1. Ballad of a mad cafe.
- Author
-
Trachtenberg, Jeffrey A.
- Subjects
RESTAURANTS ,MARKETING strategy ,SALES promotion ,BUSINESS planning - Abstract
This article presents information on the Hard Rock Cafe, situated in Manhattan, New York. This restaurant expects to do $1.2 million pretax on sales of $7 million in 1984, with pretax margins of 17%. That compares happily with an industry average of 4.2%. The restaurant owner Issac Tigrett says that savvy marketing, is the marketing strategy of the cafe. It also helps to have such partners as Yul Brynner and Dan Aykroyd, who have put not only their money but also their social cachet on the line. Convinced that London, England was ready for American hamburgers and ribs, Tigrett and partner Peter Morton opened the cafe in June 1971. The two had $45,000 in funding--$5,000 each and a $35,000 loan from a European bank.
- Published
- 1984