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049: The Impacts of Third-party Delivery Apps on the Restaurant Industry

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Tricky times bring difficulties for businesses, but they can also bring huge opportunities or new ideas to upscale and thrive. Despite the fact that the food industry is one of the most affected by these difficult times, we see growth and innovation at the end of the tumultuous period.
In this episode, the Business Geeks discuss the emerging third-party delivery apps and their impact on the restaurant industry. The restaurant industry is just fiercely competitive and low margin business and these apps are taking a big chunk of the profits making it detrimental to the business.
They also talked about the staggering effects on the workforce and how business startups can thrive in order to enter the space. Startups are struggling to raise enough investor capital to get off to a good start. Diverting their focus on how to get investors instead of figuring out how to get their business to work.
Change is inevitable, especially in business. Coping on that waves brings challenges on the startup culture and how entrepreneurs handle it.  It’s really interesting when you see these new business models develop as our culture is changing. It is fascinating!
What To Listen For:

The adverse effects of Pandemic on the workforce (03:37)
A bright spot from supply chains issues (04:56)
How third-party delivery apps affect businesses (07:31)
KPI versus ROI (08:40)
Getting started with inventing (12:35)
The first publicly traded company worth 3 trillion(20:37)
The birth of a new industry – Cloud Kitchen (23:03)
Joe’s experience with a ghost kitchen’s delivery service (26:59)
Hyperbolic presentations on business startups (32:10)
The line between fraud and confidence (35:48)
Joe’s take on the glorification of startup money (45:27)
Tip bidding (48:33)

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