Charleston Hospitality Group CEO Sam Mustafa Muses on Business Growth Management Strategies
January 15, 2018 § Leave a comment
Charleston Hospitality Group CEO Sam Mustafa Muses on Growth Strategies and Management
In our last issue, I talked a little bit about the impressive growth of the restaurant industry in greater Charleston. What I didn’t talk about as much was the fact that with growth comes intense competition, which ultimately invites opportunity. Because with competition, you’ll ultimately see some closure and some businesses going away. That’s how we acquired Fill Restaurant & Piano Bar recently. We were able to go in and buy it at a fraction of the cost of starting from the ground up.
It’s a method that’s worked for CHG time and again. To take on a fully-equipped space and reduce the cost of the initial investment, and then to work to give it a spectacular personality, identity, and kitchen/menu that works for that demographics market and location. We’ve done that with every single one of our properties. Toast of Summerville was Roma Tomato, Toast of West Ashley was 7 Café, Toast! Was Diana’s, Eli’s was Joseph’s, Tabbuli’s was Your Place. HonkyTonk we went in at a low cost and were able to acquire a lot to flesh it out into the successful saloon concept it is today.
It’s all about keeping your eyes open and having a system in place. We invest a lot in kitchen talent and in marketing and advertising. It is my hope to add another 20 to 30 properties in coming years, and not all just in Charleston, but throughout the southeast.
Success requires a vision, such as the vision I had when I started working at Arby’s in 1999. I wanted to work for a corporate-driven restaurant chain, so I would be able to learn and understand the structure behind it. With our restaurants, when given an option, you really must try every angle. There are so many different concepts and demographics. What works for one doesn’t necessarily work for the other.
As we move into a fresh new 2018, I’m wishing you all things wonderful, prosperous and delicious.