Billion-Dollar Brand 33:06 Importance of clear, authentic, and big vision 37:35 Theming days for productivity and focus 40:10 Refining operations, technology, and vision for growth 42:50 Where to find Shootz and Harold Isaac Walters