“Naturally, when you raise capital, it’s always in the back of your mind that at some point there will be a liquidity event,” said JD. As JD puts it, acquisition was seen as an inevitable end, so the offer was worth considering. Naturally, he brought it up to the board, and they started to debate taking the offer. “We went through the classic startup journey: building a product, raising capital, and finding product-market fit,” said JD.Īfter five years of growth and going from a simple idea to a thriving 60+ person venture-backed startup, JD got a completely unexpected inbound acquisition request. Not wanting to build one themselves, the duo decided to use Lightspeed POS, another Montreal company making waves in the tech space at the time. In 2014, after some initial traction, JD and his co-founder Guillaume Jacquet realized many golf club owners wanted a point of sale (POS) system integrated into the Chronogolf platform. This spark led to Chronogolf, which came to market in 2013. No more manually reconciling club revenue with restaurant expenses or other issues like that. It was an interesting industry to disrupt.”īeing entrepreneurs on top of just golfers, this sparked an idea: a SaaS product that could help golf club owners manage their entire business on one platform. “Club owners had to deal with so much manually. “The industry was archaic from a tech perspective,” said JD. The trio, all being avid golfers, lamented how frustrating it must be to run a golf course: you have to deal with course memberships, restaurants, quick service food, sometimes a bar, and occasionally even a hotel to manage all in one mini-empire. Over wine with a semi-pro golfer, JD and his business partner got to talking about golf problems. Speaking with TechExit.io, JD reflected back on the story of how he turned down three other offers before selling to Lightspeed and what life has evolved to now that he’s officially on team Lightspeed. This kind of experience is one few founders go through - and even fewer enjoyed it enough to look back fondly. No longer the leader of his own company, he had become a managing director of a division within a much larger corporate machine. Select that button and select ‘’Continue’’: the account summary of the customer will come up on the iPad.After selling his startup Chronogolf to Lightspeed, JD St. When you bring up a customer to settle a bill, you will see a button called ‘’Account Summary’’. In Lightspeed Restaurant, you can see the total balance of a customer's house account, as well as useful information such as any credit card on file attached to the account.Please note that all tab transactions that are not cleared up by register closure will be put forward to the member's monthly statement the following morning.Enter the amount to be charged to the account and select OK.Find the Customer and select Confirm Payment.Select the Put on Tab/Member Charge tender.In the Order Screen on Lightspeed Restaurant, click on Pay.To charge on account with Lightspeed Restaurant, follow the next steps: When you have identified the sales items, click on Payment and select the On Account payment method.Ĭharging a house account through Lightspeed Restaurant (L-Series).In the Sales Screen on Lightspeed Retail, make sure you add your customer before completing the sale.To charge on account with Lightspeed Retail, follow the next steps: The customer now has account privilegesĬharging a house account through Lightspeed Retail (R-Series).
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |