We Intend To Create A Local Food Merchant Network For The Mass Market Of India: Lalit Chauhan, Co-founder & CEO, Bharat Eat
In an interview with BW Disrupt, Lalit Chauhan, Co-founder & CEO of Bharat Eat, talks about the company, funding, and more
1: Brief us about your business model like how did the idea came to start and how does it work (step by step procedure)
With the hope to accelerate the establishment of Digital Bharat, Bharat Eat is basically a food aggregator platform through a tech-based solution for food delivery. Bharat Eat launch in 2019 in the month of August is in line with our vision of enabling optimum utilization of resources through integration of technology. As we intend to create a local food merchant network for the mass market of India #localforvocal, and on a mission to make AATMNIRBHAR BHARAT. Due to lockdown, we are moving a step ahead towards realizing this word AATMNIRBHAR BHARAT. We are working very closely and starting a new chapter of Bharat Eat. With a brand new franchise model for an online food aggregator platform with centralized support services, where a franchise owner uses our name with a number of % profits shares of the sales #buildingforbharat for #aatmnirbharbharat.
Bharat Eat has first launched its services in North Delhi and Sonipat in September 2019 and continued operations for about six months. Re-launching the services was in the pipeline ever since. We just wanted to be more equipped this time in terms of balancing the demands and supply side and covering more areas, and small cities. The moment we felt we were ready. We launched ourselves into this space again. Currently, we are in Meerut, Sonipat, North Delhi and soon to be in Jaipur and Lucknow too.
2: What are the funding status and monetization model?
Currently we are bootstrapped, and our main source of monetization is the percentage of commission from merchants, restaurant promotions, dishes promotions based on location, and many more to come in the future which we already planned.
3: What challenges are you facing in running your business?
The impact of Covid, These days’ people usually do order their food using an option (No Contact Delivery) which is good. And the main challenge is not available in other areas. Many users want to use our services in their areas.
4: What are the traction? (Users, App Downloads & Others Achievements of Company)
Bharat Eat is currently available on Website, Android, and iOS. To order food via Bharat Eat, users simply need to install the app or they can order from the Website as well. Our average per food order size is between 200-400 Rupees where 25-30% of transactions are online, and we do not charge the delivery cost on orders above 700 Rupees. Currently, we received orders of 250-300 on daily basis. At the starting of Jan 2021, we expect to receive around 1000-1200 orders per day. We have active users 10K+ with download on 35K+ with both platforms iOS and Android. Recently we are in collaboration with Mr. Ravi Kishan as a Brand Ambassador of Bharat Eat.
5: How do you look at expansion?
Bharat Eat is a cash flow projection and no separate funds are being raised for it. Though selling area-based franchise are already in progress. The profits made from Bharat Eat will be used for our expansion across other cities in India majorly focused 2 Tier cities. We are planning to launch Bharat Eat in about 20 cities in the coming one year.
6: What are your marketing plans?
For marketing, we are majorly focused on social media with Videos Ads, Creatives, and many more. Also, we are running offers from time to time with huge discount coupons which are between 30% to 90% Flat Off. Also, we offer Merchant 200 Rupees incentive on every 10th order for maximum flow of orders and engagement. Also, we used canopies, flyers, standees for popular locations.
7: What have been the biggest learnings so far?
Taste never lies. As per our stats, people usually order food from their favorite or popular restaurants. But they tried their luck once to change the restaurants using offers.
8: What are the market size and opportunity?
Food Delivery Market is estimated touched 12.53 billion dollars by 2023 on the back of a high growth rate with a growth rate of 15%.