The Restaurant Prosperity Formula - podcast cover

The Restaurant Prosperity Formula

David Scott Peterswww.davidscottpeters.com
If you’re ready to stop being a prisoner in your restaurant and finally have the life you’ve been working for, you are in the right place. Podcast host David Scott Peters is a restaurant industry veteran and the original restaurant coach. He spent decades perfecting the systems that helped thousands of independent restaurants reclaim their profits and freedom. He created the Restaurant Prosperity Formula™, which includes a proprietary budgeting system, and it has the power to drive down restaurant owners' food and labor costs by an average of 23%. To learn more about David and his formula, visit www.davidscottpeters.com or pick up a copy of his book, "The Restaurant Prosperity Formula: What Successful Restaurateurs Do."
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Episodes

How this Restaurant Owner Runs Four Restaurants and Still Has Time for a Life

What does it take to go from pulling double shifts in your family’s restaurant to running four successful locations while still making time for family? In this episode of “ The Restaurant Prosperity Formula” podcast , I sat down with Matt Jacobs, a Pennsylvania-based restaurant entrepreneur who built Ben Franklin’s Tap Room and now owns three Jersey Mike’s franchises. Matt shares his journey of starting out overwhelmed, underpaid and stuck in the day-to-day grind to creating systems, building a ...

Aug 20, 202538 minSeason 2Ep. 131

Why this College Bar Owner Uses Restaurant Coaching

When restaurant burnout hits its peak, what comes next can be your most powerful transformation. In episode 130 of The Restaurant Prosperity Formula podcast, I flip the script, literally. Longtime restaurateur and community favorite Bob Cady takes over the mic to interview me in a deeply personal and insightful conversation. We dive headfirst into the mindset challenges that make or break independent restaurant owners, the pivotal moments that lead to transformation, and why systems alone won’t ...

Aug 06, 202553 minSeason 2Ep. 130

How to Promote Restaurant Staff Well-Being

Ever wonder why some restaurants seem to hum along like a perfectly tuned engine while others grind through each shift with staff drama and burnout? In this episode of “The Restaurant Prosperity Formula” podcast, I dig into one of the most overlooked drivers of restaurant profitability and long-term success: staff well-being. This isn’t fluff. It’s about results — better retention, higher morale, and ultimately, more money in your pocket. You’ll learn why mental health, work-life balance and bui...

Jul 23, 202522 minSeason 2Ep. 129

How One Brewery Owner Turned Financial Chaos Into A Thriving Restaurant Business

What does it take to save a restaurant that’s drowning in costs, even when customers love your food and rave about your beer? In this episode of the Restaurant Prosperity Formula Podcast , I sit down with Ian McCall of ISM Brewing to unpack his journey from overwhelmed restaurateur to confident, profitable business owner. Ian’s story is a wake-up call for every restaurant and bar owner who thinks passion alone is enough to survive. In this episode, we reveal the behind-the-scenes struggles Ian f...

Jul 09, 202551 minSeason 2Ep. 128

How Jolt Checklists and Software Create Accountability in Restaurants

When restaurant owners dream of freedom from the grind — financial, operational and emotional — what they really need is a system. In episode 127 of the “ Restaurant Prosperity Formula Podcast ,” I sat down with CJ Lewis, co-founder and COO of Jolt, a restaurant operations platform that has redefined how accountability, food safety and systems should work in the real world. If you’ve ever struggled to get your team to follow checklists, keep temps in line or stay consistent without you breathing...

Jun 25, 202547 minSeason 2Ep. 127

Restaurant Owner and Coach Share Secrets of Success

What happens when the coach becomes the one in the hot seat? In this episode of “The Restaurant Prosperity Formula,” we shake things up with a special “Flip the Table” segment. This time, the questions come from restaurant owner Jeff Fitter, a straight-shooting operator with a knack for digging deep and cutting through the fluff. If you’ve ever wondered how restaurant coaching works behind the scenes, how to become a stronger leader in your restaurant, or how to truly build a business that serve...

Jun 11, 202554 minSeason 2Ep. 126

How to Get Your Restaurant Guests to Come Back Again and Again

Let’s be real — this industry is tough. In today’s podcast episode of The Restaurant Prosperity Formula , I dive deep into one of the most make-or-break elements of restaurant success: the guest experience. With fewer guests walking through the door and competition tighter than ever, delivering a memorable visit isn’t optional — it’s survival. Episode 125 is a masterclass in creating experiences so remarkable your guests can’t wait to come back. I explore what truly defines hospitality, why vagu...

May 28, 202535 minSeason 2Ep. 125

How Restaurant Owner Stopped Managing and Started Leading

In this episode 124 of “The Restaurant Prosperity Formula” podcast, I sit down with longtime friend, client and now colleague, David Militello. Militello is a restaurant owner in South Haven, Michigan, and one of the first five members I ever coached. Over the years, he’s evolved from a struggling operator to a master of restaurant systems and now serves as a member mentor in my group coaching program. In this episode, Militello shares his journey from burnout to balance, the lessons he’s learne...

May 14, 202553 minSeason 2Ep. 124

A Restaurant Growth Strategy That Works

In this episode of The Restaurant Prosperity Formula podcast, I had the pleasure of interviewing Mark McShaffry, a seasoned restaurant owner with nearly 40 years of industry experience. After starting his career with Houston's, McShaffry eventually took the leap into independent ownership, opening The Backyard Grill in 2001. Since then, he’s grown to operate multiple concepts, including Creekwood Grill and Aero Crafters, all while becoming deeply rooted in his community. In this conversation, Mc...

Apr 30, 202548 minSeason 2Ep. 123

Restaurant Owner Quizzes Restaurant Coach on Operations and Success

In this special episode of the Restaurant Prosperity Formula podcast, I turn the mic over to one of my longtime members and friends, Raul Gonzalez, for a segment we call Flip the Table. Gonzalez is not only an inspiring restaurant owner but also a shining example of what happens when you commit to systems, leadership and constant improvement. In this episode, Gonzalez asks the questions — diving into my background, the lessons I’ve learned and the core of what drives me to help restaurant owners...

Apr 16, 202556 minSeason 2Ep. 122

How to Stop Your Restaurant Managers from Bringing You Every Little Problem

One of the most common (and frustrating) issues restaurant owners face is managers who bring you every little problem instead of solving things themselves. If you feel like you can’t get anything done without being interrupted, I have some solutions for you. In this episode of The Restaurant Prosperity Formula podcast, I tackle exactly why it happens and, more importantly, how to stop it. You’ll learn how to retrain your managers to think like owners, make decisions with confidence, and stop rel...

Apr 02, 202526 minSeason 2Ep. 121

How One Restaurant Owner Built a Thriving Business and Gained Her Freedom

Running a restaurant can feel like an endless grind — long hours, constant stress and financial uncertainty. But what if you could step back from the day-to-day operations and still have a successful, profitable restaurant? In this episode of The Restaurant Prosperity Formula Podcast , I sit down with Deja Wakefield, a former teacher turned restaurant owner, who shares her journey from being overwhelmed by restaurant ownership to running two thriving businesses with systems that give her true fr...

Mar 19, 202551 minSeason 2Ep. 120

Restaurant Owner’s A-ha Moment and How She Took Back Control

Running a restaurant is no small feat — especially when life throws unexpected challenges your way. In this episode of The Restaurant Prosperity Formula podcast, I sit down with Tina Wary, owner of Dixie Grill Barbecue and Crab Shack in Hawaii. Wary shares her powerful journey from working behind the scenes in her family’s restaurant to stepping up as the owner after the sudden passing of her husband in 2020. Her story is one of resilience, leadership and the power of systems. After struggling w...

Mar 05, 202542 minSeason 2Ep. 119

Restaurant Owners Can Use this Formula to Dominate Social Media

One of the biggest reasons restaurants struggle with sales isn’t always the food or service — it’s awareness. Either people know about you but don’t care, or they would care if they knew about you. My guest today, Josh Kopel, calls this the Awareness Formula, and in this episode of my podcast, The Restaurant Prosperity Formula, he shares powerful strategies that help restaurant owners become known in their market. Kopel has mastered a critical component of restaurant success: marketing. He is no...

Feb 19, 202548 minSeason 2Ep. 118

How to Turn Restaurant Managers into Change Leaders

If you’ve ever struggled to get your managers on board with new systems or changes, you’re not alone. In this episode of The Restaurant Prosperity Formula podcast, I dive into exactly why managers resist change, how you can turn that resistance into results and how to empower your restaurant managers to lead change. Managing your managers and getting them on board with change isn’t always easy, but it’s absolutely necessary for your success — and theirs. I encourage you to listen to this episode...

Feb 05, 202512 minSeason 2Ep. 117

How to Use Your Restaurant Customers’ Feedback for Good with Ovation’s CEO

In this episode of my podcast, The Restaurant Prosperity Formula , I had the privilege of chatting with Zack Oates, founder and CEO of Ovation. Ovation is a cutting-edge guest experience platform that helps restaurants collect and act on customer feedback in real-time. Oates’s passion for helping restaurants thrive shines through, and his expertise in using data to drive guest satisfaction and retention is something every restaurant owner should hear. We explored how gathering actionable feedbac...

Jan 22, 202552 minSeason 2Ep. 116

How Restaurant Owner Used Coaching to Save Her Business

In this episode of “The Restaurant Prosperity Formula” podcast , Vicki Moore, owner of a sports bar and grill in Illinois, joins me to share her journey from bartender to restaurant owner. After purchasing the struggling bar eight years ago, she transformed it by revamping the menu, improving quality, and creating an inviting atmosphere, growing annual sales from $275,000 to $1.2 million. Despite her success, Moore faced intense challenges, including overwork, stress and health issues, as she in...

Jan 08, 202547 minSeason 2Ep. 115

Game-Changing Tips from a Restaurant Expert and Restaurant Owner

In episode 114 of The Restaurant Prosperity Formula podcast, I welcome Kris Schoenberger, a long-time member of my coaching programs and a highly successful restaurateur, for a special "Flip the Table" segment. In this episode, Schoenberger takes on the role of interviewer, asking me personal and professional questions that reveal insights into my career, work ethic and philosophy on success in the restaurant industry. Schoenberger shares his inspiring story of building a restaurant empire, incl...

Dec 25, 202446 minSeason 2Ep. 114

Inspire Your Restaurant Team with Your Reason for Existing

In the fast-paced, often chaotic world of restaurant ownership, it’s easy to feel overwhelmed — constantly putting out fires, answering questions and making every decision yourself. If this resonates with you, there’s a way to reclaim your time, empower your team and find true freedom. It’s to define and share your why . In this episode of my “Restaurant Prosperity Formula” podcast, I discuss this game-changing principle. Listen to this episode for the explanation of the principle, why it’s so i...

Dec 11, 202412 minSeason 2Ep. 113

Insights from an Owner on the Cutting Edge of Restaurant Growth and Management

My guest for this episode of The Restaurant Prosperity Formula is Avery Ward, CEO of Little Italy Pizza in Ohio and a mentor in my coaching program for restaurant owners. Our discussion highlights Ward's journey from working directly in his restaurant to leading a thriving multi-unit business with a team of 80 employees. He shares key insights into leadership, building a strong management team and using tools like video to drive business growth. Ward also discusses his role as a mentor, where he...

Nov 27, 202457 minSeason 2Ep. 112

What Happens When Two Microsoft Retirees Buy a Restaurant

My guests this week on The Restaurant Prosperity Formula podcast are two restaurant owners who've turned their business around and found their definition of success. Angie and Doug Brown, owners of The Cove Restaurant and Peninsula Golf Course in Long Beach, Washington, came from Big Tech careers. They both worked at Microsoft, spent time raising a family and then looking toward retirement, followed Doug's passion for golf and purchased a golf course and restaurant back in 2007. Their goal was t...

Nov 13, 202454 minSeason 2Ep. 111

Watch What Happens When Two Restaurant Owners Get Their Coach on the Hot Seat

In this special “Flipping the Table” episode of my podcast, “The Restaurant Prosperity Formula,” Jonathan and Brianna Cowan, multi-unit restaurant operators, take control, turning the tables on me for an insightful interview. Here's a glimpse of our conversation, full of takeaways on leadership, persistence, and what it takes to thrive in the restaurant industry. I’ve known the Cowans for going on 15 years, and I’ve seen their transformation into prosperity firsthand. They own a 65-seat restaura...

Oct 30, 202445 minSeason 2Ep. 110

Invest in Your Restaurant Team So They Invest in You

Building a strong restaurant team isn’t about luck — it’s about being intentional, setting the right tone and leading by example. Hire the right people, train them well, hold them accountable, and recognize their efforts. When you invest in your team, they’ll invest in you and that’s when your restaurant will truly prosper. In this episode of “The Restaurant Prosperity Formula,” restaurant coach David Scott Peters explores a topic that many restaurant owners overlook but is essential for success...

Oct 16, 202415 minSeason 2Ep. 109

Get Pumped Up with David Scott Peters and Restaurant Marketer Matt Plapp

As a restaurant owner, you won’t want to leave your restaurant’s future to chance, but it can be overwhelming to set goals and develop the plans you need to achieve them. One proven way to get clear on your goals is to put them in writing. and share them with your team. This kind of vision, or a vivid vision, can give you the direction you need to drive sales, build a strong culture and ultimately achieve long-term success. In this episode of my podcast, “The Restaurant Prosperity Formula,” Matt...

Oct 02, 20241 hr 2 minSeason 2Ep. 108

FREE AT LAST! How One Restaurant Owner Broke Free from Frustration

Running a restaurant is no easy task. For Daniel Herrero, taking over his family's 48-year-old restaurant business in Panama meant inheriting four restaurants, a bakery, and a commissary — and all the chaos that came with them. It’s a familiar story for many restaurant owners, one of hard work, long hours and personal sacrifice. In this episode of the restaurant podcast, The Restaurant Prosperity Formula, Herrero shares his journey and shows that even when you're knee-deep in problems, there's a...

Sep 18, 202445 minSeason 2Ep. 107

Top Restaurant Operator Interviews David Scott Peters

This episode of my podcast, The Restaurant Prosperity Formula, launches a segment I call Flip the Table where a restaurant owner takes over the podcast and interviews me. Today’s Flip the Table features a longtime member of mine who is not only a top operator but over the years has coached and consulted with me: David Militello. He owns four different restaurant formats in a tourist town in Michigan. He and I have known each other for 20 years. He was one of the first five members of my mastermi...

Sep 04, 202446 minSeason 2Ep. 106

5 Tips to Advance Restaurant Inventory Management

In the restaurant industry, success is defined by more than just the quality of food — it's about having control over your business and achieving financial freedom. One of the most crucial aspects of this journey is mastering food inventory management. In this episode of season two of my podcast, The Restaurant Prosperity Formula, I’m sharing five advanced tips that can transform how you manage your inventory and, ultimately, boost your restaurant’s bottom line. Use what you learn in this podcas...

Aug 21, 202424 minSeason 2Ep. 105

A Collection of Labor Cost Tips for Restaurants

When it comes to managing your restaurant’s cost, you absolutely can’t ignore labor. It is the second biggest expense in a restaurant – after an empty seat in the restaurant. Labor cost management is an essential topic for achieving restaurant prosperity and financial freedom. The last few episodes of The Restaurant Prosperity Formula podcast have been a collection of some of my best and most popular tips on three very popular categories for restaurant owners: food cost (Episode 101), systems (E...

Aug 07, 202426 minEp. 104

Use these Leadership Tips to Run a Successful Restaurant

Leadership is not just a buzzword; it’s the driving force behind every successful restaurant. By combining leadership with action, systems and training, you can create prosperity for yourself and your restaurant. In this episode of The Restaurant Prosperity Formula, I’m sharing some of my best leadership insights from past podcast episodes to highlight the critical importance of leadership in the restaurant industry. I explore why leaders matter, the role of a growth mindset in developing leader...

Jul 24, 202431 minEp. 103

Not Using Restaurant Systems? Don’t Miss this Episode!

Today's special recap episode of my restaurant podcast, The Restaurant Prosperity Formula, is focused on systems and why they’re so important in restaurant management. You’ll learn what I mean by systems, why they are crucial and how you can use them specifically in the kitchen to safeguard your restaurant when you lack a culinary background. We'll also discuss how systems impact your restaurant and ultimately your life. And last but not least, I share a portion of an interview with restaurant e...

Jul 10, 202420 minEp. 102
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