I'm making a food delivery company that advertises the restaurant's products. This has been done many times over with different companies throughout the years (grubhub, doorstep delivery, eat24, etc.) the majority of them are making million's per year and it seems like it would be a home run. What we've done differently is that we have been able to market the restaurant's with full picture menu's, video and banner ads across our website and various forms of social media. Even though we don't have much traction yet would this be justifiable enough to investors to pitch the idea.
I am not sure if your current differentiation from the other existing players is enough to set you apart. If you believe there continues to be a huge supply-demand gap, then even if you were offering the same service, execution can become the differentiator in getting a piece of the market. For example, guaranteed, faster delivery time than the others, wider range of restaurants, etc.However, if the landscape is too crowded, then identifying the one or two key gaps or needs, (product-market fit) in the existing solution providers and positioning your company as the one that addresses them may be a better approach. For example, there are many such well funded food delivery companies, here in Bangalore. One of them, also well funded and doing really well, set themselves apart, by moving away from restaurants and offering a daily-changing "fresh, healthy menu" of "home-cooked" food, with nice pictures and descriptions, backed by an excellent delivery service (execution).
I am a serial entrepreneur, currently advising multiple startups and will be happy to chat with you.
Answered 9 years ago
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