Price is what you pay. Value is what you get.

A cautionary tale

TGI Friday's filed a notice of intention to appoint administrators this week.

For most people, that's just another headline about a struggling restaurant chain. For me, it's a bit more personal.

I worked at Friday's from 2002 to 2009. I won TGI Fridays World’s Best Bartender, in Las Vegas in 2008. Some of my closest friends today are people I met wearing those red and white stripes. Frankly I built a restaurant business off that training.

It's hard to articulate what that place meant to me.

In the 90s and early 2000s, Friday's wasn't just a restaurant; it was the benchmark. The training was legendary. The standards were unmatched. I learned things there that I still teach today. When I posted about this on LinkedIn earlier this week, my comments filled with people saying the same thing...

"I wouldn't be where I am now without Friday's."

"Incredible training, huge lessons in dealing with people, and some lifelong friends."

"It was culture and standards and the kind of training that built people from the inside out."

These aren't rose-tinted memories. This is real stuff. Friday's genuinely was the industry leader in developing hospitality professionals. Under Karen Forrester, it was the darling of casual dining; incredible growth, incredible numbers, a genuine industry leader.

So what happened?

The dangerous middle ground

Here's my take...

The convenient end of the market; Greggs, Costa, McDonald's; they're thriving. Quick, consistent, affordable. The high-end occasion restaurants will always have a place too. People will pay premium prices for premium experiences.

The middle ground however… That's dangerous territory.

Friday's found themselves stuck there without the one thing that made them special.

The people.

It was never really about the burgers or the cocktails. It was the investment in teams. The culture. The service that made you feel like you were somewhere special. One of the comments on my post put it perfectly: "Theatre was key. They entertained."

When that went, they became just like everyone else. And when you're just like everyone else, you're competing on price. That's a race to the bottom.

Price is what you pay. Value is what you get.

You can't grow a business by making cuts and answering solely to a bottom line. Consumers see it a mile off.

Friday's learned the hard way that not investing in training and standards and culture costs you everything. The very thing that made them special; their people; became the thing they stopped prioritising. And without that, all you've got is expensive food in a themed restaurant.

I've watched with interest as people from the halcyon days return to try and rebuild. Giles Fry, who's now five weeks into leading the turnaround, commented on my post: "Wise words Tony. Keep the faith. Changes are happening."

I genuinely hope they succeed. If the plan is a return to industry-leading standards and training, I believe it can work. The people they have in leadership now understand what Friday's was. They know the culture that built it.

But it's going to be a long and tough journey.

Why this matters to golf clubs

I know what you're thinking. "Tony, this is interesting, but what's it got to do with my golf club?"

Everything.

Golf clubs face the same temptation every day. Control costs. Answer the bottom line. And yes, you absolutely should. Financial discipline matters. GP management matters. Labour control matters.

But never at the expense of guest experience and value proposition.

I see it all the time. Clubs that are so focused on the numbers that they forget what the numbers are supposed to represent. They cut training budgets. They reduce staffing levels. They squeeze suppliers. And slowly, almost imperceptibly, the experience degrades.

Members notice. They might not say anything at first. But they notice.

And here's the thing about golf clubs; you're not competing on convenience like Greggs. You're not a quick grab-and-go. But you're probably not a fine dining destination either. Most clubs sit somewhere in the middle.

Sound familiar?

That middle ground is exactly where Friday's got stuck. And without exceptional service, without a culture of hospitality, without teams who genuinely care... you're just another clubhouse serving average food at average prices.

Start with your guests

Here's what I've learned from Friday's, from running my own restaurants, and from working with golf clubs across the UK...

Start with your guests. Do a brilliant job for them. Manage to key metrics to support that.

Not the other way around.

Because if you don't have the experience in place... if you don't have the team in place... if you're not developing a culture of hospitality... no amount of GP management will save you.

Get the experience right first. Build a team that genuinely cares about your members and guests. Create a culture where people want to work and want to stay. Train them properly. Develop them. Invest in them.

Then manage the metrics. Then optimise the margins. Then tighten the controls.

The numbers will follow. They always do when the experience is right.

But if you start with the numbers and hope the experience will sort itself out? You end up like Friday's. Stuck in the middle, competing on price, wondering where it all went wrong.

The lesson

Friday's taught me everything I know about hospitality. The irony isn't lost on me that their decline now teaches one of the most important lessons of all.

Fail to invest in your experience, and no amount of financial management will save you.

It's a cautionary tale. One I hope every General Manager and CEO in golf takes seriously.

Because the clubs that get this right; the ones that build genuine cultures of hospitality and support them with smart financial management; they're the ones that will thrive.

The ones that don't? Well... we've just seen what happens.

Until next time,

Tony

If you'd like dedicated time to work through your club's F&B challenges, book a Power Hour Strategy Call. One hour, focused on your situation, with benchmarking, guidance, and a clear action plan to take away. £245 + VAT.