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Onnow

Internet Restaurant Platform for 600,000 SME Restaurants

Bangladesh
Market: Internet and IT, Food industry
Stage of the project: Operating business

Date of last change: 25.11.2021
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Idea

An impact-driven internet restaurant platform that aims to help 600,000+ small and medium (SME) restaurants in Emerging Markets

Current Status

18 Oct 2020 - 02 Oct 2021

- Delivered 65,000+ Items across 15,000+ Orders
- Generated $80,000+ in Net Revenues

Market

End Consumer Segment: Technologically advanced male and female aged 22-45 (both student and working professionals) with a busy lifestyle, relatively well disposable income, and values convenience.

Market Size: $45B in Emerging Markets

Problem or Opportunity

Over 1 Million small and medium-sized restaurants, affecting 40M people working in this sector, in Emerging Markets are struggling to survive due to fierce competition from big restaurant chains.

Solution (product or service)

Solution: a tech-enabled and impact-driven internet restaurant platform that utilizes mobile and web platforms to help existing restaurants drive more revenues from the ‘cloud’ market.

Key Benefits to Aspiring Restaurant Partners:

No CapEx
Minimum Cost
Minimum Hassle

Competitors

Onnow mainly competes with traditional franchisors like BRAC Chicken or CP (Thailand) who do not have focus on driving impact and making technology accessible to SME restaurants.

Advantages or differentiators

Owing to our years of experience in each of these domains, we understand very well how to combine (1) technology, (2) food, (3) operations management and (4) digital marketing to bring synergy and solve the massive problem at hand.

Finance

B2B via Restaurant Partners. GMV Projected by 2024: $12.8M USD.
Estimate based on 477 Restaurant Partners with 92.49 USD (7,840 BDT) per day in GMV on average.



Business model

The SME Restaurant Partners (Primary Users) are required to buy all ingredients from Onnow which are prepared by the company from its Production Facilities. Even after buying all the supplies, the SME Restaurant Partners can make 30-35% profit (on cost). On top of it, they get free access to training, technology solution and Onnow's digital branding.

Money will be spent on

Increase Number of Restaurant Partners to 62
Technology Advancement
Expand Production Kitchen Facility
Build Logistics Support

Offer for investor

12% equity.
Post-money valuation of Onnow: $2M

Team or Management

Risks

Our business model heavily depends on the end-consumers’ buying behaviour in respect to how they place their orders online. A key assumption here is that, going forward, almost 50% orders will come through our D2C platform which will avoid us from paying the high commissions to food aggregators like Uber Eats or Foodpanda. If we are unable to achieve this, it will be difficult to survive in the long-run.

Incubation/Acceleration programs accomplishment

Impact Collective (Cohort 2)

Won the competition and other awards

Impact Collective (Cohort 2) - Top Finalist
Bangabandhu Innovation Award 2021: Top 09 Startup in Bangladesh
Asian Entrepreneurship Award 2021 Japan: Global Semi-Finalist
Food Frontiers 2021: Champion
BYLC Ventures (Cohort 3): Top 25 Startups
Unicorn Battle Southeast Asia: Top 10

Photos

Photo 1 - Internet Restaurant Platform for 600,000 SME Restaurants

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video