Author name: startup_admin

The restaurant tech space has turned into an exciting area for growth. It’s growing at a rate of 18% to 20% year after year. This massive growth is driven primarily by three significant trends within the industry:  Online ordering Online marketing  Restaurant delivery  With all of this growth, the industry will change again soon, driven by innovators looking to disrupt the small restaurant market. When it comes to independent restaurants, it’s important to remember that these businesses are cost-conscious. With food delivery apps making access to restaurants more convenient than ever, we still find pain points within the market. One of the most significant hurdles to smaller restaurants is being able to pay 30% on every order for the use of a delivery app service. When weighed against food costs, many small restaurants simply can’t afford the fee. It’s also important to understand that these restaurants have little or no background in digital commerce or technology. They also have less bandwidth to take on yet another aspect of business that is not directly making and serving food. As the industry continues to grow, focusing on small, independent restaurants is an excellent opportunity for any provider who can leverage data and provide not only online ordering, but help build an online relationship for the restaurants with their customers.

As little as ten years ago, most jobs required spending 40+ hours each week working in an office, maybe another 10+ commuting to and from that office, and sharing a space with your coworkers was the norm. In recent years, the way companies are doing business and running their offices has shifted rapidly. There are millions of remote workers across the globe. Where we once had coworkers living in our same neighborhoods, we now have coworkers in different time zones, maybe even countries. While many of us can work remotely, comfortable in our pajamas, there are drawbacks to the isolation. We’re not interacting with others the way we are socially inclined to do. We find ourselves with nowhere to go to perform our work and loneliness has slowly started to become an epidemic. Working from coffee shops can be a less productive work experience, so we turn to coworking spaces. The problem is, these spaces can be prohibitively expensive for many. The benefits of coworking spaces are numerous. They offer remote workers a productive space to work and In many cases, they provide the social interaction we lack by not working with a traditional company in a conventional office. However, if we are to use these coworking spaces as intended, there first needs to be a disruption within the sector. That disruption starts with cost-effective solutions that meet the needs of all remote workers.

1 min read Should you raise funding from family and friends? Funding is a massive hurdle for any new business. In the beginning, it may be difficult to convince a traditional investor to see your vision and join your initial funding round. For this reason, many startups raise funding from family and friends to get the business up and running during their first round. There are pros and cons to funding your business with money from the people you know. You’ll need to approach the right people and keep it professional. The problem is, many startups are reluctant to take family and friends funding because they fear the awkwardness of what happens if things don’t work out. The glaring question is always: Should I take money from family and friends to fund the business? The answer is: Yes. Outside investors will look at family and friends funding as a sign of support for your business. This is a good thing. It is a major plus to have this support when you’re seeking additional funding later on. Consider it from the investor’s perspective: If your family and friends won’t invest, why should the outside investor invest? So, don’t be afraid to approach your family and friends for funding. In the long run, it can help you with additional funding in the future. Read more in the TEN Capital eGuide: https://staging.startupfundingespresso.com/family-friends-and-other-funding-sources/ Hall T. Martin is the founder and CEO of the TEN Capital Network. TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

1 min read At its core, bootstrapping is about starting your business from the ground up without the help of outside sources. This process works by using personal funding in addition to the revenue of your initial customers to launch your business. There’s no doubt about it: bootstrapping can be tough. Limited income can sometimes inhibit growth. It also places all of the possible financial risks on the founder, which can be stressful. On the plus side, bootstrapping a business allows the entrepreneur to maintain total control over the company during its beginning phases. Perhaps the most significant benefit to bootstrapping a business is its appeal to investors. One of the most attractive elements of bootstrapping is that it is an excellent way for investors to see how serious you are about your business. It shows them just how much work you are willing to put in and your level of commitment. Additionally, bootstrapping your startup is a great way to stay disciplined with your cash flow. When you spend your own money, you’ll find that you spend much less of it. If you have the means to do so, think about bootstrapping your startup. It can lead to many more investment opportunities later on. For an in-depth look at raising funding for your startup, check out our guide: https://staging.startupfundingespresso.com/how-to-raise-funding/ Hall T. Martin is the founder and CEO of the TEN Capital Network. TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group