September 23, 2022 | By Adam Henry
This month’s TechConnect Profile is highlighting MarginEdge. Founded in 2015, MarginEdge offers a restaurant management system that works with a business’ point of sale and accounting systems to streamline inventory, cost-tracking, ordering and recipes as well as eliminate paperwork and manual data entry. The company has helped over 3,900 clients in all 50 states, including CAVA, Clyde’s, Mellow Mushroom, The Honey Baked Ham Co., and more. In 2021, the company closed an $18 million Series B investment to expand company growth. In July 2022, MarginEdge announced it will move its headquarters to Arlington, taking 23,500 square feet of space at 4200 Wilson Boulevard in Ballston to help accommodate its rapid growth and appeal to a new era of office-goers.
Arlington Economic Development caught up with the Founder of Bo Davis, co-founder and CEO of MarginEdge, to learn more about how MarginEdge is saving restaurants money, discuss the company’s relocation, and plans for future growth.
Can you tell us more about how your software is saving restaurants money?
Bo: Restaurant owners and operators are stretched very thin especially with the recent labor shortages and rising inflation. MarginEdge provides daily insights into a restaurant's prime costs (costs of goods sold and labor) allowing for more informed decisions to improve the bottom line. Eliminating manual data entry and taking back-office paperwork down to 2 - 3 minutes a day instead of hours lets restaurateurs spend more time with their staff and guests.
Our recipe feature is especially helpful in this economic climate. If a restaurant knows their exact cost per plate on a daily basis, they can make better menu pricing decisions. We had a client who started using MarginEdge and found out he was losing a lot of money on his happy hour chicken wing special because the price of chicken wings had skyrocketed. He was able to make a change immediately, and it positively impacted his bottom line.
Arlington Economic Development is very excited about the recent news that MarginEdge has moved its corporate headquarters to Arlington! What are some of the primary reasons you chose to relocate to Arlington?
Bo: Arlington has such a vibrant restaurant scene. As a restaurant owner myself with a team of former restaurant owners, operators and chefs, we want to be surrounded by restaurants. Having MarginEdge clients close by is also really important. We have SER, South Block, Big Buns and more all within a short walk from the office. For our local employees, Arlington makes sense because it’s a central location with easy access to highways and public transit. The Arlington area is also great for activities outside of work and has plenty of options for wellness with a number of fitness studios and the Custis Trail for running or cycling.
Where do you see MarginEdge in the next 5 years?
Bo: Since the pandemic, we’ve seen more restaurants embracing technology and this trend has continued into 2022. We have had exponential growth over the last few years and are just getting started. There’s over 700,000 restaurants in the United States, so we’ve just barely scratched the surface with adoption. We’re constantly developing more ways for our software to improve efficiencies and help restaurants become more profitable. Safe to say we’re all really excited about our company’s potential over the next five years and beyond.
For more information on MarginEdge visit https://www.marginedge.com/. If you are a startup tech company looking to launch or grow your business in Northern Virginia, please visit AED's resource page and contact Adam Henry, Business Development Manager, for more information.
About this Profile Series
Arlington's startup ecosystem has been rapidly expanding over the past five years and is quickly becoming recognized as an established innovation hub in the United States. Since 2015, Arlington-based companies have raised over $1.4 billion in venture capital across 144 deals covering several industries, including software, artificial intelligence, cybersecurity, fintech, big data, digital media, and more. AED launched its monthly TechConnect Profiles to highlight and profile companies in our technology startup ecosystem.