A restaurant deeply rooted in the region for 30 years
Set in the heart of the Acadian Peninsula, L’Oriental is a true local gem. After opening its doors on Caraquet Wharf in 1994, the restaurant soon became one of the region’s don’t-miss culinary destinations, thanks in no small part to its tasty buffet, which attracted a loyal following.
France Truong Tran, the restaurant’s founder and owner for over 30 years, dedicated herself to building a much-loved spot known for its high-quality, home-style cooking and original recipes. But after decades of running the business, the time had come for her to pass the torch to someone new.
A natural transition to a new owner
As a born entrepreneur with a keen interest in all things gastronomic, Vanessa Paulin-Savoie had been a patron for many years before seizing the opportunity to take over the restaurant. Having grown up in a business-oriented family, she knew as a teenager that she wanted to run her own company. One thing she didn’t want to do, however, was to take on the risks associated with start-ups. Instead, she decided to take over an existing business with a rock-solid clientele.
While exploring opportunities on SME Succession Hub (SMESH), a platform operated by RDÉE New Brunswick, Vanessa found out that L’Oriental was up for sale. After a few discussions with Ms. Truong Tran, she earned the latter’s trust by showing just how serious she was.
“Vanessa wasn’t the first person to reach out to me, but she was the most serious. From our very first meeting, I got the feeling she was ready to pitch in and work hard to keep the restaurant afloat.” – France Truong Tran, former owner
A structured acquisition/transfer process
Taking over a business is a complex endeavour that requires both patience and preparation. Since the official signing, Vanessa has gradually started getting involved in the restaurant, working in the kitchen and the dining room to gain a solid understanding of how the business operates. This hands-on immersion helped her quickly adapt to the pace and become part of the team.
“Waiting for the paperwork was my biggest challenge: I’m a very high-energy person who likes it when things happen fast. But all in all, the learning process was very helpful.” – Vanessa Paulin-Savoie, new owner
France Truong Tran played a key role during the transition, deciding to stay involved in the restaurant for a year after the sale and providing support in three key areas: administration, cooking and customer service.
“You can’t ask Vanessa to do in the space of six months what I accomplished over 28 years. Learning takes time. Plus she’s very adaptable.” – France Truong Tran
A promising future for L’Oriental
Vanessa has no plans to change the restaurant’s concept. She wants to keep all the things that have helped build the restaurant’s success over the years while making a few minor improvements, mostly involving the equipment and process automation to make things easier for the employees.
“Many people have asked me if I’m going to change the menu. But why would I tinker with something that’s doing so well? The customers keep on coming back for the unique taste of our food.” – Vanessa Paulin-Savoie
Ms. Paulin-Savoie is also committed to maintaining a good workplace atmosphere while ensuring a smooth transition for the existing team. The staff also voiced their satisfaction with the idea of having a young local francophone businesswoman take over the business.
In conclusion: SMESH’s pivotal role in the transition
“The sale of the restaurant was advertised exclusively on SMESH. The platform played a pivotal role in bringing us together and helping us to carry out this transition.” – France Truong Tran & Vanessa Paulin-Savoie
As Ms. Truong Tran enjoys her well-deserved retirement, Ms. Paulin-Savoie is embarking on her entrepreneurial adventure. This all shows that taking over a business can take place against a backdrop of trust, in keeping with the underlying core values.
Thanks to its solid community roots and a new owner brimming with enthusiasm, L’Oriental’s future beckons brightly!