BOSTON--(BUSINESS WIRE)--Sep 12, 2023--
Toast (NYSE: TOST), the all-in-one technology platform built for restaurants, today announced the launch of Toast for Cafes & Bakeries —a new solution designed to help cafes, coffee shops, and bakeries add new revenue streams, speed up service with faster workflows, meet guests where they are, and grow their business. Catering Online Ordering and Restaurant Retail are among the exciting new features that cafes, bakeries, and all other restaurant types Toast serves can benefit from using. Toast for Cafes & Bakeries builds on recent launches from Toast that introduce functionality tailored for specific restaurant categories, such as last year's releases of Toast for Quick Service and Toast for Hotel Restaurants.
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(Photo: Toast)
“Running a successful cafe or bakery requires meticulous planning and preparation to produce a high volume of great food and drinks daily while also providing lightning quick service during the morning and afternoon rush,” said Aman Narang, Co-Founder and COO of Toast. “Toast for Cafes & Bakeries is designed to handle everything from rush times to catering orders, merchandise, and more. Whether getting a first location off the ground, growing new revenue streams like retail or catering, or accessing functionality specifically designed to make cafes and bakeries more efficient, Toast is an ideal partner.”
New Catering Online Ordering adds revenue stream, helps save time
Approximately four out of five small to medium-sized cafes and bakeries derive a portion of their sales from catering—generating 12 to 32 percent of their revenue from this channel, according to a recent Toast survey 1. Available in Toast’s Catering & Events Pro module, Catering Online Ordering helps cafes, bakeries, and other restaurants customize their digital ordering experience to fit their catering operations. This provides a frictionless online ordering experience, making prep for large orders easier, and expanding Toast’s digital ordering capabilities to enable restaurants to continue growing their off-premise revenue streams. Restaurants can set separate hours of operation for the catering business, longer lead times for large orders, and even order minimums. Staff can also easily prep for big orders, creating printable pack sheets and prep lists, and tracking catering orders through a shared calendar.
“As a bakery, Toast has been a game-changer,” said Steven Rennau, Director of Operations at Toni Patisserie & Café in Hinsdale, Illinois. “With Catering Online Ordering the entire team saves time. It gives us a bit more control as we can set longer lead times and higher minimum order size. In addition, we were able to roll out an entirely new category of ‘Celebration Cakes’ —we’re talking about $150-$175 cakes coming in online.”
Restaurant Retail — a unified foodservice and retail POS system
For many restaurants, including cafes, coffee shops, and bakeries, food service and retail go hand in hand. Guests may want to get a bag of coffee beans, a branded mug, or other curated goods with their morning latte. Unlike most POS products on the market today, Restaurant Retail provides a unified foodservice and retail platform on a single account, giving restaurants like cafes, coffee shops, and bakeries the power to use merchandise, dry goods, and other items to build their brand and cater to their customer base. Restaurants can easily and efficiently manage their barcoded inventory, providing tools that allow them to create and update inventory across multiple locations, generate and print barcodes, and auto-calculate mark-ups to help optimize margins. Unlike other retail solutions for restaurants that separate the POS from inventory lists, Restaurant Retail is purpose-built to allow retail items to flow throughout Toast products such as its POS terminals, online ordering, and kiosks, enabling restaurants to seamlessly manage both the foodservice and retail elements together.
“The interface was so many levels above what we were using. When I peeked behind the curtain and saw some of the features Toast offers, I was sold,” says Shayna Ferullo, founder of Snowy Owl Coffee Roasters on Cape Cod, Massachusetts. “Having Toast Restaurant Retail gives us much more confidence in adding new SKUs to our shelves.”
Additionally, Toast for Cafes & Bakeries allows restaurants to:
- Input complex orders easily and quickly with Open View: Open View simplifies order-taking by displaying items and modifiers all at once, a critical innovation for establishments with a high volume of highly configurable menu items. Staff taking complicated coffee orders, for example, can input a guest’s exact preferences in any order on a Toast POS terminal via the new layout according to the natural flow of conversation.
- Reduce chaos at the pickup counter with Order-Ready Boards: Toast’s new Order-Ready Boards allow staff to share the status of an order on a guest-facing screen within the restaurant. Instead of staff calling out to guests that their latte is ready, cafes, coffee shops, and bakeries can uplevel the order pickup experience.
- Reward guests for becoming regulars with Item-Based Redemption and Offers: Coming this fall, Item-Based Redemption lets cafes and bakeries configure menu items as rewards, allowing guests to redeem a free item in exchange for loyalty points. Toast’s new Offers feature lets staff create wow-moments for guests by designing custom promotions like Buy One Get One deals or half off pastries after 3pm. With these out-of-the-box tools, cafes, coffee shops, and bakeries can now easily keep regulars coming back without having to devote time and resources to build features like this on their own.
- Be the heart of the community with Fundraising: The Toast Fundraising feature allows restaurants to pick their favorite non-profit to support and gives guests the option to round up their check to the next dollar and donate the difference. To maximize impact and contributions, this can be surfaced to guests on several Toast products, including Toast Flex terminals, Toast Go handheld devices, Toast Online Ordering, and the Toast TakeOut app.
Toast for Cafes & Bakeries is designed to help restaurants thrive. Multi-location cafe and bakery Maman has grown with Toast from six to 30+ locations across the eastern seaboard with more locations planned.
“Toast has made it so much easier for us to grow," said Benjamin Sormonte, Co-Founder and CEO of Maman. "Without having a partner like Toast, it would’ve been very complex and challenging for us to continue to expand."
Learn more about Toast for Cafes & Bakeries.
FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the context of the statement and generally arise when Toast or its management is discussing its beliefs, estimates or expectations. Such statements generally include the words “believes,” “plans,” “intends,” “targets,” “may,” “could,” “should,” “will,” “expects,” “estimates,” “suggests,” “anticipates,” “outlook,” “continues,” or similar expressions. These statements are not historical facts or guarantees of future performance, but represent the beliefs of Toast and its management at the time the statements were made regarding future events which are subject to certain risks, uncertainties and other factors, many of which are outside Toast’s control. Actual results and outcomes may differ materially from what is expressed or forecast in such forward-looking statements. Forward-looking statements include, without limitation, statements regarding the expected results of the launch of Toast for Cafes & Bakeries, new functionalities including Catering Online Ordering and Restaurant Retail, and the benefits of such launch and functionalities on Toast’s business and operations.
The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Toast’s filings with the Securities and Exchange Commission (“SEC”), including in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations'' in Toast’s Annual Report on Form 10-K for the year ended December 31, 2022, Toast’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, and Toast’s subsequent SEC filings. Toast can give no assurance that the plans, intentions, expectations or strategies as reflected in or suggested by those forward-looking statements will be attained or achieved. The forward-looking statements in this release are based on information available to Toast as of the date hereof, and Toast disclaims any obligation to update any forward-looking statements, except as required by law. These forward-looking statements should not be relied upon as representing Toast’s views as of any date subsequent to the date of this press release.
1 To help better understand the restaurant industry, Toast conducted a blind survey of 847 vSMB/SMB restaurant decision-makers from May 26, 2023 to June 20, 2023. Respondents were not made aware that Toast was fielding the study. Panel providers granted incentives to restaurant respondents for participation. Using a standard margin of error calculation, at a confidence interval of 95%, the margin of error on average is +/- 3%.
TOST-CORP
Source: Toast, Inc.
Media: media@toasttab.com
Investors: IR@toasttab.com
View source version on businesswire.com:https://www.businesswire.com/news/home/20230912029627/en/
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KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: MOBILE/WIRELESS TECHNOLOGY PAYMENTS SOFTWARE NETWORKS RESTAURANT/BAR FOOD/BEVERAGE HARDWARE DATA MANAGEMENT RETAIL
SOURCE: Toast, Inc.
Copyright Business Wire 2023.
PUB: 09/12/2023 08:00 AM/DISC: 09/12/2023 08:03 AM
http://www.businesswire.com/news/home/20230912029627/en
