- Funding / Finance
SATXEats is an online community with the sole purpose of shedding light on the hidden culinary gems of San Antonio. We believe in challenging the status quo when it comes to food reviews, not offering your typical "star-rating" system like most food blogs who get paid to write reviews. Instead, we’ll provide an unbiased perspective by receiving no monetary compensation for any of our creative content/reviews and our revenue will come through an annual membership where our members have exclusive access to discounts from partner restaurants.
Headquartered in San Antonio, Texas, SATXEats is owned and managed by majority shareholder, Ashley Lachterman and minority shareholders, Trinity students Joshua Lee, Gina Butala, Christian Morales, and Bob Le as well as non-Trinity shareholders Gera Villarreal and Danny Oh. SATXEats was founded in late December 2016 from Ashley’s constant frustration with not knowing where to eat in San Antonio. When her parents came to visit her at Trinity University and asked for a suggestion on where to eat, she had no idea how to answer. Being a student in a brand new city, her only solid opinions on restaurants were on either chain restaurants or the result of weak google searches for “food in San Antonio”.
Ashley is a Trinity University student majoring in Business Administration with a concentration in Marketing and minor in Human Communication. Before beginning her undergraduate career she resided in The Woodlands, Texas. With over three years of experience running her own fashion blog, thecoutureset.com, she is ready to continue building her online business career. She and her co-founders are ready to build a team of writers and other staff members who can offer other insights, expertise, and help to guide SATXEats in becoming a successful and profitable.
What We Do
We find local eateries who are under-marketed and are unable to access a platform to advertise their restaurants and specials. By creating a community in which various writers are able to share their honest, positive, and unbiased opinions about local restaurants we are able to build a trusting and lasting relationship between restaurant owners and their customers. We will also be offering an exclusive SATXEats membership where customers would pay a flat rate to become an annual member. Each member will receive their own personal QR code to scan at our partner restaurants for special discounts or exclusive deals only available to our members.
How We Do It Better
This is a relationship driven business. We will form strong relationships not only with the top local restaurants in San Antonio but also with our SATXEats membership holders. By providing a simple, easy-to-use platform that can be accessed by anyone anywhere, we want to simplify the restaurant search process for our content viewers. We strive to connect on a deeper level with our audience and give them content worth sharing with their friends and family. We will gain significant traction for brand awareness through our social media that allows us to bring customers to the restaurants.
We plan to have over 24 partnered restaurants by the end of 2017 and to start selling memberships as soon as the summer starts in May. Memberships are 100% profit, adding no financial limitations due to eliminating the burden of cost of goods for inventory. Memberships are a “win-win” situation for all parties involved. We gain 100% profits with each membership while our members will save money with their discounts by using our membership discounts. Our partner restaurants will receive more traffic and higher sales while having to pay no upfront cost for us to advertise or create content for them. With the discounts they offer, they can upsell their products to more customers. Where we see our company increasing value in the future is through data collection. With our memberships as well as our social media, website, and blog, all our visitor traffic, as well as our members' data, will be logged. Their habits and usage, along with their emails and demographics, can be mined and will become a highly valuable asset. This creates greater advertising revenue with more specific targeted ads which we would receive from our sponsors.