Financing: $1,400,000.00 Down and To Be Determined
Reason for Selling:Seeking an established professional sales team.
This business is a virtual, relocatable business which is a great software product ready to sell on a recurring revenue model. This is a cloud-based software product that is focused on providing any size restaurant or catering company the tools that they need to succeed.
This is a subscription based service setup as a recurring revenue model and is ready for a sales team to help it take off and grow! The product allows a business to signup and quickly create their own portal in the cloud system. The user can then login and create their menus and pricing and then integrate it within an existing business web site. Consumers can then order food for pickup, delivery, or even place future catering orders.
Example: Signup 50 new restaurants/caterers each month for one full year.
Residual: $79.99/month x 50 clients picked up each month for 12 months (600 clients/year)
Yearly: 600 clients x $79.99 = $47,994.00/month
Yearly Income Increase: $575,928.00/year
The above example is showing just $575,928.00/year from the recurring revenue portion and does not even include the per-transaction fee (convenience fee) that can be earned for every customer placing an online food order through the system.
Example: 600 clients x 10 orders/day x 365 days/year x $.20 per order convenience fee = $438,000.00
Yearly (assuming 365 days a year): $438,000.00/year for convenience fee charges
Aside from the above recurring and convenience fee income, additional income can be made by charging clients design and integration work to make the online ordering and/or catering portal match their existing restaurant/catering web site.
The software product has the following features: Online Ordering, Catering Event Tracking, Cycle Menu Creation, Store Locator System for franchise operations, Recipe Costing, Stock Costing, Contact Management, Newsletter Module, Google Calendar Sync, and Payment Module. It also has configurable alert settings to alert the business owner as new orders arrive into the system: SMS Text messages, Automated Voice Notifications, Email Alerts, Calendar Entries, Mobile Ordering. The system has multiple ways to make money such as a recurring monthly revenue model, setup fee(s), as well as a per-order fee such as $0.20 per order to generate a lot of income once many restaurants are using the system. The system integrates with Authorize.net for controlling business billing as well as PayPal so that consumers can pay for food orders with either a credit card or their PayPal account. The system is also integrated with the AppDirect marketplace to reach a larger audience and to allow for integration with 3rd party resellers. There are many configurable options for larger clients such as Site Setup for operations such as colleges and universities who are spread out geographically but want to be centrally controlled and have insight into the entire operation. The seller soft-launched the product and have customers already, but are looking for a company with a sales team to take over the operation.
The system is ready for pure-profit. Seller is currently renting cloud-hosted servers for roughly $280/month. Everything else is profit at the current time. However, this is a startup operation in the sense that seller has not spent a great deal of time promoting or selling it. However, seller has roughly 15 restaurants/caterers currently using the system.
There are only several other competitors that offer a cloud-based catering and online ordering system combined. Sellers system is unique however in the fact that it is also ideal for corporate catering such as colleges, universities that need Cycle Menus. The system is very flexible and can generally be tailored to suite most businesses. It is designed to be affordable for both small and large businesses alike so there is very little risk in trying out the system if you're a restaurant or caterer.
Growth & Expansion:
The sales price includes all source code, existing clients, domain names, as well as free support and training for 90 days.
The ideal buyer is an established software company looking to diversify, or a company looking to move into the cloud-based SAS market by quickly adding the product to their portfolio.
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