Mike Arendt, CEO of HotSchedules, explains why frontline restaurant employees embrace their software unlike typical top-down enterprise software.
0:00 / 0:16exact quote · 16.6s
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“When you talk to a team member, someone that works in the restaurant, they'll tell you they love it. They love it because they don't look at it as I'm optimizing the business process for the manager operator. It's my method of engagement with the restaurant. It keeps me connected. It allows me to know when I'm going to work. It helps me make money by picking up more shifts.”
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More from Mike Arendt
Insight
Arendt: Restaurateurs prefer simplicity over functionality in software platforms
“We believe that you have to have actually a platform in place because restaurateurs are looking to sacrifice functionality for simplicity.”
Mike ArendtJan 10, 2019▶ 4:551265 How $100m ARR HotSchedules Passed 160,000 Restaruant Customers, 110% Net Annual Dollar Retention
AssertionNot checkable as stated
Mike Arendt: HotSchedules hits 110 percent net retention despite restaurant closures
“Our gross retention is like 90% and our net dollar retention is a 110%, which is pretty amazing when four to five percent of our churn is uninfluenciable, right?”
Mike ArendtJan 10, 2019▶ 5:521265 How $100m ARR HotSchedules Passed 160,000 Restaruant Customers, 110% Net Annual Dollar Retention
AssertionNot checkable as stated
Mike Arendt: HotSchedules has reached a $100 million revenue run rate
“We're on a hundred million dollar run rate.”
Mike ArendtJan 10, 2019▶ 7:281265 How $100m ARR HotSchedules Passed 160,000 Restaruant Customers, 110% Net Annual Dollar Retention
PredictionNot checkable as stated
Arendt: Restaurant technology market fragmentation will drive an industry roll-up
“Given the fragmentation, there's a roll up strategy to happen, whether we're the ones driving it or someone else.”
Mike ArendtJan 10, 2019▶ 14:431265 How $100m ARR HotSchedules Passed 160,000 Restaruant Customers, 110% Net Annual Dollar Retention
AssertionNot checkable as stated
Arendt: HotSchedules reaches 160,000 locations across 60 countries
“We're in a 160,000 locations. 60 countries, 35,000 different concepts, and we have three million team members that are connected to our network.”
Mike ArendtJan 10, 2019▶ 2:341265 How $100m ARR HotSchedules Passed 160,000 Restaruant Customers, 110% Net Annual Dollar Retention
Disclosure
Mike Arendt: HotSchedules charges restaurants up to $400 monthly per store
“We actually sell the products individually as best in breed, whether that's our labor, inventory, or operations management, task management, right? That can be anywhere from a hundred to 150 dollars, right, per store per month. The entire suite, that could be …”
Mike ArendtJan 10, 2019▶ 4:091265 How $100m ARR HotSchedules Passed 160,000 Restaruant Customers, 110% Net Annual Dollar Retention
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