Tulane Innovation Institute Young Entrepreneurship Academy students learn lessons in business from Chef Edgar Chase at Chapter IV
 

Tulane Innovation Institute's Young Entrepreneurship Academy students recently visited Chapter IV, a storied New Orleans restaurant helmed by Chef Edgar “Dook” Chase IV. As part of a hands-on learning experience, the young aspiring entrepreneurs got a glimpse into the grit, passion, and legacy behind running a successful family business.

The restaurant, nestled in the heart of Tulane’s Thirteen15 building, is much more than a dining spot; it’s a testament to the power of community. Chef Chase welcomed the students with gumbo, family stories, and hard-won advice.

“Community is a driver of entrepreneurialism and sustainability,” Chase said, addressing the group. “You also must know every aspect of the business—start as a dishwasher or server. If you know the business, you can be the best version of yourself, and if you give your team the tools to succeed, they can be the best they can be.”

Chase’s advice didn’t stop at teamwork and community. He explained that running a restaurant can have thin profit margins and rising costs, which is all about mastering numbers. “Margins are so thin. You must manage labor, food, and operational costs—every part of the business. And then you figure out how to be profitable.”

Chase’s finance and economics degree played a role in shaping his approach to business. He detailed to the students the importance of understanding balance sheets, profit and loss statements, and supply and demand, down to the price elasticity of seafood on his menu. “The cost might go up, but you can’t just change the price for customers,” he said, noting how inflation impacts the bottom line.

During the visit, the students asked about Chase's handling of the pressure of continuing a family business and his marketing strategies for attracting new customers. 

Chase shared how he decided to leave corporate America to join his family’s business after Hurricane Katrina and now the pride he has in mentoring the fifth generation of the Chase family.

Chase reflected on the challenges that have tested his family’s business—Hurricane Katrina and the COVID-19 pandemic.  He also shared how the civil rights movement shaped and developed the first restaurant when Dooky Chase opened in 1941 and was a historic hub for bringing community members together.

“Our mission has always been more than hospitality,” he said. “It is about service to our community. The community keeps you going when tough times come, like during COVID-19, when we served curbside meals to community members when there were no tourists.”  Chase emphasized that this is why it has endured for 83 years, expanding into multiple airport locations and continuing to build a legacy for future generations.

For the young entrepreneurs, the visit to Chapter IV was a lesson in the heart of entrepreneurialism: community service and perseverance.
 

The Patrick F. Taylor Foundation, Blue Cross Blue Shield of Louisiana (Louisiana Blue), Elevance Health, and New Orleans BioInnovation Center sponsor Tulane's Young Entrepreneurship Academy.