FAST TABGET IN, GET FED, GET OUT

TOTAL NUMBER OF INTERVIEWS: 123INTERVIEWS OVER THE PAST 24 HOURS: 11

TOTAL NUMBER OF RESTAURANT MANAGER INTERVIEWS: 7

TOTAL NUMBER OF CONSUMER INTERVIEWS: 116

WHAT WE THOUGHT…

Partners

Restaurants Corporate Private

Events Departments Open Table API Yelp/Eater Payment processor

Strategic Partners Uber/lyft/via Advertising parallels Hotels/convention

centers

Value Proposition

Customer Time/Access Atmosphere/Social Quality meal

Operator Access to new

customers Turn time (primary gain) Free promotion Relationship building

with private event clients

Corporate Alternative to the

catered conference room lunch

Networking lunches

Customer Segmentation

Corporate Alternative to the

catered conference room lunch

Structured networking lunches

Consumer Young professional

working in finance, Consulting, marketing, law, etc.

Restaurants

Activities

Open Table and seamless web functionality

Order and ‘fire’ confirmation

Customer service relations

Resources

Customer/Restaurant Database

Consumer Digital Interface with a 2 hour lead time booking

Operator Digital Interface

IT/Administrative/customer service staff

Customer Relationships

Reliability- punctuality, accuracy, quality

Ease of use Diverse options Exemplary

customer service

Channels

Private event bookers

Organic growth App Store Social media Restaurants

Costs

Development of Customer and Operator Digital Interface Servers and Code maintenance IT/Administrative/customer service employees Marketing (bad experience coverage; promotional; affiliate

customer generation)

Revenue

Percentage of order placed- under/around 15 % Monthly fee for access to platform (levied on restaurants) Advertising on site

BUSINESS MODEL CANVAS DAY 1:

WHAT WE FOUND OUT!

THE DISCOVERY: RESTAURANTS1. Two distinct segments:•High-volume•High-end

2. Access to new customer pool > reduced turn time

3. Implementing the logistics not an issue

4. 10% commission revenue model

Partners

Restaurants Corporate Private

Events Departments Open Table API Yelp/Eater Payment processor

Strategic Partners Uber/lyft/via Advertising parallels Hotels/convention

centers

Value Proposition

Customer Time/Access Atmosphere/Social Alternative to fast-casual Quality meal

Operator Access to new

customers Turn Time (primary gain) Free Promotion Interpretation error

reduced Relationship building

with private event clients

Corporate Alternative to the

catered conference room lunch

Networking lunches

Customer Segmentation

Corporate Event planner

Consumer Young professional

working in finance, Consulting, marketing, law, etc.

High-end Restaurants Midtown,

$25-35/meal

High Volume Restaurants ~$15-25/meal

Activities

Open Table and seamless web functionality

Order and ‘fire’ confirmation

Customer service relations

Resources

Customer/Restaurant Database

Consumer Digital Interface with a 2 hour lead time booking

Operator Digital Interface

IT/Administrative/customer service staff

Customer Relationships

Reliability- punctuality, accuracy, quality

Ease of use Diverse options Exemplary

customer service

Channels

Multichannel notification within the restaurant

Private event bookers

Organic growth (invitation)

App Store Social media Restaurants

Costs

Development of Customer and Operator Digital Interface Servers and Code maintenance IT/Administrative/customer service employees Marketing (bad experience coverage; promotional; affiliate

customer generation)

Revenue

Percentage of order placed under/around 10 % Monthly fee for access to platform (levied on restaurants) Advertising on site

BUSINESS MODEL CANVAS DAY 2:

DATA ANALYSIS RESULTS:

Most insightful results:• 81% of respondents are in Finance, Consulting,

Law, Marketing

• 65% of respondents work in Finance

• 92% are time or cuisine driven. • Price insensitive• They have lunch out of their office on

average 4.03 times a week, and twice with coworkers or friends

• They would use Fast Tab 1.36 times per week

105 data points, collected in midtown fast-casual restaurants between 11:30am and 01:00pm

Social Consumer

20-30 years old

Works in Finance

Willing to spend $30

Looking for a a more social alternative

Professional Consumer

25-40 years old

Slightly more senior

Most concerned with time and quality

EXPENSED the meal to corporation

Customer Archetypes:

HIGH END RESTAURANT

WANTS PROVIDESNew customer

poolHigh quality

food

Business professional

Exceptional atmosphere and services

Next generation

regulars

LIMITED time commitment

WANTS PROVIDESHigher quality

food / Atmosphere

High LTV

OWNERSHIPover time

commitment

Added Revenue$FAST TAB

PRODUCT-MARKET FIT

CONSUMER POOL

Partners

Restaurants Corporate Private

Events Departments Open Table API Yelp/Eater Payment processor

Strategic Partners Uber/lyft/via Advertising parallels Hotels/convention

centers

Value Proposition

Customer Time/Access Atmosphere/Social Alternative to fast-casual Quality meal

Operator Access to new

customers Turn Time (primary gain) Free Promotion Interpretation error

reduced Relationship building

with private event clients

Corporate Alternative to the

catered conference room lunch

Networking lunches

Customer Segmentation

Corporate Event planner

Social Consumer Young professional

working in finance, Consulting, marketing, law, etc

Price insensitive Wants more social

alternatives .

Professional Consumer Slightly more senior

and high end driven Wants to facilitate

Client lunches but are time driven

High-end Restaurants Midtown, $25-35/meal

High Volume Restaurants ~$15-25/meal,

midtown, crowded

Activities

Open Table and seamless web functionality

Order and ‘fire’ confirmation

Customer service relations

Resources

Customer/Restaurant Database

Consumer Digital Interface with a 2 hour lead time booking

Operator Digital Interface

IT/Administrative/customer service staff

Customer Relationships

Reliability- punctuality, accuracy, quality

Ease of use Diverse options Exemplary

customer service

Channels

Multichannel notification within the restaurant

Private event bookers

Organic growth (invitation)

App Store Social media Restaurants

Costs

Development of Customer and Operator Digital Interface Servers and Code maintenance IT/Administrative/customer service employees Marketing (bad experience coverage; promotional; affiliate

customer generation)

Revenue

Percentage of order placed under/around 10 % Monthly fee for access to platform (levied on restaurants) Advertising on site

BUSINESS MODEL CANVAS DAY 3-4:

WHAT’S NEXT?

TARGET MARKET:

High-end Restaurants

Major BanksMajor Law FirmsMajor Advertisement FirmsRESTAURANT NETWORK

Top 30 restaurants in Manhattan have a total revenue of $526 Million

ALPHA TESTING:MVP

AND THEN…

APPENDIXCHANNEL, GET STRATEGY, REVENUE MODEL, PETAL DIAGRAM, MARKET SIZING, ETC.

CHANNEL & REVENUE MODEL

Customer• Books Table (through Fast Tab, Open table API, etc.)• Specifies time• Specifies food selection

Fast Tab • Receives payment• Notifies operator

Operator • Transmits information (time & food selection) to the kitchen

• Fire order at the right time ahead of customer’s arrival

Customer • Arrives, sits, eats and leaves

Fast Tab• Transfer payment to operator (End of each month)

Operator • Pay ~10%fees to Fast Tab

Booking confirmation

Virtual

Physical

GET STRATEGY• In-bed “filter” with yelp & OpenTable search (E.g. Fast Tab available)• Organic Expansion Strategy: Word of mouth (E.g. Coworkers, friends)• Restaurant’s advertisement (E.g. Fast Tab Reserve Sign)• Corporate Partnership (E.g. Client lunch)

PETAL DIAGRAM:

FOOD DELIVERY

CATERING SERVICES

PAYMENT GATEWAY

RESERVATION SERVICES

FOOD REVIEWING

POINT OF SALE

FAST TAB

MARKET SIZING

TAM

TSM

TARGET MARKET

• New York State• Total Restaurant

industry revenue: $33.2 Billion

• New York City• Total revenue of the

restaurant industry: $9 Billion

• Top 30 restaurants in Manhattan

• Total revenue: $526 Million

PENETRATION RATE (E.G. ~20%) X TARGET MKT X FEES (~10%) = $10M