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Meet one of the “Steve Jobs” of the Mexican restaurant industry

Talking about which is the largest restaurant entrepreneur in Mexico can be complex ... from the philosophical question "How to define success?", to the analysis of the path that led them to that point. The good news is that this is what this blog is for: to put at your fingertips what makes / made many businesses in the sector great, so that you can replicate it in your own restaurant.

 We introduce you to Joaquín Vargas Mier y Terán

One of the families with the longest entrepreneurial trajectory in the country are the Vargas. But this has never meant less effort, and the proof of this is Joaquín. Being one of the 7 children of the pioneer of FM radio in Mexico, Joaquín Vargas Gómez, from a young age he knew the meaning of business.

He was born in 1981 and, at just 37 years old, is already considered one of the youngest and most influential CEOs in the country due to his work in the Mexican Restaurant Corporation (CMR). This corporate, inherited from his father, includes companies such as Wings, Chili's and Olive Garden. But even having 50 years of history, the path was not always easy for Joaquín Vargas Mier y Terán, who started from 12 years doing all kinds of jobs: storekeeper, garrotero, waiter and even dishwasher.

Keys to efficiency and making a business an empire

Joaquín Vargas Mier y Terán has been the General Director of the CMR since 2013, and his goal from the beginning was clear: transform processes and strategies, to get to have an international presence. But how?

  1. Modernize / digitize operations. As we have not tired of repeating in this blog, and Joaquín Vargas Mier y Terán verified, implementing technological platforms for the daily operations of any restaurant is a path towards efficiency. This is how the next point was achieved ...
  2. Financial strategy. With more efficient operations, it was possible to "clean up" the corporate operating income, with which in 2014 it achieved a growth of almost 7% (compared to the previous year's income) and strengthened the corporate's place in the Mexican restaurant market.
  3. Organizational restructuring. After closing almost 20% of the Wings coffee shops, he decided to focus on corporate business with the "casual dining" business and increased these businesses by 65% ​​(bringing in new brands, such as Olive Garden, Reb Lobster, among others).
  4. Trust of the partners. Thanks to the points already described, the international partners of the CMR (such as the owner of Chili's) feel comfortable doing business with them and even accompanying them at the end point of their growth.
  5. Do more than stay in the market. Joaquín Vargas knows that the steps taken have been the correct ones, but not satisfied with it, he now has the challenge of taking the corporate abroad and achieving growth even in the most remote corners.


As you can see, even inheriting what already seemed like an empire, the work is not over: innovation, risk measurement and digitization of operations will always be necessary on the path of that expected success. How many of these steps are you ready to implement in your restaurant?

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Source: CMR


Sources:
- http://www.elfinanciero.com.mx/empresas/los-ceos-mas-jovenes-y-los-mas-experimentados-de-la-bolsa-mexicana
- https://www.forbes.com.mx/el-mesero-que-heredo-un-imperio-restaurantero/
- Wikipedia

Author: LCS. Karyn J. Pérez Gómez