How can restaurants better monetise off-peak hours? What if a startup could help attract footfall during those times? Branding itself as the world’s first online yield management platform for the F&B industry, Eatigo connects diners with restaurants. The company focuses on offering discounts up to 50 per cent at various restaurants during off-peak hours to attract potential customers who would not necessarily come during that time.
The platform aggregates time-based dining discounts for restaurants every day, without the need for any coupons or credit card information. The user has to download the app or go to the website, pick a restaurant of choice, select the discount and the booking is done.
Launched in June 2014, eatigo has got over 28,000 Facebook likes, and it boasts a download count of over 25,000. The app has rocketed up the Thai iOS App Store, beating Foodpanda to the second place in the F&B category. This year, Cluzel has his sights firmly on expansion towards the Philippines and the rest of Asia.
Michael Cluzel, Group CEO, Eatigo said, “We have spent a lot of time looking at the social buying model, which is interesting, but on the other hand affects so many merchants. We wanted to support restaurants in a more sustainable way. This is when we hit on the nugget of information comparing utilisation of capacities between hotels, airlines and restaurants, and we decided to transfer the yield management logic to the F&B industry.”
“The journey has been strenuous, with a lot of expected and unexpected learnings on the way. We have pretty much achieved what we had planned, but we still have a long way to go,” Cluzel added.
The startup has been bootstrapped until now, but expects to close a Series A funding soon.
Some of the challenges faced by the startup include finding the right people, convincing partners and merchants to come aboard, balancing speed and organisation, finding the right UI and UX. However, Cluzel said, “You can forgive yourself and iron out almost any mistake but there is no excuse ever for not trying out what you believe in.”
This article first appeared on Echelon Thailand and was shared for use by Eatigo.
Michael Cluzel will be giving a presentation on E-commerce Business modelling at the 2016 E-Commerce Show Philippines, 6th to 7th September at the SMX Convention Centre. For more information on our speakers and how you could be a part of this exclusive event, click HERE.