1. FAST TAB
GET IN, GET FED, GET OUT
TOTAL NUMBER OF INTERVIEWS: 123
INTERVIEWS OVER THE PAST 24 HOURS: 11
TOTAL NUMBER OF RESTAURANT MANAGER INTERVIEWS: 7
TOTAL NUMBER OF CONSUMER INTERVIEWS: 116
3. Partners
Restaurants
Corporate Private
Events
Departments
Open Table API
Yelp/Eater
Payment processor
Strategic Partners
Uber/lyft/via
Advertising
parallels
Hotels/convention
centers
Value Proposition
Customer
Time/Access
Atmosphere/Social
Quality meal
Operator
Access to new
customers
Turn time
(primary gain)
Free promotion
Relationship
building with
private event
clients
Corporate
Alternative to the
catered conference
room lunch
Networking lunches
Customer
Segmentation
Corporate
Alternative to the
catered conference
room lunch
Structured
networking lunches
Consumer
Young professional
working in finance,
Consulting,
marketing, law, etc.
Restaurants
Activities
Open Table and
seamless web
functionality
Order and ‘fire’
confirmation
Customer
service
relations
Resources
Customer/
Restaurant
Database
Consumer Digital
Interface with a 2
hour lead time
booking
Operator Digital
Interface
IT/Administrative/
customer service
staff
Customer
Relationships
Reliability-
punctuality,
accuracy,
quality
Ease of use
Diverse options
Exemplary
customer
service
Channels
Private event
bookers
Organic
growth
App Store
Social media
Restaurants
Costs
Development of Customer and Operator Digital
Interface
Servers and Code maintenance
IT/Administrative/customer service employees
Marketing (bad experience coverage; promotional;
affiliate customer generation)
Revenue
Percentage of order placed- under/around 15 %
Monthly fee for access to platform (levied on
restaurants)
Advertising on site
BUSINESS MODEL CANVAS DAY 1:
5. THE DISCOVERY: RESTAURANTS
1. Two distinct segments:
• High-volume
• High-end
2. Access to new customer pool > reduced
turn time
3. Implementing the logistics not an issue
4. 10% commission revenue model
6. Partners
Restaurants
Corporate Private
Events
Departments
Open Table API
Yelp/Eater
Payment processor
Strategic Partners
Uber/lyft/via
Advertising
parallels
Hotels/convention
centers
Value Proposition
Customer
Time/Access
Atmosphere/Social
Alternative to
fast-casual
Quality meal
Operator
Access to new
customers
Turn Time
(primary gain)
Free Promotion
Interpretation error
reduced
Relationship
building with
private event
clients
Corporate
Alternative to the
catered conference
room lunch
Networking lunches
Customer
Segmentation
Corporate
Event planner
Consumer
Young professional
working in finance,
Consulting,
marketing, law, etc.
High-end Restaurants
Midtown,
$25-35/meal
High Volume
Restaurants
~$15-25/meal
Activities
Open Table and
seamless web
functionality
Order and ‘fire’
confirmation
Customer
service
relations
Resources
Customer/
Restaurant
Database
Consumer Digital
Interface with a 2
hour lead time
booking
Operator Digital
Interface
IT/Administrative/
customer service
staff
Customer
Relationships
Reliability-
punctuality,
accuracy,
quality
Ease of use
Diverse options
Exemplary
customer
service
Channels
Multichannel
notification
within the
restaurant
Private event
bookers
Organic
growth
(invitation)
App Store
Social media
Restaurants
Costs
Development of Customer and Operator Digital
Interface
Servers and Code maintenance
IT/Administrative/customer service employees
Marketing (bad experience coverage; promotional;
affiliate customer generation)
Revenue
Percentage of order placed under/around 10 %
Monthly fee for access to platform (levied on
restaurants)
Advertising on site
BUSINESS MODEL CANVAS DAY 2:
7. DATA ANALYSIS RESULTS:
Most insightful results:
• 81% of respondents are in Finance, Consulting,
Law, Marketing
• 65% of respondents work in Finance
• 92% are time or cuisine driven.
• Price insensitive
• They have lunch out of their office on
average 4.03 times a week, and twice
with coworkers or friends
• They would use Fast Tab 1.36 times
per week
105 data points, collected in midtown fast-casual restaurants between 11:30am and 01:00pm
Social Consumer
20-30 years
old
Works in
Finance
Willing to
spend $30
Looking for a
a more
social
alternative
Professional
Consumer
25-40 years
old
Slightly more
senior
Most
concerned
with time
and quality
EXPENSED
the meal to
corporation
Customer Archetypes:
8. HIGH END RESTAURANT
WANTS PROVIDES
New
customer pool
High quality
food
Business
professional
Exceptional
atmosphere
and services
Next
generation
regulars
LIMITED time
commitment
WANTS PROVIDES
Higher quality
food /
Atmosphere
High LTV
OWNERSHIP
over time
commitment
Added Revenue
$
FAST TAB
PRODUCT-MARKET FIT
CONSUMER POOL
9. Partners
Restaurants
Corporate Private
Events
Departments
Open Table API
Yelp/Eater
Payment processor
Strategic Partners
Uber/lyft/via
Advertising
parallels
Hotels/convention
centers
Value Proposition
Customer
Time/Access
Atmosphere/Social
Alternative to
fast-casual
Quality meal
Operator
Access to new
customers
Turn Time
(primary gain)
Free Promotion
Interpretation error
reduced
Relationship
building with
private event
clients
Corporate
Alternative to the
catered conference
room lunch
Networking lunches
Customer Segmentation
Corporate
Event planner
Social Consumer
Young professional
working in finance,
Consulting, marketing,
law, etc
Price insensitive
Wants more social
alternatives .
Professional Consumer
Slightly more senior
and high end driven
Wants to facilitate
Client lunches but are
time driven
High-end Restaurants
Midtown, $25-35/meal
High Volume Restaurants
~$15-25/meal, midtown,
crowded
Activities
Open Table and
seamless web
functionality
Order and ‘fire’
confirmation
Customer
service
relations
Resources
Customer/
Restaurant
Database
Consumer Digital
Interface with a 2
hour lead time
booking
Operator Digital
Interface
IT/Administrative/
customer service
staff
Customer
Relationships
Reliability-
punctuality,
accuracy,
quality
Ease of use
Diverse options
Exemplary
customer
service
Channels
Multichannel
notification
within the
restaurant
Private event
bookers
Organic
growth
(invitation)
App Store
Social media
Restaurants
Costs
Development of Customer and Operator Digital
Interface
Servers and Code maintenance
IT/Administrative/customer service employees
Marketing (bad experience coverage; promotional;
affiliate customer generation)
Revenue
Percentage of order placed under/around 10 %
Monthly fee for access to platform (levied on
restaurants)
Advertising on site
BUSINESS MODEL CANVAS DAY 3-4:
11. TARGET MARKET:
High-end Restaurants
Major Banks
Major Law Firms
Major Advertisement Firms
RESTAURANT NETWORK
Top 30 restaurants in Manhattan have a total revenue of $526 Million
14. CHANNEL & REVENUE MODEL
Customer
•Books Table (through Fast Tab, Open table API, etc.)
•Specifies time
•Specifies food selection
Fast Tab
•Receives payment
•Notifies operator
Operator
•Transmits information (time & food
selection) to the kitchen
•Fire order at the right time ahead of
customer’s arrival
Customer
•Arrives, sits, eats and leaves
Fast Tab
•Transfer payment to operator
(End of each month)
Operator •Pay ~10%fees to Fast Tab
Booking
confirmation
Virtual
Physical
GET STRATEGY
• In-bed “filter” with yelp & OpenTable search (E.g. Fast Tab available)
• Organic Expansion Strategy: Word of mouth (E.g. Coworkers, friends)
• Restaurant’s advertisement (E.g. Fast Tab Reserve Sign)
• Corporate Partnership (E.g. Client lunch)
16. MARKET SIZING
TAM
TSM
TARGET
MARKET
•New York State
•Total Restaurant
industry revenue:
$33.2 Billion
•New York City
•Total revenue of the
restaurant industry:
$9 Billion
•Top 30 restaurants in
Manhattan
•Total revenue:
$526 Million
PENETRATION RATE (E.G. ~20%) X TARGET MKT X FEES (~10%) = $10M