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Thank you. And we likewise have Clinton Anderson, the CEO of Fourth, who will be moderating the conversation with Jason. So Jason, how about I let you provide the audience some info about your background and you can also tell them a little bit about Chop Store. And after that I'll let you take it from there, Clinton.

Thanks Christina. My name is Jason Morgan, CEO of Original Chop Store. I've been doing this for about 9 years now. We bought the brand name in 2016three unitsand I have actually grown it to 26. Prior to this, I have actually spent the majority of my profession in hospitality in some shape or kind. After a brief stint of attempting to be an accounting professional for about a year and a half, I transitioned into gambling establishment residential or commercial property and worked in corporate financing.

I was the first worker there after personal equity bought business. Helped grow that from 20 to 150 locations, took it public in 2014, and then left about a year and a half after going public to do this at Chop Store. My hope is that we can replicate the success we had at Zos, and we're off to a really good start.

We're at the counter, we bring the food to the table. The secret to the program is we have a beverage part as well with fresh-squeezed juices and protein shakes.

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A little more complicated than some of the walk-the-line concepts that are out there, but we think we've got something pretty special. We're going to add another shop this year and at least 4 stores next year. We will be 31 or so shops by the end of next year.

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I've been in this role for about six years. Fourth, as many of you understand, is a leading provider of software application options to the dining establishment and hospitality industry. Our objective is to assist our clients be effective in driving success and being efficientmanaging labor, managing inventory, and basically offering them with tools they need to deliver their vision.

It's rare to have business that are cherished and growing rapidly, that can repeat that success every year. Jason, among the factors I was so excited to have you join our session is the success at Zos was remarkable. I have actually just satisfied a handful of brand names where there was such a strong consumer affinity for the brand.

When you talk to clients about Chop Store, they love the place. And to be able to take what is a relatively complex idea in terms of delivering a fantastic experience for the customer, and be able to grow that from a couple of stores to now north of 30 stores next yearit's amazing.

We're going to talk about how to scale a dining establishment service. Every restaurateur I ever talk with has imagine taking one store, 2 stores, 5 stores, and turning it into something much biggerexpanding throughout the city, throughout the state, into several states, and ultimately national, even worldwide reach. However it's difficult, particularly in today's environment.

Labor is difficult. Stock costs stay high. It's not a simple time to drive profitability and growth at the very same time. We're glad to have you here today, Jason, due to the fact that we're going to dig into that topic. The questions are going to be actually around: how do you grow a business? How do you scale it and make it effective? How do you replicate early success? And from there, after we talk about your experience and the lessons you've found out, we 'd like to then say: well, look, how could innovation help? How can you use technology as a multiplier to duplicate early success to far-reaching success? Second, beyond innovation, how do you scale terrific teams? And finally, AI.

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The first question I have for you, Jasonlook, you have actually done this twice now in the dining establishment industry. What are a few of the lessons you've found out? What has your experience remained in terms of what it takes to really drive success in expanding dining establishments? Inform me a little about your path, what you experienced along the method, and maybe a few of the harder lessons you learned.

We talked a bit before we began about LinkedIn, and I've got a post teed approximately follow this next week about what the playbook is likepoint by pointfor growing a business. To me, among the key things, and I feel really fortunate, is that both brands I've been involved with are unique.

And there's nothing exactly like Chop Shop in terms of what we're finishing with a large, varied menu. Most brand names today are very singularly focused in regards to what they're providing from a food. I feel like we started at a benefit with both brands by having something unique that filled a niche nobody else was doing.

A lot of it starts with the brand name. Does your brand have something unique that no one else is doing?

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The 2nd thingI came from a financing background, so a lot of my knowings are more finance and data-driven versus a lot of early start-up restaurateurs who are imaginative types. They like the food, they constructed the menu, they built the brand.

They don't know their breakeven sales. They do not comprehend how margin improves as sales increase. They do not comprehend cash-on-cash returns. I have actually seen a lot of business where the numbers simply don't work. And yet individuals state: let's open 10 more. And I'll say: why? It does not make money. Stop. You need to find a concept that is distinct.

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If you don't have those 2 things, you should not be building stores. Due to the fact that as I hear your description, you've highlighted 3 things: execution, brand name distinction, and financial viability.

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Second, you require a compelling brand name or special concept that resonates with customers. And third, the mathematics needs to work. If you do not comprehend your system economics, your repaired and variable expenses, you may be broadening blind and losing cash. Exactly. And another crucial lesson is about entering new markets.

When we broadened to Dallas, I anticipated brand-new stores to do 5070% of Phoenix sales in the very first year. Too numerous operators presume new markets will open at complete volume day one.