MSV LIFE TOP ENTREPRENEUR AWARDS 2014 EXCLUSIVE INTERVIEW
NEW YORK BEST Company name: New York Best (Popular Marketing ltd.) aChievements: Opening of 2nd outlet after only 1 and half years operation, Voted ‘Best Burger in Malta’ on MaltaToday, Reviewed twice in one year on times of Malta, calling us ‘The Fast Food Holy Grail’ 8.5/10. innovative idea and Business model Being proposed: To serve the best of New York’s traditional eats without having to fly across the Atlantic Ocean. Utilising ONLY top quality, fresh and custom ingredients to create a product from scratch, thus having a unique and recognisable product. Also employing highly appealing visual branding vis a vis outlet design and food packaging. strategiC vision and market viaBility of the idea: At the moment the goal is to make the brand a household name (in Malta) by mid 2015. Long term vision is to export the brand to selected cities across Europe, not as a franchise but as a Maltese company operating overseas. aBility of the partiCipant to Create and exeCute on the Business idea: I saw a gap in the market, a happy medium between the established international fast food franchises AND the recent emergence of the ‘Gourmet Burger Experience’. New York Best falls in-between, We’re still a quick self service restaurant, but our buns are custom made, our beef blend is imported just for us, we make our patties ‘a la minute’ from fresh beef balls, our fries are skin on ‘Lady Rosetta’ 6 x 6 mm also imported just for us. We pay extra attention to detail with ALL our products, people noticed, they kept coming, thus the business was able to grow ORGANICALLY. No investors, no cash injections, just good old baby steps. We now have over 30 employees and are working on opening the third NYB and a new ‘top-secret’ concept outlet before years end.
Best ComBined use of investing, trading and negotiating: That’s easy, when I took over the Sliema outlet WITHOUT a subject to bank loan clause, I had financing in line for another concept outlet so I assumed the bank would finance Sliema instead as it was a no brainer on paper (and in theory), somehow the loan got declined...I had to renegotiate payment terms with everyone, and fast, as I only had a six week moratorium to get the shop up and running, this ended up being a massive challenge as the place turned out to be rotten and required full gutting. I made agreements with my suppliers to pause payments till I got on my feet with repayment schemes, while at the same time seeking financing from another bank. All this with an average of 10-15 people working on site everyday and having to micro manage every last detail as I designed the place myself...was touch and go for a couple of weeks but fortunately the brand was strong enough for the new outlet to achieve good sales from day one of operation! What’s your philosophy on entrepreneurship in 10 Words or less: That’s a very expansive question and I could go on for hours and hours, to be honest I’m still ‘developing’ my philosophy, so to speak. However my doctrine to entrepreneurship is to have fun, this may seem childish, but its true, unless you feel passionate about the business you plan to take on, and I mean really passionate, don’t bother, don’t go into something just because you think it will make you money, of course the money is important, but the most vital thing is that it has to be something that you love doing, talking about, dreaming about... the business needs to be a part of YOU! TEU
All rights reserved | Copyrighted
Editor’s Note Once upon a time, two brothers raised in a family of chefs, classic recipes and old cook books decided to break away from their lineage and use all they learnt to make the best fast food they could possibly make. Run by the Diacono brothers, foodies to the bone, New York Best is an eatery like no other on the island. After the boys set up a hugely successful pizza stand at the Isle of MTV concert, it was clear that people wanted more, so they took on more and more of these events to raise enough dough to open their own place. New York Best opened its first outlet just outside University campus in late 2011. The boys quickly built quite a reputation, sourcing only the best of ingredients and paying extra attention to detail, their grub has fast become top favourite for Students and Food lovers alike. New York Best specialises in US style Burgers, Pizza & Hot Dogs (The Holy Trinity). Burgers can be served single, double, or even triple patty. The secret to their burgers taste and texture is the hand made patties along with the custom made burger buns and beef blend found nowhere else. Wieners for the hot dogs and their condiments are all custom made too. Their signature New York style pizza is made from 24 hour slow-rise sourdough, 100% premium mozzarella and simple seasonal toppings. Their Milkshakes are decadent and sinful, and employ whole ingredients found in the kitchen, like their Mum’s infamous Home-made Chocolate brownies. The boys have ample tricks up their sleeves and keep coming up with new and exciting tongue in cheek versions of New York classics. Tommy Diacono – thomasdiacono@gmail.com
April 2014 | THE ECONOMIC UPDATE
| 27