The start-up lets restaurants discount their pricing during slow patches to drive demand. Restaurant venues can control which tables they discount, by how much, and when. However, EatClub’s discounts are menu-wide and not on individual items.
Examples include, discounting some tables that are ready to go during pre-dinner service setup, which is usually a zero revenue time for restaurants even though they are tallying up staff costs. Or discounting tables during post-lunch but pre-dinner periods.
Restaurants usually offer discounts of 20 per cent to 50 per cent. EatClub makes money by charging them a subscription fee to use the platform plus a commission of seven to 10 per cent.
Its shareholders so far include Alium Capital, EVP Partners and celebrity chef Marco Pierre White, who was at 5 per cent of the register but dipped slightly after the early 2019 round.
Anthony Macdonald co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years’ experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at firstname.lastname@example.org
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at email@example.com
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