Pandemic Opportunities: Part Two
Last week we explored how Off Day Trainer made a minor pivot to take maximum advantage of their training platform in a way that is producing results now – but more importantly – is perfectly aligned with the post – pandemic macro trend of more flexible, remote work. See that post here.
This week, we want to take a closer look at another Relentless Management Group portfolio company: CheddrSuite.
CheddrSuite is a restaurant management software provider. It ties together all the disparate restaurant systems into one seamless, accessible interface. It is hosted, fully integrated and priced to be affordable for anyone from a single mom and pop location to larger chains.
CheddrSuite faces a different challenge in the pandemic. Many restaurants are being forced to close, or operate at reduced capacity, throughout the country. Restaurants often already operated on thin margins, so the failure rate is high. But – their sole product is restaurant management software – they cannot pivot to another niche.
How is CheddrSuite weathering this storm?
We talked with founder Javier Cadena to find out what adjustments they have had to make to survive – and come out of this pandemic even stronger.
One key to understanding their approach: a fundamental belief that, while many restaurants will fail in the near term (particularly those already struggling), dining out will fully bounce back post pandemic and many new restaurants will appear to meet demand. Thus, CheddrSuite is doubling down on their current strategy – and through a partnership with major food distributor Sysco – growing rapidly.
As CEO Javier Cadena says,
“The pandemic has accelerated our growth rate for a number of reasons. First, with the pause in operations, this time period is being used by the stronger restaurants to retool – doing remodels, upgrading back end systems, etc. Secondly, it is increasingly clear to our clients that now – and in the future - they need to be more efficient, and to be able to manage schedules and related items seamlessly and remotely – which is exactly what our product supports. And finally, and probably most importantly, through our strong partnership with Sysco we are now able to engage directly with prospects that know they have a problem and are looking for a trusted solution. Together, Sysco and CheddrSuite offer a powerful solution from folks that intimately understand the business.”
In sum, CheddrSuite is dependent on a marketplace badly hurt by the pandemic. Unlike, Off Day Trainer, for example, there is not a new market emerging for them. But, by adapting to the needs of their current market, and recognizing ways it will evolve because of the pandemic, they too can survive and thrive.
Still doing only take out for a while,
Joel