2. The Problem At Hand
FullPlate was born out of not so pleasant dining
experiences. Particularly ones in busy towns.
Restaurants frequently visited by regular locals,
tourists and 9-5’rs themselves. It is difficult to
gage how much you should tip your server, how to
approach your server about ways that they made
your dining experience great or even to give a
little criticism without making it awkward for
them. With Technology growing so fast and going
so far, why are we still behind on having good
information about our servers in restaurants?
3. The Solution
Improve client sales. Offering real time analytics for business owners will allow them to make more
educated decisions about their employees, managers and store front as a whole.
Drive Restaurant Innovation. Offering an innovative way to interact with your favorite restaurant
and servers give more control to the customers and ultimately the business by allowing them to
observe customer comments in real time, see nightly tipping averages and seeing real time
performance of servers.
Create Ease of Use. Simple to use features make it easier for customers to let the server know they
are doing well, showing average tipping to give the customer more insight on how to go about the
hardest part of the meal, tipping the server. It creates a deeper relationship between customer and
business.
Use Short Build-Test-Validate Learning Loops. Doing this will help the product pivot or persevere at
the right moments to provide the best experience for business owners and customers alike.
Simplicity. It allows us to save time on development by providing a streamlined, no-hassle feel to
enable all of our goals to function. Giving real time statistics on employees, customer happiness and
giving customers greater knowledge to enhance their dining experience.
4. Why People Need FullPlate
FullPlate is an unmet area of need for
restaurants. With the technology available,
people should be able to dine more
intelligently. Customers should have more
power to take control of their dining
experience; Offering recommendations for
business owners, giving them the ability to
enhance their service, try out new menus
and ultimately improve overall customer
satisfaction.
5. Projections
Independently Owned:
Number in the US in 2012: 339,770 stores
Cost Analysis for Independently Owned
Stores
Cost per Month
$69/Month
Potential Rev*: $2,344,413.00
Cost per Year:
$729/Year
Potential Rev*: $24,757,000.00
*Based on 10% of market utilizing and paying
for product
Chain Owned:
Number in the US in 2012: 276,238 stores
Cost Analysis for Chain Operated Stores
Cost per Month:
1-5 Stores: $74/month per store
6-10 Stores: $69/month per store
11-20 Stores: $64/month per store
21+ Stores: $59/month per store
Min Potential Rev*: $1,629,816.00 Max
Potential Rev*: $2,044,176.00
Cost Per Year
1-5 Stores: $780/ Year per Store
6-10 Stores: $729/ Year per Store
11-20 Stores: $675/ Year per Store
21+ Stores: $623/ Year per Store
Min Potential Rev*: $17,209,752.00 Max
Potential Rev*: $21,546,720.00
*Based on 10% of market utilizing and paying
for product
Individual Users:
Cost Analysis for an individual user
Expected US market size: 90 million to 110
million users
Cost per Month:
$6.99/ month per user
Max Potential Rev: $768,900,000.00
Cost per Year:
$60/ year per user
Max Potential Rev: $6,600,000,000.00
These projections do not include the
introduction of other services, fees,
increases in monthly membership, etc…
and are based around best possible market
conditions.
* Projections based off data from Smart Insights, npd.com and Statista.com
6. Cohort Analysis of Projections*
2016 2017 2018 2019 2020
Potential Conv. 2,500 7,500 21,875 62,500 175,781
Trial Users Expected ᶧ 10,000 25,000 62,500 156,250 390,625
New Visitors Expected 20000 50000 125000 312500 781250
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
PERCENTAGEOFALLVISITORS
YEAR OF OPERATION
Expected Visitors, Trial Users
and Paying Users (Commercial
Clients)
2015 2016 2017 2018 2019 2020
Potential Conv 2,813 12,656 50,625 189,844 683,438 2,392,031
Trial Users Expected ᶧᶧ 18,750 56,250 168,750 506,250 1,518,750 4,556,250
New Visitors Expected 25,000 75,000 225,000 675,000 2,025,000 6,075,000
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
PERCENTAGEOFALLVISITORS
YEAR OF OPERATION
Expected New, Trial and Conversion of
Users (Individual Clients)
New Visitors Expected Trial Users Expected ᶧᶧ Potential Conv
* Projections based off data from Smart Insights, npd.com and Statista.com
7. Expected Revenue and Growth*
$0.00
$50,000,000.00
$100,000,000.00
$150,000,000.00
$200,000,000.00
$250,000,000.00
2015 2016 2017 2018 2019 2020
Expected and Projected Growth
of Revenue (Commercial Clients)
Growth of Revenue Expected Revenue
$0.00
$50,000,000.00
$100,000,000.00
$150,000,000.00
$200,000,000.00
$250,000,000.00
2015 2016 2017 2018 2019
Expected and Projected Growth of
Revenue (Individual Clients)
Growth of Revenue Expected Revenue
Based on the graphs below, by 2020 Revenue is expected to be near $400 million.
* Projections based off data from Smart Insights, npd.com and Statista.com
8. Market Competition
In our current market, there is only one other mobile application that
has been successful at achieving part of our mission. This competition is
called Grate. Grate has been met with huge success even though it has
only scraped the surface on features and usability. Essentially creating a
private version of TripAdvisor or even Yelp!. FullPlate seeks to deepen
the connection between diners and their favorite establishments.
Allowing them to experience dining more intelligently, fluidly and
confidently with the information our App would provide. Tipping
Averages, Private messaging to servers/managers/store owners, public
commenting/rating of servers, tipping in-app, private and secret menus,
and more.
9. How we plan to achieve our goals
We plan to achieve our goals by working with BlueRocket Application
Development. We have spoken with their VP of Sales who has given us
confidence that working through their program, that we can build our
first MVP (Minimally Viable Product) within 12 weeks and for around
$110,000.00;
While working on our MVP, we plan on sitting down with restaurants and
establishments to work on integrating our product into their stores. By
doing this, we will be able to market our product on the Apple App
Store, while also reaching out to media establishments to promote our
product nationally.
Our planned launch will be in the Los Angeles and San Francisco areas,
two major population and culture centers.
10. Funding and Exit Strategy
To develop and launch our product, we will need to
secure an initial seed funding of $150,000.00 for the
development of our product. Upon Launch, we will begin
seeking larger rounds of funding ranging from $1 Million
to $15 Million, depending on needs for deployment of our
product in other culture centers and for International
deployment.
Our exit strategy would be to ultimately be to be
purchased by a larger company or to go public through or
parent company, PictaKerr, Inc.