But before I explain how, I would like to share a quick story.
Most of us after a long day at work have an insatiable craving, right? We have all faced that at some point or another but the thought of going to the restaurant, picking up the order then driving through dense traffic just to reach home in time to find your food cold, sounds like a hassle and kind of defeats the purpose of ordering in. This has been the case in the food delivery scene for many years. It took us centuries before Swiggy and Zomato came and revolutionised the online food delivery scenario.
If we can do this for food delivery, why can't we make the f&b supplies ordering operations simple too?
Typically, a restaurant or a hotel has to deal with at least 5-6 vendors for their procurement and this is a time-consuming process. Late night calls for order and sudden order cancellation are a nightmare, loss of invoice, no record of expenditure, stacks of paperwork only add to the problems.Commission agents, traders, and wholesalers take a huge chunk of margin and the restaurants and hotels may not avail any direct discounts and offer by the companies. Untimely delivery and product unavailability only adds to business loss.
So, to solve this issue, we came up with ChfMart. ChfMart is an online solution that makes the entire ordering experience hassle-free for restaurants and hotels of all sizes. Our platform brings the supply chain online, so foodservice professionals can place and manage their orders, communication, invoices, and payments - on one platform. Our goal is to digitize notoriously paper-driven processes, so stakeholders in foodservice can spend less time on operations, and more time doing what they love - creating amazing food.
I'm proud to introduce you to ChfMart. Everything the business need in one easy to use marketplace. No more phone calls, email orders, or stacks of paperwork. It saves 5+ hours a week managing orders and invoices, leaving more time to grow business.More accurate orders, pricing, and invoicing means fewer mistakes, fewer shortages, and less wastage and no cancellation. On top with our all-in-one payment, we make the messy reality of payments easy.Being a B2B business, we shorten the supply chain considerably which results in getting them the best value for their time & money while encouraging process transparency.
In the past 1.5 years, without even having much online presence we already have 282+ customer onboarded using our platform. I want to tell about the market. We got into this business because it's a huge market. Indian Food Services market (organized and unorganized) is estimated at INR ₹4,096 billion in 2019 and is projected to grow at a CAGR of 10% over the next five years to reach INR ₹6,753 billion by 2024. There is plenty of room for us to grow.
Our number 1 competitor is Hyperpure who has 4% of the market or less. Although Hyperpure has no presence in North East India but when we expand to other major cities, we're confident users will like ChfMart. Being it a multivendor platform, it gives freedom to choose the best price from different vendors.
So, you might be thinking why are we the perfect team to reinvent the f&b ordering solution? We know the competitive landscape; we've tried every single solution out there and nothing works. Maninder being a former restaurant owner for 4 years of one of the most promising dine-in places in Guwahati (Three Guys). In fact, he was the one to launch the first food delivery app in the city. The difficulty faced by him for procurements made him realise the huge problem in this sector. As for the other co-founder, she has past experience working with multinational companies in the field of HR which helps in team building and motivation, leading increased sales for the company.
So, now you know what we're building, and why we're building it. And in the past 1.5 years, we built and launched our website, vendor app, store manager app and delivery partner app and have directly collaborated with many companies related to restaurant supplies. We're servicing to more than 282 clients in Guwahati and 48 from other states of North East India, including national chains like PVR, INOX, BBQ Nation, Hardrock, MBA Chaiwala, Fat Tiger and Repose. Last financial year we did a turnover of 1.53cr with a monthly revenue rate of 13L and this financial year we're targeting a turnover of 3.08cr. We going to change the way people think about procurement in HORECA industry. We've a team, there is a pain, we've the solution, we've a beautiful product and we've traction. And I promise, ChfMart with become the norm and will bring an online revolution to help bring order back, from chaos.
Thank you very much.
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