Multi-Unit Franchisee Magazine Issue II, 2014 | Page 20

MULTI-BR A N D 50
owns and successfully operates three
of the breakfast and lunch restaurants,
using her people skills and intuition to
create a “culture of respect.”
When the Colarossis began searching
for a second food brand (at that point,
she says, they would not have considered
another industry), they teamed up with
partners Daniel Avery, head of operations,
and Echo Liu, who handles finances, to
study consumer trends.
“Asian food is definitely the winner
as consumers look for healthy dining
options that are both fresh and bold
tasting,” says Colarossi. “Mama Fu’s is
the only Asian-inspired concept in the
marketplace that offers a contemporary
flex-casual setting, transitioning from
quick counter service at lunch to a fullservice experience at dinner. Our Mama
Fu’s in Frisco offers guests dine-in, deliv-

ery, take-out, catering, and free meeting
or party rooms, complete with audiovisual, free Wi-Fi, and a beautiful patio.”
When they opened their first Mama
Fu’s in late 2013, they did it again without brand recognition in the market, so
out roared the Colarossi guerilla mar-

keting team. “Things are going very
well, and we’re looking carefully for the
right locations for the rest of the Mama
Fu’s we’ll be building,” says the mother
of four, adding that while she loves her
work, she still puts her children and
husband first.

BOTTOM LINE
Annual revenue: $1 million-plus
2014 goals: To grow both brands in their marketplace, to be the best in class
in terms of food quality, service, and experience, and of course, to increase
revenue.
Growth meter: How do you measure your growth? We want to exceed the industry average or be best in class. Of course we look at P&L, labor
costs, food costs, etc. However, revenue—money in the bank—is what pays
the bills.
Vision meter: Where do you want to be in 5 years? 10 years? I
would like to see us expanding both brands as quickly as revenue, real estate,
and funding allows; 20-plus stores would be great.
How is the current economy affecting you, your employees, your
customers? Customers are looking for a quality product for a fair price. They
also want to know they are appreciated. They can spend their money anywhere
they want, and they choose to spend it in our restaurant. We make sure they
know we appreciate that.
Are you experiencing economic growth in your market? Yes, North
Dallas is booming. With that amount of growth comes a huge number of restaurant choices for our consumers.
What did you change or do differently during the economic downturn that you are continuing to do? We plan to stay on course using the
success model of our franchisor, but we are always willing to adapt to consumer
demands.
How do you forecast for your business? Being a franchisee means we
have a model that the franchisor has assured us is successful. We use the P&Ls

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MULTI-UNIT FRANCHISEE IS S UE II, 2014

they provide and go from there. We also use best practices of past and fellow
owners.
Is capital getting easier to access? Why/why not? Yes. The longer
you are successful in a particular business, the more receptive the banks seem
to be. However, the restaurant business has the privilege of receiving the most
scrutiny of all businesses, so you must also have a great debt-to-equity ratio.
Where do you find capital for expansion? Local banks, investors, SBA.
Have you used private equity, local banks, national banks, other
institutions? Why/why not? We have used local banks because we like
to develop a relationship with those we are banking with.
What are you doing to take care of your employees? We continue to
make sure we are offering competitive programs as well as a different culture
in how we treat our em ployees.
How are you handling rising employee costs (payroll, healthcare,
etc.)? Like everyone else, we are trying to grow organically and reduce costs
where feasible without hurting the quality of service, food, and experience.
How do you reward/recognize top-performing employees? By treating our employees as family members. For example, we recently held a fundraiser for an employee who was diagnosed with late-stage cancer and needed
help with medical expenses. We constantly praise our employees for good work
and we promote from within at both our brands.
What kind of exit strategy do you have in place? These are exciting
times right now. We truly are focused on growth and more growth. With that
said, we’ll be looking at many exit strategy options as time goes on.