The restaurant tech space has turned into an exciting area for growth. It’s growing at a rate of 18% to 20% year after year.
This massive growth is driven primarily by three significant trends within the industry:
- Online ordering
- Online marketing
- Restaurant delivery
With all of this growth, the industry will change again soon, driven by innovators looking to disrupt the small restaurant market.
When it comes to independent restaurants, it’s important to remember that these businesses are cost-conscious. With food delivery apps making access to restaurants more convenient than ever, we still find pain points within the market.
One of the most significant hurdles to smaller restaurants is being able to pay 30% on every order for the use of a delivery app service. When weighed against food costs, many small restaurants simply can’t afford the fee.
It’s also important to understand that these restaurants have little or no background in digital commerce or technology. They also have less bandwidth to take on yet another aspect of business that is not directly making and serving food.
As the industry continues to grow, focusing on small, independent restaurants is an excellent opportunity for any provider who can leverage data and provide not only online ordering, but help build an online relationship for the restaurants with their customers.
