In the US, customers often complain about poor customer service at restaurants. Restaurants, on the other hand, find it hard to retain loyal customers, scale their business and increase their revenue. According to restaurant and food marketing research, loyal repeat customers of a restaurant account for at least 33 percent of the total revenue. Lunchmoney.ico while they may only account for as low as 15 percent of the total customer base.With so many emerging and existing restaurant options in the market, customers have developed very little tolerance for the compromised service quality at restaurants. Their most common and crucial complaints include poor food quality poor customer service, finite menus, lack of healthy options, lack of hygiene, inconsistency in quality, lack of loyalty incentives and negative feedback from other restaurant visitors.Enter Restaurant P.I., it is an on-demand secret shopper (mystery shopper) service for restaurant and bar businesses. Restaurant owners can post exclusive deals and discounts on the Restaurant P.I. platform.
These deals can be exchanged by customers for secretive and anonymous visits. Next, the customer will be able to submit valuable feedback via the app on their experience. Lunchmoney.ico Once feedback by the customer is approved, he/she is awarded a coupon that can be redeemed during the next visit to the restaurant. According to a Harvard study, by just increasing the repeat customer rate by as low as 5 percent, the restaurant can increase their potential profits by 25-125 percent. Hence, Restaurant P.I.’s concept aims at improving the value delivery from food serving businesses to the customer.Thus satisfying them with the best possible standards simultaneously.Owners can boost their businesses by improving customer service per the feedback, gain positive recognition and retain loyal customers.
Token Basic Information
|For Adjustable Emission||All unsold tokens will be used for our token incentive program as earned rewards|
|Token Type||ERC20 Utility Token|
|Secure way to purchase tokens||Ethereum|
|Whitepaper||Click Here For View Whitepaper|
|Website||Click Here For Visit ICO Homepage|
Problem & the solution
Problems and customer challenges in the existing restaurant market Since the success of a restaurant business in the US depends upon the customer satisfaction level, understanding the problems that the customers face regularly will help the businesses improve gradually.Lunchmoney Following are some crucial problems and challenges that the restaurants need to improve upon.
● Poor food quality: Customers demand quality in every item that a restaurant serves The items should be prepared in hygienic conditions, must be sumptuous and freshly served. If the order is poorly prepared, takes too long to be served or arrives cold, the restaurant is already losing the customer.
● Poor customer service: This is one leading reason as to why customers never return again to a particular restaurant. The pointers include long waiting time for a customer, negative behavior by the staff, not fulfilling specific demands, and lack of welcoming treatment by the staff.
● Limited menu: Customers are growing more and more health conscious and want more options on the menu.For example, gluten-free and organic dishes are high in demand and restaurants need to adopt healthy options accordingly.
● Lack of cleanliness: This is another crucial insight that many restaurant owners might overlook.Hygiene and cleanliness should be the top-most priority for any food vending business. Lunchmoney from cutlery to washrooms, cleanliness must be maintained at all costs.
How Does it work?
Restaurant P.I. is a platform that serves as a portal between local restaurant owners and customers around them.Blockchain technology ensures transparency and trust in the businesses and customer relationship.
Exclusive deals and discounts are exchanged for anonymous visits and feedback on the customer experience. Patrons remain anonymous while dining at various participating restaurants. After submitting feedback, the customers are rewarded with a deal coupon that can be used in the next visit.Lunchmoney.io tokens are used as earned incentives for completing secret shops and repeat visits.
Market & Industry
As of October 2017, the restaurant industry in the US has been valued at US$ 245 Billion, with a total of 294,633 businesses already in place. Lunchmoney the annual growth rate of this industry has been 3.1 percent monitored during 2012-17 and it employs Approximately 4.5 million people in the USA.Following is a list of restaurant industry threats and opportunities that will justify the creation of Restaurant P.I. Platform for the stated reasons.
● Customers continue to seek healthy meal options within an array of menu items. Restaurant owners need to rapidly adapt to the changing demands to flourish in this industry.
● Customer retention and loyalty is another crucial factor when it comes to the success of a restaurant. Increasing the repeat rate and a number of loyal customers is necessary for expanding the business.
● International expansion is essential on the pages of a long-term strategy for a restaurant.
● The strong price-based competition will emphasize the restaurants to deliver higher-quality at reduced prices for the customers.
● New businesses struggle to gain customers their first few years. Having access to the Restaurant P.I. the app will help new food businesses gain customers at an accelerated pace
|Members|| Adrian Triplett|
COO Restaurant P.I. Inc CO-Founder Of Lunch Money
Founder Of Restaurant P.I. Inc Co-Founder of Lunch Mone
Chief Strategic Officer/ Global development
Social Media Managrer
General Counsel/Securities Counsel
Abdullah Al Mamun
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