We believe local restaurants are the soul of their communities.
Clean Plate provides a strong operating platform for successful independent and small chain restaurants. We partnered with our first restaurant in September 2013. Since then, we have rapidly grown to a company of fourteen restaurants located in seven states.
We search for restaurants with proven track records. After careful review of supporting financial documents, we acquire restaurants with top-tier sales productivity and profitability. When we partner with a restaurant, our goal is for the ownership transition to be seamless. We respect the hard work of the prior owner by protecting all key aspects of the business. We preserve the name, branding and menu. Most importantly, we retain the restaurant staff. If possible, we secure the prior owner as a future partner to help us continue to grow the business. Original founders have partnered with us in eight of our restaurants.
We empower and incentivize the General Managers (GMs) to make smart decisions as they lead our restaurants. The executive management of Clean Plate supports these GMs in all aspects of the business:
Clean Plate plans to build a national entity comprised of individual restaurants and small chains producing diversified and non-correlated cash flow streams. Our ambition is to become one of the fastest growing and most profitable restaurant companies in the US. The size of the prize is large: the US restaurant industry produces $551.7bn in annual sales.
The four-wall profit margins for our restaurants are strong because we acquire restaurants with the following attributes:
We focus on high quality restaurants with proven success. Our social media scores are high — our average score on the major review sites is:
Many of our restaurants improved their social media scores under our ownership.
Our balance sheet is strong with large cash balances and no formal bank debt.
Our investor base is comprised of 57 institutional quality individuals. This includes meaningful contributions from Clean Plate management members and nine (current or former) CEOs.