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Small businesses are the lifeblood of our economy. There are 32 million small businesses and over 400,000 independently owned restaurants in the United States serving nearly all Americans in some way. U.S. consumers spend $5+ trillion) per year at retail and restaurants, but even with these staggering numbers, most of these businesses operate with legacy technology that is outdated and clunky, or have no backend software platform at all. We believe a rapid technology replacement cycle is underway, offering a nearly $200 billion revenue opportunity as the ~80% of restaurants and 90+% of retail locations using legacy solutions transition to modern, cloud-native solutions.
SpotOn is at the forefront of this transformation, empowering small businesses through modern technology to help them compete and win in the market. SpotOn offers an end-to-end, cloud-based tech stack for small business owners, including software to help process payments, market the business, pull reports, manage customer loyalty programs, manage customer reviews, and much more. SpotOn has significant advantages over legacy solutions, offering modern systems with features that allow SMBs to better serve their customers including online ordering, multi-location, and basic CRM solutions. Furthermore, the company is truly client-first with its sales and delivery model. They hire sales representatives from big coastal cities and small towns across the country to provide local, personalized support to all kinds of businesses, from the local diner, to the hair salon, to the plumber.
Despite extraordinarily challenging conditions for small businesses over the last 15 months, SpotOn has more than tripled their business from pre-Covid to today. They made the right decisions for customers and future growth during the pandemic, including waiving fees for businesses required to temporarily close down, increasing their customer service offerings, hiring through the crisis, and shipping 400 product features and enhancements. And it’s paying off with happy customers and rapidly increasing new customer growth.
Small businesses are the lifeblood of our economy. There are 32 million small businesses and over 400,000 independently owned restaurants in the United States serving nearly all Americans in some way. U.S. consumers spend $5+ trillion) per year at retail and restaurants, but even with these staggering numbers, most of these businesses operate with legacy technology that is outdated and clunky, or have no backend software platform at all. We believe a rapid technology replacement cycle is underway, offering a nearly $200 billion revenue opportunity as the ~80% of restaurants and 90+% of retail locations using legacy solutions transition to modern, cloud-native solutions.
SpotOn is at the forefront of this transformation, empowering small businesses through modern technology to help them compete and win in the market. SpotOn offers an end-to-end, cloud-based tech stack for small business owners, including software to help process payments, market the business, pull reports, manage customer loyalty programs, manage customer reviews, and much more. SpotOn has significant advantages over legacy solutions, offering modern systems with features that allow SMBs to better serve their customers including online ordering, multi-location, and basic CRM solutions. Furthermore, the company is truly client-first with its sales and delivery model. They hire sales representatives from big coastal cities and small towns across the country to provide local, personalized support to all kinds of businesses, from the local diner, to the hair salon, to the plumber.
Despite extraordinarily challenging conditions for small businesses over the last 15 months, SpotOn has more than tripled their business from pre-Covid to today. They made the right decisions for customers and future growth during the pandemic, including waiving fees for businesses required to temporarily close down, increasing their customer service offerings, hiring through the crisis, and shipping 400 product features and enhancements. And it’s paying off with happy customers and rapidly increasing new customer growth.
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