nishantnino
Joined 5 years ago
Karma
4
Submissions
6
Member since
Mar 30
Recent submissions
Comment · 5 years ago
interesting thought!
Comment · 5 years ago
entirely network driven for the ones with high conversion imo
Comment · 5 years ago
was not a cash deal. We paid x% royalty out of revenues for a year and gave the founder a small piece of our new co
Comment · 5 years ago
-we're creating multiple brands -each with their own identity. The common thread is premium. Target customers are restricted to those in a 10km radius of a kitchen. Aim is to build customer wallet share by understanding our set of consumers well and serving food to them across different food missions - meal to go , family meal, light meal, cheat meal. Efficiency comes as we consolidate the supply chain and infra at scale
-they scaled too fast because it would not have moved the needle for a company of their size otherwise. and its difficult to build brands customers truly love if speed and scale is the main focus imo, we focus on depth first, then breadth. -would love you hear your views too
Comment · 5 years ago
-good point, the direct channel website we have is built using a third party service so its not customisable. The plan is to set up our own platform where we can fully customize the flow and sell food from all our brands in a single order in the near term. Right now focus is on creating the best food.
-nope youre right , pictures are crucial in driving purchases, we'll fix that.
-interestingly Swiggy already moved into the business 2 years ago via a service called "Swiggy Access" where they created their own brands based on data. But it didnt work and they shut down all locations to shift focus back to their core business -logistics. In the longer term we plan on building brands with strong enough customer repeat rates to drive traffic to our own app/website and creating offerings exclusively available on our direct channel to reduce platform dependance.
Comment · 5 years ago
Hi we're Nishant and Pranav of Nino Foods, which creates and operates cloud kitchen brands in India focused on the premium market. Food Delivery in India has an average order value (AOV) of 4$ vs the U.S which is >30$. This makes it hard to run a profitable food delivery business In India. Our brands target the customers in India that order food above 7$ - which accounts for 50% of industry revenues and a majority of industry profits. This segment has 2.5 times more profitability, and stickier customers with higher expectations.
We launched 11 months ago by acquiring a Pizza chain in Mumbai-Francesco's Pizzeria, which had closed 5 out of its 6 restaurant locations and was running on fumes because of covid. We acquired the 1 active location along with the brand rights and converted it to delivery only. We set up a new brand-Nino Burgers , mostly to prove to ourselves that we could build a successful food brand from scratch.
We use hyperlocal data like - unfulfilled search engine queries on delivery platforms, highest selling menu items in nearby restaurants and highest selling toppings - to drive menu and pricing decisions. In the last 11 months we've understood how to grow sales on delivery platforms and we have designed kitchen layout, operations and SOP's to improve metrics that drive visibility on them.
Contrary to the negative sentiment shared by lots of restaurants in India toward platforms because of their 25% take rate - we have a Pro-Swiggy/Zomato attitude . These platforms make 3 times more money on orders through us than via brands with lower average order values. This aligns our incentives with them and gives us access to better data to grow and lower commission rates. Nonetheless, We still do 20% of our business via our direct channel which helps us understand customer preferences deeper and track loyalty.
We want to build category leading brands in food. A person orders food delivery 5 times a month in India. Our aim is for 4 out of those 5 orders to be coming from one of our brands.
https://linktr.ee/ninofoods has our instagram pages and an ordering website. We'd love to hear any thoughts, feedback and curiosities!