The Restaurant Report 190. Mod Pizza Heading to IPO and Velvet Taco Sale
Dec 3, 2021
20:26
Mod Pizza is set to go IPO soon and is one of the darlings of the Fast Casual Segment, founded in 2008. They have been on a tremendous growth plan. They have raised $160 million and set a goal to increase its store count to 1,000 locations by 2024. Check out our Brand Analysis on Mod Pizza on a recent podcast to talk about their unique culture, which sets them apart from any brand I know.
Will the Robots be able to earn the acceptance of consumers as we see mass adoption coming for restaurants in the next few years? According to the Bureau of Labor Statistics, August saw record amounts of workers quitting, with over 4.3 million Americans leaving their jobs. 867,000 of those were accommodation and food service workers.
73.8% of consumers are willing to interact with Robots
Biggest Concern - 87.4% Safety and Sanitation
Velvet Taco Sells Out! And while they are finding the new home with Leonard Green & Partners, Front Burner, the seller will maintain a minority stake. The issue is that I think they may have sold this too cheap - waiting for the information, but I speculate the valuation was under what this concept should be worth.
Also, listen in on our updated Self Service data from Foodable Labs!
78.4% of customers will engage self-service over waiting in a line
81% of consumers will switch brands when a SS operation is clunky
Best and Worst Self Service Brands
Tijuana Flats 43.3 Score
Chipotle - 85.6 Score
Will the Robots be able to earn the acceptance of consumers as we see mass adoption coming for restaurants in the next few years? According to the Bureau of Labor Statistics, August saw record amounts of workers quitting, with over 4.3 million Americans leaving their jobs. 867,000 of those were accommodation and food service workers.
73.8% of consumers are willing to interact with Robots
Biggest Concern - 87.4% Safety and Sanitation
Velvet Taco Sells Out! And while they are finding the new home with Leonard Green & Partners, Front Burner, the seller will maintain a minority stake. The issue is that I think they may have sold this too cheap - waiting for the information, but I speculate the valuation was under what this concept should be worth.
Also, listen in on our updated Self Service data from Foodable Labs!
78.4% of customers will engage self-service over waiting in a line
81% of consumers will switch brands when a SS operation is clunky
Best and Worst Self Service Brands
Tijuana Flats 43.3 Score
Chipotle - 85.6 Score