My own lunch time legend. Throughout my working life I have probably traveled at a lunchtime rate of £500 a month. It's not tens of pounds, it's hundreds of thousands of pounds spent over many years.
You can see how much I enjoy business lunches. But he frequents members' clubs and devours what's on the wagon, he fumbles through the extensive wine list, and when it's time to go home he curls up in a winged armchair. Those days are long gone.
I've always been a proponent of business lunches and of workers getting kicked out of the office and going to a great restaurant. It's not because I'm some fat stuck in the halcyon days of business past. Nor is it because I want to go back to drinking-soaked meals. I rarely drink alcohol at lunchtime unless I have something to celebrate. This is a great way to get to know people better, explore new ideas, and win new business.
As a freelancer, my decisions about where I go and how much I spend are controlled by WWA (my wallet and whether it's worth it, my waistline, and my accountant. (Will it be recognized as an appropriate expense?)
When I started working, I was actively encouraged to expand my network at the company's expense. Companies are much more cautious with their spending these days. And no more corporate cards to burn.
The financial crisis, combined with fewer office days due to the pandemic, spelled the end of 1990s-style power lunches. Networking is often done electronically or at conferences. Or you can hold a company meeting based not on inspiration, but on a hearty sandwich that ignores taste and integrity. What happened to the art of lunch? And what new rules are there when it comes to spending and receiving bills?
The easiest cost for any business to reduce is expenses. Having lunch with coworkers and sticking the bill on your company card isn't the best use of your company's cash. This explains why companies often offer in-house catering.
In the 1970s and 1980s, it was the bosses who benefited. Partnerships in particular usually had a “partner” dining room, which served full silver service lunches, accompanied by fine wines galore with delicious dishes prepared by the chef that day.
Lunch has been democratized these days, with many leading companies offering a variety of meals to all employees. First, to lure them into the office, and second, to keep them there. This is especially true in the technology and financial services sectors.
If you're on a budget or have to pay the bill yourself, and you're having lunch with someone from a large company, ask to go to the company's in-house dining facility. Not only is this the best way to ensure customers pick up the tab, some of these facilities are world class.
Recently I was invited to lunch at Apple's new Battersea headquarters. The office is beyond cool, full of tech-clutching, bossy people. Today, everyone's ultimate boss is wearing a t-shirt, jeans, and funky sweatshirts. they do it very well. The lunch offering was excellent. Service stations offered all styles of meals at subsidized prices. Why do you need to go out of your way? That seems to be the point.
The sushi and sashimi were some of the best I've ever had, and the salad combinations were very creative. All served in state-of-the-art dining facilities that are as chic as the world's best restaurants. Yes, it's not table service and there's no wine, but who cares?
If you can't do that, don't be tempted by a pub or trendy street food joint just because you saw a great dripping burger on your Insta feed. They are for your personal time. Not even a chain. I'm not going to do business with someone who invites me to “go to Nando's” just because it fits their client's entertainment budget.
As with my recommendations, I'm well aware that I focus on London. The capital has hosted many great lunches, including a major securitization deal completion celebration. Start at noon with a Michelin-starred chef and finish thousands of pounds in a chic drinking spot with a corporate Amex behind the bar.
Ask ChatGPT where you live and it will list suggestions. For me, The Ivy, Sushi Samba, Smith & Wollensky, or The Ned came to mind. OK – these are options, but if I want to eat lunch properly, in my opinion, and I’m paying the money, I need to find a more interesting place.
You can't go wrong choosing a restaurant from the Caprice Holdings Group, but be sure to choose a “one-off” venue within the group. If you have more pockets than the Grand Canyon, there's Sexy Fish in Berkeley Square, Mayfair, or 34 Mayfair, just off Grosvenor Square. For the latter, choose the set menu for two courses for £28.50. If you turn to a la carte, you'll be stung. Dover sole is £52 and Wagyu sirloin is £130. If you want to be invited again, don't choose them.
Another favorite is Arlington in St. James. The menu is insanely delicious and the service is attentive. If you don't drink, he can get you away for less than £50 per person, including service. Perfect for doing business on a reasonable budget.
If you want style without the gold plating, choose a local or established restaurant, such as Da Paolo near Goodge Street. Authentic Italian cuisine off the beaten path. A quiet, secluded meeting is best for these types of venues.
No matter what you do, lunch should be an important part of building relationships. Be sure to offer to pay or agree to the next meeting if you would like a second one. And don't trust people who don't have time for lunch. If your partner is so busy that she can't get away from work for even an hour or two, you probably don't have much time either.
James Max is a television and radio host and real estate expert. The views expressed are personal. X, Instagram, Thread @maaaaaaaaaaaaaa
Letter in response to this article:
Beware the Business Lunch Firing Squad / John Kent, Benenden, Kent, England