Blynd is a food ordering platform that takes the decision fatigue out of ordering.
Here's how it works: Restaurants will serve only one dish at a time. This is their "Blynd Special". This dish is unknown to customers and can change at any time.
Customers oftentimes suffer from decision fatigue when ordering and don't know what they want. Blynd takes the guessing out of the equation. With Blynd, restaurants curate meals and customers can offer their feedback to the restaurant. This creates a rich relationship between the restaurant and its followers. Restaurants are brands with local followings, not supply-side commodities. Blynd gives restaurants tools to grow and engage with their customer base.
Blynd is starting with mobile ordering for restaurants, where there is a $600B opportunity to take offline takeout transactions online. Delivery only makes up 10% of the restaurant market. The rest — takeout and dine-in — remains offline, anonymous, and on the verge of disruption.
Blynd is focused on pick-up, which is the majority of most takeout market. This means it doesn't have to acquire or manage drivers, and can both offer lower prices and shift those dollars to build other parts of its ecosystem. Namely focusing on cashierless transformation. Registers are slow, inefficient, and create long lines. In the the next five years, they will be replaced by mobile order, and restaurant workers will be freed up to create food rather than punch in orders.
As it turns out, a lot of young people seem happy to pop out to get something nice to eat. It means they get to socialise, and take a selfie with their food or drink at the venue where it’s being bought. It becomes an experience.
Blynd also gives restaurants a built-in development kitchen. A way to try out something the chef wants to put on the menu, but wants to test it out first. Additionally, a restaurant can offload excess inventory by constructing an elevated dish out of what they have available. The ad-hoc nature of the platform truly sparks joy to online food ordering.
Blynd aims to provide restaurants with a low-effort (same dish), low-labor (one serving time) revenue stream through an easy to integrate online ordering platform.
Blynd also gives restaurants a unique way to engage with customers, creating a funnel for customer acquisition.
Below is an illustration of a sample Blynd transaction. For a $26 order, Blynd keeps $2.50 in revenue, a take rate of ~10%. The remaining ~23.50 is sent to the restaurant (an "effective" take rate of 90%).
Restaurants have been struggling even after the pandemic. They suffer from competition on price points among many competitors as well as increasing cost of talent, real estate and food & beverage products. Blynd adds another dimension to the equation.
Blynd enables restaurants to sell inexpensive, delicious, and transportable dishes at high volume. When a restaurant is able to sell simple, easy to make, and identical food scale, they can do more revenue than on a busy Friday night. Alinea, a world-renown, Michelin-star restaurant did its best day of revenue ever during the pandemic, serving takeout meals at volume.
The "Blind" concept is borrowed from my favorite breakfast spot in Madison called Short Stack Eatery. Short Stack does the entire experience right. From serving simple, fresh and local breakfast to supporting the local community as well as serving as a guide for other businesses to support and contribute to a food system centered around sustainability.
I want to leverage technology to deliver a serendipitous and elevated dining experience like I've had at Short Stack, at scale.