Host J.D. Durkin hospitality expert and TV personality John Taffer to the New York Stock Exchange for a lively conversation about the evolution of the bar and restaurant industry and the success of his hit show Bar Rescue, now in its 10th season after more than a decade on air. Taffer shares insights on how the industry has shifted from rapid expansion to profitability-focused strategies, leading many operators to close marginal locations while adapting to post-pandemic consumer habits, labor challenges, inflation pressures, and even the impact of GLP-1 medications on dining behavior. He explains why some restaurateurs see these trends as opportunities, such as offering smaller portions at adjusted prices to maintain margins while meeting changing demand. Taffer also offers candid advice for aspiring hospitality entrepreneurs, stressing that most bars don’t fail they simply run out of money so having sufficient startup capital is critical. The interview wraps with fun rapid-fire questions, where Taffer reveals his least favorite drink to order, his pick for a favorite NYC bar employees Only and why he believes banning cell phones could bring back the social magic that makes bars thrive.
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Look who I got here.
The great John Taffer is executive producer and host of the one and only Bar Rescue.
What a pleasure to have you here.
Welcome back to the New York Stock Exchange.
Great to be here, J.D.
This is always so exciting to be here.
Do you mind if I ask you if you use the mic, if you don't mind?
Very exciting.
I always love being here, of course, and you're always welcome back, and it's nice to see you again.
So this is amazing.
The show's been on for more than 10 years, but it's season 10.
Talk to me about some of the ways the hospitality industry has changed since your very first pilot episode of the show.
Well, you know, in the stock market, I just want to talk about business for a moment.
For many, many years, restaurant chains were rated on growth.
How many stores can you?
How many?
Well now we're focused on earnings.
So when the focus was growth, they opened a lot of marginal stores, a lot of stores that maybe shouldn't have been opened because the market was demanding growth.
Now the marketplace is demanding earnings and there's a lot of marginal stores out there from that spurt of growth.
So there's a compression happening in the industry.
We're starting to see companies pulling back, closing units.
Even successful operators are starting to close some units.
But I think post pandemic it's a different world.
I think consumer habits have changed.
Consumption has changed.
I think GLP medications have impacted the industry as well.
People aren't eating as much and they're going out.
And then of course the male labor force gets less and less every year.
So that's impacting us with regard to labor.
So we've got a number of issues that we're fighting to get passed right now controlling inflation.
No tax on overtime, no tax on tips.
These are little things that are helping us and some of the regulatory cutbacks are helping us as well.
But we've had a difficult few years for sure.
That's a fascinating note on GOP 1.
Had not even thought, I mean it's such a, it's a topic of top conversation for so many publicly traded companies, not just in the food and beverage space, but we hear it from the major airlines.
As well, what else is on your radar for that particular story?
It's an important one right now.
It is important to people, of course, are looking for value propositions in restaurants today, and the GLP-1 medications might be the way to get there.
So for example, we're assessing now smaller portions because we're finding GLP-1 users are throwing away half the food.
So why not reduce the portion.
Reduce the price a little bit, maintain your same operating margins on a percentage basis, but provide a better value proposition to those that are eating less.
So some operators see this as a problem.
I see it as a potential opportunity.
What advice would you give to any entrepreneur or investor who is seeking to enter the high volume food and beverage space in 2026?
You know, I find that bars and restaurants don't fail.
They run out of money.
So the trick to opening a bar and a restaurant today is have extra dollars.
I find so many operators that ran out of money in 90 days and they were so close to profitability.
Had they had enough money for another 60 days, they would have made it.
So if you don't have a thick experience book, have a thicker checkbook and make sure you have the dollars to weather those mistakes in the beginning until you get good at it.
I got a few rapid fire questions for you if you don't mind.
In your personal opinion, what is the worst drink to order at a bar?
Oh my God, the worst drink to order in a bar is probably something like a mai tai, because it's never going to be the same twice.
Do you have a favorite bar here in New York City?
Probably employees only.
OK, very nice.
What is worse in your opinion, a dirty bar or a boring bar?
A boring bar.
I mean, if the bar is exciting, you can get past the dirt.
Fair enough.
The best game or activity that a bar can have for bar patrons.
Oh, I think ball, and I would say billiards because it's a 20 minute game and you can have a couple of drinks in one game.
There you go.
I like that answer.
If you could ban one thing from bars forever, what would it be?
Well, smoking, but we've already banned that.
I'd love to ban cell phones from bars because the whole point of a bar is interactive.
I'm supposed to be looking at you, not my phone, all night long.
That's a really good one.
I hope to have a drink with you sometime.
John Taffer, host and executive producer of the one and only Bar Rescue.
What an honor it is to have you on the show.
Please come back and see us anytime.
Good to see you.
Great to see you.