David Elmore
Houston, TX (USA)
Role(s):
Founder/Owner/Principal
Vinyl works
Find More Startups
Startup
Location:
Houston
Industry:
Other
Year Founded:
2012
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Limited Liability Partnership
Description:
The food service industry has become the icon for establishing relationships in business and personal life. Whether it is a conference during lunch or an anniversary dinner, we look to restaurants to provide the ambiance and mood. However, isn’t there always that dilemma of not knowing where to go or what you are in the mood for? Are you visiting a new town and you’re unfamiliar with the dining establishments? Deciding where to eat with your friends or colleagues and no one seems to agree upon a place?
Food Caddy essentially eliminates the scenario because it is a web application designed to assist people in locating a restaurant based on their food preferences. The food preference is determined by our questionnaires that process the answers to give the user their own personal options when choosing a restaurant. Our vision starts with our new type of marketing profile called “Food Class Profiling” where we pinpoint and track the eating habits and tastes of consumers to analyze consumer preferences and behavior. With this information, we conjure up their profile based on a plethora of influences i.e. costs, distance, TV, web based, friend and family. Because the program analyzes and accounts for consumer behavior; it has the ability to improve quality control thus driving more traffic to the restaurant industry. The information at hand is significantly viable to marketing and research; we are providing restaurant businesses with real-time feedback that restaurant reviews fail to achieve on certain aspects. The data crunching and analyzing will be masked by our highly informative, innovate web application appealing to consumers on it’s fun, easy-to-use interface. This business is unique under three criteria:
There is not an existing company that adapts user profiles and their eating preferences to form restaurant searches. Without any competition and such a vast market, this application begins as a one-of-a-kind product.
The product provides restaurants with not only a marketing tool to track the amount of consumers guided to their restaurant, they can embed advertisements and coupon deals as a form of advertisement. Additionally, there establishment will also come up in visible searches.
Restaurant review websites and establishment locator's begin with you deciding on a category of an establishment. This application is similar to others but different in it’s own respective right. It is a decision engine backed by preloaded profiles to determine the dining place for the user. Furthermore, users can manually search for a place of their choice.
Additionally, the marketing strategies of the Food Caddy is explained below:
Integration with Facebook to penetrate the social networking demographic.
According to Google’s keyword tool and Google insight, the keyword, “where to eat” generates 25 million monthly searches
Mass mail out to all dining establishments in major cities and billboards to lure restaurants involved.
to target travel, hotel, and vacation websites.
Addressing profitability pertaining to the product should be established:
Consumers: The web application to the consumer will be free. Food Caddy can be accessed by anyone and everyone who desires the product.
Consumers: A “pro version” at a suggested price of $0.99 opens up additional features including but not limited to “profile linking with friends.” This feature permits users to join their profile with their friends in order to generate a more refined search.
Dining Establishments: Will pay a monthly subscription rate of $19.99 a month or a yearly rate of $99.99 to utilize marketing research tools and advertisement programs within the application.
Profit potential is addressed below:
According to the 2007 Economic Census, the count included, but was not limited to, 566,020 Food Services and Drinking Places, 217,282 Full Service Restaurants, 266,534 Limited Service Eating Places, and 209,819 Limited Service Restaurants in the United States. Therefore, if we hypothetically penetrate this market by at least 10 percent under the subscription rate of 20 dollars a month, we can establish a rate of 2 million dollars per month in passive income. This does not include the other popular tourist and business countries: Canada, Japan, England, France, Germany, etc. The potential growth of this company can easily be described as a domino effect