As of October 2017, the annual growth rate of the restaurant business has been 3.1 percent monitored throughout 2012-17 and it has employed approximately 4.5 million people in the USA. with a total of 294,633 businesses already in place, the restaurant industry in the US alone has been valued at $245 Billion, today.
According to food and restaurant marketing research, loyal recur customers of a restaurant account for at least 33 percent of the total revenue. Whereas they may account for as low as of the overall customer base at 15 percent. Customers in the US often complained about poor customer service at the restaurants, on the other hand, restaurants find it hard to maintain loyal customers, increase their revenue and scale their business. https://lunchmoney.io/
Their most crucial common and crucial complaints include poor customer service, finite menus, poor food quality, require of healthy options, lack of hygiene, irregularity in quality, lack of hygiene, lack of loyalty incentives, and negative feedback from other restaurant visitors. With so many total existing and emerging restaurant options in the market, customers have developed very little acceptance for the compromised service excellence at restaurants. https://lunchmoney.io/whitePaper/Restaurant_PI_Whitepaper.pdf
With so many emerging and existing restaurant options in the market, customers have developed very little tolerance for the compromised service quality at restaurants. Their most common and crucial complaints include poor food quality, poor customer service, finite menus, lack of healthy options, lack of hygiene, inconsistency in quality, lack of loyalty incentives, and negative feedback from other restaurant visitors.
What can be the possible solution for a win-win situation for restaurant owners and customers to rival these issues is to enter Restaurant P.I., a blockchain loyalty rewards service for eateries and restaurants. Customers earn cryptocurrencies and can submit feedback via the platform. Restaurant owners can post exclusive discounts and deals and on the Restaurant P.I. platform and earn crypto when their customers redeem and accept their offers. Restaurant P.I.platform has been planned for eatery owners and restaurants who are looking for increased and boosted introduction to customer recognition, restaurants can increase their possible profits by 25-125 percent according to a Harvard study, by increasing the repeat customer rate by as low as 5 percent, therefore Restaurant P.I.’s conception aims at improving the significance of delivery from food-serving business to the customer. Owners can boost their businesses by gaining optimistic recognition, maintaining loyal customers, and by improving customer service per the feedback.
Blockchain technology ensures precision and trust in the customer and the business relationship. Restaurant P.I. is a Blockchain trading platform that serves as an entrance between local restaurant owners and patrons. Exclusive discounts and deals are offered to loyal customers and genuine feedback is rewarded with cryptocurrencies.
Restaurant P.I. is a decentralized app that rewards restaurant customers with Lunch Money and additional cryptocurrencies when they effectively submit feedback via their exchanges. This paper describes how we use smart contracts to acquire loyalty rewards programs via the Restaurant P.I. decentralized application and Blockchain technology the owners can grow and improve their businesses. through this platform, all feedback left by users will be beneficial and in the result.
Following is a list of restaurant industry opportunities and threats that will rationalize the creation of the Restaurant P.I. trading platform or the affirmed reasons. Customers uphold to seek healthy meal options within an array of the menu list, customer loyalty and preservation is another essential factor when it comes to the success of a restaurant. Restaurant owners need to swiftly adapt to the shifting demands to flourish in the food industry. Increasing the duplicate number and rate of loyal customers is essential for increasing the business. The strong price-based resistance will highlight the restaurants to deliver higher-quality services at reduced prices for the patron's, international development is crucial on the pages of the long-term strategy for restaurants. Having admittance to the Restaurant P.I. the app will help new food businesses gain clients at an accelerated pace whereas new businesses struggle to gain customers in their first few years of business Restaurant P.I. is the solution to this problem. https://Lunchmoney.io
Restaurant P.I. is free for individual users, it’s a subscription-based policy service for restaurant businesses. This allows food and restaurant vending businesses to take advantage of all our accessible services at a low cost at just $19.99 USD per month. Crypto projects will be able to list their token/coin on the platform for a listing fee of 2.5 Bitcoin. Advertisements will allow for a third stream of revenue. This will be implemented when the commercial and customer base increases adequately enough to generate returns from the ads. Post discounts and deals Earn Crypto Subscribe Reply to customers Advertise
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