08 Dec #BigDNT December: Caterly
Matthew Tyler Brown visited Dallas New Tech to talk about his latest project, Caterly. Caterly is led by Smoot Carter and provides the Dallas, Forth Worth, Houston, and Atlanta, GA regions a platform that connects businesses with restaurants to meet their catering needs. Brown leads the operations of Caterly, the on-demand catering service for corporate offices and any large group that needs catering, on-demand.
Caterly recognizes that people need to be fed. In an office setting, people need to be fed quickly, and the solution to that is on-demand catering. Caterly’s web platform holds a database of restaurants that have their menus on Caterly’s website, and the user selects their city, the type of cuisine, dietary restrictions, and the type of meal that is being selected (breakfast, lunch, or dinner) and the search function will provide a list of available restaurants. Allowing for the selection of catering in about two hours time.
In validating the market, Brown looks to GoodyBag in Austin, which reported $4.5 million a year and Sprig in San Francisco which has a $45 million valuation for delivery-focused, office-focused catering. These, in conjunction with the success of products such as GrubHub, Uber Eats, and Favor prove that there is a market for restaurant-to-consumer single-meal service.
Caterly is reporting a profit margin of 17-24% per order, and is specifically targeting office executive assistants and office managers and boasts corporate clients including the Dallas Cowboys, Interstate Batteries, and Gold’s Gym. Experiencing more than 100% growth month-to-month for the last four months, Caterly has an incredible click-through rate of 12%.
Carter has experience with the on-demand platform, having also founded BlownAway, an on-demand mobile hair stylist platform connecting customers with stylists. This resulted in Carter gaining experience with the on-demand platform and how to best provide on-demand services that can now be scaled into a larger market.
Check out his pitch below.