Ratnesh Bagdai
Coming from a family background of accountants and various businesses, I guess I was always destined for a career in finance. At the outset I really enjoyed studying economics and geared myself up for a role with a city or investment bank.
After completing my studies and with a large overdrawn bank balance, I took the first job I was offered at Sheraton Hotels. My father was not happy at the time and wanted me to follow the traditional route of working in an accounting firm, which was simply not me.
The role at Sheraton was great, I learned everything in terms of F&B control, budgets and whilst acting as Duty Manager, the important role of hospitality. The group was huge and soon I wanted a role that reverted around me and not a corporate international entity.
After a small stint at a city wine bar operation, I had a call from Jeremy King from The Ivy and Caprice Group. He explained that the group were embarking on the opening of the third restaurant, J Sheekey and needed someone to head up the finance team, arrange appropriate funding and strengthen the board. It was the Board appointment that I was most interested in and that’s how I started to work alongside Mark Hix who was appointed to Chef Director.
Working with Mark was great, I introduced IT and networking to the group, new software and F&B programmes. Mark clearly saw the benefit in increased control, better margins without threatening the quality. It was the financial awareness that both he and I thrived on in our working relationship. The introduction of an F&B margin incentive and wage cost incentive across the group clearly worked and numbers took off in the right direction.
The group then went onto various acquisitions and mergers with Signature Restaurants PLC. This was great for everyone and really opened up everyone’s view of the industry at large. It was at that stage that Mark and I decided to venture out and open a restaurant ourselves. We did it with a fellow Director Des McDonald and opened the Rivington Grill in Shoreditch. Humble investment with a humble business approach, weekly meetings and rent-a-crowd evenings at the start but soon after it enjoyed year on year success.
In 2003 I left the group to take up a number of consulting opportunities that came my way, to name a few, Rick Stein and Brindisa Ltd were of particularly interest. I have never looked back.
I always felt Mark would at some stage venture out and put his name above the door. Hix Oyster and Chop House was the ideal location and has been a great success. Our Fish House in Dorset is an ideal setting and helps enhance the whole business.
I am now working more closely with Mark than ever before and he seems to be a lot more business astute which can only be good for the both of us.
