Telecoms man takes big bite of catering sector

One More Thing:Entrepreneur Emmet Memery is best known in telecoms circles, but the Dubliner is planning to take a big bite out of the catering sector by expanding his Lemongrass chain of Asian restaurants.

Memery took full control of the loss-making franchise operation last year and has closed nine restaurants for non- compliance with their franchise agreements. He now plans to expand the chain around the country, including opening some company-owned eateries.

Lemongrass aims to offer guests "fine dining" at affordable prices. All of the vegetables and meats are prepped at a central facility in Kilcullen before being delivered to the restaurants.

Memery says this ensures a consistently high standard of food will be served.

The latest member of the Lemongrass family opened in Killarney this week. A new outlet opened recently in Sligo and deals are in place for Wexford and Clonmel. He wants the chain to double in size to 20 and is eyeing up sites in Blackrock, Swords, Kilkenny and Galway.

Wexford will be company- operated with Memery to spend €1.25 million on a 160- seat, three-storey restaurant on the town's quays in July. "This will be our flagship," he says. "It's important we invest something into the business, too, to create value for the franchise operators." A new menu is also ready to be served up.

Lemongrass contributed €2.4 million in turnover to Memery's Oyster Group last year. He expects this to rise to €3.5 million this year and to a spicy €5 million in 2009.

Memery has pencilled in a hot 14 per cent net margin for each eatery.

"That is the minimum target I expect each restaurant to make," he says.