Byte Right | Application Preview
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General Information
Business Registration Number: 92-0280712
Location: Phoenix, AZ, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: YES
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Funding Usage
This Funding would be used for building out marketing material, and promotional items to gain users from both direct to consumer and local restaurants. It will also be dedicated to collecting feedback from users and restaurants to improve accuracy and user experience. and Lastly would be used to jumpstart 2nd version of APP after collecting feedback to go towards Research and development and the actual Building of the app.
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Business Plan
February 17th 2023 the App officially launches- the plan in year one is to build attention - current target is 60,000 users. Plan to get there leveraging local partnerships with restaurants / affiliates that are in front of the most restaurant goers and restaurant business owners. We will also be leveraging social media channel of our own to brand build/ create attention. Once we get to 60,000$ users we will narrow our best restaurant partners and Sell back partnership information and tailored business plan to the restaurant to better their profits and demographic of customer coming through the door by creating visibility. this Membership will be revisited once a quarter with a quarterly report and future plan. We will also market level of advertising directly on the App to have their brand built in the consumers eyes. 3-5 Years we will have partnerships around the state and will be looking to scale with bigger accounts- and eventually after having a big enough user base and brand plan to partner with other tech/ food brands. I have entrepreneurship in my blood and truly feel it's my calling. Background on me I Graduated From Central Michigan University in 2012- i've been a Loan Officer With Rocket Mortgage for the last 10 years, this role has prepared me to how to run a business. My Role with the company is different than a standard loan officer, my primary responsibility is to Drive referral business, i finished 2022 as the #1 Grossing Loan officer in this Division- 2014 and 2018 i was awarded Most Valuable Loan officer as well a company wide award. I know how to leverage personal sphere, social media, direct to consumer marketing, affiliates, and past clients to drive business through the front door and have great instincts how to iterate and improve a product. the App development on this project started in 04/22/2022-- Intangible media LLC has been completing the app along the way we have utilized technology from Lazarus LLC for the Scanning to Text technology + Chat GPT AI for the understanding of the text to Algorithm. This is a project that will take time to build, but has home run opportunity and the pie in the sky vision is to eventually get in front of the likes of uber eats, post mates, and other ordering services to help narrow down restaurant and food decisions for their users.
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Self Identified Competition
Yelp would be Competitor #1 -- they capture the same user base and provide reviews on food / menu items Competitor #2 would be Foodco-- which is food cost software that accounts for ordering and selling so you know your numbers when ordering as a restaurant Competitor #3- would be Harbortouch which is POS software (point of sale system) that gives information on cash flow of the resturant and keeps track of sales metrics. Byte Right -- provides unbiased information on food ordering supported by AI technology and a personal algorithm. With Yelp a there is a list of positive and negative reviews per restaurant on certain menu items or the experience as a whole based off another persons experience/ preference. we are all different and gravitate towards different things so this can lead to a poor food experience. For restaurant owners Yelp can be very frustrating because ANYONE can leave a negative review and that stays up there for a long period of time and can impact the business negatively. Also to be seen you have to pay a lot to Yelp on a monthly basis. For Foodco and Harbortouch these would be used by the restaurant not the consumer. the biggest differentiator with Byte Right compared to these is it is a fully comprehensive report of Menu Items to help with Food ordering AND demographic information on who is visiting the restaurant and when. this will allow restaurant to identify opportunities in the menu, the customers they are missing out on, the food ordering, and overall strategy.
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