There's nothing more glamorous than running a restaurant – but there's also nothing more difficult. For restaurateurs trying to earn their piece of the pie, the New York food scene is a ruthless, cutthroat jungle where the stakes are high, the margins are razor thin, and success is hard to come by. In a new primetime docu-series, Consumed: The Real Restaurant Business, CNBC takes viewers behind–the-scenes of five very different restaurants in the ultra-competitive New York food scene, chronicling their every struggle and occasional triumph.
The 8 one-hour episodes will follow five businesses at a crossroads, fighting for their piece of a multi-billion dollar industry: famed NYC hotspot and budding empire The Meatball Shop; Melba's, a Harlem comfort food restaurant and neighborhood joint with national ambitions; Ann & Tony's, a multi-generational restaurant in the Bronx that's struggling to fill seats ─ and preserve its family legacy; Vermilion, an upscale restaurant hoping to win over the critical NY food press with an expensive re-launch; and Seamore's, a bold, but risky new seafood restaurant launching this summer.
Runtime: 60 minutes
Consumed: The Real Restaurant Business - Business model - Netflix
A business model describes the rationale of how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts. The process of business model construction and modification is also called business model innovation and forms a part of business strategy. In theory and practice, the term business model is used for a broad range of informal and formal descriptions to represent core aspects of a business, including purpose, business process, target customers, offerings, strategies, infrastructure, organizational structures, sourcing, trading practices, and operational processes and policies including culture.
Consumed: The Real Restaurant Business - Complementarities between partnering firms - Netflix
Berglund and Sandström (2013) argued that business models should be understood from an open systems perspective as opposed to being a firm-internal concern. Since innovating firms do not have executive control over their surrounding network, business model innovation tends to require soft power tactics with the goal of aligning heterogeneous interests. In a study of collaborative research and external sourcing of technology, Hummel et al. (2010) similarly found that in deciding on business partners, it is important to make sure that both parties' business models are complementary. For example, they found that it was important to identify the value drivers of potential partners by analyzing their business models, and that it is beneficial to find partner firms that understand key aspects of our own firm's business model. The University of Tennessee conducted research into highly collaborative business relationships. Researchers codified their research into a sourcing business model known as Vested (also referred to as Vested Outsourcing). Vested is a hybrid sourcing business model in which buyers and suppliers in an outsourcing or business relationship focus on shared values and goals to create an arrangement that is highly collaborative and mutually beneficial to each.
Consumed: The Real Restaurant Business - References - Netflix