- Faasos
- FreshMenu
- Restaurant Furniture Company
- MagicPin
- StayZilla
5 Hospitality, Food and Commercial Business Start-ups
The hospitality industry has taken a tremendous beating through 2020, perhaps only a handful of industries were so affected by what resulted in one of the greatest economic recessions of our time.
Still, a few bright minds, some armed with funding from deep pockets & others armed with grit and determination to solve problems in the industry irrespective of whether it is a commercial dining business or a lodging startup company, we gather this list of promising and emerging startups that can change the future of the hospitality industry for the better.
1. FAASOS
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Even the fittest & most health conscious among crave a late-night indulgence, Faasos, along with its superapp and strategic tie-ups with food aggregators like Zomato & Swiggy and also by luring users into its own “digital-restaurant” has seen a massive surge in orders & has also continuously expanded thanks to its investment rounds like the latest one from Coatue Management which saw Faasos raised a total of $26.499 Mn (INR 198 Cr) at an eye-popping valuation of close to $1 Billion… for a company that sells rolls & biryanis!
Website: https://www.faasos.com/
2. FRESH MENU
With most food delivery Startups focusing either on a completely cloud kitchen/home-cooked model OR an aggregator model that lists a number of other restaurants, Freshmenu stands out. The company has been making the rounds for a strange business model that also does work.
The company has quickly expanded across multiple countries and is closer to the cloud kitchen model, however, it also operates multiple mini qsr restaurants, but most of them don’t offer much (if anything at all) in the way of dining a large footfall.
FreshMenu’s focus on quality shows in the reviews given by customer and its unique selling point is its emphasis on healthy, vegetarian options.
Visit Website: https://www.freshmenu.com/
3. RESTAURANT FURNITURE COMPANY
Possibly the least tech-oriented startup listed here. Restaurant Furniture Company deals with a product & a service that is quite traditional, Furniture! Specifically, furniture for dining businesses like restaurants, cafes, bistros & hotels.
The company has a very small digital presence and is the newest among this lot. It frequents turnkey projects for large restaurants, installation projects for medium sized ones and also does simply delivery of bulk furniture for smaller restaurants, outdoor cafes & mini bistros.
Traditionally, restaurateurs would have to resort to a local carpenter or a local supplier. But with the emergence of advanced transportation, high-quality furniture made available directly from manufacturer & an online ecosystem that allows a restaurant owner to directly get in touch with the manufacturer for furniture, The Restaurant Furniture company has been growing at a steady pace.
Website: https://restaurantfurniture.co.in/
4. MagicPin
Although Magic Pin is not solely dedicated to restaurants or the hospitality. Restaurant coupons, restaurant aggregation, discovery & promotion along with food service-related coupons are some of its biggest businesses and growth drivers also.
It is also the most marketing-focused business from this list. The business helps merchants, restaurants & cafes repeat their businesses & footfall and also acts like a discovery platform for restaurants to list and market themselves.
Its niche lies in a set of audience that loves to go out and understand the experience of any restaurant, service or experience thoroughly through both first hand reviews and also through visuals like pictures, videos and so on.
Visit Website: https://magicpin.in/
5. Bingage
Bingage is a restaurant and hotel CRM software startup started by Gaurav Padiyar. The company has been in existence since 2016 & had calibrated its own business model multiple times to ensure that it stays afloat.
However, the company seems to have struck gold with its promising business model that proved to be among the most resilient when compared to the others in this list. The company undertakes tailored retention campaign that encourages repeat visits for large hotels & restaurants. All of this with a small team of only 10 employees makes this a truly unique achievement!
Visit Website: https://bingage.com/
Conclusion
While the pandemic would certainly have taken a toll on the bread & butter of several businesses, the entrepreneurial & novel problem-solving skills by many of today’s entrepreneurs will certainly have a positive impact on the future of the hospitality & dining businesses industry in India.
