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EP 521: $5.5M Burger Business, Gets Into Monthly Subscriptions with BurgaBox CEO Chuck Sillari

EP 521: $5.5M Burger Business, Gets Into Monthly Subscriptions with BurgaBox CEO Chuck Sillari

FromSaaS Interviews with CEOs, Startups, Founders


EP 521: $5.5M Burger Business, Gets Into Monthly Subscriptions with BurgaBox CEO Chuck Sillari

FromSaaS Interviews with CEOs, Startups, Founders

ratings:
Length:
20 minutes
Released:
Dec 27, 2016
Format:
Podcast episode

Description

Chuck Sillari: He was born and raised in Boston and is a graduate of Boston College and Law school. He’s a lawyer and a real estate developer who is currently focusing full-time on the expansion of his nationally known Boston Burger Company – a new e-commerce business called BurgaBox.com. Burgabox is in the process of disrupting both the meal kit industry and full service casual dining experience. Famous Five: Favorite Book? – Quench Your Own Thirst What CEO do you follow? –  Samuel Adams Favorite online tool? — Hotjar Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – “I wish I knew that I should have travelled more and...spend a lot time meeting interesting people because that’s where you get inspiration from”   Time Stamped Show Notes: 01:40 – Nathan introduces Chuck to the show 02:21 – Boston Burger Company’s 2015 revenue is around $5.5M for three locations 02:50 – Chuck has always loved the restaurant industry 03:39 – Chuck jumped into the burger business after 13 years in a law firm 03:45 – BurgaBox opened up in 2009, and Chuck went full-time in 2013 04:07 – “People really loved what we’re doing” 04:17 – BurgaBox was in different TV shows 04:30 – BurgaBox became a must-try destination in Boston 04:50 – Chuck brought on 1 investor 05:13 – The investor approached Chuck for the second location 05:31 – The investor knew about the Boston Burger Company because of its popularity in Boston 05:56 – Chuck shares how much they’ve spent to open up a new location 06:20 – There was no full burger joint in Boston before 06:43 – Chuck shares why the second location costs 10x more than the first location 07:55 – The first location’s growth was $700K in their first year 08:24 – It was 450 sq. ft. 08:30 – It is now doing a $1.85M 09:15 – The amount the investor gets in return 10:00 – Chuck has a good partnership with the investor 10:20 – A restaurant’s gross margin 11:49 – For every dollar you bring in, 20% should go to your pocket 12:09 – The second location will do around $2.5M in 2016 12:27 – Average profit of each restaurant 12:45 – Chuck’s plan for the business 13:03 – Chuck saw how the meal kit delivery industry was booming and wanted a piece of that market 13:20 – The biggest percentage of the diners are tourists and students 13:53 – Chuck started to get into the meal kit delivery in February 14:00 – The meal kit delivery sold around 100 kits in the first month, 2nd month: 150 kits, 3rd month: 400 kits 14:35 – Burger kit’s pricing 15:36 – There’s a subscription: a monthly box or as a gift 16:05 – Shipping process of the burger kits 16:33 – Follow Chuck by checking out Boston Burger and BurgaBox 18:00 – The Famous Five   3 Key Points: Do what you love and people will, in turn, love what you have to offer. Trust and believe in your business partners. Get your inspiration from people – learn and improve from their feedback.   Resources Mentioned: Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel Toptal – Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to the quality of Toptal Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible. Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books. The Top Inbox  – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens and follow-up with email sequences Boston Burger & BurgaBox – Chuck’s business website Show Notes provided by Mallard Creatives
Released:
Dec 27, 2016
Format:
Podcast episode

Titles in the series (100)

Over 10M founders, CEO's, and investors have downloaded this 15 minute daily podcast from Nathan Latka. Each day Latka interviews a software (SaaS) CEO and gets them to share how they've grown (or not) so fast all backed by hard data points. To date, over 1000 CEO's have been interviewed that together do over $6b in revenue, have raised over $5b, and employ more than 180,000 employees. The magazine for CEO's: http://nathanlatka.com/magazine The Book for CEO's: http://nathanlatka.com/bookamazon