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| “Variety of Scarcity” by bryanesque is licensed under CC BY 2.0 |
Recently I was reading an article my dad sent me about +Bobby Flay and his new mission to open a new restaurant in Manhattan–a city with plenty of restaurants already.
It got me thinking. Something like 80% of small businesses fail, and a large number of those are restaurants. So, if a certain type of business has a shelf life, why don’t we exploit that and build it into the business model?
What I am pitching here could be a billion-dollar concept, assuming you can figure out how to lower overhead and control costs. What if you opened a restaurant with an incredible chef, trendy decor, fresh menu items and everything that food critics are clamoring for, but then tell the world that the restaurant will only be open for 9 months. Can you manufacture scarcity?
After time, the restaurant is doomed to fatigue, grow out of its honeymoon period, wither and become stale. People will stop talking about it, and the food costs will rise as the revenues subside. However, if you knew that you could only keep that concept vibrant for a certain period of time and exploited that by telling the world, could you keep the place packed before it was time to close up shop?
#thinkaboutit
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