How Honeygrow Is ‘Perfecting The Algorithm’ Of Its Brand

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15d ago 41:16

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Six years after Justin Rosenberg opened the first location of Honeygrow, the fast-casual restaurant chain was at a crossroads. Its growth strategy, he says, was “too entrepreneurial.”

Founded in 2012, Honeygrow, which is short for “honest food, grown locally,” sells stir-fry meals, salads and desserts made with fresh and better-for-you ingredients. The Philadelphia-based company currently operates over 50 restaurants in seven states with plans to open several more in the coming months.

While Honeygrow is in the midst of an ambitious expansion plan, Justin, who has raised $80 million in equity financing since its inception, is attuned to the challenges he faced six years after the restaurant’s debut. At that time, the company had veered away from the brand elements that made Honeygrow special in the eyes of its customers in favor of an approach that, in hindsight, was overly focused on opening new locations.

In this episode, Justin talks about his initial vision for Honeygrow, what he learned from taking a hands-on approach during its early years despite having almost no experience in foodservice, and how the company is trying to “perfect the algorithm of the brand.” He also discusses Honeygrow’s sourcing strategy and its focus on serving “great” ingredients and “amazing customer experiences,” how he evaluates service and quality at individual locations of Honeygrow, and why day-to-day management of the business – and not an exit strategy – is always top of mind.

Show notes:

0:35: Justin Rosenberg, Founder & CEO, Honeygrow – Justin talks about why he’s constantly on the road, how he evaluates potential locations for new Honeygrow restaurants and why his store visits are typically unannounced (and the one time it almost led to a fight). He also explains why his vision and goal for the company are tied to customer experience, the origins of the name Honeygrow and its design aesthetic, why the restaurant chain is focused on stir fry meals, salads, and its “honeybars” and how a chance meeting helped him find an ideal ingredient. Justin and Ray hail their love for an HBO television series about entrepreneurship (and find common bonds in apparel) before the Honeygrow founder explains why the chain was developed to be an international brand and what gave him the confidence to open its second location. He also talks about the generally collegial relationships among founders of fast-casual chains, how a “pressure to grow” led to Honeygrow to expand too quickly and almost go out of business in 2018, how the company righted the ship and how he managed the challenges on a personal level. Justin also discusses “the common denominator” among Honeygrow’s leadership team, how “trust comes with time and wins,” whether an entrepreneurial mindset among store employees is welcomed, how consumer feedback influences menu decisions and new product development and why he looks at Yelp and Google reviews every morning.

Brands in this episode: Honeygrow, RxBar, David, Coca-Cola

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