Step 1: Establish an inherit partnership with a franchise group allowing the app to carry services into new demographic reaches with an alliance.
Step 2: Develop new markets, through research and development new markets will be identified for forecasted start up potential. Through my conversations one thing that I would consider adding is the ability to pay your bill from the application with your server at a dining establishment. This would allow the consumer and the wait staff to use mobile devices to complete transactions eliminating multiple computers for restaurants as well as a paperless option.
Step 3: The growth potential would be scalable through the use of social media platforms and behavioral buying algorithms. Technology is at a prime increase in today's economy, the potential is all about details, data and logistics.
What franchise group do you think you'll reach out to? Additionally, to collaborate more efficiently, do you think that you could work with the companies that already have a service such as "pay at the table" through those devices? I could see a partnership being valuable, especially if restaurants already have a contract with a similar pay at the table service.
ReplyDeleteIt is worth considering which markets you see potential in as of now as this will allow you to tailor your business to fit that vision. Many restaurants might find this technology useful but what about other sorts of businesses? It is worth noting that moving into other markets might not even be something you want to do due to the amount of competition that will present itself once you move into the new market.
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