We noticed during the lunch hour, many small businesses couldn't compete with the influx of people due to a lean workforce, lack of scalability of tech solutions, and lack of information to drive data driven decisions.
We conducted a market research survey of 55 persons via a Facebook link to our SurveyMonkey survey. Via an open-ended survey about why the participants would choose a large chain over a small biz, we found 5 common themes amongst their responses. Participants valued the large chains' "speed of service", "price", "consistency", and "familiarity". At the same time, participants valued small biz's "local community", "unique experience", "quality of service", and "quality of food".
The Center for Excellence in Global Food Service Information notes that of all restaurants, the small chain, quick service restaurant is disproportionally utilized in terms of profit in comparison to its market share.
("A majority of independent restaurants fall into the full service category. They represent almost 69% of all unique independent restaurants throughout the nation, with retail sales of over $189 billion annually, whereas limited service restaurants sales achieve $$52 billion per year." - See more at: http://www.chd-expert.com/resource-center/2013-overview-of-independent-restaurants-in-the-us#sthash.A1Vg6v1K.ABP6s5xq.dpuf).
Chicago-based market research firm, NPD Group, stated in 2010 92% of restaurant closures were independents. “Sinclair [of OnSite Consulting] says [this is due to the] majority of independents he consults feature poor management driving the business into the red. There’s a widespread lack of knowledge on quick-service economics, such as process streamlining, sales, and quality assurance.”
Due to small business constraints, we came up with kio- a kiosk, input, output tool that meets the needs of small biz customers and owners. The app allows customers to order on a tablet and complete their check out, kitchen staff to immediately claim and complete orders, and Smallbiz owners to monitor, analyze trends, and make decisions based upon the aggregated data or orders.
We believe our app will provide the tools and information for Independent Restaurants to compete with larger chains. It is an innovative solution that will greatly impact Smallbiz owner's ability to make better financial decisions, manage savings, manage cash flow, and engage with customers via instant customer feedback surveys. Our App will allow for quick, convenient, and easy ordering and checkout via in-store tablet-based kiosk app. It will quickly submit orders to the kitchen, monitors and records time or order to completion, and the data will be aggregated to a website for the analysis of the Small Biz Owner in order to make more informed, data-driven decisions to optimize their costs, revenue, profit, speed of service, and efficiency. Our app has already garnered the attention of a smallbiz owner who attended the conference and this shows on Day 1, we already have traction within the market. It is an app that improves the customer experience at small businesses, allows Smallbiz owners to make data driven decisions, monitor their business, and continuously improve their effectiveness in delivering upon the needs of their consumer.
Log in or sign up for Devpost to join the conversation.