Every year, New Yorkers flock to the Hamptons, in hopes of enjoying the sun, atmosphere and great food.
In Southampton, a key real estate player that is behind the scenes of many Hampton favorites is Hal Zwick.
Zwick, of Compass Real Estate, an experienced Manhattan advertising professional is also a seasoned Hamptons business owner.
Throughout his professional journey, he has not only demonstrated a profound understanding of the industry but has also successfully navigated the competitive landscape.
The aftermath of the pandemic has disrupted the normal functioning of businesses, and the restaurant industry is no exception.
In Southampton during the post-COVID-19 era, restaurateurs have faced numerous challenges, with staffing shortages and inflation being prominent issues.
“Restaurant owners have been hit on all ends,” Zwick explained when asked how the restaurant business is handling the changes in our new world.
To stay ahead of the competition, Zwick has worked with his Hampton’s restaurant clientele to find a unique solution. He has assisted East End operators to overcome staffing shortages by providing housing for their employees.
Compass Real Estate was involved in helping restaurants procure older motels and houses to house their workers.
This provided a more cost-friendly option to people in the restaurant industry who could not afford housing in the expensive Hampton neighborhoods.
In the post-COVID era, a notable trend has emerged with an increasing number of individuals choosing to stay in the East year-round.
The year-round weekend population has reached unprecedented levels, signifying a significant shift in lifestyle and residency patterns.
This could be attributed to changes in work dynamics, with remote work becoming more prevalent, allowing individuals the flexibility to choose where they reside.
While discussing the restaurant industry in Southampton, Zwick talked about the most sought-after concepts for restaurants on the East End of Long Island.
“There’s certainly always a place for great seafood, but the Southampton market needs a great steakhouse,” Zwick noted.
Last year, an elevated Mexican restaurant, El Verano, opened, partially fulfilling the need for diverse cuisine. El Verano has done exceptionally well and is a favorite among locals.
Zwick pointed out what diners are looking for in eateries, and the answer is not likely what you would expect.
“People are not necessarily looking for white tablecloth, high end restaurants as much out here; they have that in the city. They’re looking for quality food and a casual atmosphere,” Zwick explained.
Hampton Bays is a bigger opportunity for restaurateurs, with more revenue opportunity than ever before.
The distinctive advantage lies in the abundance of waterfront real estate available for restaurants, a factor that distinguishes Hampton Bays from Southampton, with an already diverse array of restaurants.
Zwick explained that the rents are less expensive there, with a more casual vibe but equally beautiful beaches.
When considering where to open, the restaurant visionary Zwick, emphasizes a key strategy: identify a gap in the market and introduce a novel concept that the area currently lacks.
“This approach involves a thoughtful analysis of the local culinary landscape and consumer preferences to discern untapped opportunities,” Zwick detailed.
“This can be done in several ways, such as evaluating existing competitors to ensure that the proposed restaurant concept is distinct and complements the local dining options rather than replicating what’s already available as well as market research and analysis.”
“Consider the strengths and weaknesses of competitors to position the new venture strategically,” Zwick concluded.
By meticulously assessing the market, understanding the local community, and offering a fresh and distinctive concept, Zwick’s advice for Hampton’s 2024 underscores the importance of strategic planning and innovation in establishing a successful restaurant in a competitive market.
If you are looking for a unique Hamptons opportunity, you can contact Mr. Zwick by phone at 631-678-2460.
He can be reached via email at hal.zwick@compass.com. Zwick will be able to guide you through the process of finding a unique Hamptons restaurant marketplace opportunity.
