nice ventures

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NICE VENTURES By Muhammad Hanif IPMI EMBA March 2015 Leading Organization Dynamic is a privately held restaurant management company which currently manages three full-service, independent restaurants in San Francisco: Rose Pistola, Rose's Café & Terzo.

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Page 1: Nice ventures

NICE VENTURES

By Muhammad Hanif IPMI EMBA March 2015Leading Organization Dynamic

is a privately held restaurant management company which currently manages three full-service, independent restaurants in San Francisco: Rose Pistola, Rose's Café & Terzo.

Page 2: Nice ventures

Nice Ventures

Nice Ventures was founded in 1995. Its current restaurants under management have received recognition for food, wine, design, ambiance, service, and responsiveness to the needs of their

neighborhoods. Rose Pistola, located in the heart of historic North Beach, won best new restaurant in 1997, and continues to offer regional Italian specialties and jazz four nights a week. Roses Café located in the Cow Hollow neighborhood, is a neighborhood bistro-café which offers a place to bask in the sun at sidewalk tables while enjoying simple Italian-inspired dishes made from the best local ingredients. Located directly across the street

from Rose's, Terzo is open for dinner nightly and features a Pan-Mediterranean menu in a relaxed, casually elegant environment.

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Page 4: Nice ventures

1995• Laurie Thomas friend with Ramsey Smith (Nice

Ventures’s Founder)• Thomas Invest $700,000

1997• Rose’s Café start

1998• Black Cat Restaurant

1999 Smith Problem• NV had taken several large loan for new restaurant and

failed to get off the ground• Overextended, bad counsel and not capable couping

with it.

2000• Thomas Finalize divorce• Management problem in developing food product line• Problem managing Nice Ventures• Black Cat not going well In operation

Page 5: Nice ventures

2001 ISUES• NV need fresh capital to keep operation on track• Bank pull back from MOU due to 11 sept crash• NV failed to get new financing• Revenue dropped doe to travellers stoppages• Sales felt up to 60%• NV not able to secure Bank Credit• Took out $600K annual salary by laying off director operation, HR

Director, several managers and Accountant.• At the same time Thomas invested $750K and paid salary from her

pocket.

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2002• Issued Chapter 11 bankcuptcy reorganization• Black Cat and North Beach as major problems• Late payment on Rent, Vendors and Local Tax

2003• Thomas completed ownership of NV, from Silicon valey to

Restauran

2005• New Deal for Terzo restaurant across street Rose Cafe

2006 AprilTerzo opened

2006Thomas joined Board SF Chamber of Commerce and Golden Gate Restauran associationNV has employeed 130 staff and 3 resto

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2008 ISUES• Problem on Terzo management made Thomas fired its GM• Ben (Rose Café’s GM) temporally assigned as Terzo’s GM• Thomas need Assistance GM for Terzo and planned to do

promotional within• Terzo’s bar ternder, Adam Appointed as AGM• Thomas found that Ben has communication skill and could not

gave Adam support.• Ben has also not able to play dual GM role and worst are he is to

proud to ask for help and take advice.• Adam Failed !. Hence no AGM at Terzo for the moment.

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2008 Problems Continues• NV open job for

floor manager.• Again Ben

Disappointing Thomas by not saying the truth about Sasha (server employee) whom apply for the position.

• Economic continues worsen.Thomas fully

aware that hiring Sasha as GM would threaten Ben and Adam.

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Tahoe Offsite and Multiple Problem

• Jackson blamed Thomas for certain problem that manager was having

• Jackson told Thomas that her management style was very reactive

• Member told Thomas she had a tendency to “just took over and solve problem”

• They accused her as “Bring a lot to the table and have a lot to over, when the truth she has never work in the restaurant”

• Sales plunged in January 2009

• Thomas has to cut cost up to 20% by Eliminating raise and bonus and scale down entertainment and event, particularly at Pistola .

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Problem now is how to deliver messages to her staff about the cutting cost and bring organization back to healthy condition ?

• Eliminate unnecessary spending at all area

• Restructure Management• Keep Tahoe meeting regularly.• Be more efficient

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Thomas as President

Put Thomas as PresidentPROMOTION WITHIN

• Assign Doug Jackson to CEO as He is lot of experience• Promote Sebastian to Executive Chef.• Promote Adam to GM of Rose’s Café• Hire / Promote Sasha to GM of Terazo as she has

previouse experiences• Hire low level staff to fill in vacant positions• Be brave to release Ben caused of his incapability

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Thomas as President

Sasha

PROMOTION WITHIN