South African business builder Harken Holdings has launched afood specials and events app to get more customers through the doors of restaurants.
Dubbed fomo, which is short for fear of missing out, the app aims to help consumers find specials in their areas, and restaurants expand their reach outside of traditional instore and own social media marketing.
The app’s launch comes as the local restaurant industry has taken a huge knock amid COVID-19 lockdown regulations, which have been exacerbated even further by the return of the alcohol ban.
Last Sunday, president Cyril Ramaphosa announced an immediate ban on the sale and distribution of alcohol. The reinstatement of the alcohol ban is part of government’s efforts to reduce pressure on hospitals, as SA’s COVID-19 infections continue to surge.
The deadly virus has so far infected over 373 000 South Africans and claimed the lives of 5 173 people, with the total number of recoveries standing at 194 865 as of 20 July.
Harken co-founders Ryan Marx and Jacqueline du Plessis say they decided to launch the app out of their own need to see up-to-date events and specials happening in their area.
Du Plessis says fomo is offered to restaurants for free to help establishments get back on their feet. In addition, consumers are also struggling with salary reductions and starting to cut out luxuries such as eating at a restaurant.
“For restaurants, we can help by getting people through the door, and for consumers, we can show them they can still afford to go spend some money at a restaurant if they know where the specials are.
“We shouldn’t expect restaurant/event owners to be marketing experts; we expect them to run a great establishment and, because of this, South Africans aren’t getting the access to the information that they need, such as ‘specials near me on a Tuesday’.”
Marx explains the app is built to fit into restaurants’ existing specials, there’s no year-long contract that ties in companies, and no percentage of turnover required.
An establishment simply goes onto the fomo Web site, fills in the 10 short questions about its specials, and the fomo team does the rest, he says.
“Although fomo competes with companies such as The Entertainer, Hyperli, Daddy’s Deals, etc, our position is slightly different,” notes Marx. “Where these companies have really good deals, like two-for-one meals, limited quantities or vouchers, most often, once these limitations are reached, the consumer will move on to the next establishment where a deal is offered.
“Fomo, on the other hand, plugs into existing specials of the restaurant and serves as an app for discovery, which also means access to more specials, like two-for-one, a free drink with a meal, or 20% off pizzas on a Thursday night, for example, with no vouchers or coupons or app subscriptions being bought. There are also very high commissions and monthly fees associated with these services.”
According to Harken, the fomo team currently consists of a staff complement of five, but is looking at growing by adding roughly 10 employees within the next four months, as well as opening a funding round for investors.
The founders have plans to expand into different countries in the near future, says Marx. “The plan is to have one app that you can use locally or when you travel, and use the in-app reviews to filter reviews by country of origin to help guide users on the best specials in certain areas.”
Du Plessis concludes: “I believe an app like fomo is going to be powerful in the South African landscape. Our plan is not just to build the app and leave it to gain traction, but to give it the attention and the growth opportunity it needs.
“The South African entertainment industry has taken a massive knock in the last couple of years due to the increased cost of living, and now with COVID-19, leaving South Africans with less money to eat out. If restaurants stick to what they are good at and we help with marketing, fomo can get more customers through the door.”
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