The me&u app lets customers view menus and order and pay for meals by way of their telephone as an alternative of putting orders to attend employees. It additionally removes the necessity for invoice splitting on the finish of the night time, as diners can order and pay individually inside the app.
It’s an idea he hopes to pitch to eating places globally as a option to increase margins by eradicating the necessity for a number of employees to need to deal with funds.
“I knew [the hospitality industry] was on its knees and I knew it needed something,” Premutico says.
On the investor aspect, the corporate has gone for giant names first and drawn on the experience of those that have been concerned with Dimmi in its earliest days.
Ahead of its launch, me&u has raised $three.four million from buyers together with superstar chef Neil Perry, former Facebook Australia managing director Will Easton and former LinkedIn APAC head Cliff Rosenberg.
Premutico says this time round, he’s acutely aware of surrounding himself with a robust board and investor workforce that may convey a global focus.
I don’t assume we made the dent within the business that we got down to [with Dimmi]
“I think what has changed is that I’ve realised here that I want the best people from the beginning,” he says.
App ordering growth
The launch of me&u comes as app-based ordering takes off throughout the globe.
The mannequin, which is especially in style in mainland China, has additionally made its means down beneath with the likes of Alipay bringing live translating menu apps to vendors across Australia.
Meanwhile meals supply apps are more and more targeted on lower-value transactions, with Deliveroo the first platform in Australia offer a subscription offer to cater for patrons who’re comfortable to get a juice or icecream delivered.
When it involves success for me&u, Premutico says the thought will stay and die by the community of eating places and the execution of the product.
“I truly wanted this to be an industry solution. I think the only challenge for this business is speed and execution,” he says.
Investor Cliff Rosenberg says having workshopped a variety of concepts with Premutico for all times after Dimmi, this one had the best probability of fixing an actual ache level.
“We are already seeing significant improvements in effectiveness and efficiency at restaurants where we have implemented the platform; and the feedback so far from restaurant owners, waiters, and importantly diners, is absolutely outstanding. It solves a number of real-world problems,” he says.
More than 500 eating places have signed up up to now, with me&u taking a transaction payment of round 5 per cent on orders.
Premutico says that is low when you think about the corporate believes the app can increase order values by as a lot as 5 or ten per cent.
Emma is the small enterprise reporter for The Age and Sydney Morning Herald based mostly in Melbourne.