Michele Mattei’s Post

Revenue management comes to the restaurant industry!

In this week's first spotlight on our #SevenVentures Pitch Day 2024 finalists, we're thrilled to welcome Hendrik Sander and NeoTaste to the lineup! NeoTaste is a dynamic food discovery app, connecting food lovers across nearly 50 cities in Germany, the Netherlands, Austria, and the UK with exciting new restaurants, all while enjoying exclusive discounts. It’s a win-win for diners looking for hidden gems and restaurant owners eager to attract new patrons. We had the pleasure of sitting down with Hendrik, CEO and Founder of Neotaste, to get a sneak peek into his pitch. 1. What inspired you to start your company, and how does your product make a difference in the world? We believe dining should be about experiences—bringing people together, creating memories, and enjoying culinary adventures. But the current way people discover restaurants is fragmented. They’re bouncing between Google Maps, Instagram, and restaurant websites, missing out on what truly matters—the experience itself. On the other side, restaurant owners are struggling to connect with new customers, and many are closing their doors. NeoTaste was born to bridge this gap. We’ve created a platform that brings people back into restaurants, making it easy for diners to find and experience new places, while empowering restaurant owners to thrive. Today, we’re proud to help over 1 million users and 6,000 restaurants connect and grow together.     2. What has been your biggest challenge as a startup, and how did you overcome it? Launching NeoTaste was exciting, but then, just three weeks later, COVID-19 hit the world. For 1.5 years, we faced the unknown, not knowing when we could fully launch again. Keeping the company alive during this time took incredible resilience and belief in our vision. It was a tough challenge, but ultimately it was the best decision to stay on course, as we’re now positioned more strongly than ever.     3. Why do you think your startup deserves to win SevenVentures Pitch Day 2024? We see a unique opportunity to build a category-leading company—not just in Germany, not just in Europe, but globally. NeoTaste has the potential to redefine how people discover dining and how restaurants grow, creating a win-win solution for both sides. Winning SevenVentures Pitch Day would accelerate our journey, allowing us to make a greater impact and bring even more people together and into restaurants. Catch Hendrik from NeoTaste and our three other dynamic finalists live on stage at SevenVentures Pitch Day on October 15th during the New Com Summit. Tune in for the excitement, streaming free on #Joyn from 17:45 CET. Don’t miss it—see you there! 

🍽️ Changing the Dining Game: The Story of SkipTheDishes 🍽️ 🚀 SkipTheDishes made its mark in 2012 with a bold vision: to simplify food delivery. In just a few short years, they expanded beyond Winnipeg and now serve customers nationwide and internationally. Their seamless platform connects diners with local restaurants, providing a convenient and reliable delivery service. 🍲 What sets SkipTheDishes apart? Their commitment to customer satisfaction. Their user-friendly interface and efficient delivery system have made them a go-to option for foodies everywhere. SkipTheDishes continues to lead the way in making dining experiences hassle-free. 🌍 SkipTheDishes' story is a testament to Winnipeg's startup scene's vibrancy. Their journey showcases the potential for innovation in the dining industry. Want to be part of the dining revolution? Follow @SkipTheDishes for the latest updates and offers. Do you have a startup or business you'd like featured? Let me know, and I can include it in one of my posts! #StartupJourney3 #FoodDelivery #SkipTheDishes #WinnipegStartups #OrderNow

Excited to share my latest project! 🎉 Check out the All-in-One Restaurant Management Dashboard on Behance. Designed for efficiency, it helps restaurant owners make data-driven decisions and streamline operations. #RestaurantManagement #RestaurantTech #Foodservice #HospitalityTech #RestaurantOperations #RestaurantEfficiency #RestaurantOwner #RestaurantLife #RestaurantMarketing #RestaurantData #DataDrivenDecisions #BusinessIntelligence #RestaurantAnalytics #CustomerExperience #GuestEngagement #RestaurantMarketing #RestaurantLoyalty #Startup #Innovation #FutureofFood #DesignInnovation #UIUX

This was a must-watch for me. This Week in Startups (my favorite show about tech) hosting Jonathan Neman, co-founder of Sweetgreen (my favorite foodservice brand). Inspiring. Here are a few of my personal highlights: ✅ Learned about a book called “Unreasonable Hospitality” (added to my reading list at the very top) ✅ Sweetgreen is poised to start rolling out automated kitchens — which is crazy (is this the first big brand that managed solve the CAPEX problem with robotics in foodservice?) ✅ It was super sad to hear that Sweetgreen gave in to the aggregators, even though they are so strong in their own digital channels (does this mean we are all doomed in foodservice?) ✅ Loved the idea of “Spotify” for food - such a promising concept, although quite challenging in implementation. All and all, highly recommended!   https://lnkd.in/dxv6qsdu

Restaurant365 orders in $175M at a $1B+ valuation to supersize its food service software stack  The edifice manufacture successful the U.S. is expected to walk $1 trillion successful sales for the archetypal clip this year, contempt wider economical pressures connected consumers. Now Restaurant365, a startup gathering tech to negociate those businesses, has raised a blistery circular of $175 cardinal to capitalize connected that growth.  The backing is being led by ICONIQ Growth with KKR and L Catterton besides participating, each existing backers of the company. Restaurant365 is not disclosing its valuation with the round, but Tony Smith, the co-founder and CEO, confirmed to TechCrunch that it is an upround. “We’re excited that it continues to turn and that we person precise supportive investors down us,” helium said. For immoderate context, past twelvemonth – erstwhile the startup raised $135 million – it disclosed that it had passed a $1 cardinal valuation.  The startup is besides not disclosing immoderate updated figures connected usage. Last year, we reported that its bundle was being utilized successful 40,000 locations, and that is inactive the fig it is sharing today. It looks similar successful 2023 the institution generated $100 million successful revenues, based connected per-location pricing that starts from $469 per determination per month. Based retired of Irvine, CA, Restaurant365 competes provides an all-in-one level for edifice businesses of antithetic sizes to negociate their accounting, inventory and workforce, on with an analytics suite to assistance recognize trends wrong the concern – everything fundamentally extracurricular of constituent of merchantability transactions. Smith said that the program volition beryllium to usage the wealth to proceed expanding its suite of products, arsenic good arsenic its lawsuit basal connected the heels of the institution buying and digesting ExpandShare, a edifice grooming platform, successful April 2023. “We are besides earmarking immoderate funds for aboriginal acquisitions,” helium added. Although Restaurant365 is utilized by some autarkic restaurants and larger chains, different large absorption volition beryllium gathering tools catering to “major hospitality brands,” helium said.  Unlike a batch of radical who leap into the satellite of gathering solutions for concern users, Restaurant365 does not person its DNA successful the satellite of nutrient work per se. “By the clip I graduated assemblage I’d had 12 jobs [only] 1 of which was astatine a pizza restaurant, truthful I wouldn’t accidental my edifice acquisition was robust,” Smith said.  Rather, helium was a techie who saw an accidental to code a wide problem. “My archetypal occupation retired of assemblage was successful exertion and it was breathtaking to spot the abor...

At 1912 Ventures, several of our restaurant clients have pivoted their business models to capture the growing percentage of customers who are opting for takeout and delivery instead of traditional dine-in. Full disclosure: in addition to working with restaurant owners/operators/franchisees and real estate developers with their real estate; and owning stock in public food delivery/technology platforms, I have made venture investments in multiple startups focused on digital ordering/delivery and contactless payments. DRIVE-THROUGHS * Drive-through transactions spiked during the pandemic as millions of Americans preferred this method to keep a safe social distance. * Since the pandemic’s end, drive-through usage has remained strong. * Drive-throughs generally have higher sales volume and margins; hence, they offer better returns on the capital invested. * Despite their popularity, drive-throughs are notorious for long lines and poor order accuracy. * In H1 2023, the number of dine-in and takeout orders were down ~45% and ~36% relative to 2019 (pre-pandemic) levels while drive-through traffic only declined ~12%. (Source: Revenue Management Solutions). DIGITAL ORDERING * More digital orders, dedicated pickup lanes, and the abundance of data collected from consumers is expected to improve the drive-through experience by shortening wait times and improving order accuracy. * Fast food brands are testing different technologies and assessing their capital investments ... while simultaneously experiencing declining traffic due to inflation cutting into consumer budgets. * Digital ordering allows restaurants to collect more consumer data like food preferences and behavioral patterns, which should translate into more accurately forecasted customer demand and customized promotions. IMPACT ON REAL ESTATE * Existing restaurants are being re-configured and/or relocated to new purpose-built structures. Dining rooms are shrinking, and the number of drive-through lanes is increasing. * The adoption/desire for more drive-through lanes has driven up the price for desirable land sites. * Over the past decade, the average rent for freestanding properties with drive-throughs is ~12% higher than those properties with no drive-through. For 2024, the gap has widened to 18% (Source: CBRE). * Rents for these restaurants have doubled over the past decade in some locations due to higher land costs, higher construction costs, entitlements, and market/investor expectations. https://lnkd.in/g8_pWqFn #commercialrealestate #cre #restaurants #retailrealestate #houstonrealestate #leasing #restaurants #franchisee #landlords #tenants #stnl #productivity #payments #digitaltransformation

🔍 When implementing new technology, @Leon Davoyan, CTO @Dave's Hot Chicken, suggests that restaurant franchisors involve a few franchisees as test sites and offer financial support for the initiative. This approach provides valuable insights and prepares the company for a smoother company-wide rollout. Want to learn more from Leon? 📺 Watch the full Innovation Forum session from #FSTEC, "Yours, Mine, and Ours: How restaurant execs work together to optimize their tech stack investments." 👇 https://lnkd.in/g4F-9abB 🔗 As a sister company of Milagro, Vivant is here to support your journey in optimizing restaurant technology. #RestaurantTech #Innovation #FranchiseSuccess #TechnologyInvestments #FSTEC #Milagro #Vivant 4o

In today's competitive restaurant landscape, staying ahead means embracing innovation. Dynamic pricing isn't just a buzzword; it's potentially a game-changer for eateries aiming to optimize revenue while enhancing customer satisfaction. However, it needs to be rolled out and handled responsibly. Check out this article from the team at Fast Casual discussing embracing the power of flexibility, maximizing revenue potential, and delighting customers with personalized experience through dynamic pricing. #dynamicpricing #restaurants #customerexperience