Franklin Junction bills itself as a mixture of Airbnb and Match.com — but for restaurants. The platform finds kitchens with extra capacity and matches them with brands that want to expand into new locations. Franklin Junction launched in 2020, but it's been in development for two years.
The industry was under capacity by 15 to 20 percent before COVID-19. If you know anything about the retail business, it's all at the margin. If you fill up that last 15 or 20 percent, you make a lot of money. All your fixed costs are covered already. So, can I sell food for other people? The difference between innovating your own food and other people's food is: You get the benefit of the other person's branding!
Franklin Junction is a digital platform that allows restaurants to monetize excess kitchen and storage capacity by serving as "Host Kitchens™." Host facilities are matched with a thoughtfully curated roster of crave-able menu items from great restaurant concepts, allowing the Host to increase revenue and hosted brands to expand geographic reach without capital expenditure. Franklin Junction's proprietary matching process has allowed for an industry-best time to profit for their clients. For more information, visit www.franklinjunction.com.
This is Richard Melman, founder of the Chicago based multi-concept restaurant group…Lettuce Entertain You Enterprises with over 120 restaurants in operation now and several more on the drawing board.
The conversation, at times, sounded just like a couple of guys who haven't talked in awhile. Each reminiscing about the old days. But there are also peeks into how the mind of this very creative and successful restaurateur views surviving and flourishing in a very tough industry.