ShiftPixy Introduces Ghost Kitchen Incubator Project
ShiftPixy, Inc. (NASDAQ: PIXY) has launched its Ghost Kitchen Incubator Project under ShiftPixy Labs, aimed at supporting quick service restaurant operators in adapting to off-premises dining demand. The initiative offers insights and resources to aspiring restaurateurs, fostering partnerships that may create future business opportunities. In response to COVID-19, the project aims to leverage ShiftPixy's technology and innovative real estate approaches to help QSRs thrive in the evolving landscape. ShiftPixy continues to enhance its gig engagement platform to empower restaurant operators.
- Launch of Ghost Kitchen Incubator Project to assist quick service restaurant operators.
- Focus on off-premises dining aligns with current market demand.
- Expected partnerships with aspiring restaurateurs may lead to new business opportunities.
- Dependence on the uncertain recovery of the restaurant industry post-COVID-19.
- Risks associated with the company's business model and ability to execute growth strategies.
IRVINE, Calif., Aug. 11, 2020 (GLOBE NEWSWIRE) -- ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement platform provider, today announced the addition of its Ghost Kitchen Incubator Project to ShiftPixy Labs, the Company’s new suite of marketing and support services for quick service restaurant operators (QSRs). The Incubator Project represents a groundbreaking new approach to how aspiring restaurant operators take their ideas from inception to reality. Through this collaboration with ShiftPixy Labs, operators should gain valuable information and insights on how to launch their new businesses — and how to build and optimize around delivery and off-premise dining from the ground up. By building these relationships with budding restaurateurs, the Company expects to forge lasting partnerships that could open the door to further business opportunities.
The COVID-19 pandemic has fundamentally altered the restaurant industry, forcing QSRs to adjust their business models to meet the surging demand for off-premises dining. ShiftPixy’s Ghost Kitchen is designed to combine the Company’s industry-leading technology with a unique approach to physical space requirements to help QSRs pivot and address the new landscape.
“ShiftPixy Labs is an innovative and highly evolved approach that elevates our engagement with the QSR operator clients we support, especially during these very difficult market conditions,” said ShiftPixy co-founder and CEO Scott Absher. “The numbers are clear: Ghost kitchens and off-premises dining are here to stay, and are growing rapidly. If operators want to survive, they need to re-think their business processes, customer engagement and their approach to real estate. The ShiftPixy Labs Ghost Kitchen allows us not only to help our existing businesses but to discover and participate in the birth and growth of exciting new culinary concepts as well. We are positioned to add an innovative and highly valuable twist to the ghost kitchen movement and we look forward to sharing more details and exciting news in the coming weeks.”
Through ShiftPixy Labs, the Company expects to provide additional layers of services and engagement, from business start-up clear through to customer meal delivery. The new functionality builds on the traditional ShiftPixy gig engagement platform, which empowers restaurant operators to better leverage their human capital with cutting-edge technology tools to better navigate their way to profitability.
About ShiftPixy
ShiftPixy (PIXY) provides a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.
ShiftPixy Cautionary Statement
The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company's vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; risks arising from the COVID-19 pandemic or any other events that could cause wide-scale business disruptions; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets. Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings we make with the Securities and Exchange Commission from time to time. These documents are available on the "SEC Filings" subsection of the "Investor Information" section of our website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.
INVESTOR CONTACT: Investor.Relations@ShiftPixy.com 800.475.3655
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