Founder's Story

Steve Salis on Building &pizza, Surviving COVID, and the Power of Execution

The CEO of Catalogue.co shares how he turned a simple pizza concept into a cultural beacon, navigated a near-total financial collapse during the pandemic, and why endurance is the ultimate business skill.

Steve Salis built &pizza by focusing on creating a mom-and-pop community experience at scale. He survived a $47 million debt load during the COVID-19 pandemic by prioritizing execution and endurance over mere ideas, viewing risk as a quantifiable metric rather than a fear-based obstacle.

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33 minJun 26, 2026Founder's Story

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He had a 9-Figure Exit (Then Almost Lost It All) | Ep. 412 with Steve Salis CEO of Catalogue.co

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Key takeaways

What to know before you press play.

01

Restaurants as Cultural Beacons

Successful restaurants function as cultural gathering places that connect communities and memories, requiring consistent delivery of brand, product, experience, and hospitality.

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02

Quantifying Risk

Founders should categorize risk into known knowns, known unknowns, and unknown unknowns to quantify it, rather than letting fear paralyze decision-making.

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03

Execution Over Ideas

Ideas are common, but execution is rare. The ability to operate an idea into reality is what distinguishes successful builders from dreamers.

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04

Endurance in Crisis

During the COVID-19 pandemic, Salis faced $47 million in debt and zero revenue. He emphasizes that endurance is the most critical attribute for surviving business hardships.

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05

Premium and Approachable

Salis learned during the financial crisis that premium quality and approachability can coexist, a principle he applied to making &pizza feel like a local mom-and-pop shop.

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Ask GenPod next

Keep the question moving.

01

How can founders quantify 'unknown unknowns' in their business models?

02

What strategies can small businesses use to maintain community connections during economic downturns?

03

How does the concept of 'premium and approachable' apply to industries outside of hospitality?

Background reading

The context behind the episode.

Early Career

From College Dropout to Food & Beverage

Salis moved to New York City at 21 as a college dropout, sharing a one-bedroom apartment with four others. He entered the food and beverage industry initially to support himself, later opening a tequila taqueria bar during the financial crisis.

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Personal Background

The Underdog Mentality

Growing up lower middle income in New Hampshire, Salis watched his father lose his business in 2008. This background fostered an underdog mentality, driving him to fight for everything he built.

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Questions

Questions to carry into the episode.

How does Steve Salis define the role of restaurants in a community?

He views them as cultural gathering places that connect people, communities, and memories beyond just the food, requiring consistent hospitality and brand delivery.

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What was the impact of the COVID-19 pandemic on Salis's business?

It was one of his hardest entrepreneurial moments, with lenders calling for $47 million in debt while revenue collapsed to zero, forcing him to finance payroll.

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What is Salis's framework for managing risk?

He categorizes risk into known knowns, known unknowns, and unknown unknowns, arguing that founders should quantify risk instead of being stopped by fear.

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Why does Salis believe execution is more important than ideas?

He states that ideas are common but execution is rare, and his competitive advantage is the ability to take an idea and operate it into reality.

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What lesson did Salis learn from opening a business during the financial crisis?

He learned that premium quality and approachability can coexist, a principle he later applied to the &pizza brand.

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Experts

Voices named in the source.

Sources and disclosure

Where this guide comes from.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

  1. Publisher show notes

    Daniel and Steve Salis dive into what it really takes to build restaurants at scale, from creating a brand people love to delivering hospitality every single day.

  2. Publisher show notes

    Steve explains how restaurants become cultural beacons inside communities, why &pizza was built to recreate the feeling of a local mom-and-pop pizza shop, and how he turned a simple observation inside a Qdoba into a scalable fast-casual pizza concept.

  3. Publisher show notes

    The conversation also goes deeper into risk, COVID, personal sacrifice, underdog mentality, and why Steve believes the ability to execute is what separates real builders from people with ideas.

  4. Publisher show notes

    Key Discussion Points

  5. Publisher show notes

    Steve explains that restaurants are difficult because they require a great brand, great product, great experience, and an extraordinary hospitality model working together consistently.

  6. Publisher show notes

    He describes restaurants as cultural gathering places, saying the best ones connect people, communities, and memories far beyond the food itself.

  7. Publisher show notes

    Steve shares the origin of &pizza: he wanted to recreate the mom-and-pop pizza shop experience for the modern consumer, using pizza as a conduit for community and belonging.

  8. Publisher show notes

    He recalls moving to New York City at 21 as a college dropout, living in a one-bedroom apartment with four other guys, and entering food and beverage just to support himself.

  9. Publisher show notes

    Steve explains how opening a tequila taqueria bar during the financial crisis shaped one of his core principles: premium and approachable can coexist.

  10. Publisher show notes

    He breaks down his approach to risk through three categories: known knowns, known unknowns, and unknown unknowns, arguing that founders need to quantify risk instead of letting fear stop them.

  11. Publisher show notes

    Steve says ideas are common, but execution is rare, and what makes him dangerous is his ability to take an idea and actually operate it into reality.

  12. Publisher show notes

    He shares how COVID became one of his hardest entrepreneurial moments, with lenders calling about $47 million while revenue collapsed to zero and he was financing payroll.

  13. Publisher show notes

    Steve explains why endurance is the most important attribute in business, because when you are going through hell, the only option is to keep moving one day at a time.

  14. Publisher show notes

    He reflects on being an underdog from New Hampshire, growing up lower middle income, watching his father lose his business in 2008, and having to fight for everything he built.

  15. Publisher show notes

    Takeaways

  16. Publisher show notes

    Restaurants are not just food businesses; they are emotional, cultural, and community-driven experiences that must earn attention every day.

  17. Publisher show notes

    Risk is not something to avoid blindly. Steve’s framework is to quantify what can be known, prepare for what might happen, and accept that some unknowns are just life.

  18. Publisher show notes

    The difference between dreamers and operators is execution. Plenty of people have ideas, but few people can turn those ideas into scalable companies.

  19. Publisher show notes

    Premium does not have to mean inaccessible. Steve’s hospitality philosophy is built around delivering extraordinary experiences through premium and approachability.

  20. Publisher show notes

    Endurance beats hype, timing, and even talent when the business gets hard, because founders have to survive long enough for the wins to compound.

  21. Publisher show notes

    Closing Thoughts

  22. Publisher show notes

    Steve Salis’ story is the founder playbook for turning pressure into vision and vision into execution.

  23. Publisher show notes

    He built through financial crisis, scaled through category disruption, survived COVID, and kept pushing into what he calls his second act.

  24. Publisher show notes

    This episode is a reminder that the restaurant business is brutal, but for the right founder, it can become a platform for culture, community, and legacy-defining brands.

  25. Publisher show notes

    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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