India’s Food & Beverages sector is an unorganized and chaotic USD 50 billion industries with an incredibly low spend of 5% of top line revenue on technology. It is an extremely competitive space, with several players catering to different ends of the market, and relying on technology sporadically. Between large e-commerce players and online platforms promoting unfair competition and damaging the brand of restaurateurs and easily distracted customers, managing operations becomes incredibly complex. And, to solve this issue for restaurant owners and managers to balance supplies, inventory, order curation, order communication, order fulfillment, payment systems, and customer satisfaction, Uplodefoodies are bridging this gap in the market. Excerpts from the interview:
What was the whole idea coming up with Uplodefoodie?
At Uplodefoodie we realized that there is a gap in the food and beverages space about how food and beverages expense is managed and there is lots of chaos on the large extent. Though there are technology players who are trying to solve some problems but there is still a void gap which we decided to fill where we can transform their unorganized operation in a very organized manner so that they can increase the number of footfall and meanwhile increase the revenue.
How much have you invested in coming up with this concept?
We have been investing in this project from last three years. We have developed a 360 solution and a have a very big team working on it and that’s the effort and the amount that we have invested in developing this product. It is around 20 per cent of what technology guys invest into building a technology altogether.
What were the challenges you faced while growing this business?
The initial challenge started when we started going out and discussing the same with the restaurant owners. It took around 11-12 months to make the product more mature and suitable to the industry. That’s when we started going out and talking to different restaurant owners and managers so that we can built more powerful product at the same time as we are a software company and have lots of experience into the technology building. It also so helped us to create crisp and value added solution. For eg: we have an automated engine and what it does is that there is no need to carry a card, however the system counts and tacks it and it calculates the ratio of the customer coming at the restaurant. Then we have the dynamic advertisements program to name a few.
Is there a revenue sharing with Restaurant?
Yes we have a revenue sharing model with the restaurant. We also charge small token amount when a restaurant is on boarding us for the first time and we put little charge on the advertisements.
Are you also partnering with brands like CCD and Starbucks to name a few?
For brands like CCD, Starbucks and McDonald’s they already have an organized culture wherein they organize things. We want to partner with small restaurants that don’t have an access to the technology.
How these technology companies are contributing to start-up world?
Whatever data the technology company is providing to the startups are actually helping them to come up with better understanding of their businesses and helping the enterprises to grow better.
What is your plan expanding Uplodefoodie?
We want to cover Pan India. In parallel we have done the same marketing in the US, Singapore, Australia and Dubai and we have got very good response on the same and we can very soon expand to these countries.