What private equity thinks of the restaurant business right now

This podcast interviews Andrew Smith, co-founder of Savory Fund, a private equity firm specializing in emerging restaurant brands (5-15 units, operating 5-20 years). The discussion covers Savory Fund's investment strategy, focusing on brands with strong consumer appeal, long-term vision, and founders who remain actively involved. Smith highlights the recent challenging market conditions and emphasizes that Savory Fund seeks brands that have demonstrated resilience and profitability during economic downturns, such as the pandemic and subsequent inflation. The interview concludes with Smith's continued bullish outlook on the restaurant industry and Savory Fund's plans to invest another $250 million in emerging concepts. A key takeaway is the importance of founder involvement in building and scaling a successful restaurant brand.