If you guessed kale or the return of happy hours, I am sorry, but you are incorrect. The future, as reported on the front page of today’s NY Times, is the monetization of the low end of the restaurant industry: http://www.nytimes.com/2015/05/14/business/smallbusiness/mixing-cuisines-mexicue-moves-beyond-the-food-truck.html?ref=business&_r=0
That’s right. The monetization of foods that at one time were the province of folks who knew how to run grills and drive trucks. Mexicue, taking inspiration from the phenomenal success of the public offering of Shake Shack, aims to create food trucks that will yield well-thought out profits, uniformity, and marketing strategies which will in turn inspire others.
Its founders are both business graduates. One with a degree in Business Administration, the other with an M.B.A.
The article reports: “Mexicue’s revenue topped $6 million in 2014, up from $500,000 in its first year in 2-10. Plans are underway to open at least two new restaurants a year in hopes of generating at last $20 million in annual revenue in 2017.”
As word spreads of the successful monetization of food that is cheap to produce and easy to prepare, more business school graduates will find ways to monetize the restaurant world.
And why not?
What will happen is that fewer cooks will be able to capitalize on their cooking unless they pair with the money guys. And there will be a wide split between the consumers who frequent Mexicue or Shake Shack and those who can get into the increasingly exclusive places.
Collateral effects? More people will cook at home. The guys who used to run food trucks will find new types of work.