Boss with an Iron Fist: Unyielding Decision-making at the Top

Boss with an Iron Fist: Unyielding Decision-making at the Top

Dear Readers,

Welcome to another edition of our newsletter dedicated to the vibrant world of hospitality. We hope you're enjoying the weekend and are ready for some insightful discussions.

This week, our focus pivoted somewhat unexpectedly upon coming across a LinkedIn post by a noteworthy figure in the industry, Mr. Wil Brawley, affectionately known as "Wil B" on LinkedIn. His post caught my attention with its honest assessment of the restaurant employee scheduling software space and its nuanced perspective resonated with me. While I usually plan my content ahead of time, Wil B.'s post sparked a new conversation we thought you'd find interesting.

Without further ado, let's delve into Wil B.'s post: Wil B.'s Friday 12-6 LinkedIn Post.

It's essential to clarify at this point that Branded is not an investor in Wil B.'s company, Schedulefly, we are not customers of his services, and, to the best of our knowledge, I have never met him in person. However, I admire his industry advocacy, positive energy, and commitment to the hospitality sector — particularly restaurants.

In his post, Wil B. elaborates on two categories of providers in the restaurant employee scheduling software market: those backed by venture capital or private equity, characterized by aggressive sales and marketing, elaborate tech packages, and showy trade show appearances; and the other, Schedulefly, known for its simple software, exceptional customer service, economical pricing, and solution-oriented approach.

Wil B. underscores that no single category is suitable for all restaurants, emphasizing the importance of finding the right fit for one's unique needs. His comments extend beyond the realm of employee scheduling software to the broader landscape of restaurant technology and the ongoing debate on the best-in-class vs best-in-suite strategies.

Allow me to draw a parallel between Wil B.'s post and Jon Bon Jovi's concert at Madison Square Garden. Much like Bon Jovi's love for performing and appreciation for a diverse range of artists, Wil B.'s post suggests a similar sentiment in the restaurant industry — that there's room for all players to thrive. After all, the restaurant industry, especially in America, is largely fragmented, with over 70% of restaurants being independents or smaller enterprises. Toast POS, a partner of Branded, supports over 100,000 restaurants, a mere 10% of the market. So, there's ample room for an array of value-added players.

As Wil B.'s post touches on a company that's pursuing Schedulefly's customers, let me make it clear that the company I refer to is an investment target we have not pursued, with whom we do not work, and with whom I have never had the pleasure of meeting. Nevertheless, this post served as a poignant reminder that the restaurant industry is not primarily a technology-driven business. At its core, it's about people, food, beverages, and experiences.

Our philosophy at Branded has long been operator-centric, as we strive to maintain a focus on the needs of operators rather than projecting the desires we assume them to have, often without understanding the realities of their workflow, challenges, and priorities. Technology, innovation, and data are crucial for the industry's success, but there will never be one-size-fits-all solutions. In other words, I challenge the notion that "never say never." While acknowledging that exceptions exist, I am confident that in the context of the restaurant industry, the fragmentation, diversity, and composition of the market will preserve the uniqueness of each business.

Quick mention for those who might question the origins of the phrase "never say never": while often attributed to Charles Dickens, the expression has a more ancient pedigree and is likely a product of common proverbial wisdom, rather than Dickens' coinage.

As we move into the busy and profitable holiday season for the restaurant industry, let's remember to acknowledge and appreciate the staff who work tirelessly to make this season enjoyable for all. The holidays are a perfect time to be generous, kind, and hospitable — qualities we aim to embody in our collective endeavors.

Before I conclude, I'd like to take a moment to recognize a couple of our partners: Handcraft Burgers & Brew, where we've partnered to create the Bing Bang Fried Rice Burger, with $1 from each sale going to Toys for Tots in NYC; and PourMyBeer & PourMyBev, our first investment, whose pioneering technology continues to impress.

Finally, I encourage everyone to check out our #1 hospitality podcast, "Hospitality Hangout," and this week's shoutouts for Handcraft Burgers & Brew, Mr Bing Foods, and our first investment, PourMyBeer & PourMyBev.

Thank you for joining me on this week's journey through the world of hospitality!

Warmly,

Jimmy FrischlingBranded Hospitality [email protected] Park Ave South, 4th Fl | New York, NY 10003

Branded Hospitality Ventures is an investment and solutions platform at the intersection of foodservice, technology, innovation, and capital. With our experienced hospitality ownership and operation, we bring value to our partners through investments, strategic counsel, and deep industry expertise and connections. Learn more about Branded here: Branded At-A-Glance.

1. Wil Brawley's post on LinkedIn, titled 'Wil B.'s Friday 12-6 LinkedIn Post', sheds light on the dichotomy in the restaurant employee scheduling software market, with ventures backed by private equity typically displaying aggressive sales and marketing strategies, versus Schedulefly, known for its simple software, exceptional customer service, economical pricing, and solution-oriented approach.
2. In his post, Wil Brawley emphasizes the importance of finding the right software fit for a restaurant's unique needs, extending the debate beyond employee scheduling software to the broader landscape of restaurant technology.
3. Jimmy Frischling, of Branded Hospitality Ventures, draws a parallel between Wil Brawley's post and Jon Bon Jovi's concert at Madison Square Garden, suggesting that there's room for all players to thrive in the restaurant industry, which is largely composed of independents and smaller enterprises.
4. Technology, innovation, and data are crucial for the industry's success, but Branded Hospitality Ventures maintains an operator-centric philosophy, focusing on the needs of operators, acknowledging that there will never be one-size-fits-all solutions in the restaurant industry.
5. Jimmy Frischling challenges the notion that "never say never," acknowledging that exceptions exist, but asserting that the fragmentation, diversity, and composition of the market will preserve the uniqueness of each restaurant business.
6. As the holiday season approaches, Branded Hospitality Ventures encourages readers to acknowledge and appreciate the hardworking staff in the food-and-drink industry, emphasizing the importance of hospitality, generosity, and kindness during this joyous time.

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