It's about time Dan came out of the bunker (or lab) with an update. I appreciate lots of very important stuff to attend to, but the market (and investors) do like to be thrown the odd scrap of news. Surely an hour out the diary to do a podcast and steady the ship would be time well spent. I'd appreciate an update, for one.
The schizophrenic nature of certain people's posts only points to one thing. Trading and ramping / deramping.
We're mid July and the nationwide roll out should begin in earnest start of September. The next RNS is likely to be either tech partnership or possibly annual report (I would guess). There might be one or two RNS about media initiatives or similar. Maybe recruitment progress at a meaningful point both here and Manila. Being honest I think it's going to be a long 6 weeks but can see the share price picking up second half of August in anticipation of September. Just my opinion anyway.
I've had a dabble here this morning after watching the various Proactive investors vids over the last few months.
Very hard to get a sense for the commercials, but seems like a fairly hot sector and data is gold-dust these days - the acquisition prices in the sector can be very large. Seem like good people on board and combined with the current market cap thought worth dipping a toe... good luck all.
In the short term can see us dropping to mid to lower 4's off back of lack of newsflow and probably annual report, followed by some strong rises as nationwide roll out begins in September. Just have to be fairly philosophical about it!
If you have any feedback then in the app click on the contact us section and there is a feedback form. Sent a few bits in myself from my own observations of the UI playing around with it and some suggestions from my gf who tried it out in Bournemouth.
Nice they listen to feedback hey? I mentioned something on here once and it was fixed two days later.
They are working through a different way to display locations in the future as there will be too many to list by town and city.
Agree with the bulk of what you say, and I was grateful for Aidan's update in Twitter chat earlier which was comprehensive. After some great progress there was a bit of a crossover point about 5 weeks ago where the company's eyes were bigger than its belly in terms of what was achievable in the short term and market expectations became unrealistic. The company 100pc though are aware of where the shortfalls are and putting in place the building blocks. So much going on behind the scenes both here and Manila.
The one fly in the ointment in the short term may be the annual reports. Whilst largely irrelevant moving forwards some people will be spooked by a high cost base and low income. Depends how many shares are in sticky hands now. As I posted yesterday there seems to me to be a roadmap to profitability which comes with scaling up, and it would be helpful to educate the market how it can be a viable business model in future podcasts.
Very contemporary approach to marketing lined up too, looking forward to the blogs and celeb ambassadors. Will be interesting to see what household names are lined up.
As someone else said, regions have launched with a few restaurants and been up at 20+ a few weeks later. Reality is that the region manager starts 5 August. I'd expect there to be 40 to 50 restaurants in Brighton by say end of October.
There are not a lot of shares in free float for dish. My estimate is 25% to 28%. It's definitely one the day traders have got hold of as it can be moved quickly, bit like ANIC and others. As the story grows the small amount of shares will gradually get into stickier hands.
When dish has 12 region managers I'd expect about 15 sign ups a month per manager. Lets keep it conservative though and say 150 per sales manager per year to account for drop offs and, that's 1,800 restaurants by end of year one. Let's assume we add on 500 restaurants through chains, and that's 2,300 restaurants in a year.
Let's assume each restaurant generates £200 a month for Dish, through seating fees and any other future income streams they put in place. And lets assume that on average they are on Dish 10 months of the year. That's £4.6m income for a full year of 2,300 restaurants signed up.
Let's assume they do the same again the next year, and we double restaurants to 4,600. That's £9.2m income.
And so on as they continue to grow. Even if you think that's overoptimistic and want to halve everything, you can see the potential over time.
The cost base for Dish is not going to be massive. Developers in Manilla on half what UK devs would cost. 12 account managers plus CEO. Marketing budget. Media manager etc. Even if you put in £3m a year for next couple of years, it seems more than feasible to me that Dish can wash its face as a business model relatively quickly.
How many restaurants did Sanj help add in previous role? Wasn't it over 13,000 or something? Doesn't seem unrealistic to me. Yes, some of the comms or aspects of the roll out have been naïve, or premature. Yes, the app could be improved in places. But Sanj and team are clearly working their butts off and its all about recruiting a team to meet the high expectations that the market now have. They will get there, and progress over Q4 and Q1 2020 will be very transparent, so keep calm and carry on IMO, but DYOR as they say! Hope my maths add up, just a quick post amongst the doom and gloom today!
The new territory manager will cover T3 which will include Brighton. So expect them to be fully focused on building to a high number of restaurants in q3 and q4, starting 5 august. There has been no territory manager in Brighton, they were signed up by Sanj inbetween recruitment and everything else. To be honest they may have been better just waiting and launching with more, but at least the new territory manager will be able to show restaurants that its live and first peers are signed up.
And I make it 9 more territory managers to be recruited.
Dish have also said aiming to recruit a number of tech staff to improve app experience.
These steps all just building blocks, it does require patience. Sanj had huge experience in this area and if he felt the proposition needed tweaking I am sure we would have seen it or will do in the future, but hes very bullish on it.
The reality is you cant sign up restaurants quickly without the sales team and tech support, and that's all being put in place and quickly.
Professional quality package of photography or videos to promote restaurant on dish (or elsewhere).
Promoted placement on app is an obvious one.
Flash offers triggered by time of day or maybe proximity to restaurants.
Buy data package to understand trends of your own restaurant vs others maybe in the area or nationally and tips on how to improve.
Introduction of dish partners for related services, could be marketing, accounting, interior design, kitchen refitting, improvements to get a 5 star hygiene rating etc.
Feature in dish blog or visit from brand ambassador / celeb etc.
Recruitment database of restaurant staff or chefs including emergency gig economy style workers.
Promote your restaurant to top diners in your area.
Add on drinks packages.
Add on special occasion items like bday or anniversary cake/ champagne etc. Bigdish celebrations etc.
Just a few off the top of my head, not saying all great ideas but if you are immersed in that world as Sanj and team are the world is your oyster really. Key thing is understanding the pain points for restaurants and organically introducing relevant offerings at the right time. And I am sure plenty of upsell opportunities for customers too.
Loads of advantages with chains including lower costs to onboard and manage.
On a separate note, I was having a look at the original prospectus for dish, and based on published shareholdings there plus the recent 2.1m investor, less than 30pc of shares can be in free float. Which is good news for us and one of the reasons the share price moves so quickly on news.
For what it's worth Razel I hold both Dish and NFX. NFX has an RSI of about 46 and Dish around 40 which indicates both are getting towards oversold territory. Both have potential for great newsflow in the remainder of the year so I wouldn't want to be out of either. Dish does have a much smaller market cap though.
Nobody can answer that Jsmith. In an interview end of May Sanj said working towards 2000 restaurants in the next year so that would be about 200 per territory. I think tastecard had 6000 when acquired, so that would probably be a long term target. Each of the 12 territory managers would only need to sign 14 a month for a year for dish to hit 2000 restaurants which should easily be doable. And that's not including chains.
I think we'll see a good interview with Sanj tomorrow, painting an exciting picture of what's to come that people can digest over the weekend. Followed by Brighton launch next week.
Good to see the company back on the front foot on the comms front. If I remember right it was just after an Andrew Scott interview, when the business revealed more than it had previously, that momentum started to pick up. These things are essential to help investors understand potential.
I'd hope we'd see a decent uplift on Brighton and partnership, personally. Especially if decent numbers. Would be good if they could get a couple of podcasts or videos in too though to spread the word.
Think the RNS may have gone a bit under the radar this week as ********** was down that day and a fair amount of small cap investors and traders get their RNS alerts from there.
After some incredible rises recently all three of my biggest holdings have backpedalled a bit, dish being one of them. But they are all also due some good newsflow over the next few months, so just have to take the rough with the smooth sometimes.
I sold a small percentage last week to fund something else I wanted to buy into, but retain over 90pc of my shares (mostly bought in the 3 and 4ps) and plan on holding long term. It is purely a matter of patience as numerous people have said.
It would be good, however, to get some kind of update from Dan as to what's been happening since the positive news came out around licensing deals and perhaps latest on other drugs. I dont know if hes waiting for Spreadex to sell out first but no doubt lots going on behind the scenes and newsflow wont be too far away.
Looks like a good price to buy or top up at but I have enough in my portfolio.
Like the idea of the brand ambassadors and them being long term shareholders. If executed well could really raise awareness. Kind of thing restaurants will generally want to be associated with too.
Good to hear that BOD and some management not taking remuneration and aligned to shareholders too. Hope Sanj has a good chunk of shares too.
Between recruitment, Brighton, all the other initiatives they seem very busy.