EMERGING Fund’s Explosive Growth
ResTech’s most disruptive period in history.
Insights for the food and entertainment industry
Acutely uses experience and data science to generate real-time, evidence-based observations that reduce risk and maximize revenues across the food, entertainment and retail industries. Our Data Scientists work as your in-house Business Intelligence Data Partner. We utilize big data and client specific POS-data to glean actionable insights to increase your revenue.
Customer Analysis
Who are your Customers and Why?
Before you open a new location or start a marketing campaign, you need to understand your current VIP and Core customers. This knowledge will help you mitigate downside risks and maximize your revenue potential.
• What makes your current location(s) successful?
• Who are your VIP, Core, and Infrequent customers?
• What are your VIP demographics? Where do they work, live, and spend? What are their dining frequency, transportation preferences, driving paths, and buying habits?
Schedule a Demo
Emerging Concepts
Real Estate Solutions for the industry’s top restaurant and entertainment concepts
Strategic Expansion
Helping clients to grow with confidence, brilliance, and the pursuit of a perfect deal.
Concept Strategy
The process of formulating a strategy with short and long term goals between investment, real estate, and operations.
Customer Intelligence
Capturing relevant data and information to develop market positioning and complete picture of customers.
Lease Negotiations
Utilizing experience of hundreds of letter of Intents negotiations to position the terms in the most favorable but fair manner.
Predictive Analytics
Analyzing the strengths and weaknesses of current sites to optimize site selection with data science.
56 BRKTHROUGH
BRKTHROUGH is over 20,000 square feet of pure social entertainment.
Beat the Bomb
Developing the world’s premier interactive locationbased video gaming brand
At Beat The Bomb pick from Mission or Game Bay. In Mission, teams don hazmat gear and advance through 5 hi-tech game rooms to disarm a bomb, avoiding paint or foam blasts. Or play in an immersive Game Bay with access to 15+ games. Enjoy drinks and eats at The Bomb Bar to complete the experience.
Don’t Get Left Behind Restaurants
Embracing Technology & Sustainability
By Marisa Upson
Today’s new world consists of digital menus, online ordering, contactless payment, chatbots, and restaurant management software. Restaurants are embracing artificial intelligence (AI) to reduce waste, saving money while creating
a greener establishment. According to Deliverect, 43% of diners are willing to pay more for restaurant takeout in brands prioritizing sustainability.
The bottom line: Restaurants embrace technology to remain competitive and develop brand recognition through
environmentally conscious efforts. Let’s explore this changing landscape.
Top Restaurant Technology Adaptations
Incorporating technological advancements enables restaurants to increase efficiency and provide guests with the experience they’re searching for. A survey by SpotOn found that while 56% of independent restaurants use some form of technology, over 80% still use legacy POS systems. OnePoll reports that 57% of restaurant owners believe technology has been
critical to their survival.
Advanced cloud-based restaurant POS systems integrate with the latest software that offers operational advancements, streamlining tasks and significantly reducing workloads. They’re essential in today’s fast-paced, ever-changing, and challenging hospitality sector. Top considerations include labor management and scheduling software, first-party and third-party online ordering, accounting platforms, employee scheduling software, and loyalty programs.
These systems also integrate with tabletop ordering or payment devices, inventory management, online reservations, catering management platforms, and customer relationship management. This level of integration offers a robust restaurant management system, providing detailed reports that drive beneficial insights.
Restaurants are also leaning toward automation in kitchen processes and using AI to optimize productivity and efficiency. Using data analytics software, operators can recognize trends, helping them with labor management and enabling them to offer guests customized items based on their preferences.
It’s a lot to consider. Fortunately, you can work with experts in the field to determine your strongest needs and what technology provides the best ROI.
Measures to Create a More Sustainable Restaurant
Today, restaurants are embracing
sustainability in countless ways. Some reduce their carbon footprint by adopting plant-based menus, while others use recyclable packaging or significantly reduce waste.
Promoting Plant-Based Food
Our planetary food system is one of the major contributors to greenhouse gas (GHG) emissions, the leading driver of climate change. According to the World Wildlife Fund, it accounts for about 27% of all emissions. EY Sweden noted an astounding fact: the GHG emissions produced by 100 grams of tofu are 4% of that emitted by 100 grams of beef. Offering more plant-based options also helps halt deforestation and the loss of biodiversity in spaces converted to animal production. To top it off, it’s trending.
While replicating animal products had its hay day, consumers’ changing interests lie in innovative plant-based dishes with authentic global flavors. VegNews reports that the number of restaurants in the U.S. offering plant-based options has increased by 62% over the last decade.
Reducing Food Waste
The National Restaurant Association reports that restaurants generate about 22 to 33 billion pounds of food waste every year. According to the Food and Agriculture Organization, food waste generates around 8% of GHGs, the same amount of emissions derived from the entire global transport sector.
Today, AI is helping restaurants create a more sustainable environment. Using
historical sales data and weather forecast data, it can optimize inventory management. Another technology advancement is smart meters. These use AI to track food waste and analyze the data to help restaurants change menu items or adjust portion sizes to reduce waste and increase profits.
Winnow, a global leader in AI commercial food waste solutions, reports that their analytics platform drives operational improvements that cut waste by 50%,
saving $42 million a year across 67 countries and preventing 61,000 metric tons of CO2e every year.
As you’ll notice, using technology to create a seamless experience doesn’t require robots in the kitchen. As with many things in life, simple implementations sometimes offer the most significant rewards. Consider working with people knee-deep in their prospective technical field, integrating the technology that would help your operations the most while enhancing the
customer experience. As Niels Bohr said, “An expert is a man who has made all the mistakes that can be made in a very narrow field.”
At EMERGING, our divisions include data science, supply chain, real estate solutions, revenue, finance, and hiring tech, designed to help our clients increase profits and deliver the ultimate guest experience. To learn more or schedule a complimentary consultation, contact EMERGING today.
Restaurant Technology Companies Receiving
Technology and the restaurant industry have become synonymous. From integrating AI to innovative solutions that enhance sustainability, it’s hard to find an industry resource without technology in its headlines.
By Marisa Upson
Some of the recent news includes restaurant technology companies raising up to $33 million and innovations designed to streamline operations. Let’s explore some of the latest ResTech companies making the front pages.
Owner.com
This comprehensive suite of digital tools helps independent restaurants create an online presence through enhanced online
ordering, digital marketing, customer relationship management, website building, and a mobile app generator. In 2024, they raised $33 million in a Series B funding round. The company will use this money to create more free instructional videos and enhance its team of engineers and designers.
As with most technology firms, they recently incorporated AI into the mix through their AI-powered email marketer. Thus far, Owner.com has raised $58.7 million. Over 2,000 restaurants currently use the technology, paying a flat monthly fee.
Bite
The kiosk ordering provider recently raised $9 million in a Series A funding round. Currently, the software is used in 1,100 restaurant locations. Bite takes customers’ orders, freeing up staff to perform more high-value tasks. Restaurants that have implemented Bite kiosks have seen an average check increase of around 15% to 20%.
The kiosk uses AI technology to suggest items based on what the customer orders and considers regional and seasonal trends. It enhances guest satisfaction by helping them purchase items that offer a better experience. Bite is using the funds to hire additional staff, satisfy demand, and develop new products.
Juicer
This dynamic pricing startup raised $5.3 million in a seed funding round in April
2024. Designed to optimize pricing, it uses historical sales data, machine learning, and AI to adjust real-time pricing. Their dynamic pricing tool can also change prices on third-party delivery apps based on the demand. It raises prices during peak periods and lowers them during slower times.
Dynamic pricing has entered the mainstream as more restaurants look to find the balance between protecting margins and affecting traffic. With the rise in online ordering and digital menus, this technology helps restaurants navigate the
fine line between customer price sensitivity and rising costs.
While there has been consumer pushback regarding dynamic pricing, this brand believes it’s giving consumers the option to reduce their costs by choosing off-peak times or paying a modest premium by arriving when they’re busy. Juicer said the flexible pricing strategy can increase samestore sales by 5% to 10%.
EnsembleIQ’s Top Women in Restaurant Technology 2024
At the latest MURTEC, EnsembleIQ’s Hospitality Technology announced the top women and rising stars in restaurant technology. To be considered a rising star, you must have worked in the restaurant technology sector for less than five years. The winners of the Rising Star in Restaurant Technology Awards were:
• KC Fox, GM of Digital Ordering at DoorDash
• Kira Hattenbach, GM of PixelPoint, PAR Technology
• Jen McQuown, Project Manager for Dine Brands Global, Inc.
ResTech Investments and the EMERGING Fund
At EMERGING, we’re excited to be a part of this continuing trend through the EMERGING Fund. Recently, we announced the addition of about 30 new investors and limited partners, bringing the total to 70 of the most prominent entrepreneurs in the field. In addition to offering capital investments, these investors serve as mentors, supporting startups in the restaurant technology sector as well as eatertainment and restaurant concepts. Some of the technology concepts in EMERGING Fund’s portfolio include:
1Huddle: This concept uses mobile games to train restaurant employees, enhancing employees’ skills and engagement.
Botrista: The Botrista drinkbot creates premium craft teas, energy drinks, lemonades, high-quality coffees, and more in under 20 seconds.
Overproof: This business intelligence company gives wine, beer, and spirit brands access to data, insights, and tools to help build their business and create winning strategies.
Tablz: The Tablz platform works with a restaurant’s reservation system, enabling guests to pick out their favorite table, increasing revenue while enhancing the guest experience.
To learn more about the Fund or to schedule a discovery call, contact Dave Bagley at the EMERGING Fund..
Flagship expands in their home city of Omaha to bring Memoir, a new American Grill concept, Ghost Donkey, and Châm Pang Lanes to the Brickline at the Mercantile area of downtown, as well as new Mediterranean concept, Clio, to the Old Market. Expansion into new markets for Blue Sushi Sake Grill, Palma, and Ghost Donkey are on the horizon as well.
EMERGING FUND
An Interview with Nick Hogan, the Co-Founder of the Inspired PYRO Restaurant
I recently had the pleasure of speaking with Nick Hogan, CEO and cofounder of Flagship Restaurant Group. Their extensive holdings include brands like Blue Sushi Sake Grill, Plank Seafood Provisions, and many more. To say he understands a bit about the restaurant industry would be a phenomenal understatement.
By Marisa Upson
Here, he introduced their newest concept, PYRO. Let’s explore what goes through the mind of a pro as he sets the Phoenix food scene on fire with yet another unique restaurant.
Marisa: Nick, thanks for taking the time to talk about PYRO, your latest concept, which looks like an incredible restaurant. Can you share a bit about your background and what led you to open PYRO?
Nick: We opened up PYRO the first week of November last year. I believe this is restaurant number 42 in our portfolio, a portfolio that we’ve been building for about 21 years. So, PYRO resulted from the evolution of business, exploring different concepts, and working with AvroKO, an incredible design team.
It started with the property, which became available about two miles from my house. I’m very familiar with the neighborhood, the trade area in general, the other restaurants, and the customer base. And I realized the site wasn’t right for any of the other concepts in our portfolio. We wanted something that wasn’t directly competitive but complemented the other offerings in the area.
Marisa: And how does PYRO compare to the other concepts in your portfolio?
at the more formal end of the spectrum compared to our other holdings. In this area of Phoenix, there are a lot of classic American steakhouses. I wanted to appeal to that audience but do something with a Japanese spin on it. We chose Japanese primarily because half of our portfolio is sushi bars that are much more casual and approachable. PYRO is more formal and sophisticated while leaning into the familiarity we have with the Japanese cuisine we all like.
We engaged AvroKO, an award-winning, very creative interior design firm, and our exceptional culinary team, and they went to work creating something new that differentiated us while having a Japanese feel to it. What came about is a mash-up between a more formal Japanese Izakaya and an American Bistro.
So, in essence, it’s a Japanese-inspired spin on an American Bistro steakhouse. Even the design is a throwback, inspired by Japanese casinos in the mid-1900s. It has a classic and timeless feel that’s elegant and dramatic and offers an elevated dining experience.
Marisa: Can you share a bit about the livefire cooking and the spirits you offer?
Nick: Our other concepts run the gamut, from casual to formal. PYRO is
Nick: Cooking over life fire aligns with the spirit of traditional Japanese Izakaya cooking. We built a custom hearth that’s the heartbeat of the restaurant. This kind of cooking infuses the essence of the wood, giving the food more dimension and enhancing the natural flavor.
The classic cocktail bar carries that forward with an eclectic beverage program that has a variety of specialty cocktails using various Japanese spirits, such as whiskeys and vodkas. One example is the Louis’ Martini with Haku vodka, Oka Japanese Bermutto, pomegranate, pineapple, and yuzu. We also carry a collection of global wines and sakes.
Marisa: I noticed you had a lot of accolades from publications. Forbes’ headlines read, “PYRO has set Phoenix dining scene on fire.” Haute Living said, “Meet PYRO: One of the ‘hottest’ new restaurants to add to your list in 2024.” And Robb Report called it one of the “27 most beautiful new restaurants in America in 2023.”
What do you think it is about PYRO that draws the media?
Nick: We have a wonderful design and culinary team that is very creative and a cut above. At the end of the day, I think it’s about creating something original and differentiated, so when people come into the space it doesn’t feel like somewhere else they’ve been. Instead, it feels like a first for that kind of experience.
I think they’ve captured that originality in the design and also on the menu and the service side. It’s hard to create something truly original, so the closer you get to it, the more interesting. I think that’s why more people are paying attention to it.
Marisa: Do you have any plans for other restaurants?
We’ve got more restaurants opening up this year. We’re also starting to scout out opportunities to duplicate PYRO in other markets, but we don’t have anything firm at this point.
A Taste of PYRO
If yellowtail sashimi with orange, serrano, pickled ginger shoots, white shoyu, olive oil, and cilantro sounds good, or perhaps Snake River Farms wagyu, there may be a trip to Phoenix in your future to experience this extraordinary restaurant.
Pyro
Immerse yourself in the finer things.
With each spark from our wood burning hearth, we ignite the energy that flows through the doors and into your senses. Our diverse menu walks a fine line between Japanese Izakaya and American Bistro, and our chefs prepare dishes using open flame, live-fire cooking that allows the enhanced natural flavors of the ingredients to shine through.
A refined yet inviting atmosphere is paralleled with a lush exterior patio, just as an elevated dining experience is matched with an intentionally energetic cocktail bar where the vibe flows through each pour and each beat of music. Flame-licked steaks and intoxicating energy will leave you yearning for a taste of more at Pyro.
Cold is the new hot.
Iced beverages now account for 75% of leading coffee providers sales.
Enter: Botrista
Everything you need. One platform.
Botrista is the solution-oriented, 360-degree beverage program that’s enabling restaurant owners to serve profitable, trending drinks.
In less than 5 square feet, and at the touch of a button, your consumers can be treated to over 2,000 craft drinks like boba, lemonades, blended frappes, smoothies and more. Serve popular drinks like dragonfruit berry lemonades, taro milk teas and Japanese cold brew.
With Botrista, your beverages become your in-house profitdriver, with restaurants earning $50,000+ of new revenue from partnering with Botrista (70%+ margins!).
Botrista’s menu is constantly evolving to meet consumer demands. By using proprietary data insights, we ensure your beverage menu stays on-trend all year long
Japanese Concept
Today, consumers preferences are changing daily
Keeping up with these trends is expensive and timeconsuming.
Botrista is solving these problems by crafting freshlyblended, crave-able beverages at the touch of a button.
Before Botrista
After Botrista
Botrista Drinks
Schedule a demo today!
The craft drink market is skyrocketing - led by Gen Z - who demand unique & memorable experiences when dining out.
With 64% of Gen Z seeking interesting, unique drink options when dining out - and with a huge percentage of their disposable income going towards dining, are you prepared to tackle the craft drink craze?
Book a call with Lucas!
Davio’s
Steve DiFillippo’s award-winning Davio’s is branded as a Northern Italian Steakhouse serving prime steak and handmade pasta while taking advantage of the freshest seafood New
Davio’s is an Iconic Boston based Fine Dining Restaurant brand, famous for exceptional hospitality as well as food & beverage. Davio’s sits at the unique intersection of elegance and approachability. It’s all about the guest.
BUYER’S EDGE PLATFORM Announces $425M Preferred Equity Investment
This announcement with Buyers Edge Platform of a $425M investment indicates the strength of the platform helping restaurant entrepreneurs reduce supply chain costs.
By EMERGING
Since the company’s founding in 1998, Buyers Edge is made up of more than a dozen brands that provide food service customers with data, technology, buying power, and expertise.
One of the early divisions of Buyers Edge is Consolidated Concepts.John Davie and Mathew Focht are co-founders
of Consolidated Concepts, the chain division for buyers edge platform founded in 2008. They recently launched the EMERGING Fund in 2023, investing in Restaurant Technology and early-stage concepts.
John and Mathew are focusing on helping entrepreneurs scale their companies as a growth equity Partner. The edge they provide is experience and relationships
that scale across the largest food & beverage network in the US. Both Davie and Focht have shown a keen interest in deeply merging technology and the restaurant industry. The EMERGING Fund has 70 investors mostly CEOs and Founders of some of the most successful companies in the food & beverage industry. They have made 10 investments to date.
Buyers Edge Platform Announces $425M Preferred Equity Investment Led by General Atlantic Credit’s Atlantic Park Fund, Alongside Blackstone Tactical Opportunities and Morgan Stanley Tactical Value
Waltham, MA and New York, NY –
April 8, 2024 – Buyers Edge Platform (the “Company”), a leader in digital procurement solutions for the foodservice industry, today announced a $425M preferred equity investment from a consortium led by General Atlantic Credit’s (“GA Credit”) Atlantic Park fund, alongside funds managed by Blackstone Tactical Opportunities (“Blackstone”) and investment funds managed by Morgan Stanley Tactical Value (“MS Tactical Value”). Buyers Edge Platform intends to leverage the new funds and partnership with GA Credit, Blackstone, and MS Tactical Value to support the execution of its continued growth initiatives, including platform innovation, strategic M&A, and European expansion. As part of the transaction, Bregal Sagemount, Buyers Edge Platform’s first institutional investor, will exit its minority stake in the business, and John Davie, Founder and CEO of Buyers Edge Platform, will increase his majority stake.
Interview with Mathew Focht on the EMERGING Fund
Anyone reading this is undoubtedly familiar with Mathew Focht, the CEO and founder EMERGING, co-founder of Consolidated Concepts, and founder of Emerging Concepts. At the core of these enterprises lies one commonality: a commitment to the restaurant and entertainment industries and a passion for supporting operators in achieving excellence on a national scale.
By Marisa Upson
Recently, I had the pleasure of speaking with Mathew about the EMERGING Fund, a modern fund that combines capital investments with mentorships and strategic growth resources. Here’s what he had to say about the road it’s taken since launching in 2023.
Marisa: So, let’s start from the beginning. What’s transpired with the EMERGING Fund since launching?
Mathew: We launched in March 2023 with our first investors and started the process of raising capital. Our focus was to find the top intellectuals who are the movers and shakers in the industry. So, we looked for leaders with proven track records and a conviction for growing technology or concepts. That was our first and foremost strategy—finding those leaders in the industry that we could build a fund with, and that could put us in a position to build other funds with this base of leaders who
are industry Titans.
I think that took a long time to do because we carefully curated this list of individuals. We currently have 70 LPs who are executives and industry experts in different areas, from concepts to technology and other service industryrelated venues. We made 10 investments in the last year with five of our concepts in tech, and I’m really proud of what we’ve been able to put together.
Right now, the headwinds in the fund environment are real, with a lot of funds out there experiencing challenges. But we’re a bit naive because we’re a firsttime fund and don’t know what it’s like to raise capital in tough times versus great times. The reception that we’ve experienced has been wonderful. I think we’ve been fortunate to have people giving us their vote of confidence because of our 70 LPs, who are industry experts in this environment. I think the toughest time to fundraise has proved to be a great transition for us.
We’ve actually done this over the years. We started Consolidated Concepts, our supply chain company, in 2008 amidst the market crisis. John Davie started Dining Alliance with his dad in 1999, and then we brought these two companies together under Buyer’s Edge Platform in 2018. We took a private equity investment that same year and have acquired over 40 companies under Buyer’s Edge Platform since then. The company saw some of the greatest growth rates when people were focused on COVID. We’ve particularly shined in those moments when the current climate is rough.
We also differentiate ourselves by investing in companies that are performing well and that we know we can help. Essentially, we’re blue-collar workers in the trenches with truly Midwest roots, working and building these companies with them.
Marisa: Can you discuss some brands the EMERGING Fund has invested in?
Mathew: We’ve made five tech and five concept investments thus far. One example is Puttshack, which has had tremendous growth as an experiential concept from the founders of TopGolf and Adam Breeden. We’ve seen them expand rapidly across the country, and we’ve been helping them build their core plan with our data science and real estate teams.
The first F1 Arcade in the U.S. opened in Boston, and another is headed for Washington, D.C., and Miami. They also have two venues in the U.K.—London and
Birmingham. So, we’re excited not only as investors but also to help them make real estate decisions.
Federales, an open-air taco and tequila concept with an energetic vibe, is opening a new unit in Nashville this year, which is also exciting.
Marisa: So, it sounds like you not only invest in these companies but support them with real estate decisions. Is that right?
Mathew: Yes, we support these companies with investments and growth strategies through our real estate and data science team.
It’s also been a really good year for some of our investments in tech. We invested in Botrista, which automates drinks for the
restaurant industry. It was built by a Tesla engineer who invested in a bubble tea company and witnessed the challenges restaurants face in labor. So, he built a machine with 93 patents that created craft beverages, from popular energy drinks to premium iced teas, high-quality coffees, and desserts. This machine is now coming to the market and has experienced exponential growth. Today, we’re working on $100 million contracts.
It’s attracted a lot of investment and is truly providing value, allowing QSRs and fine, fast restaurants to serve higher quality non-alcoholic beverages in 25 seconds or less when historically if it didn’t come out of a soda pop dispenser machine or fountain machine, it wasn’t being served or was with left up to the bartender in the evenings. This machine blends, shakes, and stirs and provides a
great variety of products.
Tablz has also had a good year figuring out its target market. This technology enables restaurants to monetize their real estate and charge for their premium seating, whether window views or favorite patio locations. For instance, restaurants currently charge the same price Monday through Saturday, even though the demand is quite different. This gives operators the chance to better manage these premium tables and help the 20-year-old hostess who continually gets pressured to give guests the best seating in the house. Now, restaurants get compensated for their premier seating, just like theaters and other venues.
1Huddle has had great growth as well. We invested last year and found that the market desperately needs to educate its workforce in a fun, gamified, and mobile way. It’s a strategy that enables staff to learn in an entertaining approach instead of a boring LMS way. Essentially, it’s education that doesn’t suck.
It also helps staff discover their passion, learning from a mobile phone on a platform that allows you to elevate your whole career through gamified learning. I’ll never forget the story Sam Caucci, the founder, shared about the Loews Hotel in Santa Monica. He was talking to one of the executives at the hotel, and they were telling him how they needed to find bartenders. Sam responded that he knew who their next best bartender was. Their response was, of course, how do you know? He was looking at their dashboard and could see their top scorer on their beer, wine, and spirits modules
and games. This woman, who was in housekeeping, is now one of the best bartenders at Loews.
So, we’ve had a really good year of investing in tech and concepts, and we’re extremely well-positioned to continue growing these companies. Our differentiator is our operating companies; that’s where our edge comes from. There are a lot of good venture capital firms and private equity firms out there, but they don’t have the operational expertise or work with 250,000 restaurants that they write checks to every quarter.
So, we have the ability to leverage our relationships, which can help these technology companies and restaurant and entertainment concepts go to market with much less risk and faster. All these companies are in the growth stage. I can say we’re not venture capital. We want zero zeros. Because we have operating companies, we don’t need to have zero returns.
We’re not taking that much risk because we’re investing in companies that have proven customers and a proven market. They are early in their growth cycle, but they’re delivering value today to the market. We can back those companies using our relationships and scale them with a lower cost of customer acquisition than they traditionally have. So that’s the key to scalability for all these companies.
It’s not just about how much money it costs to get to the market but also whether they are doing it intentionally in the right way. Our strength is to go to
market with the right influencers, the early adopters, and the innovators in a space. That’s the magic. Almost everyone in the industry recognizes those leaders, and if we can match the technology with those leaders and create value, the market takes a hold and responds, and that’s how we achieve growth.
Marisa: So, what do you see transpiring for the remainder of 2024?
Mathew: In 2024, we are looking to solidify our fund with partners that have a long-term interest in our early investments. And what I mean by that is we adopt companies in their early growth
stages. These companies will need capital in later rounds, and we want to position these investments to have partners that can take them all the way up to the later rounds, potentially going public or being sold for over a billion-dollar evaluations.
So, we are focusing on identifying partners that can come to the fund that have the interest and affinity for the food and beverage space. We’re looking for groups that have a capital interest and want to hold these positions with these companies into their later rounds. It will produce nice returns for the investor because it won’t necessarily go to the highest bidder. They benefit from the
strategic relationship of our fund as well as their relationship with the investor from the early rounds.
So, this enables the companies we invest in to build a relationship throughout their entire growth cycle without having to be introduced to a whole new LP base later in the cycle. I think our fund is going to be one of the top performers. It’s all about expanding and leveraging our sales and growth capability. Essentially, we’re looking to close out the fund with the best LP base that you can hope for in hospitality.
Trending Summer Cocktails: Is Your Restaurant Beverage Program Ready
for
the Summer Rush?
Do you remember when summer seemed like a lifetime away? Now, we’re bringing in the planters and sprucing up our outdoor patios. As the weather warms, guests will be looking forward to lighter fare and a refreshing drink.
By Marisa Upson
So, what is everyone drinking this summer? Is Negroni still the “in drink,” and does it have a unique twist? Has it been replaced with something a little lighter, fruitier, or slushier? Here, we’ll explore some of the top contenders and share some recipes to get you started thinking about the incredible season that lies just around the corner and how to make it memorable for your customers.
The Minimalist
From our homes to our home theaters, minimalism is all the rage. It’s about doing more with less and appreciating experiences over possessions. When applied to a summer beverage program, you’ll find the drinks, once topped with fruits and vegetables on a skewer, have given way to simplified elegance.
In their place are high-quality, threeingredient cocktails. Negroni is one of those three-ingredient favorites that lends itself to riffs and nearly limitless variations. Here’s one for your mezcal fans.
Mezcal Negroni
1 oz. Mezcal
1 oz. Campari
1 oz. Sweet Vermouth
Mix in ice until well-chilled and then
strain into a glass with one large ice cube and garnish with a half-wheel orange. Some recommended mezcals include Marca Negra Espadin and Rey Compero Tepextate.
Savory & Spicy
The savory cocktail is in, and the fruity cocktail is out. That’s an overstatement. Every summer beverage program needs a drink where fresh fruit is the star. But this summer, you’ll also need some savory beverages with a little kick.
According to Diageo Bar Academy, umami is where it’s at when creating a savory cocktail. Some popular ingredients in this category include mushrooms, miso, tahini, and seaweed. Kaitlyn Stewart, a global bartending champion and world-class judge, inspired the following recipe. Recipe: Peruvian Pepper Tequila Tini
Place the following ingredients into a shaker with some ice. Strain and fill a chilled martini glass.
2 oz. Don Julio Blanco—a tequila with hints of white pepper, citrus, tropical fruits, and green apple.
1 oz. Fino Sherry—a dry white wine from southern Spain.
1 tsp. Peruvian pickled pepper juice and 3 Peruvian pickled peppers. (Get your guests to say that three times fast).
The Heart of the Agave
Agave spirits are continuing to trend, with summer drinks incorporating tequila and mezcal. Tequila is made from the heart of the blue agave, while mezcal comes from numerous varieties of the agave plant. Mezcal offers a smokier flavor due to the cooking method of roasting the pinas, or hearts, in pits in the ground.
Small-batch artisanal brands are continuing to garner their share of the
in small batches from blue agave handharvested in the highlands of Jalisco. Then, it’s infused for 45 days with Mexican-grown ruby red grapefruit. While it needs nothing more than crushed ice and a dash of sparkling soda, you can also make it a part of a Paloma, Grapefruit Tequila Sour, or Grapefruit-Chipotle Margarita.
Grapefruit-Chipotle Margarita
2 oz. Tequila—Reposados are another good tequila option for margaritas. Smooth with hints of honey, oak, and sometimes jalapeno, it’s aged in oak barrels for two months to one
½ oz. Agave Nectar ½ oz. Combier or Cointreau
1 oz. Fresh Grapefruit Juice Dash of Chipotle Chile Powder
Mix in a shaker with ice and pour into a salt-rimmed glass filled with
Citrus and mint are two great flavors that go together when looking for a refreshing drink in the heat of summer. Berries and mint are another popular duo. Add some vodka and simple syrup, and you’re on the way to an uplifting drink that provides life-affirming antioxidants.
Blueberry Vodka Smash
8 Mint Leaves
¼ Cup Blueberries
2 oz. Vodka
¾ oz. Simple Syrup
¾ oz. Fresh Lime Juice and Lime Wedges
First, muddle the berries and mint to release the oils. Place the mint leaves, berries, and lime wedges in a cocktail shaker or bowl, and use a wooden cocktail muddler or a wooden spoon to mash gently. Your intentions are to release the oils and add flavors. Add ingredients, ice, and shake until cold. Garnish with blueberries and mint leaves.
Remember that the health-conscious younger generations are looking for opportunities to enjoy beverages and food that offer healthy alternatives. An alternative to simple syrup is 100% maple syrup.
Gin Basil Smash
4 oz. Gin
2 oz. Fresh Lemon Juice
2 oz. Simply Syrup
10 Basil Leaves
Muddle basil leaves, lemon juice, and simple syrup before adding gin. Basil is an herb that’s been shown to reduce inflammation, fight infections, and relieve stress. Garnish with basil and a lemon twist.
Drinks for the Mocktail Crowd
I have a friend who’s never imbibed in an alcoholic beverage. However, she gets extremely excited when she sees mocktail items on the menu. Consider the following to spruce up your non-alcoholic beverage offerings.
A refreshing summer option is popular in Slovenia, where elderflowers grow abundantly.
Recipe: Blueberry Lime Elderflower Mocktail
2 tbs. Elderflower Syrup
2 tbs. Fresh Lime Juice
Handful of Blueberries
1 cup Sparkling Mineral Water
Mint Leaves
Lightly muddle blueberries, lime juice, and elderflower syrup before adding mineral water and ice. Garnish with mint leaves and blueberries.
The Stories Behind Your Restaurant Beverage Program: The History of Agave
I recently moved to the highest town in Texas, a small unincorporated community where plant and animal life far exceed humans. One of the plants that thrive in this area is the agave, which got me thinking: If I dig up the piña or heart, can I make tequila?
By Marisa Upson
The answer to that odd question is a resounding no unless it’s a blue agave. However, any agave would do if I was in the mood for mezcal. It only requires the piña, which can weigh up to several hundred pounds, and an earthen pit for cooking. This is the main differentiating factor between mezcal and tequila. Mezcal possesses a distinct smoky flavor because the hearts are roasted in underground pits before being distilled.
So, I need the piña and a pit to roast it in for several days. Then, I mill it to extract the juices or, as an artisanal producer, macerate them by hand. The fibers and juices are placed in a stone, trunk, wood, masonry, clay, or animal skin container where the fermentation process takes place, lasting from just a few days to a few weeks.
Then, the distillation process occurs when wood or clay stills are heated by live fire. Lastly, the mezcal rests in oak barrels for a few months to several years. The longer, the more complex the flavor.
That’s quite a process. Do you ever wonder how it all began? Was a conquistador wandering through the desert and stumbled upon a Mayan digging up a piña to make pulque, an ancient alcoholic beverage? And did he think, “That’s the answer to our dwindling brandy supply— fermented blue agave!”
While we may never know what exactly transpired, we can investigate the history books and glimpse the beginning— the moment the beautiful agave plant transformed into some of the most popular alcoholic beverages on our planet.
Giving Thanks to Agave
Long before the conquistadors landed in present-day Mexico in 1519, the indigenous people had celebrated the plant, whose name means “illustrious” in Greek. Agave has been used for at least 10,000 years for fiber and food. It was sacred to many of West Mexico’s inhabitants as it represented Mayaheul, the Aztec goddess of nourishment and fertility.
Pulque was the first alcoholic beverage to be produced from the agave. Since about
1,000 B.C., the Olmecs and then the Aztecs created this fermented beverage used in religious rituals. The agave plant, however, did more than intoxicate. Its fibers were used to produce footwear, clothing, paper, and building materials.
The 1500s began the distillation process and the creation of mezcal, an act primarily accredited to the conquistadors. In 1531, some of the first documented mezcal was produced. By 1600, Don Pedro Sanches de Tagle established the first tequila distillery. Then, in 1795, José Cuervo arrived on the scene, and the rest is history. In the 2000’s, agave farming is the predominant agriculture in Jalisco. Today, it represents about 50% of their agricultural economy.
The Success of Tequila
Tequila was introduced to America in 1893 at the Chicago World’s Fair and today outpaces all other distilled liquors in popularity. It’s estimated that the global tequila market will reach $6.36 billion by the end of 2025.
Unfortunately, the growing demand resulted in some unsustainable farming methods. Tequila is a spirit distilled from the blue agave, a plant that grows predominantly in Jalisco, Mexico. These plants take approximately eight years to mature and die when harvested. As the demand for the beverage grew, producers began harvesting the plants early, before they could flower and seed.
The bat counted on the flowers and seeds as a major food source while scattering the seeds and pollen, allowing for natural propagation. In essence, you cannot have tequila without bats.
Fortunately, this realization has led to more sustainable farming practices, including regenerative farming. It’s a reminder of the interdependency of plants, animals, and humans and how we count on each other for sustainable growth.
Three Types of Tequila and Mezcal
• Silver or Blanco spirits are clear and typically unaged. Sometimes, it may rest in stainless steel for up to two months.
• Reposado, which means rested, is aged for two months to one year in an oak barrel.
• Añejo tequilas and mezcals are aged in oak barrels for at least one year. Some extra añejo tequilas are aged for up to three years.
At F&B Insights, we work with suppliers, bars, and restaurants, enabling suppliers to map brand performance and understand customer behavior while offering additional revenue to the venues they supply. Direct integration comes from the POS system, providing cocktail and consumer analytics. Suppliers gain a monthly report with incredible insights, and the establishment receives a monthly payment.
Before this time and for thousands of years, the blue agave and the lesser-nosed bat led mutually beneficial existences.
Are you ready to learn more about the in-demand spirits and how your sales and performance align? To learn more about F&B Insights or to schedule a consultation, contact F&B Insights today.
Your point of sale system is already collecting valuable data. F&B Insights is the only platform that helps you monetize it by creating sales performance reports for suppliers. Get a Demo
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How Tech Might Transform Restaurant Delivery
As a restauranteur, you’ve likely seen the headlines: drone delivery partnerships and underground tunnel networks promising to revolutionize takeout and delivery. But are these just passing trends, or should you be taking a closer look?
By Haywood Wright
Traditional delivery can be a pain point. Delivery fees are eating into your profits; unpredictable wait times can frustrate your customers, and let’s face it, most delivered food is not as good. New delivery technologies offer the potential to address some of these concerns.
Restaurant delivery tech:
• Robots: Remember those quirky delivery droids on college campuses? They’re graduating to the real world, offering efficient and cost-effective solutions, especially for short-distance deliveries. Uber Eats has already seen a 30% month-over-month growth in robot deliveries.
• Drones: Imagine piping hot pizzas delivered straight from your kitchen by drone. Panera Bread’s partnership with Zipline is a glimpse into this aerial future. Drones could significantly reduce delivery times while regulations are still being ironed out.
• Underground Tunnels: This might sound like science fiction, but Pipedream recently raised millions to develop underground delivery networks. Say goodbye to traffic jams –your food could zoom through a tunnel directly to your customer’s doorstep.
Challenges to consider:
• Technology is still evolving: These solutions are new, and there will be bumps along the way. Safety, security, and ensuring food arrives at the optimal temperature are all areas that need refinement.
• Consumer acceptance: Will your customers embrace robot servers or be wary of a flying pizza? Understanding their comfort level will be crucial.
• Cost of Implementation: How some of this technology will be paid for is unclear. How is that investment paid for if you want your restaurant tied into an underground network?
• Impact on the workforce: Automation could lead to job displacement for traditional delivery drivers. As a responsible business owner, you’ll need to consider this factor.
Restaurant delivery tech is at an inflection point, primarily if you are located in a major metropolitan area. While there are uncertainties, the potential benefits are undeniable – reduced costs, faster deliveries, and happier customers. Staying informed about these advancements and considering pilot programs with reliable providers can position your restaurant at the forefront of these developments.
Leading the Way: How Strategic Investment in
Frontline Managers Enhances Frontline Performance
High-performing brands continue to have to make significant shifts in how they invest in and develop their workers. And, all roads continue to point to investing in frontline manager capability as the fastest way to impact performance.
According to a recent Gallup study, it was found that less than 1 in 5 workers feel that they have a manager who cares about them. This insight coupled with a talent engagement crisis that reveals only 15% of global workers feel engaged at work should be a call to action for hospitality brands that want to create a capable, connected, and caring workforce.
Authentic engagement and relationships between frontline managers and employees reduce burnout, increase sales performance, enhance guest experience, and ultimately make a workplace more of a place you “want” to go to than “have” to go to.
Boosting employee productivity and execution is a challenge today because frontline managers are stuck with inadequate and outdated systems in two areas:
First is technology. Managers spend countless hours supervising, training, and ensuring the quality of work. This approach is not just ineffective, it’s outdated and tiresome for everyone involved. Using technology to accelerate learning and rapidly close knowledge gaps before they turn into revenue gaps is an opportunity often missed by brands afraid to invest in technology as an infrastructure for development.
The second is talent insights. Hospitality brands spend significant time evaluating critical business metrics around food costs, labor costs, and customer service scores. But these metrics do not cover
critical talent insights that could uncover disengaged workers, knowledge gaps, and career pathway velocity.
So, where do we go from here? Well, it starts with people, and more specifically it starts with your leaders at the local level. Frontline managers need a blueprint to assist in their efforts to build a talent development program where every worker is connected, capable, and contributing.
3 Keys to Building a Talent Development Program
Here are five must-haves for your talent strategy if you want to create a workforce where everyone is firing on all cylinders.
1. Every Worker
Learning opportunities shouldn’t just be for new hires but for every worker. Before investing in a tool or technology it is critical to ensure that every aspect of your training and development is open for every worker regardless of role or function.
2. Every Manager
Learning opportunities shouldn’t just be for frontline team members, but for management and leadership teams as well. If you don’t think your leaders need constant training and development, you’re playing a dangerous game with your company culture - especially given the speed at which the workforce is changing. If employees are expected to continue adding to their skills, the leadership team should set the example.
3. Every Day
Stop blocking out days for long seminars
and “death by PowerPoint” sessions. Training and development initiatives should not be disruptive but fit into your employee’s daily routine. Engage mobile tools and AI-enabled authoring to ensure it is scalable, repeatable, and fits into the flow of work. The easier it is for employees, the more often they will engage.
And, one final point to consider. The latest research on the science of learning supports that most employee learning and development methods fail – recent data found employees forget 70% of what they learn within just 3 days after video-based training. Making it all the more critical to ensure your learning strategies are rooted in learning science while also making it
accessible to every worker, every manager, and every day.
If you want your team to perform at the level you expect then it starts with ensuring your frontline managers have the systems in place to accelerate growth and maximize engagement.
1Huddle is currently helping thousands of businesses in industries such as restaurants, retail, finance, hospitality, government, non-profits, healthcare, franchising, and more. No matter what you do, we are here to offer continuous learning opportunities for you! Ready to get started? Request a demo, and let’s level up your training and development ASAP.
BRKTHROUGH
BRKTHROUGH is over 20,000 square feet of pure social entertainment.
Featuring 40 unique and immersive high-technology challenge rooms that are a combination of physical, mental, and skill-based challenges, they are designed so that you and your team have maximum fun. All paired with an in-house restaurant serving a shareable and delicious menu, plus a curated selection of self-serve craft beers and wine at our self-pour tap wall.
Top 10 Must-Visit Dining Tables in Chicago for Summer 2024
As summer beckons, Chicago’s culinary scene is ablaze with excitement and anticipation. Join us as we embark on a journey to uncover the top 10 tables in Chicago, each offering its unique blend of ambiance, location, and personalized hospitality.
By Kristina Vukoje
Whether you’re seeking al fresco dining with a view or an intimate gathering with friends, these tables will leave you craving more of Chicago’s culinary delights.
1. RPM Seafood | Table 123 | Seats 3 to 4
Table Description: Indulge in the finest seafood Chicago has to offer with RPM Seafood’s balcony table experience. This coveted spot offers incredible views of the skyline, creating a romantic, lively and unforgettable ambiance for your meal. Enjoy fresh-air dining, personalized service, and the best seafood fare in town.
2. Gino & Marty’s | Nonna’s Table | Seats 2 to 8
Table Description: Nonna’s table at Gino & Martys is more than just a place to eat; it’s a sanctuary where guests are transported to the cozy embrace of a beloved Italian grandmother’s home. From the rustic wooden tables to the flickering candlelight, every detail is carefully curated to evoke a sense of warmth and familiarity, inviting guests to linger and savor each moment.
3. La Serre | Table 81 | Seats 4 to 5
Description: In a city renowned for its
culinary prowess, La Serre stands out as a true gem, and Table 81 is its crowning jewel. From its stunning window view, and spacious booth seating, to its impeccable service and sumptuous cuisine, Table 81 offers a dining experience that is unparalleled in every way.
4. Gibson’s Italia | 3rd Floor Balcony Tables | Seats 3 to 4
Table Description: Perched high above the bustling streets of Chicago, Gibson’s Italia offers a dining experience unlike any other. From the vantage point of the 3rdfloor balcony seating, guests are treated to panoramic vistas of Chicago’s iconic skyline. Whether it’s the glittering lights of downtown or the serene waters of the Chicago River, each table offers a front-row seat to the city’s breathtaking beauty.
5. Bar Mar | Table 300 | Seats 6 to 8
Table Description: Bar Mar is a true celebration of the bounty of the sea, with modern takes on classics you know and love, festive cocktails, and a bright,
beautiful space that interweaves the nautical with the elegant. Amidst the culinary delights, Table 300 emerges as the ultimate destination, tucked in a corner with scenic river views and an elegant chandelier above. Perfect for large groups and parties, this table offers an intimate yet inviting ambiance, alluring guests to savor the finest cuisine while soaking in the beauty of Chicago’s iconic waterways.
6. Utopian Tailgate | The Ditka Lounge | Seats 6 to 8
Table Description: Summertime in Chicago is synonymous with socializing and outdoor gatherings- and the Ditka Lounge Section at Utopian Talligate offers a vibrant and immersive experience filled with interactive games, decor, and even disco dance parties. Whether you’re indulging in elevated eats or sipping on craft cocktails, Utopian Tailgate guarantees an unforgettable adventure year-round.
7. Le Colonial | Table 103 | Seats 3 to 4
Table Description: Step into a world of
refined elegance and culinary excellence at Le Colonial. Amidst the enchanting ambiance of this iconic restaurant, Table 103 emerges as the epitome of charm.
Situated by the window, Table 103 offers a picturesque setting for a memorable meal. As natural light floods the table, creating a soft and flattering ambiance, diners are invited to indulge in Le Colonial’s exquisite cuisine while capturing every moment in style.
Whether you’re savoring the delicate flavors of the menu or simply basking in the warm glow of the sun, Table 103 promises an unforgettable dining experience that’s as visually stunning as it is delicious.
8. Gene and Georgetti | Frank Sinatra Booth | Seats 2 to 5
Table Description: The Frank Sinatra Booth is a testament to timeless elegance and storied history. This iconic booth not only bears the name of the legendary crooner but also holds the distinction of being the very spot where Frank Sinatra himself dined, leaving an indelible mark on the restaurant’s legacy.
9. Ciccio Mio | Table 300 | Seats 5 to 6
Table Description: Amidst the array of tables that adorn Ciccio Mio, one stands out - Table 300. This table exudes an aura
of exclusivity and charm. What sets Table 300 apart is not only its prime location but also its capacity to accommodate larger parties, seating 5 to 6 guests comfortably. It’s the perfect setting for gatherings, celebrations, or simply indulging in the company of loved ones.
10. Alla Vita | Table 33 | Seats 6 to 8
Table Description: Enter a realm of culinary excellence and warm hospitality at Alla Vita by Boka Group, where Table 33 beckons as the epitome of elevated dining. This table caters to individuals who relish the opportunity to gather with a group of friends or family, seeking a vibrant and convivial atmosphere to enjoy a memorable meal together. Whether it’s a lively celebration, a gathering of food enthusiasts, or simply a desire to share great conversation over delectable cuisine, Table 33 offers the perfect space for fostering connections and creating memories.
Conclusion: As we conclude our journey through Chicago’s top 10 tables, one thing becomes abundantly clear: the dining scene is as vibrant and diverse as ever - and so are its tables! Whether you’re seeking a romantic dinner for two, a lively gathering with friends, or impeccable views of the city, there’s a perfect table waiting.
EMERGING Fund
Technology disrupting operations and accelerating concept innovation.
