Dispatch from the field: focus on a strong economic model, but don’t forget the people

Las Vegas – We write from one of the most important restaurant conferences of the year – The Restaurant Finance & Development Conference hosted by the Restaurant Finance Monitor. The RMS team, including John Oakes, CEO; Jana Zschieschang, CMO; Bob Donofrio, SVP of Business Development; Jackie Dorn, SVP of Financial Solutions; and Ivor Davies, Director of Software Development, attended the “dealmakers” event to talk with clients, learn from industry experts and showcase our new financial solution, metiRi.

Todd Penegor, Wendy’s CEO, opened the event. During his discussion with John Hamburger, from Restaurant Finance Monitor, he stressed the importance of finding a balance between striving for a strong economic model without losing focus of the “people part of the business,” particularly Wendy’s franchisees, its team and its guests.

To a packed room, Penegor reported on progress made since his impressive investment in digital platforms in 2018. Kiosks are aiding the ordering process, he said, but retention and training of its people remains important. Similarly, an exclusive deal (for now) with DoorDash provides the convenience customers seek from third-party delivery, but an investment in two dark kitchens will ensure that the people Wendy’s serves are getting the best possible service and will relieve pressure on the people that Wendy’s employs in their restaurants.

He is certain the move back to breakfast will be successful because the initiative is based on a strong economic model and was designed in partnership with the people on the frontlines – Wendy’s franchisees. Wendy’s digital marketing strategy stresses real food and real people and will continue to be a strong brand builder for the initiatives to come.

Penegor’s focus on a strong economic model combined with a focus on the people that make your business stand out is something RMS can relate to. While RMS is focused on gathering and analyzing data, our expert people differentiate our solutions. What a great session to start the conference!

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