Page 33 - 40.pdf - Brand Equity Magazine

Last December, CWR took a bold
step by opening its fi rst TGI Friday’s
restaurant in Singapore. Many
business experts questioned the timing
of CWR’s entry into Singapore at a
time when the Island Republic was just
recovering from the grip of one of the
worst recessions.
“We believe there’s an opportunity in
every crisis,” asserts Reddy. “At our
point of entry in Singapore, rental rates
were slightly softer with expanded retail
space. Our enviable location at the
Heeren has certainly given us a strong
competitive edge.”
Despite 2009 being a dark year in most
countries, Malaysia emerged as one of
TGI Friday’s fastest growing markets.
Reddy took advantage of declining
rental rates and delivered a plus profi t
for each restaurant chain under his
group.
“The restaurant business, like
most other businesses, is cyclical,”
Reddy observes. “There are ample
opportunities to grow our restaurant
network and brand portfolios even
in this economic downturn, albeit
at a measured pace. The group will
leverage on the experience gained
from operating a chain of different
restaurants by strengthening our
foothold in the F&B industry.”
Although food is a vital part of the TGI
Friday’s experience, Reddy maintains
that the brand culture distinguishes it
from other established restaurant chains.
“We bleed red and white in everything
we do at TGI Friday’s,” he states. “Our
staff is trained to serve customers to give
them the ultimate dining experience. The
casual atmosphere is also conveyed
through the stylised décor.”
Reddy admits that the music is
sometimes a little loud. “It’s a deliberate
ploy to let customers hang loose.”
And teamwork, Reddy believes, is
also a big part of TGI Friday’s success
story. “The minimum expectation in
the service business is excellence
in execution. Business will prosper
if you have the right team. Our team
has worked hard and grown together
with us. There are many who joined
as waiters and are now senior general
mangers or regional managers.”
The TGI Friday’s staff work with a
cross-functional approach. Operational
decisions are implemented with the
consensus of the staff. As part of a
global operation, TGI Friday’s enjoys
the benefi t of learning from successful
marketing and promotional efforts in
different parts of the world.
One of CWR’s biggest challenges is
staff recruitment. When the Group
recently advertised for a number of
positions for its chain of restaurants,
only three people turned up for
interviews as waiters.
Reddy concedes that it has a lot to
do with the Generation Y’s attitude.
“This generation of young adults is
tuned to computers who communicate
reasonably well online but lack verbal
skills. For better or worse, the digital
era has cultivated a generation of
introverts lacking in social skills.”
TGI Friday’s is a 45-year old heritage
brand that has managed to stay
relevant despite intensive competition
by constantly reinventing itself.
“Our outlets are revitalised periodically
with the addition of fresh elements
while retaining the old school charm,”
Reddy claims. “We strive to raise the
Brand Equity Volume 2, 2010 39
bar at regular intervals by introducing
new food items, changing the décor,
retraining our staff, and creating
innovative merchandising.”
CWR is surely on the fast-track in
expanding TGI Friday’s with the Group
looking at opening fi ve outlets in
Malaysia and three more in Singapore.
There are also plans to penetrate
markets like Indonesia in the near
future.
Meanwhile, Reddy continues working
round the clock and staying calm
despite the pressures of the job. The
scars may not be visible – but keeping
his fi ngers on the pulse of the F&B
industry obviously keeps the man
ticking.
For Reddy and his team, it’s business
as usual at TGI Friday’s. And they keep
working like everyday is a Friday.