🧠 A Restaurant Menu Optimization Service
Companies getting acquired for $100K-$50M & A Personal Website with 4 Million Visitors a Month
What’s up party people! Happy Super Bowl Sunday!
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1. Business idea of the Week: Restaurant Menu Optimization Service
It’s estimated that there are over 156K single-location restaurants in the United States.
This means there are 156K restaurant owners looking for ways to increase their revenue.
There’s a ton of different ideas for increasing revenue like adding new menu items, increasing prices, or advertising on social media. But one thing that’s often overlooked is the actual menu people order from.
The idea: Create a restaurant menu optimization service that specializes in helping restaurants optimize their menu for driving the most revenue.
This is similar to CRO (conversion rate optimization) agencies that help e-commerce companies increase conversions. The goal is to turn website visitors into customers.
And when it comes to restaurants, the goal is to get customers to order more expensive food and drinks.
A restaurant menu may seem like just a basic list of foods, but what if the size of the font or the name of the dish actually changes what people order?
This is the question your service will answer.
A major feature of this service is the ability to A/B test different menus. For example, if one menu names a burger “The Spicy Burger” and another menu names it “The Grim Reaper Burger”, you can track which menu sells more of this same burger.
How to get started: This service is ideal for someone that already works in the restaurant industry or has connections to restaurant owners.
But if that’s not you, no need to worry, but you’ll need to put in some time to learn about optimizing restaurant menus and how you can provide this service to restaurants.
Check out this article to learn more about a few hacks for optimizing a Restaurant menu to increase sales.
The most important part of this entire business is getting your first customer. You can start by offering this service for free to the first restaurant that is willing to work with you. This will give you a foot in the door to get real experience and build up a case study to prove the value of your service.
The best way to charge for a service like this is by collecting a percentage of the increase in sales you bring to a restaurant. This will make it much easier to sell since the restaurant owner won’t be paying for a service that doesn’t work, and you get unlimited upside when your service actually works.
Now let’s get one thing straight… This business likely won’t be the easiest business to start. It requires special skills and experience that can’t be learned overnight.
But if you can actually prove the value of this service, there is no limit to the amount of money this business can generate.
And that’s a wrap!
2. Companies getting acquired for $100K-$50M.
It’s easy to get wrapped up in the idea of raising millions of dollars and trying to create the next Facebook.
But the reality is…your business doesn’t need to sell for $1 billion to make life-changing amounts of money.
And my friends over at They Got Acquired are publishing the real stories of founders selling their businesses for $100K to $50M.
Learn about the founders that don't follow the Silicon Valley narrative and still make life-changing money.
3. This Personal Website Gets 4 Million Visitors a Month
This week I stumbled across a tweet about someone’s personal website.
It’s just one simple landing page with 29 interesting tools.
And it receives over 4 million visitors per month! 😳
The website is Neal.Fun and it’s made by Neal Agarwal. Neal monetizes the site with Google Adwords and based on an online calculator, these 4 million visitors could be generating >$250K per year.
But the most inspiring part of this whole website? Neal just builds cool tools and makes a full-time income from others enjoying his work.
This is goals.
Shoutout to Neville Medhora for the tweet about Neal’s website!