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Restaurant Research, founded in 2000, is a trusted source of proprietary data & analyses for clients that include leading restaurant chains, franchise finance players, large multi-unit franchisees, Wall Street analysts, private equity players and countless vendors that serve as important parts of the franchise finance eco system.

Restaurant Research has also developed a large, research-based email marketing platform which provides key analyses and information to a large and growing audience.

In 2022, we founded NoBull Research to bring our clients & audience research designed to help broaden their understanding of the consumer economy.

Phil Mangieri

Partner: Research, Content & Strategy

Phil founded NBE Media LLC (holding company for NoBullEconomics.com) in 2022 and co-founded Restaurant Research LLC. He was formerly FMAC’s SVP and Director of Research where he managed the Research Group’s franchisor relationships, created research processes and policies and designed research products. Prior to FMAC, he served as the head of all restaurant and energy related research for Lehman Brothers’ Franchise Finance Group.

Phil’s background also includes experience in equity research gained as a Vice President-Senior Research Analyst at Cowen & Company. He earned a Bachelors degree in economics from The College of William and Mary and an MBA from New York University where he graduated with honors.

Wally Butkus

Partner: Sales, Finance & Operations

Wally Butkus Headshot

Wally co-founded Restaurant Research and has been involved in analyzing the restaurant industry for more than 20 years. He manages Restaurant Research’s Industry Data Reports product, RR Thermometer Dashboard publication, and client relationships. Wally previously worked as a Senior Research Analyst at FMAC where he focused on the restaurant industry and concept trends. He graduated summa cum laude from the University of Connecticut with a bachelor’s degree in finance.

Matt Mangieri

Research Analyst: NoBullEconomics

Matt joined NoBull in the beginning of 2022 and has helped found it as a new venture, managing its research, analysis and digital marketing initiatives. Matt graduated with honors from Ohio University in 2021 with a dual major in Finance and Business Analytics. Before joining NBE Media, Matt worked as a financial analyst intern during his last semester at OU at the Fortune 500 company Westlake Chemicals Corp. 

Danny Mangieri

Research Analyst: Restaurant Research

Danny Head Shot

Danny is a recent graduate with a cum laude distinction from the University of North Carolina Wilmington where he double majored in finance and entrepreneurship & business development. He is responsible for researching and analyzing the restaurant brands under RR’s coverage. Danny is also responsible for managing NoBull’s Twitter account. Previously, Danny interned at Restaurant Research since 2017.

Damien Sanders

Analyst: Restaurant Research

Damien Headshot

Damien is a recent graduate from the University of North Carolina at Wilmington with a Bachelors of Science in Business Administration with a concentration in Economics. He is responsible for conducting the research and analyses for RR’s Industry Data Reports. Damien also is involved in NoBull’s social media initiatives. Previously, Damien interned at Restaurant Research since 2020 and has operational experience in the restaurant industry.

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