“How you sell matters. What your process is matters. But how your customers feel when they engage with you matters more.” ~Tiffani Bova
The year 2020 went very hard on the overall hospitality industry. Worldwide lockdown rendered their services almost redundant. One of the worst-hit was the restaurant industry. However, as the economy peaks up, there are many buyers who want to enter this lucrative arena and likewise, there are many young & established businesses who want to sell their franchise. Making this process easier is the newly bootstrapped startup – RestoExchange.
What RestoExchange is all about
Founded in December 2020 by Kalyan Charan, a Swiss educated hospitality professional with over twenty years experience in the industry, RestoExchange is a part of the Hospitality Resources Group, an acclaimed hospitality consultancy based in Hyderabad. It is the only available platform made exclusively for buying and selling food businesses. It simplifies the whole listing, reviewing, and buying process, cutting off the role of brokers who charge a hefty amount to render their services. In fact, the buyers can directly contact the sellers, with no interference from the platform or any member associated with it.
The listings on the platform can be created at economic pricing and have global visibility via an interactive website and growing social media presence. The platform offers wider and longer visibility on an online platform for the same price as a newspaper ad, which has a very short term and localized visibility.
The soil beneath the foundation
Explaining the rationale and need behind establishing RestoExchange Kalyan shares, “After the Covid19 lockdown, many food businesses have shut down and many new investors are looking to pick up distressed assets and hold on to it until the market recovers. RestoExchange provides a one-stop solution for both sellers who want to sell off their food businesses and investors looking to enter the food business.”
He adds, “We are receiving great support from a team headed by Mr. Jayesh Panigrahi, a student of IIM Sirmaur. The team is constantly working on improving the website layout, the user interface, user experience, our social media strategy, and our expansion plans.”
Looking towards the future
While the business is in a very nascent stage right now, it has been seeing a consistent increase in visitors to its website and social media pages, highlights Kalyan. He elaborates, “We understand that as RestoExchange is the first of its kind in the food business, it will take time for people to understand the concept and the benefits of using this platform. We are about to kick start a massive social media campaign to let people know about our services and aim to reach our target number of listings by Q1 of 2021.”
The brand is planning to create a pan-India presence in the following three quarters and then start studying potential markets such as Singapore, UAE & Sri Lanka as our next targets. It will have a global presence in the next five years. Hospitality Resources Group is also set to launch a job portal and vendor directory exclusively for the hospitality industry in 2021.
To know more visit – http://www.restoexchange.com/
Instagram – http://www.instagram.com/restoexchange_india/
Facebook – https://www.facebook.com/restoexchange
To read more Startup Stories on The Business Press visit – https://thebusinesspress.in/category/startup-stories/