Frazer Nagy Discusses High-Value, Flexible Seating for Modern Restaurants

Frazer Nagy Discusses High-Value, Flexible Seating for Modern Restaurants ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ [Facebook]( [Instagram]( [Youtube]( [Linkedin]( July 04, 2024 Frazer Nagy Discusses High-Value, Flexible Seating for Modern Restaurants Frazer Nagy from Tablz explores how his platform is transforming restaurant seating with dynamic pricing, making it easy to book prime spots like corner tables or rooftop seats. Frazer's insights on integrating tech with hospitality are a game-changer for both restaurant operators and diners. Welcome to the 'WISKING IT ALL' Podcast – the series where we engage with hospitality professionals and trailblazers who've wagered it all in their pursuits. Join us in exploring their journeys, understanding their motivations, and uncovering the secrets behind their success. Every week, we'll deliver two impactful ideas and one essential insight from our podcast episode, offering perspectives that could fundamentally transform your hospitality business. If you find value in our show, please consider subscribing and leaving a rating on [Spotify](. Your support is vital in helping us grow. Curious about the challenges and lessons I learned while building WISK? Sign up [here]( and join me as I reveal exclusive insights and effective strategies from our successful journey. Your Host, Angelo Esposito THIS WEEK’S EPISODE Meet [Frazer Nagy](. Frazer Nagy is the Chief Executive Officer at Tablz, a company innovating dining with its Guest Fulfillment system. With over 15 years in the hospitality industry, Frazer has led ventures such as Transparent Kitchen and CASA Productions. He has also participated in the Techstars Farm to Fork Accelerator program, bringing a wealth of experience in transforming dining and hospitality services. In this episode, we explore the future of dining with Frazer Nagy, the visionary behind Tablz. This platform enhances restaurant revenue through dynamic seating and reservation management. Frazer discusses the importance of unique table locations, seamless integration with existing systems, high-quality photography, adaptive pricing strategies, and many more. Key Insights You Can't-Miss: - Discover how spotlighting specific tables can drive higher revenue and delight your most discerning guests. - Learn about the strategic flexibility Tablz offers by reserving unique tables for "super VIPs" and adjusting prices based on real-time demand. - Explore how Tablz's data-driven recommendations and seamless integration with existing systems make it easy for restaurants to manage bookings and optimize seating. - Find out how capturing the ambiance with high-quality visuals and incorporating pricing psychology can elevate the dining experience. - Frazer Nagy shares exciting plans to include vibe and video content in the booking process, creating richer, more immersive dining experiences. [Watch the full episode on Youtube]( 2 IDEAS FROM THE PODCAST Idea #1 Introducing Dynamic Seating and Revenue Management in Restaurants Tablz leverages dynamic pricing and premium seating to enhance the dining experience. Mapping restaurants in 3D allows customers to select and pay for specific seating options, creating a new revenue stream for restaurants with no additional cost of goods. Key Action Items: - Evaluate Key Seating Areas: Identify and categorize seating areas with high demand, such as window seats, booths, and tables with unique views. - Prepare for 3D Mapping: Ensure the dining area is clean and well-arranged, with proper lighting and setup to highlight the space's aesthetics. - Set Initial Pricing: Start with modest pricing for premium seats and adjust based on demand and feedback. Use different pricing strategies for various times and days. - Monitor and Adjust: Regularly review the performance of the premium seating options and use Tablz data to make informed pricing adjustments. - Leverage Marketing: Promote the new seating options through the restaurant's website, social media, and in-house materials, highlighting the unique dining experiences available through Tablz. Idea #2 Seamless Integration and Low Risk for Restaurants Tablz integrates with existing reservation systems, minimizing disruption for restaurant operations. Restaurants can maintain their current reservation systems while offering the Tablz upgrade option, reducing operational friction and encouraging adoption. Key Action Items: - Assess Integration Compatibility: Ensure that your current reservation system is compatible with Tablz to facilitate a smooth integration. - Train Staff: Provide training for staff on how to manage and utilize the Tablz system effectively, ensuring they understand the benefits and operation. - Start with a Pilot Program: Begin with a small-scale implementation to test the system and gather feedback before a full-scale rollout. - Communicate with Customers: Inform customers about the new premium seating options and how they can upgrade their reservations. - Gather and Analyze Feedback: Collect feedback from both staff and customers to continuously improve the implementation and address any issues promptly. [Listen on Spotify]( [Listen on Apple Podcast]( 1 KEY LEARNING ❝ Restaurants are the last industry in the world, if you thought of it from the economic standpoint, to do something called revenue management, which is the combination of premium seating and dynamic pricing. [❞]( Frazer Nagy's observation highlights a significant gap in the restaurant industry: the lack of dynamic pricing and revenue management, commonly used in sectors like airlines and hotels. Introducing premium seating options and variable pricing based on demand allows restaurants to unlock new revenue streams and enhance the dining experience. This innovation not only increases profitability but also aligns the restaurant industry with modern economic practices, offering a more customized and valuable service to customers. Implementing such strategies could be a game-changer, addressing an unmet need and setting a new standard in hospitality. [Listen & Subscribe]( P.S. Love our podcast? 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