Wisking it all Angelo Esposito

About the Episode
In this episode, Lauren Fernandez, the CEO of Full Course, shares her journey from being a lawyer to becoming a restaurant operator and entrepreneur. Raised in an immigrant family, she was instilled with a strong work ethic and a belief in generational improvement. After obtaining a law degree and an MBA, she made the career shift to become a restaurant owner. She bought three restaurants and quickly turned them around, eventually building a total of 11 restaurants. This experience led her to identify three major challenges in the restaurant industry: the lack of fair and equitable capital for early-stage restaurants, the need for expertise in scaling businesses, and the lack of support and mentorship for founders and employees. These challenges inspired her to start Full Course, a company that provides education, mentoring, consulting, and investment support to emerging and established restaurant brands.

Full Course is an incubator, accelerator, and investor in early-stage food and restaurant brands. They provide growth capital, operational support, and development expertise to help founders stabilize, optimize, and grow their brands. The company offers a wide range of education and coaching services, including a free learning center and a Navigator group coaching program. They are committed to supporting underrepresented founders and promoting diversity in the industry.

Full Course is actively seeking restaurant brands that are differentiated and have a strong purpose and mission. They have upcoming investments and are launching their second fund.

Takeaways:

Lauren Fernandez's career shift from lawyer to restaurant operator was influenced by her upbringing in an immigrant family and a belief in generational improvement.
The challenges she faced as a restaurant owner inspired her to start Full Course, a company that provides support and resources to emerging and established restaurant brands.
Full Course focuses on addressing the lack of fair and equitable capital for early-stage restaurants, the need for expertise in scaling businesses, and the lack of support and mentorship for founders and employees.
Fernandez emphasizes the importance of clear expectations, repeatable actions, and rewarding desired behavior in creating efficient and successful restaurant operations. Full Course is an incubator, accelerator, and investor in early-stage food and restaurant brands.
They provide growth capital, operational support, and development expertise to help founders stabilize, optimize, and grow their brands.
Full Course offers a wide range of education and coaching services, including a free learning center and a Navigator group coaching program.
They are committed to supporting underrepresented founders and promoting diversity in the industry.
Full Course is actively seeking restaurant brands that are differentiated and have a strong purpose and mission.
They have upcoming investments and are launching their second fund.

Timestamps:
00:00 Introduction
01:01 What makes Lauren Shift from General Council to A Restaurant Operator
04:30 Lauren's Experience in her First Restaurant
08:28 Reinvesting in Your Employees
10:24 How Lauren Achieved Multiple Restaurant Investments
16:15 Organizing Inventory Management System
20:08 Training Staff and Reward Systems
21:54 Tasks Delegation
24:15 Empowering and Improving Processes
26:14 Full Course: Incubator, Accelerator, and Investor
27:30 Operational Support and Subject Matter Expertise
29:31 No Extra Costs Needed: Full Course Foundation: Education Platform and Learning Centers
30:13 Resources to Expect from Full Course
33:41 Seeking Differentiated Restaurant Brands
38:10 Success Stories
42:09 Future Plans and Programs
44:41 Where to find Full Course

About the Episode
In this episode, Carl Orsbourn, Author of "Delivering the Digital Restaurant" and Consultant in the hospitality space, shares his journey from working at big companies like BP to diving into the startup world. He discusses the importance of operational experience and the lessons he learned during his transition to entrepreneurship. Carl also talks about the inspiration behind his book, highlighting key concepts such as leveraging marketplaces and transitioning to a direct channel. He emphasizes the significance of collecting customer data and remarketing to create a personalized customer experience.

Additionally, Carl Orsbourn discusses various topics related to the restaurant industry, including capturing customer data, direct ordering, the future of delivery and logistics, dynamic pricing, and the role of technology in restaurants. He also talks about his involvement with Juicer and the concept of data-driven pricing. Carl shares his insights and experiences, providing valuable information for restaurant owners and operators.

Takeaways

Operational experience is valuable and can be applied across different industries and company sizes.
The restaurant industry needs to embrace digitization and off-premise dining to stay competitive.
Marketplaces provide access to incremental customers, but restaurants should aim to transition to a direct channel to build customer loyalty.
Collecting customer data is crucial for remarketing and creating personalized experiences. Capturing customer data is crucial for restaurants to build relationships and communicate with customers in the future.
Restaurants should consider using their on-premise business to promote their direct ordering channels and loyalty programs.
The future of delivery and logistics in the restaurant industry is still evolving, with potential solutions including alternative delivery channels and automation.
Dynamic pricing can be a powerful tool for restaurants to optimize revenue and provide personalized experiences for customers.
The integration of technology and data in the restaurant industry is essential for improving operations and enhancing the customer experience.

Timestamps:
00:00 Introduction and Background
01:20 Transition from Big Companies to Startups
05:40 Writing the Book on Restaurant Digitization
08:30 Venturing into Juicer and Advisory Roles
09:03 Lessons from Transitioning to Entrepreneurship
10:38 Overview of the Book: Delivering the Digital Restaurant
13:02 Insights from Being a DoorDash Driver
16:11 Leveraging Marketplaces and Transitioning to a Direct Channel
22:29 Capturing Customer Data and Direct Ordering
24:02 The Future of Delivery and Logistics
28:11 Dynamic Pricing and Consumer Perception
32:14 Introduction to Juicer and Data-Driven Pricing
40:45 Carl's Current Endeavors and Future of Restaurant Technology
45:00 Where to Find Carl and His Work

About the Episode
Vishal Agarwal, Founder and CEO of Checkmate, delves into the company's pivotal role in integrating third-party orders into restaurant POS systems. He outlines how the organization has expanded to support over 50 POS systems and 100 ordering platforms, propelling restaurants into a state of digital omnipresence.

Vishal shares his motivation for founding the company, centered on a deep understanding of the challenges faced by restaurant operators. He underscores the commitment to customer-centricity, highlighting the offer of risk-free trials to demonstrate the solution's effectiveness. Vishal also details the company's approach to piloting and scaling their solutions for prominent brands, along with the essential business practices that underpin their success, including the importance of assembling the right team and maintaining comprehensive documentation.

Furthermore, he explains Checkmate’s strategies for helping restaurants safeguard and augment their revenue through innovative power management and continual evolution. He points out the benefits of real-time dashboards and alerts that allow for the monitoring and optimization of digital operations. Vishal also discusses how Checkmate enhances customer satisfaction through optimized menus and A/B testing, and concludes with insights into the future of restaurant technology and the impact of remote work on urban centers.

Takeaways

Checkmate integrates third-party orders into restaurant POS systems, helping restaurants become digitally omnipresent.
Understanding the pain points of restaurant operators is crucial for developing effective solutions.
Putting customers first and offering risk-free trials can lead to successful partnerships with large brands.
The process of piloting and scaling involves optimizing menus, customizing solutions, and providing exceptional service. Having the right team and solid documentation are fundamental for business success.
Checkmate helps restaurants manage and protect their revenue through power, management, and evolution.
Real-time dashboards and alerts are used to monitor and optimize digital operations.
Optimizing menus and offering A/B testing can improve customer satisfaction.
The future of restaurant tech lies in consolidation and finding a balance between centralized and distributed solutions.
Remote work is here to stay, but downtown cores may not fully return to pre-COVID levels.

Timestamps
00:00 Introduction and Overview
00:47 Checkmate Overview
03:19The Inspiration Behind Checkmate
05:10 Developing and Creating Solutions
11:46 Checkmate’s Success Stories
15:23 How Checkmate Enable and Provide Technological Solutions to their Customers
18:36 Running and Managing Multiple POS Systems Smoothly
20:40 POWER, MANAGE, and EVOLVE: Managing and Protecting Restaurant Revenue
25:29 How Checkmate Satisfy their Customers through Menu Optimization
28:43 Hard Work, Consistency, and Resilience: Key to Achieving Goals
29:52 The Next Few Years of Restaurant Tech
32:53 The Impact of Remote Work on Downtown Cores
37:13 Where to Find Checkmate

About the Episode
Jennifer Ryan, the Co-founder and CEO of Croux and Blueroot, shares her journey in the tech and hospitality industry. She started as a server in New York, then went into finance and real estate before launching a healthy food restaurant in Alabama. During the pandemic, she faced challenges in the restaurant industry and realized the importance of listening to customer feedback and focusing on what truly moves the needle. She then co-founded Croux, a platform that connects trusted talent with understaffed businesses in the hospitality industry.

Croux is a platform that provides flexible work opportunities for individuals in the hospitality industry while helping businesses fill staffing gaps. The mission is to economically empower communities, starting with individuals and local businesses. The platform offers benefits, tax support, flexible schedules, and fast payment to support workers. It also helps businesses retain their core staff by providing additional support and extra hands when needed. Croux focuses on the event space and works with businesses that are mission-aligned. The company is experiencing growth in existing markets, expanding to new markets, and developing new technology features.

Takeaways

Listening to customer feedback and focusing on what truly moves the needle is crucial for success in the restaurant industry.
Iterating and evolving quickly is essential for survival and growth in the hospitality industry.
Being open to feedback and willing to make changes based on customer needs can lead to unexpected success.
Starting a tech company like Croux can be a way to address industry challenges and support businesses in the hospitality sector.
Techstars can provide valuable support and resources for entrepreneurs in the tech industry. Croux provides flexible work opportunities for individuals in the hospitality industry and helps businesses fill staffing gaps.
The platform focuses on economically empowering communities, starting with individuals and local businesses.
Croux offers benefits, tax support, flexible schedules, and fast payment to support workers.
The platform helps businesses retain their core staff by providing additional support and extra hands when needed.
Croux is experiencing growth in existing markets, expanding to new markets, and developing new technology features.

Timestamps:
00:00 Introduction and the Importance of Croux in the Hospitality Industry
03:03 Challenges and Listening to Customer Feedback in the Restaurant Industry
08:48 The Journey from Restaurant Owner to Tech Founder
13:06 The Role of Iteration and Evolution in the Hospitality Sector
24:09 Techstars: Empowering Entrepreneurs in the Tech Industry
26:59 Balancing Staffing Needs and Business Viability
28:27 The Challenge of Low Wages and Thin Margins
29:24 Economically Empowering Communities Through Croux
31:14 Onboarding and Using the Croux Platform
34:35 Roles and Opportunities on Croux
36:27 Utilizing Croux in the Event Space
38:43 Retaining Core Staff and Filling Staffing Gaps
43:57 Growing and Expanding Croux

About the Episode
Marcus Viscidi, VP of Enterprise Sales at Informa Connect, discusses the trends and challenges in the food service industry, particularly in relation to trade shows and conferences. He highlights the importance of technology in streamlining operations and improving customer experiences.

Viscidi also mentions the rise of plant-based options and sustainability as key trends in the industry. He emphasizes the need for experienced and well-capitalized operators in the restaurant business and discusses the importance of addressing food waste and reducing single-use plastic. The conversation covers topics such as plastic waste in the restaurant industry, trends in the post-COVID landscape, and trade shows in the food service industry. The main themes are sustainability, industry trends, and trade shows.

Takeaways

Technology plays a crucial role in streamlining operations and improving customer experiences in the food service industry.
The rise of plant-based options and sustainability are important trends in the industry.
Experienced and well-capitalized operators are more likely to succeed in the restaurant business.
Addressing food waste and reducing single-use plastic are key sustainability challenges in the industry. Plastic waste is a significant issue in the restaurant industry, with approximately 30% of food purchased in restaurants going to waste.
Restaurants are exploring ways to reduce waste and optimize their ordering to minimize food waste.
The post-COVID landscape has seen a shift towards convenience and experience as key factors for consumers.
Alcohol consumption among Gen Z is decreasing, which may impact full-service restaurants that rely on alcohol sales.
Trade shows, such as the National Restaurant Association show, provide valuable opportunities for networking, learning, and staying updated on industry trends.

Timestamps
00:00 Introduction and Background
07:55 Trends in the Restaurant Space
12:39 The Future of Technology in the Restaurant Industry
22:01 The Impact of Changing Alcohol Consumption Habits

About the Episode
Jim Taylor, founder and CEO of Benchmark Sixty Restaurant Services, shares his journey in the restaurant industry and the lessons he has learned along the way. He emphasizes the importance of people and data in the industry and how they can drive success. Jim also discusses the services provided by Benchmark Sixty, including improving productivity and addressing cost of goods sold (COGS) in restaurants. He encourages collaboration and staying on top of industry insights to drive innovation and growth.

Takeaways

The restaurant industry is all about people, and retaining and protecting employees is crucial for success.
Understanding and managing data and information is essential for improving productivity and making informed decisions.
Benchmarking against oneself is more valuable than comparing to others, as each restaurant has unique factors that affect performance.
Addressing workload and preventing burnout is key to reducing staff turnover and improving employee satisfaction.
Collaboration and sharing insights within the industry can lead to innovation and growth.

Timestamps
00:00 Introduction
01:19 Early Career in the Restaurant Industry
03:41 Lessons Learned in Restaurant Management
06:50 Founding Benchmark Sixty Restaurant Services
08:21 Benchmark Sixty’s Lane and Focus
10:33 Improving Productivity in Restaurants
12:36 Process of Working with Restaurants
16:26 Addressing Staff Turnover in the Restaurant Industry
21:39 Client Success Story
24:46 Dealing against the External Factors for the Restaurants
26:41 Facing the Challenge of P&L, Data, and Reporting
27:59 How To Reach Benchmark Sixty
29:31 How Benchmark Sixty Stayed on Top of Trends and Insights
30:24 Helping Restaurants with COGS
31:47 Future Plans for Benchmark Sixty
33:17 Advice for the Restaurant Industry