16 hours Ago By Adriaan Brits
Share Tweet Share Share Email The hospitality industry is facing a significant shift, with the rise of a cashless society and the introduction of new tipping legislation in the UK. At the forefront of this transformation is Mason Potter, the co-founder of Grateful , a pioneering digital tipping and tronc platform that is revolutionising the way businesses and their employees handle tips and service charges. With a background in tech, Potter found himself inspired to tackle the challenges facing the service industry, particularly the need for greater transparency and efficiency in the tipping process.
Grateful’s mission is to bridge the gap between the growing trend towards cashless transactions and the critical role that tipping, or “ TRONC ” (the traditional name for a staff tipping pool), plays in the hospitality industry’s compensation structure. How did the idea for Grateful come about? The idea came from my father and I sitting in a tapas restaurant in Leeds. We had a wonderful server who had gone off shift by the time we came to pay, and we couldn’t easily leave a tip for her, or let her know how grateful we were for her great service.
Both of us were Monzo users and didn’t have cash, and we didn’t have the confidence or transparency as consumers that our tip would go directly to the server. That’s when the idea for Grateful was born – to create a cashless tipping platform that brings transparency and efficiency to the process, and empowers individuals to go the extra mile. What are the key problems Grateful is aiming to solve in the hospitality industry? With the world going cashless, workers in the service industry are suffering.
90% of transactions are now cashless, meaning cash tips and employee tipping income has gone out the window. This has also created a headache for business owners, who are drowning in end-of-month admin, processing costs, and a lack of knowledge on what’s compliant with HMRC. Furthermore, Grateful’s mission is to be so much more than just a tipping platform but to help workers become more financially resilient through the use of smart money-saving features.
How does Grateful’s platform address these challenges? Grateful’s core mission is to modernise tipping for a happier business. Our solution empowers businesses to foster a better working environment for all, from integrated TRONC systems to user-friendly QR code-based tipping. Our platform is designed to seamlessly integrate with a wide range of hospitality management systems, ensuring that tips are allocated fairly and in alignment with employees’ preferences.
What sets Grateful apart from other tipping solutions in the market? Unlike some competitors that offer one-size-fits-all solutions, Grateful’s platform enables granular data reporting and tailored tipping distribution to harness a hardworking and motivated workforce where people who go the extra mile can fairly be rewarded. This customisation extends to our revenue model, which includes a combination of SaaS subscriptions, transaction-based fees, and optional setup fees. By offering flexible pricing structures, we aim to cater to businesses of all sizes, from independent operators that want to have it just ‘dealt with’ to large enterprise hospitality groups spanning over multiple countries.
The company has also attracted notable industry veterans to its advisory board, including Luke Tobin, a distinguished entrepreneur and investor. Luke Tobin is the founder of Tobin Capital , which has partnered with Grateful to support its growth trajectory. His experience in scaling SaaS companies and deep understanding of the digital transformation landscape (learn more at luketobin.
com) has been instrumental in shaping Grateful’s market approach and growth strategy. How are you preparing for the recent tipping legislation changes in the UK? The new tipping legislation came into effect on October 1st, 2024, and it’s been a game-changer for the industry. Businesses are now looking for compliant, fair, and transparent solutions to suit their needs, and Grateful is perfectly positioned to address these requirements.
Our platform is designed to ensure compliance with the guidance, enabling businesses to focus on building their operations. We’ve been working closely with our clients to ensure a seamless transition and to help them navigate the new regulatory landscape. What are your plans for the future expansion of Grateful? We will be a global business.
There’s so much opportunity to develop the product and the offering across the globe. While our current focus is on the UK market, we’re already exploring opportunities in Europe and the United States. We’re focused on bringing to market the best possible solution for workers in today’s modern day and age.
Grateful is only just getting started and we can’t wait to bring our solution to more of the hardworking industry and for enhanced transparency and management of tips to become a norm of the industry. Related Items: digital tipping , Mason Potter , tronc platform Share Tweet Share Share Email Comments.
