S2E50 - Mapping Future Plans Through Machine Learning with Branden Mcrill

About the Episode Welcome to Episode 50 of the Wisking It All Podcast! Today, we're thrilled to have Branden Mcrill, co-founder, and CEO of Five Out, join us for an insightful discussion on the universal challenges within the restaurant industry. With over 26 years of hospitality experience, Branden dives deep into the critical aspects of achieving profitability through labor and purchasing optimization. We'll explore his journey from humble beginnings parking cars and washing dishes, to working at prestigious restaurants like Alinea and eventually launching Five Out—a cutting-edge AI and machine learning solution revolutionizing restaurant operations. Learn how Five Out's automation software is helping restaurants streamline labor budgets, prep, and purchasing to enhance guest satisfaction and profitability. Branden also shares valuable lessons from his extensive career, stresses the importance of balancing guest experience with business economics, and discusses the future of AI in the restaurant industry. Whether you're a restaurant owner, manager, or enthusiast, this episode offers a wealth of knowledge on optimizing operations and harnessing the power of technology in hospitality. Stay tuned for this enlightening conversation! Takeaways FiveOut is an automation solution for the restaurant industry that uses machine learning models to optimize labor budgets, prep, and purchase volumes. The typical customer profile is QSR and FSR restaurants, particularly those at the higher end of the SMB and mid-market sectors. The onboarding process is streamlined and automated, requiring only integration with the point of sale system. The platform provides automated labor budgets, prep lists, and purchase orders, reducing the need for manual data entry and improving efficiency. Restaurants should measure success across multiple metrics, not just profitability. Automating labor budgeting and scheduling can help restaurants deploy the right budget at the right time. Sensitivity is crucial in inventory management to ensure the right amount of stock without any shortfall. AI and automation are transforming the restaurant industry, with robots and automation being used for various tasks. 5-Out aims to become a comprehensive solution for scheduling, prep, and purchase automation. Timestamps 00:00 Introduction and Background 02:05 Starting 5-Out and the Need for Automation 08:09 Branden's Journey in the Restaurant Industry 10:29 Forecasted Revenue Using Algorithms 12:01 Transitioning to Software and AI 14:29 Refining Software Focus Towards QSR FSR Restaurants 18:23 Efficient Tech Setup Vital for Restaurant Success 20:39 Historical Sales Data is All We Need 25:11 Optimizing Staff Levels for Improved Service Efficiency 27:26 Restaurant Labor Scheduling: Time, Cost, Productivity Data 30:43 True AI is Automation, But We Need Humans 32:06 Success Not Celebrated, Errors Draw Attention. Consistency Valued 36:34 The Importance of Sensitivity in Inventory Management 40:41 The Role of AI and Automation in Restaurants 44:28 The Future of 5-Out: Scheduling, Prep, and Purchase Automation 48:07 Where to Find 5-Out This podcast is powered by Pinecast.