Getmymeal to Offer Catering Solutions to Corporates
Arranging parties and buffets for corporate personnel and corporate guests can be a nightmare for HR teams. With high pressure jobs and company personnel having ever growing taste pallets, arranging buffets and parties has become a very demanding endeavor. Catering to this highly unorganized sector is where the idea of Getmymeal.in stems from.
Drawing an analogy with Redbus.in where it helps monetize the spare capacities of the bus operators; Getmymeal works with kitchens and helps to monetize a kitchen’s spare capacity, in terms of quantity and variety.
Getmymeal offers complete party solutions for corporate clients in groups of 25 to 400.
Founded by Tenzin Thargay, Poonam Kanwal and Vivek Jha, the core team has an appetizing blend for any company in the food industry. Tenzin, an engineer from NIT Calicut and an MBA from IIM Bangalore has more than 8 years of experience with the likes of SBICAPS and Rediff. Poonam is a graduate in Hotel management and Catering and an MBA with 14+ years of work ex while Vivek, a Purdue graduate in Computer engineering has over 7+years of work experience in system design and architecture and was involved in a SAAS based restaurant yield management startup in America.
The team has already received first round funding and is currently in talks for second round funding to take them from the startup stage into growth stage.
The kitchens Getmymeal has tied up with are institutional kitchens - These are certified kitchens and serve to buyers like Airlines, retail chains like CCD, Barista and Corporate customers.
“These are run by professional management and all of them have top quality chefs, designing & running the meals in their Kitchens. GetMyMeal raises the quality standards with random checks thus ensuring sustained quality.” says Tenzin.
Logistics & Support Services
We handle our own logistics, delivery food, crockery, cutlery, serving personal etc., for corporate events
Revenue Model
A transaction based model, Getmymeal earns during each transaction although in a year’s time they expect an advert generated income from the website. Working on a negative working capital which is usual in the food industry, it is also a showcase of efficiency and strategic thinking.
“We have a markup on the prices after considering the food price, delivery charges and customer acquisition charge.” says Tenzin. They plan to do 15 parties per day by Mar 2013 and the projections paint a rosy picture-
- 15 parties/ day @ 40 people per party @ Rs 400/- per head billing resulting in Rs 8.6 Cr annualized billing.
Roadblocks and the path beyond them
Over the eight months, we have resolved our logistics, customer relationship issues and as well as gained considerable knowledge in sourcing kitchens. The challenge now lies in hiring the right people to take the business into other cities based on our expansion plans.
In a similar space, TravelKhana is doing some great stuff as well.
