I love a good story, especially a good marketing one.
In Naples, Fla., a 24-year-old, Anthony Chinaglia, came up with a simple marketing idea (the simple ones are always the best) to make money in this terrible economy. His hard work is being noticed by the franchise world. Chinaglia decided people were willing to pay $5 for a good meal. And in any economy, a good meal for $5 is well worth the price. So he opened a restaurant, Mr. $5.
I don’t know what, if any, market research Anthony conducted. In an interview with WINK News on July 20, he stated, “Nearly every large chain was doing some kind of $5 special, so I figured that’s what America wants to pay.” That is low-budget market research at its finest.
Click here for the news story
According to the WINK article, Francorp now wants to help franchise Mr. $5. Can Chingalia say, cha-ching?
This is a good reminder to all of us that sometimes we just don’t need to over think an idea. Boil your main business challenge down to one basic question– how do we make more money? All you have to do is solve that ONE problem. The rest is fluff.
One of Mr. $5 menu offerings includes French toast- four fluffy Texas style French toasts, dusted with cinnamon and sugar, melted butter and two eggs. Mmmm…. now that is money well spent.
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