In this episode of Emerging Franchise Brands, host Frank Fiume welcomes Joe Buonavolanto III, Executive Vice President of Buona Restaurants and Original Rainbow Cone. Joe shares the inspiring journey of his family’s business, which started with a modest Italian beef stand and has grown into a flourishing franchise.
From Humble Beginnings to Franchise Expansion
The story begins in 1980 when Joe’s grandfather took a leap of faith by taking a second mortgage on his home to start a small Italian beef stand in Berwyn, Illinois. Over the years, through hard work and dedication, Buona Restaurants expanded steadily, adding more locations and eventually venturing into off-premise catering. Joe’s narrative highlights the importance of family values, with multiple generations contributing to the business’s success.
The Addition of Original Rainbow Cone
An exciting chapter in Buona’s history unfolded in 2016 when the family was approached by the owner of the iconic Original Rainbow Cone, a beloved ice cream shop in Chicago. This partnership allowed Buona Restaurants to diversify and expand their brand. Joe describes the synergy between the two businesses and how this unique combination has captivated customers.
The Strategic Shift to Franchising
The decision to franchise was significantly influenced by the challenges posed by the COVID-19 pandemic. Recognizing the strength of their brand, the family saw franchising as a path to sustainable growth. Joe explains how the transition to franchising required careful planning, a robust support system, and a commitment to maintaining the brand’s high standards.
Navigating Challenges and Celebrating Successes
Joe candidly discusses the challenges of site selection, supply chain management, and ensuring consistent quality across all locations. Despite these hurdles, the company has successfully opened 35 franchise locations, with 38 more in development. Joe emphasizes the importance of having franchisees who are passionate about the brand and are dedicated to upholding its values.
A Bright Future Ahead
With plans to reach 100 locations in five years, Buona Restaurants and Original Rainbow Cone are set for continued growth. Joe reflects on the pride his family feels, knowing their hard work has built a legacy that continues to thrive. He also shares valuable advice for aspiring franchisees, emphasizing the need for thorough preparation, strong support systems, and a commitment to collaborative growth.
For anyone interested in franchising or learning from a successful family business, this episode offers a wealth of insights and inspiration. To learn more about Buona Restaurants and Original Rainbow Cone, visit their franchise website. Tune in to the full episode for an in-depth look at their remarkable journey.
September 8, 2024
