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A well-known company with an excellent reputation for superior products or services can be known as a “brand” just by its name alone (such as Coca-Cola, often known as Coke). Brand recognition for a trademarked brand can lead to significant sales and national distribution, but it requires a large advertising and marketing budget—especially in a heavily competitive industry.
Your company brand can be a valuable asset, no matter the size of your business. Strong branding in terms of company name, image, and product lines can increase value. It starts with having a competitive brand advantage.
Companies with a competitive advantage are typically valued higher compared to companies that offer a “me too” product or service.
Having a competitive advantage allows a business to charge a premium price for their products or services. Companies can achieve a competitive advantage with innovative products and exceptional quality. Innovative products are difficult to copy, and customers will pay a premium for a real or perceived difference in quality over and above competing products or services.
The Grace and Pearl Restaurant is a Southern Bistro by Chef Keith Logan located in Nashville’s historic Downtown district. Chef Logan started with a butcher shop that slowly evolved into a restaurant concept. Chef Logan and his business partner, Holly Burke, opened their restaurant in 2019.
Chef Logan is thirty-five years old and has been cooking since he was eighteen. He grew up with Southern cooking and attended Nashville State Community College, where he was in the culinary program. After completing the program, he went to New York, where he graduated from The International Culinary Center (founded by the French Culinary Institute). After graduation, Logan returned to Nashville to embrace his roots.
Before opening their restaurant, Logan and Burke took their time to get to know their ideal customer. Based on their market research and experience, they knew what would appeal to their customers.
The mission of Grace and Pearl is to create high-quality food with integrity. Grace and Pearl has a local, seasonal, handcrafted, farm to table menu and is located in an old industrial building with beautiful bone structure.
When Logan and Burke first looked at the building, they saw potential in its many architectural features. They also liked that the neighborhood has a deep sense of community.
The restaurant is an embassy of Nashville cuisine, showcasing the best traditions, techniques, and ingredients the region has to offer, from bone marrow with caramelized green tomato jam to blue cheese from the Ozarks to fragrant garlic scape hush puppies.
Live fire cooking and smoked meats are not trends unique to Nashville, but Logan’s restaurant enjoys an enviable place because his Downtown space is in an area with a lot of history and soul.
The restaurant’s interior eschews dark masculine tones for a clean, bright and airy look with caramel banquettes and a veritable rainforest of tropical plants sucking up the sun through floor-to-ceiling windows that wrap around the building. Logan credits sophistication of the space and city with his ability to connect customers to items on his menu.
When they started their business, Logan and Burke were intentional about creating their brand assets that include: the highest quality food, a trademarked name, reputable image, unique business location and interior, and word of mouth.
Do one thing: Prepare an inventory of your brand assets and identify ways to increase the brand value of your company.
Thanks for reading.
