EasyEat.co.nz business for Sale


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EasyEat.co.nz business for Sale

  1. 1. EasyEat Limited www.easyeat.co.nz
  2. 2. Limitations & disclaimer The content of this information along with any other verbal or written advice or information we give you is based on our opinion and analysis. It is prepared and provided strictly for the receivers own business purposes. It is confidential to the receivers, its officers and advisers and is not to be copied or given to any other person or entity for their own purposes. While we have taken all due care to prepare this Report and present the information and our findings accurately, we do not represent or warrant the accuracy or suitability of the information or recommendations provided for you or your business objectives. You are solely responsible for any decisions you make, and any action or steps taken following delivery of this information memorandum to you. We do not give any representation, guarantee or undertaking that your business will be successful, or achieve any particular level of income or profit by following or using our advice or information. None of EasyEat’s, officers, employees or contractors are liable to you or any other person or entity for any damages, loss of opportunity, other loss or cost of any nature that may arise out of or be connected in any way to the use of, or your reliance on, the advice or information detailed in this Report or otherwise provided by us. EasyEat Limited W: www.easyeat.co.nz E: sales@easyeat.co.nz
  3. 3. EXECUTIVE SUMMARY EasyEat.co.nz is New Zealand’s newest (Launched June 2013) and most advanced online food ordering platform, providing restaurants an online solution for both takeaway and delivery orders. EasyEat has developed a robust and unique ordering system that allows a more efficient and online sales process via automatically generated order receipts within restaurants. EasyEat has around 11 listed restaurants in Auckland and has around 18 restaurants that have been signed and can be listed in Auckland. EasyEat has also formed joint venture with a Tauranga based service which has added an additional 28 approx restaurants to its database. EasyEat is New Zealand’s answer to the internationally proven concept successfully operating in both the US, Europe, Asia and Australia as well as most other developed countries world-wide. These companies are experiencing exponential growth throughout their respective countries with both a vastly growing restaurant and customer database. Following 18 months of intensive setup and platform building, EasyEat is now live and operating. EasyEat requires an operator who can grow the business through advertising and signing up of restaurants. EasyEat is therefore interested in becoming acquired.
  4. 4. H OW IT WORKS .
  5. 5. O PERATIONS O RDER P ROCESSING : EasyEat provide customers a simple and quick process to order takeaway meals online, both for delivery and pickup from local restaurants free of charge. Visitors to EasyEat move through the following process at www.easyeat.co.nz to make an order: 1. Selecting their residing suburb. 2. A list of restaurants are displayed for choice, stating both their food type and opening hours 3. After selecting their chosen restaurant, the full restaurant is displayed with definitions and prices. 4. After entering the quantity required of a certain item, it can be added to the ‘shopping cart’ which is prompted by a drop down cart summary. 5. To complete an order the customer will choose their preference of pick-up or delivery and click ‘checkout’. 6. The customers is then prompted to either login or create and account and enter credit/debit card details for payment or cash on pickup/delivery. 7. A confirmation of the order is then emailed to the customer and a copy of the order is sent via 3G connection to a receipt printer hosted in the restaurant. The restaurant then confirms or declines the order 8. The order is fulfilled by the restaurant and pickup or delivery occurs. 9. Payment is collected by EasyEat and is paid to the restaurant 20th of the month following payment, minus the total commission due. You can access backend of website from www.easyeat.zes.zeald.com/admin/login and makes changes to the menu/content/layout etc. Very simple to use and Zeald.com (website developers) offer free unlimited support P AYMENT P ROCESSING : All payment processing is made through a hosted DPS payment gateway. You can login www.dps.co.nz and www.bnz.co.nz to view transactions.
  6. 6. O VERVIEW OF THE O PPORTUNITY • EasyEat is in a strong position to utilize its superior functionality and become the market leader in online takeaway restaurant orders. • Some prime restaurant clients have already been sourced, many of these on exclusive contracts • The company has a completed and fully functional online platform that is currently operating and taking orders. • With over 12,000 takeaway outlets operating within NZ there is room for substantial growth over the coming months. • Primary goal is to open online ordering services to restaurants that do not currently offer this service. • Minimal competition in the market .Unlike other retail segments — like apparel — food isn’t a sector that can be disrupted by offshore players. You can’t deliver takeaway food from overseas so a business like EasyEat doesn’t compete against the likes of Amazon.com etc. • Management can offer 12 weeks free support (5 hours per week via email/phone) for the new owners. The Website developers offer unlimited support for free for any issues/questions with the website. M ARKET S IZE Annually in New Zealand restaurant & takeaway outlets contribute to a $7 billion dollar industry. There is currently over 12,000 takeaway outlets serving 1.5million meals a day, this ranges from fully licensed premises to ‘fish and chip’ type takeaway stores. Restaurant Association and the Auckland University of Technology 2013 report shows takeaway sales have risen 25 per cent in four years. A recent survey by the NZ Restaurant Association shows 20.2% of restaurants surveyed would like to provide an online ordering service, however this is generally unattainable due to cost of building a platform. EasyEat expects to service a minimum of 5% of restaurants nationwide within 2 years, with heavy focus lying on metropolitan centers such as Auckland and Wellington. Expansion into regional areas could be expected to follow. Data in Australia from DeliveryHero.com.au & Eatnow.com.au & Menulog.com.au show large growth. All have over 2000 restaurants listed on their websites. DeliveryHero started in late 2011 and have over 2000 restaurants. DeliveryHero processed over 500,000 orders in 2013 with average price of around $44 per order. They charge a typical commission of 10 to 12% http://www.perthnow.com.au/news/western-australia/butter-chicken-tops-takeaway-list-for-wa-ahome-delivery-state/story-fnhocxo3-1226772004203
  7. 7. OFFER The company wishes to place the following offer for consideration: • Complete website hosted by ‘Zeald.com New Zealand’ • 11 order ‘confirmation printers’ valued at cost ($80-$90 USD per unit) • Details of the ‘Confirmation Printer’ supplier in China • Goodwill, including all branding and trademarks • Stickers for restaurant windows • Google adwords account (eg. Takeaway delivery advert on google etc) • Account with Vodafone for each printer • Account with BNZ Bank and DPS.com for taking credit card orders • Account with Zeald.com for hosting (including unlimited website customer support) • Agreement with Dial4ameal.co.nz ( See attachments) • Company prepay cellphone • Over 2900 Facebook fans and Facebook page at www.facebook.com/easyeat • All marketing material • Contracts with all signed restaurants • Management can offer 12 weeks free support (5 hours per week via email/phone) for the new owners. • Management agree to not compete in the same industry for 10 years
  8. 8. STRATEGIC PARTNERSHIPS L OCATIONS : EasyEat offers around 39 restaurants for online ordering within Auckland and Tauranga. There is also another 18 contracts that have been signed with Auckland restaurants that can be added to the website. The restaurant genre ranges from exotic offering such as Indian and Thai food to Pizza and traditional western dishes. Most restaurants are available for both pickup and delivery with the delivery restaurants providing their own delivery services. Restaurants listed on the website include: Auckland Symonds Indian Restaurant Tiffin Restaurant Bolliwood Ponsonby Restaurant Bolliwood Takapuna Restaurant Indian Tadka Restaurant Moti Mahal Restaurant Chaahat Restaurant Nite Spice Restaurant Empress of India Restaurant Wok Express Ponsonby Restaurant Wok Express Kingsland Restaurant Auckland Restaurants signed up but not yet listed include: Mantra Restaurant Ghazal Cuisine Restaurant Curry On Wheels Restaurant Top Top Kebab House Restaurant Sahara Cuisine Restaurant
  9. 9. Nickies Thai Restaurant Flavours Of India Restaurant Thai Ocean Restaurant Kebab City Customs Street Kebab City Parnell Annabelles Restaurant Lil Roma Woodfire Pizza Restaurant Mt Eden Village Fish Shop Punjab Lovely Art Thai Restaurant Alp Ice Café Thai Takapuna Restaurant Curry Leaf Restaurant Tauranga via Dial4ameal Ajo's Armazem Restaurant & Bar Asian Fusion Bay Sushi at Papamoa bb's cafe Fraser Cove Bombay Basserie – Mount Bravo 2013 Café Alfresco Cafe Versailles Collar & Thai Ivory Premium Urban Lounge La Mexica - the people's cantina Mt Mellick Mumbai Masala Bistro & Tandoor
  10. 10. My Choice Indian Bistro & Bar Satori Lounge - Sushi Restaurant & Bar Sierra Cafe Cameron Road near 11th Avenue Talk of India Tasty Thai Restaurant Thai 2 Go Restaurant & Takeaway Thai Thani 1 – Papamoa Thai Thani 2 – Tauranga The Landing 2 Cafe-Restaurant-Bar Turkish To Go City Turkish To Go Mount Turkish To Go Papamoa World's End Sports Bar & Restaurant Yoku Japanese Café J OINT V ENTURES : The Tauranga based company (Dial4ameal.co.nz) has provided its restaurants to be accessed through the EasyEat platform. All orders from these restaurants are then forwarded to Dial4ameal for processing. An agreement has been executed between the parties stating the commission that EasyEat will receive from each order made through the EasyEat platform. EasyEat receives 7.5% of all the orders made through the EasyEat website which are forwarded to Dial4ameal Full details can be viewed in the ‘attachments’ at the end of this proposal.
  11. 11. F INANCIALS G ROWTH P LAN Please contact us for full financial report on all sales/revenues Income Trying to forecast future sales is very difficult due to the lack of comparable data available and without knowing exact figures in terms of number of restaurants signed up and number of customers placing orders. NZ restaurant association data & verbal discussions with restaurants show that the standard takeaway order value is usually between around $30 to $40. At a 12% commission rate this equals $3.60 to $4.80 per order. 1 order per day per restaurant equals $108 to $144 per month per restaurant in commissions ($1296 to $1728 per year per restaurant) 5 Orders per day per restaurant equals $540 to $720 per month per restaurant in commissions. ($6480 to $8640 per year per restaurant) 10 Orders per day per restaurant equals $1080 to $1140 per month per restaurant in commissions. ($12,960 to $13,680 per year per restaurant) Expenses There is no accounts payable or loans payable within EasyEat Limited. Monthly Costs: 1) BNZ Fixed costs for merchant account : 2.15 % per transaction with a minimum cost of $20 per month 2) DPS: $57.50 per month which includes 100 transactions and then $0.50 per transaction Price becomes lower as volume increases: View http://www.paymentexpress.com/Products/Transaction_Pricing 3) Zeald (hosting & unlimited support) $169.50 per month .Please note all hosting to be with Zeald.com. Please contact Zeald.com for information in regards to access to website code & changing hosting. 4) Vodafone $10 per sim for data per printer 5) Google apps $5 per month Total current fixed costs per month= $362 Approx Variable costs: Cellphone prepay and Adverting/marketing
  12. 12. GROWTH PLAN Sign more restaurants if wanted in any area in New Zealand. AN EXAMPLE BELOW : Year one could be heavily focused on securing restaurants in Auckland and/or Wellington ensuring they are signed and creating a barrier to entry for any competitors. The initial phase could be to build on the presence in the high population areas locations within Auckland & Wellington. The second phase could focus on other parts of the North Island or South island Phase 1: Continuation of building the EasyEat platform with the Auckland market by increasing restaurant selection, both geographically and in menu genre. The initial focus could be put on the following in order of priority. • • • Strategically locating and contacting restaurants in suburbs that are not currently on the EasyEat platform Recognize underserviced suburbs in Auckland in order to strategically target where the EasyEat database and presence can be increased. Build upon the variation in restaurants provided by implementing restaurants that do not provide self-delivery. This would include the use of the courier service and would allow access to a higher quality restaurant option. M ARKETING To date EasyEat has done little marketing. Good marketing could entail: Search engine optimization and google adwords Placement of window stickers in the restaurant PR (newspapers, radio etc) Facebook Daily Deal website vouchers Leaflet mailbox drops Posters in hotels, motels, schools and hospitals Banner adverts on websites such as menumania.co.nz & trademe.co.nz
  13. 13. Important Notes: Zeald.com control the hosting and some coding. Please contact them at Zeald.com too check what options you have in regards to hosting and accessing website coding. Copy of all restaurants contracts are available. Restaurants are on varied commissions Copy of all financial statements including sales are available by request PLEASE VIEW BELOW FOR ATTACHMENTS.
  14. 14. Marketing Material given to restaurants.
  15. 15. CONTRACTS WITH RESTAURANTS (SOME TERMS DIFFER FROM CONTRACT TO CONTRACT) Easy Eat Agreement Form: Business Name: Contact Person: Restaurant Name(if different) Shop No: Street No: Street Name: Suburb: City: Telephone( ) Mobile: Email: Web address: Bank account number : Easy Eat Terms and Conditions: 1. The Restaurant bears sole responsibility for the accuracy and validity of all information. 2. Easy Eat will provide the following payment method options to Customers for orders made on the Website: (i) Cash (on delivery/pickup); (ii) Online payment, including but not limited to payment by credit card; 3. Although Easy Eat will use its best endeavors to prevent erroneous orders, the Partner Restaurant is ultimately responsible for determining whether an order is erroneous. 4. If a problem arises in connection with an online payment order and the order has been communicated to the Customer, the Partner Restaurant must attempt to resolve it with the Customer.The partner restaurant must notify EasyEat and the customer as soon as possible if it declines an order. 5. If the Partner Restaurant has not complied with the order instructions and Easy Eat is required to refund a payment to the Customer (“Problem Order”), the Partner Restaurant acknowledges that Easy Eat will not pay the Partner Restaurant for this order. If Easy Eat has already paid the Partner Restaurant for a Problem Order, the Partner Restaurant must reimburse Easy Eat for the amount of the order immediately upon demand. Alternatively, Easy Eat may off-set any amount owed by the Partner Restaurant to Easy Eat in respect of a Problem Order against any monies owed to the Partner Restaurant but must notify you of the set-off in writing. 6. The Partner Restaurant is responsible for contacting the Easy Eat Customer if an order cannot be processed as requested or to clarify the details of an order if required. 7. Easy Eat will take no responsibility for any loss or damage direct or otherwise arising out of this agreement. The Restaurant will indemnify Easy Eat against any third party lawsuit or proceedings brought against Easy Eat or
  16. 16. its officers, as a result of any problems with the accuracy and/or validity of the menu displayed to the customer online and/or the quality of food or service provided by The Restaurant. 8. The Restaurant agrees to pay Easy Eat 12% commission on every confirmed order. Easy Eat reserves the right to charge customers for the total order amount and credit card fees should they elect to pay by credit card. 9. Easy Eat will invoice the Restaurant agreed fees and/or commission owed per calendar month or on other terms as agreed between Easy Eat and The Restaurant. ("Tax Invoice") 10. If the Tax Invoice reflects a net amount owing by Easy Eat, Easy Eat agrees to transfer funds via bank transfer within 3 business days. If the Tax Invoice reflects a net amount owing by The Restaurant, The Restaurant agrees to pay Easy Eat within 7 days. 11. Easy Eat and Restaurant agree to terminate this agreement upon request from either party in writing any time. No Fixed Term. 10 days written notice required and via phone call. 12. The restaurant must notify EasyEat of any menu changes/prices. 13. The restaurant must not damage the wireless terminal that it borrows from Easyeat and will pay for any damage or loss incurred. 14. The Supplier agrees to work exclusively with The Company as The Supplier's Online Food Ordering Provider until termination of this agreement. Authorized Signature Details: I have read, understood and agree to Easy Eat Terms and Conditions ____________________________________________ ___________________________________ Signature Authorized Signatory Name Date
  17. 17. Minimum order: _______________ Delivery Cost: ________________ Estimate time from order placement to delivery: _____ mins (normal period) period) _____mins (busy Estimate time from order placement to pick up: _____ mins (normal period) _______mins(busy period) How many delivery orders do you do on average per week? __________ What are your busiest days? ____________
  18. 18. Stickers placed on restaurants windows: EASY EAT_FINAL.pdf