Gregg Majewski sits down with Michael "Schatzy" Schatzberg, Co-Founder of Branded Hospitality Ventures, to unpack his remarkable journey from bartender to restaurateur and the evolving role of technology in the restaurant industry.

Key Takeaways

Choose The Right POS For Your Restaurant
Small Bets for Big Insights
Hospitality Requires Insiders and Outsiders

In this episode of Room for Seconds, Gregg Majewski sits down with Michael "Schatzy" Schatzberg, Co-Founder of Branded Hospitality Ventures, to unpack his remarkable journey from bartender to restaurateur and tech investor. They dive into the evolving role of technology in the restaurant industry, debating the balance between innovation and operator needs. Schatzy shares insights on identifying must-have tech versus passing trends, investing in game-changing startups, and navigating the challenges of venture capitalism in hospitality. Along the way, Gregg and Schatzy keep things lively with candid humor, industry anecdotes, and stories that resonate with restaurateurs and entrepreneurs alike. Don’t miss this deep dive into what it takes to thrive at the intersection of restaurants and tech innovation.

Choose The Right POS For Your Restaurant

Selecting the right POS system depends on the size and complexity of your restaurant. For smaller operators, a basic, cost-effective system may be enough. As Michael "Schatzy" Schatzberg explained, “Sometimes, good enough is okay, and sometimes you need the best.” Simple systems can handle online ordering and day-to-day tasks without unnecessary costs.

For larger operations with multiple locations, a more robust POS is essential. Schatzy noted, “If you want one unified platform for all locations and need to connect loyalty and understand your consumer, a basic POS just isn’t enough.” These businesses require systems that unify loyalty programs, analyze customer behavior, and integrate operational functions.

The key takeaway: choose a POS that balances functionality and cost, tailored to your restaurant’s unique needs.

Small Bets for Big Insights

In venture investing, taking small, strategic bets can lead to valuable insights. Michael “Schatzy” Schatzberg shared how Branded Hospitality Ventures uses this approach to explore emerging technologies like robotics, drive-through voice systems, and prep-area cameras. These smaller investments allow them to learn about trends and assess potential without overcommitting.

“There’s no possible way you can have a track record of 100%,” Schatzy noted. “So I wouldn’t make a big bet on something, but a small bet just to get a seat at the table, a look and see what’s happening.” This method allows them to focus larger investments on tech that solves immediate operational problems while staying informed about longer-term opportunities.

Hospitality Requires Insiders and Outsiders

Leadership in the hospitality industry thrives on a blend of deep internal expertise and fresh external perspectives. Michael “Schatzy” Schatzberg pointed out the unique challenges of the field, noting, “The hospitality industry... it’s really different than every other industry.” He emphasized that while outsiders can bring new ideas and innovation, their success depends on surrounding themselves with those who understand the intricacies of restaurant operations.

Hospitality businesses operate uniquely as both retail establishments and manufacturing facilities. Schatzy illustrated this by comparing restaurants to other industries: “You go to a Gap—they’re not manufacturing the shirts there... You go to a restaurant, I mean, we’re making everything there.” This dual role requires specialized leadership capable of managing front-of-house service alongside the complexities of back-of-house production, such as supply chain and labor.

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ABOUT MICHAEL SCHATZBERG:

Michael “Schatzy” Schatzberg is an entrepreneur and expert strategist and marketer. With over 25+ years of restaurant ownership and operational experience, he is the Managing Director for Branded Restaurants. Michael is an active board member and advisory board member at various tech companies. He has been active in hospitality technology investment and advisory services for over 5 years and attended Boston University.

About Gregg Majewski

Gregg Majewski has a vast amount of experience as a corporate executive in the restaurant industry. As the former CEO of Jimmy John’s, he played a major role in expanding the franchise from 33 to 300+ stores in just 5 years by surrounding the company’s marketing strategy around the innovative approach of delivering sandwiches and being “freaky fast”. Majewski has worked to develop restaurant concepts over the last two plus decades, before starting Craveworthy Brands in 2023, which currently includes a growing portfolio of restaurant brands. Craveworthy Media is Majewski’s gift back to the industry that has given him so much. The goal of Craveworthy is to inspire the up and coming industry leaders by providing important information, stories, and insights from titans past and present.

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From Bartender to Venture Capitalist: Michael Schatzberg’s Journey in Hospitality and Tech