M&C Report talks to Stephen Wall, co-founder of Pho, the Vietnamese fast-casual concept, about his best investment, the best piece of advice he’s ever received and identifies the person who has had the most influence in his career.
What’s the most important action the industry can take to encourage the consumer? Focus on serving customers rather than chasing margins. It sounds simple but is self-fulfilling - serve customers good food in a great place and they’ll probably come back and tell their mates.
What single action could Government make that would make a difference? Support when creating a new business. It was a minefield, so complex it was almost enough to put us off. Entrepreneurs need to be guided and encouraged, not blinded by red tape when trying to create a business and ultimately jobs and tax for the Government.
What is your top priority? Making things better. Food, service, environment - the customer experience.
What has been your best investment? The airline tickets back to Vietnam on a regular basis - we were there just before Christmas - to remind ourselves first-hand what makes the country and the food something we bet the house on. It’s mad, brilliant and we come back every time with ideas on how to improve what we do.
What has been your best business decision? Aside from the original decision to give Pho a punt, choosing the right sites and the right people to work with us.
How much has your business changed to combat the recession? It hasn’t, we’ve traded through the recession and our pricing and value for money has appealed through these times. What we serve is great value, recession or not.
Who is doing something special in the industry?Yau’s Namyaa is an eye opener. A breathe of fresh air, something completely different and not just a cookie cutter concept that follows the pack. There are more but this is the most recent place I’ve been to that was different.
Most admired brand? Virgin and Branson. After all this time his simple ethos remains the same; trying to make things better. Which I’ve obviously signed up to….
Who has been most influential in your career?Jules, my wife and partner in crime. We’re as thick as thieves and without each other Pho wouldn’t exist.
What is the best piece of advice you have ever received? Learn to trust your gut instinct, it’s usually right. And try not to open a dud site.
