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Restaurants that agree to get listed on CLAIMit will offer a deal – an attractive discount on their food > Consumers will purchase the deal via CLAIMit in the form of a coupon > Consumers will present the coupon in-store to claim the offer. CLAIMit gets a cut from the sale of the coupon.

To make this vision a reality, CLAIMit requires a large restaurant base to give consumers the reason and incentive to visit CLAIMit. CLAIMit needs to have a restaurant base large enough to serve also as a directory for consumers.

To put this in a familiar perspective, I would suggest using hotel.com or agoda.com as an example. These online booking sites not only serve as a directory of hotels but the create an inventive for consumers to make their booking them by offering the best prices.

The vision for CLAIMit is close to those OTAs but it will be in the retail F&B industry and it will also be more localised.

Majority of restaurants and cafes in Malaysia are small businesses with relatively low capability to get high online presence given the strong competition. Malaysian consumers are overwhelmed with options which makes it rather difficult for restaurants and cafes to get a bigger piece of the market share.

The main target market for these restaurants and cafes is this group of female aged between 18 to 40 who have the tendency to spend on eating out where there’s disposable income.

CLAIMit’s aim is to help bring these group of people to restaurants and cafes more often.

Proceeds from sale of coupons will first be received by CLAIMit, and then reimbursed to businesses after deducting CLAIMit’s cut, which will be an agreed percentage from the gross revenue.

CLAIMit requires a sales team that approaches businesses to negotiate deals and getting businesses onboard and a marketing team that promotes the deals offered by these businesses and CLAIMit itself.

Both Louis and Alan have a similar vision which is to create an online platform that helps businesses grow and one that consumers love.

CLAIMit’s current sales executive is Coco Lim, who has had 4-year experience as a Sales Manager in a similar industry at livingsocial.com.my , now ensogo.com.my before joining CLAIMit in November 2015.

CLAIMit initially began as a deal site that provided various types of deals including restaurants, hairdressing, healthcare products and etc. However, due to strong competition from existing deal sites and lack of resources to compete against those sites head to head, we decided to focus only on one industry and excel in it – It was food and beverage.

CLAIMit rebranded itself as a restaurant and cafe deal site, offering hefty discounts for famous restaurants in Penang. We’d now like to turn it into a F&B focused deal site and we aim to create a large restaurant base to create sufficient traction for consumers to deem necessary to always visit CLAIMit before heading to any restaurants and paying full price.

Funding of seed money of RM600,000 is required to scale the operation in Penang and expansion to Kuala Lumpur.

Major areas where the funding will be allocated to:

1. Hiring salespeople
2. Polishing the system (website and mobile application)
3. Marketing

We are currently operating at an extremely low budget, with extremely limited resources and one-person salesforce. With funding, we could expand the salesforce to get more merchants onboard offering deals, we could enhance the user experience of the system, and we could engage various marketing activities to promote CLAIMit and increase user base tremendously.

1. The reluctance of consumers to embrace yet another deal site given majority of deal clippers have had somewhat brief relationships with companies like Groupon, LivingSocial and other deal sites that have operated in the industry for quite some time.
2. The strong competition from competitors. Companies like Groupon, Ensogo have much more resources to fend off newcomers.

However, CLAIMit will market itself as a restaurant deal sites. CLAIMit will get as many deals from as many restaurants as possible for consumer to deem necessary to always check CLAIMit for deals before eating out. Different to Groupon and Ensogo, CLAIMit focuses only on Food and Beverage giving consumers a good reason to use CLAIMit over other deal sites when it comes to food.