# GRUBBRR Financial Model

Self-ordering kiosk software platform (SaaS + hardware) that replaces cashiers in QSR restaurants and petro/c-stores.

- Canonical: https://finamodel.com/startups/grubbrr
- Excel download: https://finamodel.com/startup-models/grubbrr.xlsx
- Category: Hardware/Deep-tech
- Model type: SaaS ARR / Valuation
- Funding round: IP
- Funding: $35M
- Founded: 2022
- Geography: United States (primary); global cloud architecture (US, Europe, Asia clusters shown on slide 20).
- Customer: B2B

## About the company

GRUBBRR supplies self-ordering kiosk software and hardware to quick-service restaurants and petro convenience stores. The product automates ordering that would otherwise require cashier labour, while giving operators a digital interface for menus, payments, promotions, and customer flow at each location.

The business blends installed hardware with recurring software and service economics. A successful deployment can expand across a restaurant chain, but installation quality, payments integration, kiosk uptime, and operator support determine whether locations renew and add units rather than treating kiosks as isolated equipment purchases.

Model locations, kiosks per location, hardware ASP, SaaS fees, installation, payment volume, expansion, and churn. Include hardware procurement, installation labour, payment costs, support, software operations, and sales costs. Chain wins, rollout pace, kiosk utilisation, gross margin, subscription attach, support intensity, and retention should drive scenarios.

## What's included

- 5-year monthly revenue build with stage-appropriate growth assumptions
- Full P&L, headcount plan, and operating-expense schedule
- Cash-flow statement, runway, and burn-rate tracking
- Valuation via exit multiple with a DCF cross-check
- Returns analysis with MOIC and IRR
- Unit economics including CAC, LTV, payback, and cohort retention

## Product & value proposition

- Self-ordering kiosk software running on Samsung hardware (Samsung is exclusive hardware partner; Samsung's Tizen OS only runs GRUBBRR software).
- Full ecosystem: Self-Ordering Kiosks, Mobile Kiosk, Automated Checkout, Online Ordering, QR/NFC, Digital Menu Board, Kitchen Display System (KDS), Order Progress Board, Food Lockers, Text Comms.
- Three stated value props:
  - Increase Revenue: 12–22% average ticket increase via visual upsells.
  - Solve Labor Issues: Eliminates ~$6,000+/month per cashier position.
  - Improve Customer Experience: faster service, better accuracy, eliminates lines.
- Core belief: "The cashier is obsolete".
- Samsung partnership: GRUBBRR is the exclusive software on Samsung kiosks; Samsung has 30,000+ salespeople driving leads; partnership announced June 2021.

## Market

- QSR market:
  - 860,000 restaurants in the United States.
  - 2019 industry revenue: $935B.
  - 2019 tech spend: $25B.
  - 2024 projected revenue: $1.1T.
  - 2024 projected tech spend: $55B.
- Petro/C-Store market:
  - 150,274 Petro/C-Stores in the US in 2020.
  - 2020 sales: $532.9B.

## Revenue model

Revenue streams shown in hub-and-spoke diagram:
- Recurring: SaaS Fees, Payment Processing, Texting, Advertising, Data, Marketing.
- Non-recurring: Hardware, Setup / Integration / Customization Fees, Leasing & Financing.

No pricing per unit (per-kiosk SaaS fee, setup fee, hardware ASP) is stated in the deck.

Go-to-market segments:
- Enterprise: 100+ locations - direct sales + joint partner sales.
- Mid-Market: 10–99 locations - direct + guerrilla marketing.
- SMB: bundled via Square partnership (SKU created).

Channels: Direct sales, Samsung co-sell (30,000 Samsung salespeople), Square bundled solution, Fiserv pipeline, Punchh loyalty co-sell.

## Traction & metrics

- Capriotti's Sandwich Shop: First Samsung kiosk shipped (Oct 2021).
- SoFi Stadium: Won and implemented.
- Buffalo Wild Wings convention: Demo/presence.
- Punchh integration live (13,417 Punchh followers, post dated ~2021).
- Samsung LA targeting 20% revenue from kiosks; returned to HQ to align on rollout approach (Oct 2021).
- No revenue, ARR, customer count, unit count, or growth rate figures are disclosed in the deck.

## Unit economics

- Claimed ticket uplift: 12–22% average ticket increase per kiosk deployment.
- Cashier cost displacement: ~$6,000+/month per cashier position.
- No CAC, LTV, gross margin, payback period, or COGS data disclosed.

## Competition / moat

Competitive matrix - axes: Enterprise vs. Small Business (vertical), Costly vs. Affordable (horizontal). GRUBBRR positions top-right (Enterprise + Affordable):
- Enterprise / Costly: ACRELEC, Tilster, Appetize.
- Mid / near-affordable: Grab, Bite.
- Small Business / mid-cost: LB (unidentified), TouchBistro, Toast.

Moat claims:
- Exclusive software on Samsung Tizen kiosks - competitors cannot run on Samsung hardware.
- Extensible platform with 20+ integrations (POS: Oracle Micros, PAR, Square, Clover, Xenial, NCR; Loyalty: Punchh, Grubhub, LevelUp; Payments: Verifone, FreedomPay, GardaWorld, Square, Fiserv, TouchSuite, Glory, JCM Global; Online Ordering: Olo, Deliverect).
- "No rip and replace" positioning - integrates into existing restaurant tech stacks.
- Samsung partnership accelerated GTM by ~2 years.

## Team & funding ask / use of funds

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## Recommended financial model

- **Archetype + why:** Hardware-bundled SaaS - multi-stream model with (1) non-recurring hardware + setup revenue at deployment and (2) recurring per-location SaaS + ancillary fees (payment processing, texting, advertising, data). Closest archetype: SaaS + hardware/deployment P&L, similar to Toast or PAX Technology. Not a pure ARR model because hardware and setup fees are material one-time lines.

- **Forecast horizon & granularity:** 5-year annual (Year 1–5) with monthly detail in Year 1. Granularity: location-level unit economics rolled up to company P&L.

- **Key drivers & assumptions:**

| Driver | Value |
| -- | -- |
| New kiosk locations per year (QSR) | Starting low (e.g. 50–200 in Y1), ramping via Samsung + direct |
| Average kiosks per location | 2–3 units |
| Hardware ASP per kiosk | ~$5,000–$8,000 |
| Setup / integration fee per location | ~$1,500–$3,000 |
| Monthly SaaS fee per location | ~$200–$400/mo |
| Payment processing take rate | ~0.1–0.2% of GMV |
| Ancillary revenue (texting, advertising, data) | Small % of SaaS revenue in early years |
| Average ticket uplift (used for GMV sizing, not direct revenue) | 12–22% |
| Cashier cost per month displaced (customer ROI metric) | ~$6,000+ |
| QSR total addressable locations | 860,000 |
| QSR tech spend 2024 | $55B |
| Gross margin - SaaS | ~65–75% |
| Gross margin - Hardware | ~15–25% |
| Churn / net revenue retention | 5–10% annual gross churn |
| S&M as % of revenue | ~30–40% in Y1, declining |
| R&D as % of revenue | ~20–30% |
| G&A as % of revenue | ~15–20% |

- **Scenarios (Base / Bull / Bear - which variables flex):**
  - Base: Moderate Samsung channel ramp; wins 500–1,000 new locations by Year 3.
  - Bull: Samsung 30,000-salesperson channel fires; accelerated enterprise deals + Fiserv pipeline converts; 2,000+ locations by Year 3, higher SaaS ARPU from ancillary streams.
  - Bear: Samsung channel slow to ramp; direct sales only; churn higher than expected; hardware margin compressed by supply constraints.
  - Primary flex variables: new locations/year, SaaS ARPU, hardware margin, S&M efficiency (CAC implied by channel mix).

- **Required sheets / outputs:**
  1. Assumptions - all drivers with scenario toggles (Base/Bull/Bear).
  2. Location Build - cohort by year showing new locations added, cumulative active, churn.
  3. Revenue - Hardware (one-time), Setup Fees (one-time), SaaS (recurring MRR→ARR), Payment Processing, Ancillary.
  4. COGS & Gross Profit - split hardware vs. software.
  5. Operating Expenses - S&M, R&D, G&A.
  6. Income Statement (P&L) - EBITDA and net income.
  7. Cash Flow - key for hardware-bundled model (capex-light but deployment working capital).
  8. KPI Dashboard - ARR, location count, ARPU, gross margin %, implied CAC and LTV (estimated).
  9. Sensitivity - ARPU × location count matrix; churn impact on ARR.

## Frequently asked questions

### Is the GRUBBRR financial model free?

Yes. The GRUBBRR model is a free Excel download with live formulas.

### Can I change the assumptions?

Yes. The workbook is editable and its live formulas recalculate when assumptions change.