Inside George Calombaris’ $21 million empire

Celebrity chef George Calombaris has snapped up an emerging entrepreneur award, with the MasterChef star recognised for tripling The Press Club Group’s turnover in four years to $21 million.

Calombaris, who owns four restaurants in Australia and one in Greece and has 380 employees, was last night awarded the emerging entrepreneur of the year award at the Ernst & Young Entrepreneur of the Year southern region awards held in Melbourne.

After co-founding the high-end Press Club restaurant in Melbourne in 2006, Calombaris has opened another four restaurants, authored three cookbooks and launched a signature range of kitchen products – as well as appear as a judge on the smash-hit cooking program MasterChef.

The 32-year-old told SmartCompany in June the business was breaking monthly records in the “very hard game” of hospitality, and he had really worked his butt off.

“I think I’m one of the luckiest men on earth to have businesses that are running, that are successful,” Calombaris said.

“There are a lot of restaurants out there doing less than 5% profit; you could put your money in a term deposit and generate more income out of that.”

“Your main sources of income are food, beverage and service, and if you don’t get those three right, you’re in a world of pain.”

In addition to The Press Club Group’s annual turnover tripling to $21 million, Calombaris’ personal brand turns over $2 million per annum, E&Y says.

The judges praised Calombaris for playing to his strengths, including his passion, attention to detail and professionalism.

“George is rapidly building a strong brand with a reputation for quality and fun, based on a sophisticated and scalable business model,” they said.

Calombaris was inspired to cook by his mother and grandmother. His father owned independent supermarkets.

He will contest the Australian Ernst & Young Entrepreneur of the Year national awards in November. There is no monetary reward for winning. The winner of that will then compete at the global awards in Monte Carlo next year.