Latest news with #casual dining
The Sun
7 days ago
- Business
- The Sun
Dragons' Den judges called my idea ‘a disaster' & ‘delusional' – now it's worth £40m & I'm opening 100 new restaurants
AN ENTREPRENEUR whose restaurant idea was rejected as "a disaster" on Dragons' Den is set to open 100 new outlets of his popular chain. Alessandro Savelli, who co-founded Pasta Evangelists and currently serves as its CEO, says the chain is aiming to become the UK's "fastest-growing, casual dining hot spot". 5 5 5 Now worth around £40 million, Pasta Evangelists was rejected on Dragons' Den by business experts in 2018 when Savelli and co-founder Finn Lagun asked for a £75,000 investment for a 2.5 per cent cut of the company. Dragon Jenny Campbell even called Finn "delusional" and "a disaster" during their pitch. However, the entrepreneurs have no doubt had the last laugh as their business is now set for major expansion. Pasta Evangelists says it will invest £30 million into new restaurants, creating up to 1,500 jobs. It hopes to open 100 new restaurants across the UK in the next five years, including in the south of England, the Midlands, and Scotland. The company is also aiming to develop a "Pasta Apprenticeship" scheme to attract new staff and help the current workforce develop new skills and knowledge, reports The Grocer. Savelli said: "The demand for our fresh, beautifully cooked artisan pasta is growing. "Our intention is to become the UK's fastest-growing, casual dining hot spot and the hottest place to eat for pasta lovers of all ages. "Sustainable growth has always been our plan. "The hospitality industry is going through tough times at the moment, but we are confident that our business model is robust and dynamic, and the proof of this is we have already bucked the trend with the confirmed opening of five more restaurants in the space of three months, and more to come." Pasta Evangelists enter Dragons Den The chain opened a restaurant in Farringdon, central London, this summer as well as its first outside of the capital in Guildford in July. Three new London locations are set to open in the coming weeks, helping carry the total number of outlets to 11 as we head into autumn. Chancellor Rachel Reeves said the plans were "great news" and highlighted the "dynamism and resilience of British businesses". The restaurant has had a remarkable success story since its Dragons' Den miss. Recalling their appearance on the BBC show, Finn said he was "shaking life a leaf" before walking out to pitch his business. He added that he was left devastated by the business experts' "vicious" comments. Speaking to The Sun in 2023, he said: "I never would have expected to be called a ' disaster' or 'delusional ' on national TV - they were vicious things to say to a young entrepreneur. 'To use that kind of language against a young, passionate person was dismaying. I would never talk to any young entrepreneur like that." Despite their lack of faith in the business, the Dragons are no doubt feeling red in the face now as Pasta Evangelists is one of the UK's biggest fresh pasta companies. It has also earned the highest praise from many voices, including chef Gordon Ramsay. SCARRED BY EXPERIENCE ON DRAGONS' DEN While Pasta Evangelists has gone on to huge success, Finn says he's still scarred by his experience in the Den. "We received an extremely strong, negative, visceral reaction," he says. 'I was 24 years old when I went on Dragons' Den, so for a seasoned entrepreneur like Jenny Campbell to call me 'delusional' and a 'disaster' was so vicious... Jenny was savage. 'At one point she said, 'I like it' and I replied, 'Thank you', only for her to say, 'I like it because it's a brilliant business lesson in how not to set up and run a business'. 'I was mortified, I felt like an idiot having grinned at her and thanked her. She was deliberately trying to take me for a ride for entertainment.' Finn adds: 'I don't want to sound like the Virgin Mary but if the tables were turned and I was Jenny Campbell, I would have apologised. 'If I saw the business had turned into the UK's biggest pasta company in a few years I'd say, 'Well done, you defied expectations' and maybe even offer a little contrition or an apology.' 5 5
Yahoo
08-08-2025
- Business
- Yahoo
Applebee's sales turn positive for the first time since early 2023
You can find original article here Nrn. Subscribe to our free daily Nrn newsletter. Applebee's same-store sales turned positive in the second quarter, and you'd have to go back to Q1 2023 to witness the last time that happened. The casual dining chain has limped through the past two years amid an intensifying value environment and relentlessly high cost inputs, not to mention the meteoric, marketing-led success of its closest competitor, Chili's. Applebee's has worked to rightsize and modernize its portfolio, adjust its value strategy, more strongly position itself top of mind, and enhance menu offerings, and this work now seems to be paying off. On Wednesday, parent company Dine Brands reported that Applebee's second quarter same-store sales increased 4.9%, primarily driven by traffic, according to chief executive officer John Peyton. The pendulum began to swing positively in March and has continued through July, he added, with guests responding favorably to Applebee's 2 for $25 menu. That menu was part of the chain's strategy adjustment last year. Following extensive consumer research, Applebee's learned the platform was a strong differentiator and resonated with guests seeking value. The company refreshed the menu by adding a new entrée each quarter, including Sizzlin' Skillets in March and Chicken Parmesan Fettucine in July. The introductions, Peyton said, not only appeal to core consumers, but also capture 'the next generation of loyal guests.' 'Pairing new menu innovation with the 2 for $25 value platform is a key contributor to our traffic and sales growth,' he said during the company's earnings call Wednesday morning. Applebee's has also worked to bolster its off-premises business with national campaigns, yielding positive sales and traffic growth in the channels every month, including a 7.6% year-over-year increase in sales. Off-premises sales at the chain accounted for 22% of sales mix in the second quarter, representing per restaurant average weekly sales of approximately $12,800. Another tailwind has come from the chain's sharpened focus on social media to make it a central element of its overall marketing. As part of this strategy, the company brought most of its social media team in house. Peyton said engagement across all channels, including TikTok and Meta, has increased by triple digits. 'These figures show the benefits of our more agile in-house-led approach to social storytelling and the impact of meeting culture in real time,' he said. Finally, Applebee's continues to progress on its Lookin' Good reimaging program, which is a multi-year effort to modernize the brand. Peyton said nine of the chain's top 10 franchisees, or about 75% of the system, have elected to accelerate remodels, with more than 100 expected to be completed by the end of this year. This is up from about 60% of the system who committed to remodels last quarter. Because of these tailwinds, Dine Brands lifted Applebee's same-store sales outlook for the year to 1% to 3%, from its previous range of -2% to 1%. 'We're pleased with our Q2 performance and positive comp sales, positive traffic, and growing momentum across operations and marketing,' Peyton said. 'All of this reinforces our confidence that we have the right strategy in place. But we're not satisfied because we know we have more potential, and the team and franchisees are energized and ready to press ahead to become even more relevant and competitive.' Contact Alicia Kelso at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
