PROBLEM
For restaurants in Latam, offering good service is getting increasingly difficult because it depends heavily on staffing that represents more than 30% of their operational costs. This staff is usually undertrained and has very high turnover (75% of waiters spend less than a year in the same establishment), causing low average ticket sizes and loss of clientele due to their poor performance. This represents the biggest challenge for the food service industry, causing 1 out of 3 restaurants to close before their first year in the market.
SOLUTION
A customized web application for every restaurant, where diners access all their services, navigate menus through QR codes/URLs, and order from their phones. Our solution allows restaurants to offer the best service on and off premise service without incurring in high staffing costs or investing in expensive self-serve equipment like tablets or kiosks, while increasing their average ticket size on table and conversion rates for online orders.
VALUE PROPOSAL
Our product is our most important weapon! We have carefully designed a hybrid between the most user-friendly UX/UI architecture aiming at a seamless diner navigation, plus the final touch of a graphic design for each restaurant in accordance with their branding, communication and marketing goals. This allows restaurants to deploy upselling strategies within their menus through several tools like controlled pop-up banners, dynamic recommendations, promotions and featured products. We are enhancing the app with AI features to increase tickets on premise through consumer-specific recommendations; increase recurring purchases with re-marketing campaigns based on data and consumption patterns; and allow for better conversion rates on online orders.
Therefore, we are best at helping restaurants differentiate and offer a complete experience to support the staff in a customer-oriented service. They usually adopt us to solve business inefficiencies (outdated menus, disorganized table reservations, slow ordering processes), and end up finding an integral tool that also helps them exploit those service channels to raise their tickets through menu engineering, smart reservations and orders, and SMS/WhatsApp messaging campaigns.
Existing solutions aim merely at the operational aspects of the business, offering very rigid front-end designs with few/none customization features that fall short when it comes to helping them sell more with fewer resources.
TWEET PITCH
Making restaurant orders more profitable with AI
TARGET MARKET
Our market is huge, with over 3.5 million registered restaurants across Latam. Capturing a $1 dollar fee for every order, at an average of 500 monthly orders per establishment, we are looking at a total addressable market of 21 billion dollars per year.
Out of the entire food-service industry in Latam, 85% is composed by independent restaurants that face the biggest operational and staffing challenges, and do not have the solvency to acquire equipment-based solutions like tablets or kiosks. Therefore, these type of restaurants sum up to a 17.85 billion dollar serviceable addressable market.
Right now, we have the tremendous opportunity to expand across Colombia and Central America, since we already have close to 900 active clients in Colombia and several in Panama, Mexico, Dominican Republic, Puerto Rico, Nicaragua, Costa Rica and Curacao. We have validated our solution in these regions and have the potential of aiming at their 185,000 restaurants that translate into more than 155 million dollars of serviceable obtainable market.