So-called “conscious” business practices like sustainable sourcing and enhanced pay and benefits for workers are great for a company’s reputation, but are they good for business?
Norman Wu thinks so. He’s the cofounder and CEO of Conscious Hospitality Group, a Seattle-based group with six brands in its portfolio, all of which are built on a foundation of practices and products that are better for people and the planet. The group’s signature grand, fast casual Just Poke, will double in size in 2022, expanding from 15 units to 31.
Wu joined the latest episode of Take-Away with Sam Oches to talk about how the company’s ethos is to thank for Just Poke’s explosive growth, how putting people over profits makes good business sense and how scale is everything when it comes to running an eco-friendly business.
In this conversation, you’ll find out why:
- Customers are willing to pay a premium to support brands they think are doing things the right way
- A strong brand ethos can help you scale more quickly
- Customers are more perceptive than ever about sustainability — but you should still communicate it as much as possible
- Eco-friendly products and practices aren’t as expensive as you think
- A conscious business may be more expensive, but ultimately leads to positive ROI
- Brands that align with customers’ values might be recession-proof
Contact Sam Oches at [email protected].