Dave & Buster’s CEO, Chris Morris, is leading the restaurant company through a strategic shift from a bottom-line/labor management focus to a modernization approach. This transformation includes substantial investments in the food and beverage program, activities, facilities, and more.
Morris, who joined in June 2022 after the Main Event acquisition, highlighted the need for a comprehensive update, as the brand had not been refreshed in 15 years. The key emphasis lies in a remodeling program aimed at enhancing the overall customer experience, with a redesigned dining room to boost operations and food and beverage sales.
Recognizing the decline in the food and beverage mix over the last decade, Dave & Buster’s is taking steps to simplify its kitchen operations and streamline the menu. The company is eliminating complex items that proved inefficient, resulting in faster service and improved quality. The initial operational updates have already contributed to a 5% increase in food and beverage revenue per check.
Dave & Buster’s plans to continue refining its menu and innovate around appetizers, bowls, desserts, and sides to better cater to the preferences of its entertainment-focused guests. The company aims to convert more visitors into diners, addressing the underinvestment and undermanagement issues that affected the front-of-house operations.
In addition to menu changes, Dave & Buster’s is developing a digital guest engagement platform to gather customer data, investing in digital marketing, and experimenting with a tiered pricing system. The tiered pricing system is currently in testing, and Morris anticipates a 10% increase in game prices over the next three years.
The company is also expanding its activity options and events business to stay competitive in the evolving eatertainment landscape. The strategic reset encompasses not just remodeling but a holistic approach to rejuvenating the brand. The first remodel in Texas has exceeded expectations, with a significant increase in sales and special events.
Looking ahead, Dave & Buster’s plans to accelerate remodels, aiming for 45 units to be completed by the end of fiscal year 2024, with the majority remodeled by 2026. Morris is optimistic about the impact of these initiatives, expecting to see positive results in early 2024 and building momentum over the next 12 months, ushering in a new era for Dave & Buster’s.
