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Smart Menu Final NSF I-Corp Presentation

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  • Transcript

    • 1. SmartMenu Virtual Dietitian Website Mobile Tabletwww.foodswapper.com GT App www.smartme.nu
    • 2. SmartMenu Virtual Dietitian Spoke to 180 Customers Website Mobile Tabletwww.foodswapper.com GT App www.smartme.nu
    • 3. Team SmartMenu Elizabeth Mynatt, PhD Principal Investigator Jiten Chhabra, MD, MS Entrepreneurial Lead Paul Freet Mentor
    • 4. Team SmartMenu Elizabeth Mynatt, PhD Principal Investigator Jiten Chhabra, MD, MS Entrepreneurial Lead Obesity Sales
    • 5. Business Model Canvas - Week 1
    • 6. What is a SmartMenu Tablet?
    • 7. Industry Insight # 1: Four Megatrends Consumer pull for healthy itemsShift of focus from SmartMenu Federal mandate for deals to loyalty Nutrition Disclosure Restaurants experimenting with ordering tablets and apps
    • 8. Industry Insight # 2: Kiosks = Epic Fail
    • 9. Kiosks vs. SmartMenu TabletIncrease Average Check 20% 20%Decrease Labor Costs 1K Per Month 1K Per MonthIncrease Repeat VisitsUsabilitySize Large SmallCost of Goods $15000 $1000Annual Support Costs for 1k Units $1M $100K
    • 10. We spoke customers from all segmentsChick Fil A, Darden Group, India Cafe, Tin Drum, Fresh 2 Order, Best Restaurant Group,Naked Pear Cafe, Chuck’s Famous, Tazikis Cafe, Atlanta Bread Company, ChameleonMexican, Zapata, Great Harvest, Barkers Red Hot, Ingredients, Salad Works, Panera Bread,Freshens, Juice Works, Yogli Mogli, Mediterranean Grill, Buckhead Pizza, Mama Niki’sPizza, Yeah Burger, Little Caesars, Fogo De Chao, Peninsula Creamery, Which Which,Einstein Bros, Whataburger, Jimmy Johns, Jason’s Deli...............We chose Fast-Casual because:
    • 11. Market Size TAM : All Restaurants = 960,000 * $200 * 12 = $2.3 Billion Per Year SAM : All Fast Casual$2.3 B $864 M $266 M = 360,000 * $200 * 12 = $864 Million Per Year Initial Focus : Fast Casual 10-50 units = 111,000 * $200 * 12 = $266 Million Per Year
    • 12. Customer ArchetypeCEO of a Fast Casual Concept (10-50 Units)35-60 YearsUsually maleHas past operator experienceHas family members in the restaurant industryVery busyFocussed on operationsRelies on VP Operations and Store ManagersWorking with franchising consultantsListens to franchisees Demand Creation Strategies to Reach Fast Casual CEO’sMember of state & national associations 1. Super FranchiseesReads industry publications:Nation’s Restaurant News 2. Direct MarketingFast Casual 3. Franchising ConsultantsQSR 4. POS ProviderRestaurants & InstitutionsRestaurant Business 5. Industry publicationsFood Service Equip/supplies 6. Industry conferencesRestaurant Hospitality
    • 13. Money Flow for Fast Casual Restaurants $5000 Per Terminal Usage Fee= $1% Point-of-Sale On-site (Check = $10) 0.25% Per Transaction 80% Payment Diner $80K Per Unit Per Year Web and Mobile Gateway Remote (Check = $12) 20% Commission=2.5% Royalty or Licensing MerchantFranchisor Franchisee Bank Processing Fee= 4%Franchisee Training Food Costs AmenitiesDemand Creation Payroll Marketing Rent POS Support
    • 14. Validated Revenue Model for SmartMenu Point-of-Sale 0.125% Per Transaction Payment Diner Gateway Web and Mobile $2K Upfront Licensing Fee $3k Per Year 2% Per Transaction MerchantFranchisor Franchisee SmartMenu Subscription Bank $100 PM
    • 15. Channel Partner for SmartMenu Point-of-Sale Payment Diner Gateway Web and Mobile Benefits to SmartMenu Benefits to Tier 2 POS Provider Customers look here first 10-20 % commission Decrease product development cost Get recurring revenues Decrease sales expenditure Differentiate from other POS providers Decrease time to market Compete with Cloud based POS MerchantFranchisor Franchisee Bank
    • 16. Competitors / Potential Customers Cashiers $1K PMDedicated Kiosks Self-service POS Tablets Online Ordering + Mobile $20K $5K $500 PM $100 PM
    • 17. Business Model Canvas - Week 8
    • 18. Whats Next Channel Sales API’s Website Mobile Presence Fund-raising: Angel Round (300K)
    • 19. Product Demo - User Sign Up
    • 20. Product Demo - Restaurant Interface Log in Sign up
    • 21. A Personalized View of the Menu
    • 22. Lessons Learned Videohttp://www.youtube.com/watch?v=ja5Xj0OAzW8
    • 23. Thank You
    • 24. SmartMenu Personalized Ordering Software for Restaurants SmartMenuBarry Jones45Male185 lbsWants to Lose Weight PersonalizedHad Type 2 Diabetes MealLikes a Heavy DinnerDislikes Jalapenos SuggestionsAllergic to Peanuts
    • 25. Consumer Expectations Before Now

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