EMBA 711 Outback Steakhouse case with all videos
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Bellarmine University, EMBA 711 Team 4Midables!
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EMBA 711 Outback Steakhouse case with all videos
- 1. GOING GLOBAL
- 3. Company Timeline 1986 “Crocodile Dundee” - Australian film starring Paul Hogan as Mick Dundee 1987 Multi-Venture Partners, Inc. is founded in Florida by Tim Gannon, Bob Basham, and Chris Sullivan 1988 First Outback Steakhouse opens in Tampa, Florida 1991 Goes public with 49-restaurants… renamed Outback Steakhouse, Inc. 1993 Carrabba's Italian Grill is launched 1996 1st Outback Steakhouse opens in Canada 1997 Revenues exceed $1 billion 1999 Enters JV to develop Roy's & Fleming’s Restaurant chains
- 4. Growth Drivers… • High Quality Food • Great Service “fully staffed, fully trained” • Relaxed ambiance “Australian theme” • Focus on dinner and suburban locations • Key Partnerships: suppliers, managers & franchisees • Bottom-up communication encouraged
- 5. Company Expansion • Growth rate of 70 stores per year U.S. market saturation • Diverse mix of dining options Carrabba’s, Fleming’s, Roy’s & Bonefish Grill • International Opportunities…? International sales generate up to 50% of fast food revenue
- 6. What are Your International Travel experiences? What Countries?
- 8. Key Questions • Challenges expanding outside of the US? Based on regional tastes, culture, religious beliefs, etc. • Does the model translate internationally? Brand, product, work environment, service, etc.
- 9. Recommendations • Identify and prioritize countries and regions • Culturally-comparable dietary and dining habits • Discretionary incomes • Identify and develop local managers, servers and suppliers • Start with corporate-owned restaurants while seeking potential franchisees
- 10. Where are They Now? 18 Countries Worldwide Australia Brazil Guam Canada Hong Kong Indonesia Costa Rica Japan Dominican Republic Korea Malaysia Mexico Philippines Puerto Rico Singapore Taiwan Venezuela Thailand
- 11. Bloomin’ Brands Goes Public CNBC Aug 8, 2012 Elizabeth Smith Bloomin' Brands Chairman & CEO
- 13. References • http://www.ajc.com/news/business/outback-beats- around-bush-for-growth/nQHyr/ • http://www.fundinguniverse.com/company- histories/outback-steakhouse-inc-history/
Editor's Notes
- BRYAN
- BRYAN
- BRYAN
- TRACYDiscussionGood and bad restaurant service experiences?Tipping?Other successful examples of a company’s bottoms-up communication?Personal examples of bottoms-up communication?
- TRACY
- JOHNDiscussionExamples of US-based products outside of the US?Differences from US? i.e. McDonald’s serving beer in Germany, Macca’s in AustraliaNext slide highlights a brief exchange between two consultants discussing some key but subtle differences of US-based restaurant located in Europe
- JOHN
- JOHN
- RICHARDBUSINESS ISSUESMarket DemandCultural and social factorsInfrastructureSupply chainRegulations and trade restrictions
- RICHARD
- RICHARD16 million shares of common stock at $11 per share target + cash on handTo retire about $248.1 million in debthttp://www.bizjournals.com/tampabay/blog/morning-edition/2012/08/bloomin-brands-sets-ipo-pricing-at.html$176 million actually generated by IPOhttp://www.foxbusiness.com/industries/2012/08/08/after-shrinking-ipo-scale-blooomin-brands-set-to-debut/