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Just had a re-read of the RNS and noticed it now says fully funded until q3 2020, whereas in June (I think) the RNS said funded after raising to 2021? But the new RNS seems to say the telesales model will save c250k a year? This presumably means a) greatly under revenue expectations due to poor roll out performance since June or b) the previous financial modelling was unrealistic and they are correcring that with a more realistic view. There is definitely no room for error for the business now. They realistically need to start signing up 10 to 15 restaurants a day, not a week, reach a critical mass quickly and simultaneously get customers using the app (it's pointless having restaurants signed up and no users) and avoid the levels of restaurants dropping off seen this year. That might get enough momentum behind the SP to secure future investment at a level that doesnt dilute too much. If the SP remains stagnant there will otherwise be big dilution when the inevitable placing happens, whenever that actually is, and you have to assume it will be q3 2020. Sweeping changes certainly were required, it's down to the new CEO and marketing manager to deliver now, as hard to implement any further meaningful change of direction in the timeframes. Hope the new CEO is up to the job. Just my honest thoughts anyway. Good luck to those invested.
This is an excellent appointment of a new CEO. Sign-ups in December could quite possibly be described as "hypergrowth", as restaurants want "in" before the January lull happens. So good timing all round, and the sweeping changes are just what the doctor ordered(!) Not an exaggeration to say that BigDish has pulled off a coup getting this new CEO. Transformational moment today for the Company and the shareholders.
"Oh well, judging from the lack of revenue from Yield Management in the restaurant industry I wouldn't be surprised if Big Dish didn't eventually change back to a discount card company themselves as it seems to generate ten times the revenue of the current operations."
It's called the premium option coming in Q1 2020 . . . . at the moment. But like all things DISH related, don't hold your breath.
I'm not the one who is desperate here. Big Dish management are the desperate ones.
"The Company has chosen not to retain 7 of its 9 Territory Managers. The best performing Territory Managers are focused on Birmingham and Brighton and will remain with the Company and progress will be monitored."
All that fuss about the nationwide roll-out and that seems to have been all but dumped already. How long before they let the last 2 TM's go. They had 2 TM's back in May signing restaurants up to 150 total and now 5/6 months later they have got 177. No real progress at all and they could equally have just kept the original 2.
I cannot really see telesales working here as the restaurants are carrying all the costs with this yield management system and a face-on approach would be better. With the discount card system the customers paid a lot of the discount through their cards but now the restaurants have to give all the discounts and pay Big Dish as well.
Agree a lot to digest but I can still see plenty of negatives - new CEO is a telesales manager, 7 out of the 9 regional managers have been let go (from a £30K salary). Were they no good or was the management no good or is the product no good??? All 3 TM's in London have been let go!!! and the remaining 2 TM's in Brighton and Birmingham will "be monitored".
I remember I posted about a year ago that Big Dish could get the restaurants signed up with a telesales operation - but I was rather taking the **** than being serious. Telesales would be much more suitable to a business like Tastecard where they are phoning the general public to get them to but a discount card rather that here where they are phoning the restaurants. Is this just another pea-brained attempt to get this business up and running?
I did always think that Sanj was way over-promoted as CEO when all his previous experience was at B 2 B restaurant acquisitions.
I could go on.
Oh well, judging from the lack of revenue from Yield Management in the restaurant industry I wouldn't be surprised if Big Dish didn't eventually change back to a discount card company themselves as it seems to generate ten times the revenue of the current operations.
At the moment it is just one failure after another. Big Dish Asia failed; using TM's has now failed; Boer has failed; Sanj has been a failure for a year; the Brand Ambassador scheme failed; I could go on..................................
This looks to be the most positive change that one could have imagined. They have addressed the negatives that many posters had concerns about, fixed discounts, high overheads, rate of expansion, suitable management advance booking time and so on.
The broom has well and truly swept the BigDish platform spotlessly clean. The company is now in a fantastic position under the leadership of a local man who knows with first hand and recent territory success story hoe this business should be built. Make no mistake we are well and truly back on the road again. Well done to AB for taking the bull by the horns and opening new horizons full of rich promise.
As for us, investors, we can look forward to a steadily rising sp. Remember none of this starts until 2nd December so still time to get back in before this really takes off. The sp will of course move very rapidly once the sign ups start to pile in.