This is a reality TV concept that ticks a lot of boxes!
- Find a struggling food court, one that has at least two vacancies. Buy it. Buy the property.
- But only if you manage to buy out the leases of existing tenants. Stagger their exits.
- Contestants can have experience, even in food courts, but their brand and menu must be substantially new
- The free rent is genuine and will continue after the show has ended, after a winner is found
You can imagine the TV part – see their stories, watch their problems, have some clock ticking, have mentors. That part is easy.
The mentors though are industry business folk, with money. They (and the show, lines could be blurred about percentages) front up money for fit-out. A strong focus will be on repeatable standardised components. For example, everyone has the same till and ordering system (so sales can be tracked). Equipment like fryers, griddles, bain maries, microwaves and whatever will be the same for each contestant, and remain the property of the food court. The contestants get to spend money on uniforms, menus, initial ingredient stock and so on.
The reality aspect alone will have the food court bursting with customers. So every player will make money, you’d think.
At the end (of the show), the food court continues. The players can carry on and keep running their business, if they choose, or sell it, or shut up shop.
Oh yeah, the mentors and the TV show get a percentage of ongoing turnover during and after the show, and a percentage of the business, should it ever expand or franchise.
From then on, on a two-year cycle, the group with the least turnover in the food court lose their spot, and get no compensation for it. They lose any food court owned equipment. A new group is chosen to replace them and the clock starts again.
Here’s the cool part – after the show ends the food court is gifted to a trust that manages it. Each business keeps on being rent free (but pays their share of overheads), meaning they will always have a price advantage that should keep the food court flourishing.
