Independent Restaurants Rely Heavily on Foot Traffic: How Owner.com Is Revolutionizing the Industry
The Rise of Online Presence for Independent Restaurants
In the past, independent restaurant owners relied heavily on foot traffic to attract customers. However, with the global pandemic in 2020, this traditional approach no longer worked. Restaurants had to quickly adapt and find new ways to reach their target audience online.
The Need for Digital Transformation
Adam Guild, co-founder of Owner.com, was inspired by his mother’s struggles to attract customers to her dog grooming business. Recognizing the need for digital transformation in the restaurant industry, Guild teamed up with Dean Bloembergen to create a platform that would help independent restaurants better manage their online presence.
"People are hurting worse than ever in the restaurant industry because the inflation has created rising labor costs and rising food costs," Guild told TechCrunch. "It’s compressing the already low profit margins of these restaurant owners, so it is more important to them than ever to figure out ways to increase sales and save money."
Introducing Owner.com: An All-in-One Platform for Restaurants
Owner.com offers a comprehensive platform that includes online ordering, website builder, customer relationship management tools, marketing automation, and a branded mobile app generator. This all-in-one solution enables restaurants to manage their digital presence more efficiently.
The Potential of the Restaurant Industry
According to the National Restaurant Association, restaurant sales are poised to reach $997 billion in 2023. This presents significant opportunities for companies like Owner.com to help independent restaurants thrive in a rapidly changing market.
"There’s also room for other startups to leverage technology with tools focused on mom-and-pop restaurants,"** Guild said. "Last year, Superorderraised $10 million to help restaurants with their online presence, and there are dozens of companies with operations tools to manage both the front and back of the house."
Differentiation through Artificial Intelligence
To differentiate itself from competitors, Owner.com recently incorporated artificial intelligence (AI) into its platform. This includes an AI-powered email marketer that enables restaurant owners to create personalized emails in just a few clicks.
"Restaurant owners can start typing in a sentence of what they want the email to say or do," Guild explained. "For example, ‘Tell my customers about my new yellow curry,’ and the AI will produce an email for them designed in their style, written in their tone and ready to go out to customers."
Rapid Growth and Funding
Since its inception, Owner.com has experienced rapid growth. The company has thousands of customers and processes hundreds of millions of dollars annually. With the latest funding round, Owner.com has raised $33 million in Series B funding on a $200 million post-money valuation.
Investing in Engineering Teams
The funds will be used to continue investing in engineering teams and design teams to cater to the needs of independent restaurant owners. Guild expressed his commitment to helping these small business owners thrive in a rapidly changing market.
"Even just five years ago, it used to be enough to provide great food and service," Guild said. "But now, restaurants need to have a strong online presence to attract customers."
Conclusion
Owner.com is revolutionizing the way independent restaurants manage their digital presence. By providing an all-in-one platform that incorporates AI-powered tools, Owner.com is empowering small business owners to compete with larger chains.
As the restaurant industry continues to evolve, it’s clear that companies like Owner.com will play a crucial role in helping independent restaurants thrive in a rapidly changing market.
