We give restaurants the expertise to set up commission-free online ordering system: Krish Matreja & Advait Makhija, Co-founders, Eatabl
In an exclusive conversation with Good Newwws, Krish Matreja & Advait Makhija, Co-founders of Eatabl shared the idea behind staring this unique startup, challenges they faced, future plans and much more.
'Success is an ever-changing yardstick', yes, this is what young and influential entrepreneurs Krish Matreja & Advait Makhija think when they talk about the achievement of their start-up 'Eatabl'. Intelligent and well read they definitely know their game with utmost precision.
Good Newwws recently got a chance to interact with these two budding businessmen and know about their success story.
Talking about the inception of 'Eatabl', Krish Matreja mentioned, "It started when we were in college, Advait and I are fairly young, we're 22 now and it happened when both of us were in the third year of our college. What we were doing back then was something in the in-dining space, we had realised that with Zomato, Swiggy, Dine out and others they were there for the delivery space but for in-dining space, there was still no tech. We were doing, what is now known as contactless dining everywhere after COVID-19. We knew that contactless dining was going to happen but unfortunately the pandemic hit accelerated it and big players like Zomato and Swiggy played their game. However, that's where we got left behind. The inspiration for the delivery space Eatabl came from one of our partners, we were once talking to them, what would you like? how can we solve your problems? because they are customers' first company. So, they told us 'the leading online food delivery companies are killing us by taking too much commission along with discounts. So, whatever you are doing in-dining can you set up a delivery for that?'. That's how one of our restaurant partners gave us the feedback and then we spoke to both the partners and researched in the market what is wrong in the current delivery space and how Eatabl can change the scenario."
Adding further his partner Advait said, "Food delivery today is broken. What's happened over time is that the aggregators have a level of power over the industry which honestly is unhealthy for the entire ecosystem. In today's date, restaurant owners are upset as they are barely making any money in food delivery because they not only have to push discount but also most restaurants are paying 25% extra. What we thought is instead of trying to be a consumer company let's become a B2B infrastructure and tech provider which empowers individual businesses to set up their sort of shopping and e-commerce site. Eatabl gives the restaurants the ability to set up their online ordering infrastructure, they can accept online orders and payments after we give them a dashboard and analytics. We have tied up with Dunzo and Shadowfax right now to ensure they have delivery fees on demand. It will be only when you empower the local businesses and the restaurants themselves to use state of the art technology. Like how we see big players constantly promoting their owns apps and their direct ordering places so that they get access to the data and build one to one loyalty and that's what is missing with most restaurants today, that's what we are trying to give the local restaurants and cafes democratize access to that kind of technology where they can compete in a very sustainable way."
Shedding light on the onboarding process Krish averred that once the restaurant agrees to come on board within a week they develop a website, look after the payment gateway and the delivery integration. They also allow the owners to upload visually appealing customised menu.
"For now either we get in touch with the restaurants or they can get in touch with us from our website or any other word of mouth, then we have a team that pitches our product to them, explains our entire offer to them. It's a free setup. Essentially what we do is we pass them their domain to process everything. Economic wise we just charge a low flat fee per just for the infrastructure", the dynamic duo said.
When asked about the challenges they had to face while setting up the business, the co-founders asserted that age was the major factor, people didn't believe us initially. "Since we are pretty young many used to say 'kya kar rahe ho n all' but the matter of fact is that we have been in this industry for one and a half years and we know it in and out more than anybody else. So at the beginning that was an issue but what helped us is that we have a really strong product, so when we sell it to the restaurant, they immediately understand it and get excited about coming on board. We are onboarding multiple restaurants every day", averred Krish
View this post on Instagram
Advait continued, "Building credibility in the food and restaurant space is tough as it is the most competitive space to be in. Krish and I were able to raise some capital last year, we also got investors who believed in our concept, getting that kind of credibility with investors was satisfying."
"We are constantly facing new challenges but that's how the game works. If you are starting a new company, every single day challenges keep evolving." They started Eatabl in January and to date 100 plus restaurants are working with them primarily in Mumbai and Pune.
Krish and Advait think their biggest strength as co-founders is that they have a very diverse skill set.
Elaborating about their future plans, Advait told, "From a company's standpoint we are well defined, what we see happening in the next two years is that we see every single restaurant that currently has an aggregator presence having their digital presence with Eatabl's assistance. The market is huge and being able to be a part of that ecosystem and creating a great impact is what as a company we are aspiring towards."
Finally sharing a thought on what success meant to them, Krish concluded, "Each step right from raising funds, launching the business to getting restaurants onboard everything was 'success' to us. So success keeps changing, it is an ever-changing yardstick for us."
If you wish to partner with them visit their website now: Eatabl