my uncle: "Why should someone invest in orderbird? orderbird is just a Point of Sale (POS) system!"
me: "Because its not just a POS system. It will be THE platform provider for the gastronomy."
my uncle: "Platform Provider? Are you going to produce oil rigs?"
me: " ... No ... and ... No.
orderbird will bring together all stakeholders relevant to gastronomy: gastronomists, guests, suppliers.
All of them will do their daily business with orderbird:
- Gastronomists run their restaurants with orderbird.
- Guests reserve tables, place orders, and pay with orderbird.
- For an optimal supply chain, suppliers and gastronomists work hand-in-hand with orderbird.
.. Ok, Ok, .. I must admit that the last elevator-pitch-part was added to make the dialog more appealing.
Seriously, orderbird's business model can be classified as a Multi-Sided Platform (MSP).
It does not strictly follow the MSP pattern as defined in BMG. Here's why:
Using a plain MSP business model, a MSP-company can hardly run profitabel without having customers that cover ALL customer segments that make up the MSP. Related to orderbird, this means that orderbird's business model would not work if orderbird only had gastronomists, only had guests, only had gastronomists and suppliers, and so forth.
This is only partially true. Ok, if orderbird only had guests and suppliers, the business model should surely be adapted. But in some settings it can be built and scaled incrementally. While bringing one sutomer segment onto the platform, profits can be made without having to wait for another customer segment to enter the platform.
Consider the current state of the evolution of orderbird's business model.
orderbird has entered the german gastronomy market successfully having the 100st customer reachable at the end of the beta phase. Until a critical mass is reached, orderbird will improve its POS system to help gastronomists getting even more out of their business and tapping on the revenue streams generated from its POS system.
While creating more value for gastronomists, orderbird is sketching and evaluating market entry strategies for bringing guests onto their platform. If a critical mass of customers is on the platform, the MSP model starts kicking! While offering guests an uncomplicated ordering and restaurant experience, gastronomists can profit from a better capacity utilization. And orderbird … orderbird is tapping on a new revenue stream: guest ordering. For every placed order orderbird will receive a turnover percentage. If guests pay via orderbird, a turnover percentage on these transactions is imaginable, too.
Besides the synergies among gastronomists and guests, the platform allows for better integration of gastronomists and supplier operations. Gastronomists will be able to choose from a variety of suppliers of beverages, food, and other goods they need to run their business. Suppliers can offer their products and services to a much broader audience.
Let's sum things up. If you thought about investing in orderbird, do not base your thoughts and calculations on the assumption that you will invest in a company that simply delivers a POS system. orderbird's business model follows the pattern of a Multi-sided Platform (MSP): orderbird will bring together all relevant gastronomy stakeholders. This consolidation of stakeholders will give orderbird the possibility to get a share on multiple gastronomy related markets: POS systems, guest orders and reservations, guest payments, and supply chains. The orderbird platform will be THE marketplace for the gastronomy.
Furthermore, what makes orderbird unique besides its business model is its team. The founder's talent and experience ranges from a deep understanding of the gastronomy market, to the planning and implementation of marketing and financial strategies, to a customer focussed development of software products. The founders are supported by a great team of software engineers, sales & support people, designers, partners and board of directors. The spirit and success of orderbird is reflected by the awards we earned so far.
I never felt so much enthusiasm and energy in a company!!