[innagadadavida]

Do you think the margins were low because they just used higher quality ingredients and did not doing any food management? If so the next owner can optimize these inefficiencies and extract value from the brand value.

[Humboldtsnee]

Is using a higher quality ingredient an inefficiency? It seems like it produces a different product.

[transcriptase]

I mean…

gestures broadly at every company large enough to hire MBAs

[mediaman]

Usually it’s more structural than that. Too much competition, too few customers, too little scale to afford the type of talent that can optimize inefficiencies. There is a reason these small localized businesses tend not to produce outsized profits.