Restaurant | Technology

Technologies unification

As more operators turn to tech to improve their performance, it’s easy to get carried away with the many applications and softwares that will end up complicating the process. Technologies unification involves integrating cloud APIs to deliver simplified functionalities that allow operators to track their restaurant’s progress in real-time. Real-time tracking enables operators to constantly identify where and why sales are behaving the way they are, and to act on it accordingly. Visual tools such as dashboards allows this collected data to be readily accessible to operators, key stakeholders and even staff. This democratization of information leads to greater awareness and understanding of the business.

Productivity Software

As restaurants reopen beginning May 2020, they won't be fully staffed. Dining rooms with 200 seats will begin at 50 seats, before easing covenants increase this these social distancing limits to 50% of capacity, or in this example, 100 seats. But there is more risk here. Separating patrons isn't the the complete solution. HVAC and air flow matters too. Staff wearing masks, eliminating table settings, throw-away menus, clinical sanitation between guest service is also important. The reality is the industry has displaced over 6 million employees. Even if everything could be reopened at 100% capacity today, consumers may not be ready to return. And, that's a staffing and prep management issue. Purchasing, inventory, staff scheduling, reservations are all unknowns. Prior sales data is useless. We are back to guessing. Having access to next generation productivity software that supports efficiency will be a key to managing costs and generating more real time insights to help manage in a new era.

Conversational interfaces

Over 50% of all search is voice. This changes how consumers discover and order, make reservations. We also set our sights on the human interface and conversational commerce. This means using voice and text chatbots to enable consumers to order food, manage guest services, make reservations, manage guest satisfaction and engage interactively where billions of people are online already. The use of chatbots can also extend to B2B applications where operators from different verticals are able to order from other vendors. This accelerated ease of using voice platforms like Alexa, Google Assistant and Siri, and chatbots platforms like Facebook and Slack are permeating the industry as operators seek more efficient ways to quell the growing demands of their guests.

Improved communication and accessible education

F&B operators are increasingly aware of the importance of bridging gaps in communication between staff and consumers, as well as widening access to information that will inform them of better decisions to improve their service and business. Access to education will allow companies to understand their consumer better and allow them to decide how best to engage them. This means businesses can stay ahead of their consumers and anticipate their needs and wants — and anticipation is crucial in creating memorable guest experiences.

Automation - Food-maker robotics

The labor pool remains competitive and continues to shrink, the restaurant industry is particularly challenged to hire, train and retain quality and affordable FOH and BOH staff. Operators are no longer in control of their labor costs with state mandates for minimum wages increases and healthcare benefits. With thin margins, naturally, restaurant concepts must evolve in these changing and challenging times. Enter the food-maker robots that make and serve hamburgers, yogurt, pizza another food categories, just to start. We see low cost, high potential ROI's for entrepreneurs and existing operators and landlords. Food-maker robots and robot vending will affect how we conveniently consume fast food and snacks with no human interaction.

Our leadership team has broad reach to industry affiliates, business colleagues, restaurant leadership, and influencers, affiliates, dealers and media relationships. We bring decades of relevant experience to our investing partners and portfolio companies. We bring operations, culinary, development and corporate finance expertise. We have held BOH and FOH unit-level and C-level positions at regional and national chains. We are food and restaurant tech entrepreneurs, social media pioneers and digital transformation consultants.

We are practitioners and thought-leaders and with an operators' perspective. We are passionate about the restaurant industry and excited about how enabling technologies are transforming our industry every day. Technology helps create operational efficiencies leading to profitability and that make operators more competitive and relevant.

We have unique access to opportunities because we have been actively engaged as operators, digital media and Internet entrepreneurs, restaurateurs, financiers, food and restaurant technology sales and social media marketers for decades. We think automation is the new key to success in the broader foodservice industry. We have transaction experience as investment banker and entrepreneur. We live and work at the intersection of restaurant and technology working with clients and partners around the globe.

We are experienced entrepreneurs in food and beverage, restaurants, retail and Internet technology. We have an operator's perspective with vision and access to key resources required to execute on our plans. We invest, create and operate.

We invest in our own portfolio but can assist others in reaching their funding goals via Bailiwick Ventures.

We created the first restaurant social media community and network in 2007. The purpose was to connect and engage operators and no-operators and inform the industry about new emerging technologies that are transforming the industry. FohBoh.com, and the RestTech [infoh.com] Newsletter deliver news and information to over 80,000 industry professionals multiple times each week.

The restaurant industry is transitioning and we are helping to prepare it for these changes via RestTech.co, our global restaurant technology strategic advisory firm. We've migrated from no-stack to tech-stack, to an integrated cloud-tech platform. What's is next? An integrated AI brain, or restaurant operating system as the new optimized central hub for all API-based utilities and data. We're advising brands, investors, IT groups and innovators using our unique combination of restaurant operations, finance, technology and API integration expertise.