Business Description:
Foodwire assists restaurant operators in reducing operating costs and improving customer service by:

Providing comparative performance information for restaurants operating in similar markets with similar profiles

Hosting web based food service scalable computer applications and data warehouse capabilities required to efficiently run their business and improve operating margins

Enabling restaurants and their suppliers to electronically communicate with each other thereby eliminating paperwork, improving inventory management and isolating costly discrepancies

Summary of Business Strategy:
Foodwire will be positioned as an integrated total service system solution and market performance information provider to the food service industry. This vertical market approach enables the company to deliver shared services, providing economies of scale, build solid relationships and alliances with industry participants, be cost competitive and sustain a body of knowledge second to none.

Products/Services:
A Web Hosted Full Outsourcing Service providing internet based food, beverage and supply ordering. All procurement, delivery, receiving and adjustments are processed electronically using Foodwire's proprietary hand held wireless technology. Integrated inventory management and accounting systems including data warehouse to support sales, operating costs, margin trends and competitive market analysis. All customers have access to the latest up to date suite of systems. Foodwire differentiates itself from competition by providing comparative operating performance information for restaurants operating in similar markets with similar profiles. Foodwire facilities, business tools and services augment existing "Point of Sale" (POS) systems.

Technologies/Special Know-how:
Working with Wiggins and Dana to patent foodservice specific Supply Chain software. Developing exclusivity agreements with leading POS providers

Target Markets:
Target customers represent middle to upper end restaurants with gross sales in the $1,000,000 to $3,500,000 range. Customers include regional hospitality, food and beverage chains and purveyors.

Distribution Channels:
Awareness and public relations will be focused on retail and wholesale food industry trade shows. Alliances and partnering will be established with vertical channel e-commerce distribution organizations who are predominant in the food industry. Other specific steps include: (1) key hire of experienced and seasoned regional sales directors, (2) establish value added resellers (VARS) and leverage existing hardware and software sales organizations and (3) establishment of a wholesaler sales organization to provide local point of sales execution.

Competition:
Direct competition is minimal. Two companies are developing application service provider (ASP) capabilities targeted to restaurants but to our knowledge they are not addressing supplier transaction integration nor are they offering market performance information. Indirect competitors are primarily POS system providers

Outlook:
Beta sites identified and customer commitment with known industry operators scheduled for 1st quarter 03 launch. Technical specifications developed to support inventory management and electronic ordering and receiving.

 

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