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    Date submitted
  • 10-Feb-2017

SATXEats

Abstract

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.

Financial Highlights

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.

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Additional Questions

Who is your customer?

San Antonio Residents and visitors. Social media users (18 years+).

What problem does this idea/product solve or what market need does it serve?

There are too many hidden gems (unknown local restaurants) that have no platform to advertise on and their specials get no distribution. Content creation is hard and unavailable for our local restaurants and there is no local source for honest/unbiased restaurant reviews in San Antonio.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

Not only will we be keeping our reviews unbiased by having no monetary compensation for creating content, we will also establish a paid discount membership program for our customers. Our discount membership program not only offers the best discounts, but is the only way to get access to these exclusive deals at the best restaurants across the city. We will then be able to provide customer data to our partner restaurants while driving business their way; fostering a relationship not only between SATXEats and the owners of the establishments but also relationships among customers and our content viewers.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

There is no platform like ours in San Antonio. Maintaining an unbiased viewpoint and not using the "star rating system" like many other food blogs out there will bring business to the restaurants, never driving customers away. We want to make the restaurant search process easier and simpler for the people of San Antonio.