Mike Arenth
๐ค SpeakerAppearances Over Time
Podcast Appearances
Yeah, so we actually sell the products individually as best in breed, whether that's our labor or inventory or operations management, task management.
That can be anywhere from $100 to $150 per store per month.
The entire suite, that could be $300 to $400 per month.
The math adds up pretty quickly when you think about the locations that we have.
We have a good land and expand model.
We have some core assets that we can land into a location or a concept that's having a difficult time optimizing their labor.
We help them do that, and then they broaden their footprint with us with the other modules that we offer in the back of the house.
The biggest thing to understand in the restaurant space is the technology is really fragmented.
There's hundreds of companies that are providing just one little part of the solution.
We believe that you have to have actually a platform in place because restaurateurs are looking to sacrifice functionality for simplicity.
And in order to do that, you have to actually be able to meet their scalability requirements, but flexible enough to deal with the fragmentation that they're occurring every day.
So it's great.
So our gross retention is like 90% and our net dollar retention is 110%, which is pretty amazing when four to 5% of our churn is uninfluencible, right?
You just said it, they go out of business.
So you may sell, you may do a great job of helping them adopt the technology, but if they go out of the business, they stop paying you.
So to have 90% retention, right?
Even when you're dealing with that.
That's gross, right?
That's gross.
And then $110, right?