Mark Walker
Toronto, ON (CAN)
Role(s):
C-Level Executive (CEO, CFO, etc.)
Reservation Maestro Inc.
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Startup
Location:
Toronto
Industry:
Internet
Year Founded:
2005
Number Employees:
1-10 people
Description:
Reservation Maestro Inc. is a relatively new venture, originally incorporated in November 2005 within the province of Ontario, Canada. Our vision is to bring to market an automated web-to-phone based reservation business to support the restaurant industry. The service will provide restaurant reservation services online via integration with a number of website partners.
Online Restaurant reservations are not new (one competitor in North America generated over three million reservations in the month of May 2008), these systems rely on email, or onsite computers which require training, maintenance, or staff to be away from the floor to handle incoming leads in a timely fashion. Typically these systems are employed by higher-end restaurants, where the high cost can be absorbed by higher meal tickets. We believe the introduction of a reservation service delivered by phone is a disruptive technology to the existing market. Our easy to understand, zero entry cost solution allows a much broader range of restaurants to take advantage of online reservations (currently only 3-4% of the market has been addressed).
We have been in development for almost two years (it took a long time to achieve telco-grade scaling, thanks to our lead developer with 30+ years experience), funded entirely by part-time work and a BBB (beg-borrow-barter) mantra, we have no debt and minimal operating expenses. We’re pleased to say that the development part of the project is ready for prime-time, we even have a Facebook Application to showcase it's effectiveness.
Our funding requirements are in two rounds:
-Phase 1 --> 200k Pilot and Proof of Commercial Concept (barely profitable)
- Phase 2 --> 500k+ (debt, equity or both) for rapid scale of restaurant signups through marketing & partner channel establishment