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IE Business School Profs On How Fancy Restaurants Make Money

Four IE professors are speaking at MadridFusion, three days of events for the foodie world, running this week

They say it’s one of the toughest industries to turn a profit in, but every year thousands of people from investment bankers to stay-at-home moms open restaurants in the belief that their culinary touch will prove irresistible.

How do you run a restaurant kitchen (as opposed to a home kitchen) efficiently? How do you deal with fluctuating food prices? Does the availability of exciting food on the internet pose a threat to restaurants?

Professors from Madrid’s IE Business School will be on hand to answer all these questions and more at the city’s MadridFusion event, which takes place between 25th and 27th January (so, starting today!)

We’d never heard of MadridFusion but it looks like it’s a three-day feast of talks and tastings from the world of “chef restaurants”. We’re not talking Applebee’s here: speakers include Ferran Adria (head chef of El Bulli, the world’s best restaurant) and Carlo Petrini, founder of the slow food movement.

With sessions titled “Vegetable Provocation” and “The New Culture of Cold”, it’s definitely one for hardcore foodies.

Here are the details of the IE professors who are running workshops at MadridFusion. When you go on the event website, click on “Conferences Tastings” to find out more

25th January
EFFICIENCY AND PRODUCTIVITY IN THE RESTAURANT INDUSTRY: THE BENIHANA CASE
Speaker: Luis Solis.
These sessions given by Professor Luis Solis use simulation to show participants how to optimize internal processes in their restaurants in order to achieve greater cost efficiency.

26th January
SOCIAL NETWORKS AND THEIR USE IN THE RESTAURANT SECTOR
Speaker: Manuel Alonso Coto
How to leverage opportunities provided by the Internet.

THE CASE OF DEAR CARMEN: A DIFFERENT WAY TO BREAK INTO THE RESTAURANT BUSINESS
Speaker: Enrique Sánchez.
The experience of a company created to distribute high quality culinary products through the Internet.

27th January
YOU´RE GREAT….BUT NO-ONE WILL REMEMBER YOU
Speaker: Juan Pablo Vázquez.
Although creativity is the best way for a chef to become well-known, a great number of today’s innovations will be lost with the passing of time. The legacy of a chef lies not only in his creativity but also in his ability to create a business around his ideas which will last. In this session we will examine how this loss of creativity has happened in a multitude of industries and what can be done to leave a worthwhile creative legacy which will survive the passing of time.
 

Comments.

Tuesday 25th January 2011, 18.00 (UTC)

By

apparently el bulli is closing down because it's losing so much money. any advice for ferran adria?

Tuesday 25th January 2011, 18.12 (UTC)

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Somehow, there is a connection between entrepreneurs and food. All great entrepreneurs also make excellent chefs. Which makes me wonder about entrepreneurs in the restaurant business. Will be exciting to read an article about the use of Social Networks in the restaurant business, because that is one industry which is made for exploiting the power of Social Networking.

Tuesday 25th January 2011, 18.18 (UTC)

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Apparently the restaurant business has one of the highest margins amongst other industries and there is always a niche that you can specialize in. Social networking forms a natural fit because a restaurants do well based on word of mouth marketing and good reviews just like other things in the hospitality industry.

Tuesday 25th January 2011, 18.37 (UTC)

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there is a market for high-end take-out in nyc

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