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100X.VC Team
Written by various collaborators within Team 100X.VC
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Jan 24, 2023
Topic

Introduction

In this everyday urbanizing world, as people are getting busier day by day, convenience has become a need rather than a want. People are looking for ways and are accepting solutions that are making their lives easier. Imagine being a hungry college student with only 20 minutes of break time, and you need to stand in long queues waiting for your snack, or being a busy office goer trying to grab a snack on the way to the office. Wouldn’t you be happy if you could receive your food instantly, without the hassle of waiting and standing in a long queue?

Currently, there is no solution in the market that can help solve this issue. Aggregators like Swiggy and Zomato only allow discovery and food delivery. Here, Zing comes to the rescue.  Zing is trying to cut the waiting time at restaurants by allowing users to pre-order their food. Students can place their orders from their classrooms, office-goers from their offices or cabs, and everyone else right from their homes before even heading out. Users get a notification when their food is prepared and can opt for a dine-in or takeaway. They can easily collect their food from a separate zing counter in crowded restaurants, without having to deal with the crowd. For restaurants, Zing serves as an easy order management platform, and ‘the fastest way to serve food to customers’. This allows the restaurants to significantly increase the table turnaround time, and in turn be able to cater to more no. of customers with efficiency.


A 2021 survey by the National Restaurant Association of India (NRAI) shows consumers are eating out nearly seven times a month as compared to 2-4 times in 2010, and dining out happens to be the most popular choice followed by take-aways and home deliveries. As per reports India's organised food services market is envisioned to grow at a CAGR of about 10.5 per cent to $37 billion over FY20-25. With the consumer behaviour pushing the macroeconomic trends in a positive direction, there is space and an opportunity to add a layer of convenience to eating out.

The founding team at Zing consists of Golam Wahid Kaderi, an undergrad at BITS Pilani, Goa Campus, with Saswata Mitra Majumdar & Sayudh Mukherjee, undergrads at Presidency University. With young and creative minds, and an extensive experience of working in various start-ups, this team is ready to deliver a solution to the problem in hand. Golam handles the business and operations at Zing, Saswata handles the Tech, and Sayudh works on the Product & Design.

Market Opportunity

The restaurant industry in India is a $4B+ industry. There are 750 universities and more than 35,000 affiliated colleges enrolling more than 35 million students in India offering an enormous opportunity to grow inside and around college campuses. Apart from that, there are more than 70 Lakhs restaurants in the organized sector, and around 2.3 crore restaurants in the unorganized sector all over India, providing a huge potential for growth.

100X Thesis

Zing allows for pre-ordering of food for takeaway by the user. 100X believes the market of pre-ordered takeaway hyperlocal food for time-bound professionals and students is an underserved niche. The success of global players like Snackpass gives us more confidence in the opportunity. With solid founders with a focused approach and a lean mindset, we believe Zing will be able to create a blue ocean market of its own. It is similar to SnackPass in US.

Conclusion

Zing is built by a  team of college students, who themselves have faced the issue of waiting for 20-30 minutes at popular eateries inside the campus. In the alpha launch, the team experienced almost 70% penetration in the college and everyone loved using the app. With a simple business model , the team looks to build for people in the age range of 18-30, at this age the users love to socialise and spend time with friends; and food has always been at the centre of social gatherings. With some innovative features like the ability to invite friends for snacks or luncheons, share food items as gifts,etc. The team is inclined to make Zing a social food ordering app, where users can not only pre-book food and have an hassle-free and convenient restaurant experience, but make it their go to app for outdoor food experiences.

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