Big Table Group Turns Leisure Division Profitable with Strategic Moves
The Big Table Group, which operates popular restaurant brands like Las Iguanas, Banana Tree, and Bella Italia, has successfully turned around the former TRG Leisure Division, including Frankie & Benny’s, bringing it back to profitability after seven months under its ownership.
Last October, the company acquired the 75-strong TRG Leisure Division for £1, with an additional cash contribution of £7.5m from The Restaurant Group. Initially, the division was losing money, but it has since generated a profit of £3.5m.
Morgan, a representative of The Big Table Group, expressed optimism about the progress made with the leisure division. He stated, “We are in a good place with what we have done with the leisure division. The business is now stabilized, profit conversion has improved, and we’ve got some promising tests coming up.” One such test includes trialing a brunch offer at Frankie & Benny’s, aimed at enhancing its New York-themed elements.
Morgan explained that the feedback indicated a need to emphasize the New York aspects of Frankie & Benny’s more, particularly through an all-day trading model and a robust brunch menu. The new brunch offerings will feature items like pastrami bagels, aiming to attract guests in the late morning period. The brunch trial will be conducted at three different locations: leisure, city, and town/high street sites, to gauge customer response.
Despite the brunch trial, the broader menu and brand proposition of Frankie & Benny’s will remain largely unchanged. The goal is to subtly remind customers that the restaurant is open all day, reinforcing its presence and availability. Morgan noted that awareness remains a challenge post-pandemic, with many guests unaware that Frankie & Benny’s is still operational.
Frankie & Benny’s sites have shown higher average weekly sales than the market average, indicating strong customer demand once awareness is raised. Morgan emphasized that the initial goal was to fix the profit loss, and with a £3.5m profit achieved in seven months, the outlook for Frankie & Benny’s is positive.
Chiquito, another brand within the division, is also performing well. Although there are no immediate plans for expansion, Morgan did not rule out future growth if performance significantly improves. A successful conversion of the Bolton Chiquito to a Las Iguanas has led to plans for another conversion, but widespread changes are not anticipated due to overlapping locations with existing Las Iguanas outlets.
Overall, The Big Table Group’s strategic efforts have revitalized its leisure division, setting the stage for continued success and potential growth in the future.
