Taffer Transforms Y-Not 3
There are three Y-Not bars born from a legacy of bar owners. When Tony’s son Nick graduated college, Tony gave him the keys to Y-Not 3 hoping Nick would take to the bar business. Nick lacked the skills to run a bar and Y-Not 3 quickly became the black sheep of the Y-Not brand. Tony is in his 70’s and cannot afford to retire because his son owes him half a million dollars. He also owes his sister $20,000 and is currently living with his mother. Y-Not 3 is losing $65,000 a year and Nick has run out of ideas and time.
Nick has not changed anything on the outside or inside of the bar since he inherited it ten years ago. It actually looks like someone’s house and struggles to stand out against the 11 other bars on the street. Nick’s lack of management skills and leadership is bringing down the entire team, making Nick the bar biggest problem. It seems that Nick just doesn’t care and his most frequently used term is, “I don’t know.”
After the stress test, Taffer decides to take the keys from Nick and hosts a family meeting to discuss next steps. All members of the meeting agree to promote, Angelica, to General Manager providing Nick the opportunity to explore other opportunities and strengths. Angelica gladly accepted and is willing to take on the challenge.
With the management adjustments made, Taffer then transformed Y-Not 3 to Nick’s House allowing the family to keep Tony’s legacy is still alive and Nick’s future bright. Six weeks after relaunch, under Angelica’s leadership, sales at Nick’s House are up 400%. Nick has repaid Monica the $20,000 in full and paying back his father Tony is next on Nick’s list.
For more in-depth information about this episode click on the links provided here.