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Entrepreneurs on Fire
How Third Party Delivery Apps are Draining the Lifeblood of Restaurants with Nabeel Alamgir: An EOFire Classic from 2021
Nov 1, 2024
26:49
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Nabeel Alamgir, CEO of Lunchbox, shares his inspiring journey from growing up homeless to becoming a successful leader in restaurant technology. He discusses the turbulent impact of third-party delivery apps, highlighting how they drain restaurant profits and customer loyalty. Nabeel explores innovative solutions like ghost kitchens, which offer aspiring chefs new opportunities. He underscores the importance of a strong digital presence and resilience in navigating the challenging landscape of modern restaurant operations.
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Quick takeaways
- The reliance on third-party delivery apps severely impacts restaurant profitability, retaining only a small fraction of customer spending amid ongoing business challenges.
- Ghost kitchens present a valuable opportunity for aspiring chefs to launch their brands with lower costs and enhanced market accessibility for underserved individuals.
Deep dives
The Impact of Third-Party Delivery Apps
Third-party delivery apps have become a double-edged sword for restaurants, offering convenience for customers but creating an unsustainable business model for many establishments. For every $100 spent through these platforms, restaurants typically retain only $5, making it increasingly difficult to maintain profitability. This reliance intensified during the pandemic, as many restaurants transitioned to being entirely dependent on these services after in-person dining was limited. As a result, over 100,000 restaurants in America have permanently closed due to these pressures, highlighting the need for a shift in how restaurants engage with delivery services.
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Listen to the best highlights from the podcasts you love and dive into the full episode