The explosive growth of smart phones around the world leads to the question of how will people make best use of them? Where eCommerce as a whole is a $1.6 trillion market, growing at an incredible 20.9% rate . . . . in the U.S. alone m-commerce is expected to grow from $54.6 million in 2014 to $96.3 million in 2016. (over 38% in a 2 year period). Overall, online ordering for FOOD has grown, in recent years, at more than 30 percent annually, with the largest increases coming through use of mobile apps. 70% of those same consumers [millennials] “expect a company website to include a self-service application”. The bottom line is: while there exists a tremendous opportunity still within the pizza market (~ 48% of the market), other food markets have very large potential: a $100B shift towards digital ordering. The latest estimates (UBS) pedicts an average growth of Food Online Ordering/Delivery to be 100% per year through 2030. The total estimated value is $365 billion.
(see https://www.aol.com/article/finance/2018/07/02/ubs-online-food-delivery-could-be-a-dollar365-billion-industry-by-2030-here-are-the-winners-and-losers-from-that-mega-trend/23473052/ )
Here is how FooNow Inc. will gain an appreciable share of this exciting market: (not limited to all types of restaurants, catering, health food stores, grocery, bakeries, & other wholesale food distribution. The wholesale/B2B is extremely valuable overall -
B2B eCommerce Market is worth $6.7 Trillion by 2020. (see: https://www.forbes.com/sites/sarwantsingh/2014/11/06/b2b-ecommerce-market-worth-6-7-trillion-by-2020/#690bf3d3212e )
There is almost no limit as to the types of food our online ordering system can create via smartphone.
1. First & foremost, FooNow is NOT an outside service (ie: GrubHub & Uber-Eats). Our system fully integrates with the food establishment's website, to produce a seamless, smooth running system that is easily controlled by that business or we can provide configuration changes anytime from from any location, through a secure, reliable cloud-based network.
a. They can fully control their menu - all descriptions, pricing, images. Restaurants can now print a high quality menu (MS Word) directly from their website. (see our eMenu website info). Direct marketing of specials to customers builds a strong customer base and customer retention. (All menu items are web-searchable. Google rates websites based on good content.)
b. The food establishment controls the preparation timing, including open and close times, for both pickup times and delivery times (optional). The business owns the customer base (unlike other online services). Most importantly, the income goes directly to that business, for easy processing. We are presently planning direct connections to the major POS systems for easy sales reconciliations. While we have been SECURELY connecting with PayPal for years, we have also successfully connected to Authorize.net, a major credit card processing gateway. We are quite confident, having many years of experience creating import/export (bridge) systems, that we can connect with any payment/POS system, provided they allow such a connection.
c. FooNow features complete, turnkey controls for weekly open/close schedules in order to control all Pickup & Delivery requests. The restaurant can easily turn Delivery off, if it became unavailable. Delivery territories can be setup & restricted when necessary.
2. FooNow's "killer" feature - "Save Your Favorite Order" allows complete multiple orders to be saved for easy future reorder. Once the past order is recalled, it can be further modified. ("Less clicks - more eating time"). In addition, this feature is an excellent way to build customer retention.
3. "eCentives" ("Make it a meal") can be offered. Our system can count the number of food items purchased (ie: chicken) to determine say how many free sauces or sides are earned. Also, price levels can be set in order for the buyer to qualify for free sides, drinks etc... (This feature will be essential for our mobile POS rollout.)
4. FooNow also offers a totally secure "Pay at the Table" web-app ("On the Spot") which could very well replace a large number of troublesome EMV systems as well as the "drag to the table" Apple-Pay terminals. "On the Spot" also allows simple communication between customer & wait staff. ("Leave Us Alone", "Need Something", "Want to Pay").
5. Finally, an alternative solution now exists for the costly "Tablet at the Table". Because (nearly) every customer who would consider using a tablet at the table, most likely uses a smartphone, FooNow has developed a tablet-free solution, allowing ordering (& paying) at the table affordable for all food service operations.
6. Future releases include:
a. Mobile Point of Sale (see www.foonow.com/pos.php) (about 95% complete)
b. a customizable loyalty program for smaller food establishments.
7. A.R. (Augmented Reality - a significant part of Virtual Reality & Artificial Intelligence). Our new visual buying technology enhances the buyer experience similar to Dominos & Papa John's systems. Our systems are also capable of multilingual communications - a consumer can order in Spanish & the order can print in Italian directly at the kitchen. (The A.R. market value in 9/2018 was ~ 1.5 Billion & is predicted to grow to ~ 100 Billion by 2020. (over 600% growth per year) (according to ABI Research, IDC and Digi-Capital -
(see also https://www.businessinsider.com/mobile-augmented-reality-in-retail-2018-6 . According to boldcommerce.com - In 2017, investors poured $3 billion into
AR/VR technology (see https://blog.boldcommerce.com/augmented-reality-in-ecommerce) <https://www.digi-capital.com/news/2016/04/arvr-investment-hits-1-7-billion-in-last-12-months/>It is strongly believed that with our suite of Food Ordering technology (2nd generation/A.R.), combined with our time-proven sales strategy, FooNow Inc. will win many thousands of new accounts, as well as convert many businesses over to the FooNow systems Most all food ordering online service businesses have no contracts. In fact, many businesses have multiple online ordering systems.
Here are some additional articles that further demonstrate this extraordinary market:
Business Insider Analysis (210Billion predicted market)
Eat24 article - Yelp purchases Online Ordering Eat24 for 134 million:
Olive Garden (Online sales up 21%)
Gift baskets make up less than 2% of total gift industry sales, worth 200B. http://brandongaille.com/30-captivating-gift-basket-industry-trends/
Catering worth 19.3 Billion & growing by double digits yearly:
Quick Serve online ordering is still in its early days - will be a $38 billion industry by 2020
Website Design Market * - "the web design service industry a $20.1B market in the US alone, and more than 16M new websites added every month . . (2013)" http://finance.yahoo.com/news/market-analysis-design-industry-180000355.html
* The restaurant business is not for the faint of heart ... or stomach. They have a high failure rate, but knowing why can help prospective owners avoid a similar fate. Around 60 percent of new restaurants fail within the first year. And nearly 80 percent shutter before their fifth anniversary. Often, the No. 1 reason is simply location - and the general lack of self-awareness that you have no business actually being in that location. (Website design is a repeat business!!) http://www.cnbc.com/2016/01/20/heres-the-real-reason-why-most-restaurants-fail.html
Product Line: (see diagram, below) it should be noted, that our all-encompassing product line is quite versatile because the core Food Ordering system is common to all business sectors listed below. The ability to customize & assemble various food creations are all closely associated, due to the essential elements of the food itself. (Pizza, sandwiches, & cake are simply layers of cooked flour with a variety of fillings strategically placed.)
Cross-selling of some of the apparently diverse food groups can produce new income streams for a Food Business (or increase particular profit centers). A restaurant can utilize a Cake Ordering Online (C.O.O.) system (see below) to enhance catering operations by allowing customers to conveniently begin the custom cake selection process, saving the restaurant significant time. In addition, the system will produce clear orders that can be sent off to the bakery that actually fulfills the order. Any Food Business can create gift baskets, utilizing their wholesale purchasing power, as well as taking advantage of the off-time of restaurant staff and idle equipment.
NEW PRODUCT RELEASE: FooNow for Pizza (Slide Show tutorial - upon request)
Our 2nd generation, image-based Pizza Ordering system may rival Dominos & Papa John's systems. (The good news is that neither company will ever sell their systems as they will NEVER want other Pizza businesses using their proprietary system.). Our image-based systems incor
Any pizza combination can be created, ordered & saved (for future recall),
We've recently completed our "2nd generation, image-based" pizza ordering system and have been told by my several experts in the food business, that this new, exciting system may be easier to use than Dominos & Papa John's systems. This will give every small Pizza shop an edge on the competition.
Some of our features: (please see our Youtube video for Image-based Pizza Ordering)
1. Single screen ordering - very mobile-friendly. It's even fun to create a pizza.
2. Single click/touch for specialty/gourmet pizza ordering. Further customization of the pizza is possible.(This is almost always an upsell).
3. "Save your (live) favorite order(s). This makes reordering very easy (even multiple orders). This not only saves the consumer considerable time but also helps build customer retention.
In fact, the system actually encourages pizza making creativity, so that increased spending will occur!
The system is so easy to use that it will encourage more online buyers to not only use the system but to also select more ingredients, increasing profits in 2 ways.
NEW PRODUCT RELEASE: FooNow for Bakeries (& any business that utilizes cakes - see for our Slide Show tutorial) This system is also extremely easy to use & can increase profits 2-fold (as described above).
C.O.S. may be 1 of our key "niche" markets, as the system will be also marketed to all caterers, event planners, high end restaurants who hold banquets/parties/weddings. In addition most all bakeries sell either pizza or sandwiches in addition to cakes/pastries. (after all they are in the "dough" business). This will be an up-sell for us. If they don't sell these other products, we certainly give them the ways & means to do so. Here is the write up that will be used to market C.O.S.: (preliminary)
A complete cake order can be saved and recalled later which means a proposed order can be obtained and modified according to taste and budget. (Of course that same favorite cake can be reordered for future events). This allows not only the buyer at the remote end to begin placing an order, but also allows the bakery to use the system as a POS terminal to take down every detail clearly and concisely as opposed to the typical way of using a pencil and paper. Mistakes are costly and can result in the refusal of an expensive cake or item ..... Our Online Ordering system for Bakery products is easy, quick, and accurate. It will truly empower the Bakery by allowing a greater number of orders and so to retain and increase their customer base. Our Online wholesale add on is also available to support further expansion of the bakery operation. "Have your cake and order from your smartphone too!"
for more info -- call Steve Collette CEO
Business Plan Summary
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