Deadly Velocity: Speed Leads to Tragic Outcomes
Super Saturday Greetings, pals!
Let's dive into today's buzz - Speed and the art of the speedy squeeze in the swanky world of hospitality and nosh!
This week, the theme that's been kicking around in my head is "Speed Kills," and boy, oh boy, does it ever when we're talking about the hospitality and foodservice biz! Sure, Speedy Gonzales may have been the fastest mouse in all of Mexico, but in this game, it's not always a winner! Fast is great and all, but it ain't everything!
Why you ask? Well, my dear reader, speed can sometimes lead to missing the mark, focusing on the wrong goal, or prioritizing the wrong things. You dig?
Remember when Ghost Kitchens and Ultra-Fast Grocery Delivery were all the rage? Too many tech whizzes and venture capitalists ranked speed above food quality, value, and consistency, forgetting that a ratty meal ain't gonna get them no repeat customers! Can I get a 'hear, hear' from all you restaurateurs out there?
Value, that's the golden ticket, my friends! Dialing up the quality of the food and service will win you the hearts and wallets of your customers every time. And let's not forget, visits to the can are common occurrences when the motor runs too fast and shortcuts are taken. Ugh, I shudder at the thought of a rapid-fire assembly line meal!
Does your guest forgive a restaurant taking a bit longer to serve up a delicious plate? You betcha! Will they stick around if the cuisine lacks kills you with disappointment? Nope, so don't rush the delicious magic!
Even leaders in the food delivery game are championing for the off-premise market. Mr. Nazarian from SBE has bought assets of a ghost kitchen startup, and Mr. Lore is building an Amazon of food delivery with Wonder, aiming for a whopping $30 billion valuation in just 5 years! The race is on, but let's not sacrifice quality for speed, eh?
Now, I wanna give a shout-out to two of our cool portfolio companies getting some fantastic wins this week: Copia and Ovation. Copia has partnered with Rite Aid to donate surplus food items, helping combat food waste, and boosting both the planet and the community's health. Ovation, meanwhile, has a celebrity client in Friendly's, who's embraced Ovation's real-time chat, surveys, and AI-powered recovery systems to connect with guests and create a memorable dining experience for all.
To wrap things up, speed is cool and all, but never at the expense of quality, consistency, and, of course, the overall guest experience. As they say in this wacky world known as the hospitality industry, it takes a village! So, let's work together to maintain an optimal balance, and the rewards will be sweet, my friends!
Jimmy F.Branded Hospitality [email protected] Park Ave South, 4th Fl | New York, NY 10003
Branded Hospitality Ventures, "Branded," is the nexus of food service, technology, innovation, and capital. As seasoned hospitality owners and operators, Branded delivers value to its portfolio companies through investment, wise counsel, and our deep industry know-how and connections.
Learn more about Branded here: Branded At-A-Glance
- In the swanky world of hospitality and foodservice, speed can sometimes lead to missed opportunities and prioritizing the wrong goals.
- Ghost Kitchens and Ultra-Fast Grocery Delivery illustrate the dangers of putting speed above food quality, value, and consistency.
- Value, which is the golden ticket, is achieved by focusing on food quality and guest experience.
- Even in the food delivery industry, leaders are promoting the importance of quality over speed.
- Two of Branded Hospitality Ventures' portfolio companies, Copia and Ovation, have made significant strides this week in combating food waste and enhancing guest experiences.
- Branded Hospitality Ventures, the nexus of food service, technology, innovation, and capital, invests in and supports portfolio companies to improve guest experiences.7.In the hospitality industry, maintaining an optimal balance between speed and quality is essential to creating memorable guest experiences and reaping rewards.
