Three years after the COVID-19 pandemic kick-started restaurant technology investment, restaurant operators are persisting in these investments to support all areas of their business. According to the National Restaurant Association’s 2023 State of the Restaurant Industry report, more than 40 percent of operators plan to ramp up investments in equipment or technology to increase productivity in both the front and back of the house this year.
But at a time when technology is the backbone supporting a restaurant’s ability to operate efficiently, restaurants need a tech provider they can trust will stick around. Restaurant Finance Monitor expects a venture capital drought to lead to a large number of restaurant tech mergers this year, so due diligence is critical. Operators will need to weigh good-value deals from newcomers to the market against the history and stability of more established players.
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