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I am not your target market, but holy shit, that's one heck of a write-up. I couldn't have been more "meh" seeing the title, but you sold me on everything—the s
by shubhamjain 7y ago
I am not your target market, but holy shit, that's one heck of a write-up. I couldn't have been more "meh" seeing the title, but you sold me on everything—the size of a market, the growth, how you're doing no one else is and why it's an awesome opportunity. An amazing pitch. I hope you well for success.
- timgriffin77 7y agoReally appreciate the support!
- wtvanhest 7y ago> Starbucks is the largest chain, but they only process 2.5% of those daily sales. Seriously shocking.
- timgriffin77 7y agoSame! I couldn't believe it either. If you're interested, look into Luckin' Coffee too - their rise to power is remarkable.
- wtvanhest 7y agoI'm surprised they are so small. They feel like they are everywhere and doing a ton of volume. I always assumed they had 10%+ of global market share of coffee sales.
- timgriffin77 7y agoWhen we started I thought the same thing, but quickly came back to earth when the data highlighted just how much coffee people drink in other places (think diners, bakeries, cafes, etc.). In fact, McDonalds is the #1 global chain for coffee sales, because if there's one thing that people love more than coffee - it's cheap coffee!
- rainyMammoth 7y agoSame. I almost want to launch a competing service now.
- quickthrower2 7y agoThis isn't new. There are competitors in this space. Years ago I was using one called Hey You. I'm not sure about the USA though, maybe it doesn't exist there, or not at a national level.
- rainyMammoth 7y agoI guess the issue is that to make such an app work you need to have a large network effect. If there aren't enough coffee shops on it I will never think about opening the app.
- timgriffin77 7y agoSpot on - adding new shops is our primary focus right now, if you have a shop you go to a lot, telling them about Cloosiv would help a ton.
- quickthrower2 7y agoYes. Well maybe. Here is a brain dump: I used a popular app in Sydney. Sydney loves it's coffee and coffee shops and people don't mind shelling out $5 for coffee, queuing for it but the coffee has to be good. A lot of people will go to the same coffee shop every day, near where they work, or perhaps on one of the train stations on their way. So if just that coffee shop has the app supported it that might be all they need. A single coffee shop could have it's own app and be all good, in theory. Although people often need marketing and re-marketing to remember about the app. So seeing an ad for Cloosiv on the train, then seeing the sign at their local will help them adopt it. A free first coffee helps as well! To use the app, you have to know what coffee shop you are going to in advance - so there is an element of habit by the users. If you are in a strange area and don't know where to get a coffee you'd probably walk in, by which time you probably are better of queuing although maybe the app is still faster. Unless you are using the app for discovery. If I am in a dense area I can find a coffee shop easily. But if all the coffee shops are listed and I am in a area with few shops it could be a useful way to find my nearest. But you'd need a lot of saturation for that - a bit like Uber has nowadays but not at the beginning. Another aspect is the move towards bringing your own cup. This is awesome for the environment, assuming people aren't throwing away the permanent cups! Usually there is a small discount for BYO cup. Hopefully it should cater for that, but to do so would require them waiting for you to appear before making your coffee - negating the speed benefit but there are other benefits such as loyalty points, not needing your wallet and so on.
- patrickrivera 7y agoI had the exact same thought lol. Great writeup!