Address: 1421 N. Water St., Milwaukee, WI 53202
Website: www.lowlandsgroup.com
Year founded: 2006
Product or service officered: The Lowlands Group is a restaurant company made up of five grand cafes including Cafe Benelux, Two Cafe Hollanders, Cafe Centraal, And Trocadero Gastrobar.
Projected 2012 Revenue: $16.5 million
Leadership: Eric Wagner, co-chief executive officer; Mike Eitel, co-chief executive officer and Keith Mardak, investor
Target clientele: “People who eat. People who drink. People who are looking for a comfortable ‘third place’ in which to eat, drink, relax, entertain, etc.”
Business organization memberships: Local First Milwaukee, VISIT Milwaukee, Metropolitan Milwaukee Association of Commerce, F&B Council, Wauwatosa Chamber of Commerce, Historic Third Ward Association, Historic Third Ward Merchants, Downer Avenue Merchants Association, Wisconsin Restaurant Association.
What has fueled your company’s growth? “Many factors contribute to our growth, but one of the most important, if not the most important, is our people. We are very fortunate to work with management teams who are incredibly engaged and passionate about our company and our concepts. We were also very lucky to find an investor group that helped us recapitalize in 2010. Not only did they assist in financing our growth, they have become an invaluable resource and sounding board for strategic decisions.”
What is the biggest obstacle to your company’s growth? “Over the last five years, finding affordable financing for development has been our biggest obstacle to growth. As the lending world has started to open up, our biggest current obstacle is finding high quality real estate that meets all of our criteria. And of course, the sensationalizing of impending snow storms by the local weather forecasters acting as scaremongers doesn’t help.”
Who are the business people, locally or nationally, whom you admire? And what traits do those people exhibit that make you admire them? “The first person who comes to mind is Jack Stack, the author of ‘The Great Game of Business.’ The Lowlands Group embraces the practice of open book management championed by Jack (who, coincidentally, is Eric’s godfather).”
What is the outlook for the business conditions of your industry over the next several months? “Hopefully people will continue eating and drinking… While the weather is a constant friend or foe and totally unpredictable, we are very optimistic about our continued sales growth.”
What is your company’s key strategy for rising out of the recession? “While we are not immune to the macro economic fluctuations, we are somewhat insulated due to our price points. But the only way we can continue to succeed in today’s ornery economy is to keep doing the small things day in and day out – there are no silver bullets. We continue to invest in the physical spaces, in technology, and in our people.”
