jersey mike’s menu: I was sitting on a park bench, with my dog and a cup of coffee when I noticed something odd: some old man with a bag of potatoes had just walked by. He was wearing a jersey mike and I couldn’t imagine what he was doing with all that potato money.
After some thought, I saw that his face looked like it was full of potato riddles.
So I asked him “Do you know any riddles?”
He said no, but that he could recite one in his head. As we were sitting there on the bench, he recited it to me: “Who is the most beautiful woman in the world?”
I told him “I don’t know!” He tried another question: “Who is the most handsome man in the world?”
This time too I answered: “I don’t know!”
Then he asked me who is the most honest person in the world?
I thought about it for a while and then said “I don’t know!” Then he asked me who is the most famous person in the world? We both laughed at that one and then he said, “OK. How about you tell me what you think is your favorite food?”
Now this made sense to me because my dog had already eaten half his potato bucket before we started talking. So all he was asking me were simple questions based on common knowledge and good taste. These were questions you would ask anybody who has been to an Italian restaurant or knows their pizzaiolo from their pizzaiolo già di persona (as they say in Italy). But still, I knew there must be more to it than that – because this guy had just walked by with potatoes; so I asked him about my favorite food…
We talked for a long time about food, our family history (which included four generations of Italians), our favorite restaurants (which included many Italian restaurants) and even our favorite foods from our own country (i.e. pizza). We also talked about how much we knew about politics and all kinds of historical events which happened during his lifetime (and through which countries).
At some point we turned to politics – so we talked about how we liked parties like UKIP, why they are wrong-headed, who are the better candidates for UKIP memberships – and why people support them anyway.
2. Jersey Mike’s History
To understand how to pitch a startup, you have to have some knowledge of the history of the company. It is also a good idea to talk about it at least once if you are going to pitch investors. A lot of people think that in order to get a job at McKinsey, you need an MBA. That’s not true — and having an MBA doesn’t mean anything if you can’t tell what “McKinsey” means.
Jersey Mike’s Diner was founded by a bunch of guys who were friends who were looking for something new — which is why they started out by selling hot dogs and burgers at street corners. They spent years trying to figure out what a diner was and what made one successful, and they found that customers wanted quick service (they also wanted to be able to stay indoors during the winter). They were able to achieve both without making any large investments in technology or staff — so they built it the way they saw fit, using their own spare money (the majority of their revenue came from catering events).
They did this because they didn’t want people coming in just because it was convenient; they wanted them coming in because it made sense for them to do so. They didn’t want “customer service”; customer service meant doing things for them when they came in (which is why Jersey Mike’s never has any employees behind the counter). Their food was different from fast food: it was fresh, made with quality ingredients, served quickly (because even though customers often ordered multiple items – sandwiches, salads, soups – Jersey Mike’s never gave them more than one order per customer).
They kept this philosophy up until very recently: today there are over 100 Jersey Mike’s locations around the world (they even have franchises in Japan) and some of those restaurants now employ over 100 people too (the rest are franchisees or owned by third parties).
The main reason that people don’t know about Jersey Mike’s is not that we’ve changed our menu or business model since we started: it’s just that no one has written about us before now. Which makes sense: we’re boring! Our Facebook fan page isn’t filled with selfies of us hanging out on the beach or playing golf.
So if anyone reading this thinks they can write something interesting or insightful about our company tomorrow after I’ve pitched them my story — well then let me
3. Menu Prices
Jersey Mike’s menu is a great example of how to price your menu items to make sure that those who are most likely to buy them — people who are already in your target demographic — actually do.
Broadly speaking, the way to price your menu items is by pricing them based on exactly the number of people shopping for that product:
• If lots of people are buying it, then it is worth as much as or more than lots of other products (like socks and t-shirts) • If few buyers are buying it, then it is worth less than some other products (like vegetables and small dogs)
You should always set your menu items using the same scale and keep this in mind when you try out different prices. You want these prices to be as close to each other as you can get without being overpriced (in this case). This means that if you want 10 customers, you need at least 10 items that sell for $9 each; and if you want 100 customers, you need at least 100 items that sell for $9 each. If they are all selling for $9 each, then they must be within a factor of their top price; otherwise they won’t sell well at all. People don’t buy salads because they are cheap! They buy them because they taste great. And by offering more choices than standard salad dressings (which usually cost more), you can gain more shoppers by cutting down the competition for them.
This will vary depending on what type of business model your startup is running: if you are focused on a one-time sale only (i.e., not recurring), then a high percentage of sales from this type of sales channel will take place on the day when the item sells. On the other hand, if a recurring subscription or membership system is in place, then this percentage doesn’t need to be so high (in fact, most retailers use a lower percentage). If there isn’t enough data about this yet, we would suggest finding data suppliers and doing some research yourself first before deciding how much data to use. Doing research yourself makes sure you don’t waste money on things like cookies or chips in lieu of actual good data!
4. Jersey Mike’s Delivery and Catering
Jersey Mike’s Delivery and Catering is a delivery service that was founded by Jersey Mike’s ice cream franchisee Mike Price, who in 2015 opened a second Jersey Mike’s location in the South Beach area.
Jersey Mike’s Delivery and Catering has been embraced by the community because they provide quality food at an affordable price, in a convenient and clean environment. As of July 2017, Jersey Mike’s Delivery and Catering offered delivery services to 12 cities (a number which includes Miami). There are currently plans to expand to additional markets nationwide, as well as further international expansion.
The success of Jersey Mike’s Delivery and Catering lies in their ability to offer high quality food for lower prices than many fast-food restaurants. They are able to do this because they use only fresh ingredients from local sources — no preservatives or artificial ingredients — resulting in fewer calories per serving than other fast-food restaurants.
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In general, the two best things that can happen for a startup are either getting funded or finding a good product. I’ve always been very fortunate in that I’ve been able to achieve both of these goals. In my experience, if you have one of these two things happen, you should be able to get on with your life.
The best way to get funding is usually through a seed round. This is where a few thousand dollars come into play. The seed round will put your business (your idea) on the map and let other potential investors know there’s at least some chance they could be interested in your product if they put enough money up front. This is also where you can start doing more research on potential investors and market conditions so you have a better idea of what you’re dealing with when it comes time for negotiations.
If you don’t get the money through seed, then it’s time to start thinking about whether the market for what you’re building really exists or not. You may want to find out from other companies or from people who might know more about similar products since there are at least three levels of possible failure: 1) existing market doesn’t need your product, 2) existing market doesn’t need your product but there’s an opportunity for you to increase your sales by adding value (e.g., marketing), 3) existing market does need your product but often has several obstacles preventing it from being able to buy it (e.g., user experience).
For example: someone else has already done this kind of thing pretty well and now they’re offering something similar but with some enhancements that make it better than what someone else has done before (or different). If this is true, then if they put enough money up front, they’ll probably be able to validate the value proposition by going through customer feedback and iterating until they have something that’s right for their company and customers; if not, then they won’t be able to do so successfully either (they’ll either end up giving away their investment or having too little money left over after paying off their investors).
On the other hand, there are many products which don’t fit into any category above because much of what we do is still relatively simple stuff: we offer things which already exist but because the price is too high relative to how much we offer them when compared with how much someone else does in similar areas, we can’t make much profit from them yet —