“We went to Texas, and we were trying to find concepts that didn't exist already in the marketplace and a place where we could create our own niche,” Smith says. “For instance, I'm not gonna go to Texas and open up a steakhouse. Probably not the place to do that. There's a lot of great steakhouses in Texas. … It's all revolving around how can we bring our expertise around seafood and some of the other things that we're doing and and and create a new brand in the marketplace.”
Owning more than two dozen unique concepts does present its challenges, however. To simplify operations as much as possible, Atlas uses like product when it comes to basic ingredients and protein. As an example, the company uses Meats by Linz for meat at all of its restaurants and uses Samuels and Sons for seafood. Same cuts, but different preparation, seasonings, and flavors, depending on the restaurant property. For training, Atlas does its best to streamline steps of service and culture. Smith says 80 percent of what they teach employees is a core competency across the system, while the remaining 20 percent is specific to the brand.
Workers start at $15 per hour; for servers and bartenders, that includes the tip credit. But Smith emphasizes the wage level is for entry-level positions. Waiters typically make $25-45, line cooks make $20-24, and hosts make $18-22. Additionally, Atlas covers roughly 55-60 percent of health insurance.
Looking ahead, Atlas plans to enter Washington, D.C. in 2023 with two additional concepts, Lucha Rosa and Parlour Victoria. Both will open in the Moxy Hotel. The group also foresees more growth for Marmo and a fourth location for Loch Bar.
Atlas will likely have five Loch Bar locations open by 2024. Smith attributes the brand’s success to its approachability. A customer can either purchase an appetizer for $12-14 or spend $125 on a live lobster or prime ribeye steak. There’a also 400 brown spirits, local beers on tap, and live music seven days a week.
“We have people showing up at the store at 11, 11:30, 12, all the way till 1 o'clock in the morning, so the opportunity to create revenue is an all-day-long experience,” Smith says. “Also because because the concept is I would say 25 percent raw bar driven, you don't need as big a facility to execute the concept as far as the kitchen and everything else. We’ve got Loch Bars in 2,700 square feet all the way up to 4,500 square feet. So it works in small spaces or it can work in a bigger space.”
Smith is wary of a potential dip in the economy, but he doesn’t think it will change growth plans. That’s because Atlas isn’t borrowing any bank debt, paying interest rates, or making major acquisitions.
He says the group is “living within our means,” when it comes expansion. If cash flow changes, Atlas will adjust, but right now, everything is on schedule.
“Our approach is organic growth,” Smith says. "That’s what it is. Just organic growth. Slow growth— expanding with our own cash flow and just inching along.”