Cheap eats
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3rd year Business and Management project for MEng Computing at Imperial College London. Credits: Sam Budd Ivan Diaz Rios Duncan McKinnon Sean Naderi Lorenzo Paoliani Oli Robinson Henry Turner
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Cheap eats
- 1. THE FUTURE OF INDEPENDENT RESTAURANTS
- 2. PROBLEM 60% of new restaurants fail in their first 3 years - they need more customers! Customers should know about local deals in real-time Loyalty schemes almost entirely offered by non-independent establishments PROBLEM 60% of new restaurants fail in their first 3 years - they need more customers! Customers should know about local deals in real-time Loyalty schemes almost entirely offered by non-independent establishments
- 3. PROPOSITION Cheap Eats is a mobile app that connects customers and independent restaurants It allows independent restaurants to advertise on the fly deals and offers to users in the local area Restaurants can set up customised loyalty programs, without the need to set up the infrastructure around it (loyalty cards, etc.)
- 4. MARKET 60% of new restaurants fail in their first 3 years - they need more customers! Customers should know about local deals in real-time Loyalty schemes almost entirely offered by non-independent establishments
- 5. OPPORTUNITY Help independent restaurants thrive, get more customers and reduce the waste of perishable food stocks Help customers get good value for money, rewarding them for supporting their local economies Build a network of independent restaurants that can compete against large chains
- 6. INVESTMENT We are raising £200,000 for 16% of our business Weekly deals redeemed per restaurant: 10 Restaurants signed up: 100+ Average deal price: £13 Commission: 3% Investment returned within 3 years YEAR ONE
- 7. REVENUE MODEL of every deal redeemed Sell subscription based software for business intelligence Every 100 Diamond users will generate a yearly revenue of £240,000 3% Free Basic Diamond £0 £49 £199 per month per month per month Sales Reports Performance Alerts Deal Scheduling Customer Demographic Targeting 24/7 phone support Dedicated access to a Customer Hero Complete management of Marketing campaigns + + Pricing plans for the Business Intelligence platform
- 8. Estimated number of partner restaurants
- 10. STATUS ‣ iOS Prototype ‣ In discussion with almost 200 interested restaurants in London ‣ Conducted research and surveys with positive results — 94% would use app on a regular basis ‣ Will begin rolling out app for London restaurants next month ‣ Marketing campaign to begin next month in London
- 11. Map View Shows user’s favourite restaurants, popular deals, and offers that are about to expire Targeted notification system for loyalty program members PROTOTYPE
- 12. Home Page The home screen shows the most popular deals in a given radius Builds tailored suggestions for each user based on previous deal history PROTOTYPE
- 13. Deal Page Users can claim the deal from within the app - this will generate a one time QR code that can be scanned in the restaurant PROTOTYPE
- 14. MARKETING Advertising on public transport in active cities Partner restaurants will display our marketing material in store Appeal to existing customers of partner restaurants with loyalty scheme
- 15. ROADMAPthe growth of Cheap Eats over the first five years
- 16. YEAR ONE CORE STAFF7 SATELLITE OFFICES0 LONDON
- 17. YEAR TWO CORE STAFF14 SATELLITE OFFICES3 LONDON PARISNEW YORK SAN FRAN
- 18. YEAR THREE CORE STAFF30 SATELLITE OFFICES10 LONDON PARIS NEW YORK SAN FRAN MILAN ROME SYDNEY HONG KONG SINGAPORE BERLIN MADRID
- 19. YEAR FOUR CORE STAFF50 SATELLITE OFFICES15 LONDON PARIS NEW YORK SAN FRAN MILAN ROME SYDNEY HONG KONG SINGAPORE BERLIN MADRID SEATTLE RIO SAO PAOLO TOKYO CHICAGO
- 20. YEAR FIVE CORE STAFF90 SATELLITE OFFICES20 LONDON NEW YORK SAN FRAN MILAN ROME SYDNEY HONG KONG SINGAPORE BERLIN MADRID SEATTLE RIO SAO PAOLO TOKYO CHICAGO PARIS
- 21. THE TEAM Duncan MacKinnon Sean Naderi Ivan Diaz Rios Henry Turner Sam Budd Oli Robinson Lorenzo Paoliani
- 22. THANK YOU!