In a world where everyone shared identical features, the unique diversity that sets us apart would vanish.
Phoenix, AZ - Team Branded attended the Restaurant Leadership Conference (RLC) this week, marking yet another industry event on their calendar. As enduring advocates of in-person interactions, Branded continues to recognize the unique value that these events bring to their company.
In the post-COVID era, remote work has become increasingly popular, but Branded's founder expresses an ongoing preference for in-person meetings and work. He looks forward to assessing the long-term impacts of this shift on new talent entering the workforce, particularly with regards to the role of unscripted, serendipitous encounters in career development.
As the focus on flexibility in work arrangements grows, the significance of events like RLC becomes even more pronounced. Networking and face-to-face interactions are now more concentrated in these conferences, fostering a deeper sense of connection within the industry.
Numerous themes emerged from RLC 2024, including:
- On-site restaurant visits remain disappointingly low and are expected to stay that way.
- Labor challenges persist, including difficulty at sourcing and retaining talent, and the increasing likelihood that California's $20 minimum wage will become nationwide.
- The M&A market for both restaurant brands and technology is expected to see continued growth.
- Talk of catering was prevalent at this year's conference.
- Personalization is gaining traction in discussions around loyalty, direct and targeted marketing, and actionable guest feedback.
- Despite the growing buzz surrounding technology and innovation in the restaurant sector, many discussions revolved around the need for a rethink or reset when it comes to tech stacks.
Looking ahead, Branded aims to address several questions raised during the conference, particularly regarding the meaning of their platform's "operator-centric" ethos and the conviction that "best-in-suite" will ultimately triumph over "best-in-class."
Branded's mission is to support restaurant operators by understanding the various aspects of the restaurant business, its operations, and workflow, especially where technology can provide value. By focusing on the people within the hospitality industry, technology can help, enable, or create leverage for these essential workers.
Furthermore, Branded believes that the winning technology platforms will provide a larger suite of services to their hospitality customers. These platforms might acquire point solutions, build additional functionality, or integrate with other service providers to expand their offerings and enhance the value they provide to operators.
This week, Branded celebrated the success of another portfolio company, Ecotrak. The company raised $30 million in funding, led by Respida Capital, with participation from Carver Road Capital and existing investor Gala Capital Partners. The funding will accelerate Ecotrak's product development and go-to-market efforts, following a record-breaking year for the company. The Ecotrak platform simplifies facilities management through modern web and mobile applications, helping multi-site owners and operators of various businesses achieve operational scale and ROI.
Lastly, Chowly, another Branded portfolio company, provided a list of recommendations for SMB owners attending conferences. By researching delegates, planning schedules, dressing comfortably, bringing business cards, engaging actively, following up, and sharing insights, SMB owners can maximize their opportunities to network, gain industry insights, and discover innovative solutions.
- At the Restaurant Leadership Conference (RLC), Branded discusses the importance of in-person interactions for their leadership, considering the long-term impacts on new talent and career development.
- The conference emphasizes the growth of flexibility in work arrangements, with events like RLC becoming more significant for networking and face-to-face interactions.
- On-site restaurant visits remain low, labor challenges persist, and the M&A market for restaurant brands and technology is expected to see continued growth, as discussed at RLC 2024.
- Personalization, catering, and rethinking tech stacks are gaining traction in discussions around loyalty, direct marketing, and guest feedback in the food service industry.
- Looking forward, Branded aims to address questions about their platform's "operator-centric" ethos and the need for a broader spectrum of services in the hospitality industry, including point of sale and education-and-self-development solutions.
- Branded portfolio company, Ecotrak, raised $30 million in funding, aiming to simplify facilities management for multi-site businesses and achieve operational scale and ROI.
- Chowly, another Branded portfolio company, offers recommendations for SMB owners attending conferences, including researching delegates, planning schedules, and actively engaging for optimal networking, industry insight, and solution discovery.
