MyCafe Apps that detect nearby restaurant seeking RM450k – RM1 million

MyCafe Apps that detect nearby restaurant seeking RM450k – RM1 million

Project Cost: RM500k – RM1 million

Amount Invested : RM50k

Amount Required : RM450k – RM1 million

Knowledge / Experience Required:
strategy
finance
sale & marketing
internationalisation

Proposed Investor’s Role:
full time
as mentor

Industry:
informatics / multimedia
internet
restaurants / f&b

Project Stage: start-up

EXECUTIVE SUMMARY:

Company History:

I’m a founder of Virtual Softnet Solutions sdn. bhd. that has developed so many military and commercial applications such as Automatic Message Processing System for the Navy, SOFTnet.Q Management System (nearly 50 installations), Softnet Check Managements, Softnet Waktu Solat (androi mobile app with 400k downloads) and many mores. Nearly 17 years in the business.

Product / Service Description:

From mobile app softnet waktu solat with 400k downloads, I have developed MyCafe app that detect nearby restaurant. Menus of the restaurant are available in the app. It is normal in most restaurant in Malaysia that the hospitality is very poor. To make an order sometimes can be a nightmare since no waiter could give attentions to customers. Thus, it is be a nice for customer with myCafe app can browse through the menus from their mobile and then place an order directly from the app. The app then will notify restaurant owner of pending order and the owner will have to confirm the order at the customer table. Once order has been confirmed tickets will be printed at the kitchen stations such as drink station and food station. The app is universal that any restaurant that subscribe to mycafe app will be able to use it. Point of sales will be rented to restaurant and will be synchronized with cloud server, so that user can browse the menu and can make order for pick-up or home delivery if restaurant want to offer such services.

Business Opportunity: MyCafe will solve:

1. Food order nightmare at most restaurant, still use paper notes
2. Solve manpower shortage nightmare at restaurants
3. Hospitality problems, stressed out waiters/workers
4. Helping restaurant owner in food statistics, new menu, best food, repetitive orders (same customers with same orders).
5. Social bonding, (send email, promotions, facebook, twitter), send receipt by email
6. Giving best POS System and at the same time mobile app, and social links that will bring in more customers.
7. Rewards customers with rebates, vouchers etc.
8. Last minutes promotions to nearby customers
9. Advertisement online

Food market is huge, with 3000 restaurants subscribed to our system revenue can be more than RM 25 millions a year. And that is just Malaysia. This system can be made viral to the whole world to benefit it.

Revenue Model: Revenue is from the followings:

1. monthly rental of POS system.
2. from each transactions that customers paid through our e-wallet system.
3. From advertisement of restaurant owners place on the app.
4. Take-away and home delivery charges.

Management Team:

Current I’m looking for partners/investors who are good also in marketing and strategies. My area of expertise is product developments.

Current Status:

Currently softnet waktu solat will do push notification whenever its detect nearby restaurant. User will end up running MyCafe app. The app prototype is ready at Google Play market. Search for MyCafe.

Funding Milestone:

1. 1 – 6 months – completion of android, iphone app and POS system. 30 restaurant will be testing sites.
2. 6 – 12 months – after phase 1 completed seek for RM 25 millions more fund for 3000 restaurant and e-wallet development. Revenue is start to come in already at this stage.
3. 12 months and beyond – nation-wide and world-wide implementations. Should be able to get RM 100 millions to RM 500 millions funding to implement this. Maximum revenue can be around RM 250 millions a year by this time.

Business Valuation: 30% to 49%

Expected Return On Investment: 50% to 75% in 5 years times.

Investment Risk and Mitigation: n/a

Exit Strategies: Share buy back.

CONTACT PERSON:

ABU BAKAR HASAN ( abakarh@gmail.com)
Company Name: VIRTUAL SOFTNET SOLUTIONS SDN BHD
Postal Address : 38, JALAN 15/5G,
SEKSYEN 15
BANDAR BARU BANGI,
State : SELANGOR
Post Code : 43650
Country : MALAYSIA
Telephone : +60125187849
Website : http://www.muslimsolatpro.com/softnet
Mobile: +60125187849

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