- Excessive operating costs contribute to high failure rate among new hospitality businesses, with many closing their doors within the first five years.
- The single biggest challenge for hospitality operators is skyrocketing labor costs and an inability to find available, reliable employees.
- Nightfood Holdings’ Future Hospitality Venture’s Robotics-as-a-Service model enables businesses a lifeline in the rapidly changing environment.
Starting a restaurant or hotel demands a substantial initial investment, creating significant barriers that many entrepreneurs find severe. However, those who fail to embrace automation face obsolescence in an increasingly cutthroat market. Integrating robotics in hospitality not only liberates businesses from extinction due to being unable to compete with those that successfully transition, but it slashes operational costs and allows for efficient handling of repetitive tasks. Nightfood Holdings (NGTF) and its subsidiary, Future Hospitality Ventures Holdings Inc., are making expensive automation attainable for operators in the hospitality sector, helping businesses adapt before it’s too late.
Costs to enter the hospitality space include acquiring a location, licenses, equipment and supplies as well as labor expenses, quickly adding up to a significant financial burden. Because the industry is labor intensive, many new establishments find themselves unable to afford the staff needed for competitive…
NOTE TO INVESTORS: The latest news and updates relating to NGTF are available in the company’s newsroom at http://ibn.fm/NGTF
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