Another
week another 75 Million of ‘Smart Money’
targeting the hearts and minds of consumers leaving restaurants looking for
cash that once would have gone to them. The era of boomer restaurant CEO’s
building, leading, or turning around chain restaurants is rapidly coming to an
end.
Today
all the attention is focused at Foodtrepreneurs. These Foodtrepreneurs are in
their early 20’s and 30’s leveraging technology to simplify the process of
buying, getting, and eating fresh prepared Ready-2-Eat or Heat-N-Eat fresh
food.
This week again New York
City-based meal-kit delivery startup Plated raising $15 million in a Series A round. There was also a big $60 million round for FoodPanda,
an online-based food delivery service that operates in 40 countries.
Foodservice Solutions® Grocerant
Guru™ Steven Johnson
stated “Todays Foodtrepreneurs are thinking big while maximizing operational
efficiencies and technological advances.
That is the new recipe for evolving success and attracting funding in
the retail food space today.”
This week’s round of CASH is
being injected into what’s becoming a very competitive food delivery space
and comes just one week after Square purchased San Francisco-based food delivery startup
Caviar for $90
million. That’s 165 Million in this space in two weeks. Are you taking notice?
Smart phones are driving the
rapid evolution within the retail food space and it seems as if everyone is
targeting the lethargic legacy chain restaurant sector hell bent on opening,
running, and marketing restaurants today the same way they did 40 years
ago. Yes, brand protectionism is alive
in that one sector but for how long? Consumers and the industry are adopting to
new avenues of distribution and customer relevant messaging.
When Scott Stanford, whose Sherpa Ventures firm led a $28 million Series B round in Munchery, told Taylor Soper “That with
the amount of people eating every day, and the new demand for having items
arrive at your door within minutes, there is room for
many entrepreneurs coming up with new ways to get grub to your door.
Stanford added that he has
“tremendous confidence” in Munchery’s business model, and predicted
that there could be even more similar companies with how big the
addressable food market is.” Clearly
Sanford was, and is correct.
While boomer CEO’s all used the
same text book to build, lead, or turn around chain restaurants today a new
chapter in food retailing is being written.
The youthful Foodtrepreneurs are not all the same. In fact
ten or more are coming at the food space it
from a completely different angles. Each sees the opportunity differently and
each seemingly addressing obvious weakness of each chain or day-part. These
Foodtrepreneurs are bold, bright and right is ‘smart money’ is the judge.
Outside Eye’s can help you.
For international corporate
presentations, educational forums, or keynotes contact: Steve@FoodserviceSolutions.us
Grocerant Guru at Tacoma, WA based Foodservice Solutions. His extensive experience as a multi-unit
restaurant operator, consultant, brand / product positioning expert and public
speaking will leave success clues for all. www.FoodserviceSolutions.us
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