Master Chef

About a week ago I was having a conversation with one of my old friends from middle school. As we were catching up on our lives we began to conversate about his dad; world class chef Joachim Spichal. As I began to as questions about his dad I was very interested in how he made his money. What my friend told me was very interesting.

Joachim Splichal, is a world renowned chef and also one of the 200 richest men in America. However, Mr. Splichal did not make his money the conventional way. He knew that creating a popular brand is the most important part of buisness. With this knowledge, he brilliantly devoted the early parts of his career to creating a name for himself. He did this by starting super fancy resturaunts with only the highest quality of foods. These resturaunts became so popular amongst the wealthy class that celebrities began to flock to his Patina resturaunt. His brand, Patina, began to make a name for itself. However, contrary to common thought, Mr. Splichal was not making money because the cost of his food (which was very high) did not equal the amount of revenue he was receiving. Therefore, he lost a lot of money during these years. This was all part of the plan though. Once he established himself as a major player in the food world he began to start small lower priced food resturaunts that did not have the high class food he was renowned for. However, because of his heralded "Patina" brand people came to the resturaunt in flocks. These small resturaunts is where he made his riches because the cost of his food was much less then the profit that he recieved. Mr. Splichal understood the concepts of break even and how to maximize his profits.