Podcast Summary: RESTAURANT STRATEGY

Episode: The Keys to Expansion with Biz Dev Expert, Edie Weintraub

Host: Chip Klose
Guest: Edie Weintraub (Founder, Terra Alma)
Date: December 22, 2025

Main Theme / Purpose

This episode dives deep into the crucial considerations, strategies, and potential pitfalls for independent restaurant owners who are ready to expand beyond their initial locations. Chip Klose and business development expert Edie Weintraub discuss the keys to successful expansion, how to evaluate new opportunities, avoid costly mistakes, and build a scalable restaurant business model.

Key Discussion Points and Insights

1. The Inflection Point of Expansion (03:47, 08:08)

• Many independent operators can “muscle” their first few locations, but expansion genuinely changes around the third to fifth venue. That’s when systemization, outside expertise, and more sophisticated business development become essential.
• Klose: “Somewhere around four and five is where I find a lot of people start bringing outside help.”
• Lining up the right CFO, operations manager, and marketing team is critical to prepare for scaling.

2. Edie’s Approach: Begin with Why and Operations Health (04:44, 06:16)

• Edie focuses first on understanding the restaurant’s “North Star”—the original purpose and what makes the business special.
• Evaluates restaurant health by talking with the team and assessing operational alignment.
• Looks for consistent guest experience and a sense of regulars to gauge if the concept is ready to grow.

3. The Importance of Location Strategy (09:27)

• Location choice is paramount. Edie shares a specific barbecue client story contrasting a cheaper, less visible location (requiring more marketing) versus a pricier, high-visibility spot (less marketing, faster ramp-up).
• Weintraub: “You’re going to pay more for that space, but you’re going to probably have to advertise much, much less.”
• Operators must understand if their concept thrives in industrial, residential, urban, mixed-use, or even seasonal areas.

4. Learning from Early Expansion (11:36, 14:03)

• Chip highlights a fried chicken concept that made more money in a seasonal shore location than year-round city spots—stressing the need to learn from early results, and then double down on what works.
• “Those first three, four, five locations are about figuring out what kind of personnel we need, what kind of menu kills, what kind of area is right...so you can go forward.”
• Formulate an expansion strategy based on proven, replicable success—not assumptions or wishful thinking.

5. Advice for Franchising and Scaling (14:03, 16:56)

• Edie: Don't franchise until you’ve proven the model across several locations (“three to five”).
• Lenders and franchisees want assurance that the operation works in multiple markets and footprint types.
• Standardization (a la Taco Bell) becomes easier only after making and learning from early mistakes.

6. Avoiding Bad Location Traps (17:16)

• Weintraub: Falling in love with a space can blind operators to hard numbers and true demand.
• Focus on data: “Are our customers in that corridor? Are the complimentary neighbors there?”
• Parking, visibility, and accessibility (e.g., easy right turns, minimal barriers to entry) are often underestimated but are essential.

Notable Example (18:51-20:48)

• Chip relays the story of a restaurateur in Tampa who prioritized accessibility—measuring the number of potential customers who could get to the restaurant with a single right turn.

7. Systems and Team—Keys to Scaling (22:33)

• Succeeding at scale isn’t about the owner doing everything. It’s about systems and hiring for your weaknesses.
• “All too often a lot of entrepreneurs...are like, I got this, I’m going to do it myself...Unfortunately, it doesn’t work that way.” (Weintraub, 22:47)

Chip’s “90 Day Rule” (23:17)

• To prove your restaurant can scale, you (the owner) should be able to step away for 90 days, interacting only through limited phone calls, with the business running smoothly.
• “You need to be able to take 90 days off...and you only have four hours of phone calls…” (Klose, 23:17)
• If this isn’t possible, expansion will likely hurt, not help, the brand.

8. The Role of Private Equity and Profitability (27:11, 29:02)

• PE firms only seek out brands ready for rapid, capital-fueled scaling—typically once solid systems and profitability are established in 10–20 locations.
• Klose: “It’s all math. They do not care if your food’s good. They look at the math, and the math tells them...”
• Operators should aim for strong, consistent EBITDA—well above 20%—before considering large-scale franchising or selling.

9. When and How to Engage a Real Estate/Expansion Advisor (31:04)

• Most emerging brands can’t afford an in-house real estate team before 30+ stores. Advisory firms like Edie’s fill that gap, acting as tenant reps (like a buyer’s agent in real estate).
• Critical to remember: Landlord’s broker/agent does not have your best interests at heart.

10. The Broker vs. Advisor Distinction (33:08, 33:39)

• Not all brokers are equal. Many push deals simply to close, not necessarily to benefit the restaurant brand.
• Weintraub: “I will kill a deal if it doesn’t feel right...I am here for the marathon, not the sprints.”

Memorable Quotes & Moments

• “You have a champagne taste, but you have a beer budget.”
  – Edie Weintraub, on franchisee location aspirations (14:03)

• “Those first three, four, five locations are about figuring out … the kind of area [that] is right, so you can go forward.”
  – Chip Klose (11:36)

• “You want to make sure that it feels right, but at the same time, you got to make sure that there’s natural demand…It’s all about the numbers.”
  – Edie Weintraub (17:16)

• “You need to be able to take 90 days off…and you only have four hours [per week] of phone calls with the key team members.”
  – Chip Klose (23:17)

• “I think folks like me are far and few between, because I will kill a deal if it doesn’t feel right…at the end of the day, I’m here to basically be your guide and let you see all that’s out there.”
  – Edie Weintraub (34:06)

Timestamps for Important Segments

• 00:00–03:47: Introduction – Who the show is for, episode’s purpose, Chip’s credentials
• 03:47–06:16: Edie’s background in business development; how operators “hit a wall” after a few locations
• 09:27–11:36: The concrete factors (rent, traffic, marketing) in choosing locations
• 11:36–16:56: Case studies on learning from early expansion; why franchises need proven models
• 17:16–21:22: Deep dive on why bad locations sink restaurants; accessibility, neighbors, competition
• 22:33–25:10: Importance of systems and team; the “90 day test” for owner freedom
• 27:11–29:02: Private equity and profitability benchmarks
• 31:04–34:00: When to hire outside help for site selection and deal negotiation
• 33:08–35:11: The advisor vs. broker distinction, and the value of a long-term client relationship
• 32:58, 36:33: Edie’s final words of wisdom and contact information

Guest Advice & Closing Thoughts

• Build a balanced, capable team: Identify your strengths and fill the gaps early.
• Rely on data, not emotion, for location selection: Choose your next spot with customer demand and accessibility in mind, not just because you like the space.
• Don’t be afraid to say no: Have an advocate who will guide you away from bad deals.
• Test before you scale: Use your early locations to refine operations before seeking franchisees or investment.
• Use an advocate: Advisors like Edie can represent your interests and help you scale intentionally and profitably.

How to Connect with Edie Weintraub

• Website: Terra Alma
• LinkedIn: Edie Weintraub

For restaurant owners considering expansion, this episode is a must-listen playbook of lessons, warnings, and actions drawn from years of hands-on experience in scaling hospitality brands.