Yes, you read it right. Rs 450 per month for the Chats Subscription Service. If you are wondering which food startup has started this, where is it located (in which city), and how to subscribe to it, well, you may have already subscribed to this service without even realizing it, through your local chat vendor near your home. Read on to know more about this!
Yesterday, when I went to eat chats in the evening with my family near our home, the chat vendor (a pretty basic cart vendor) said, "Sir, I felt very happy to see you. I was wondering why you haven't come in the last 3-4 weeks. Usually, you guys come at least once every 15 days." I told him that I had visited around 2-2.5 weeks ago, but he wasn't around; someone else was there. Then he said, "That makes sense. You probably visited when I was out of town. I had left one of my employees in charge the other day."
Much later at night, when I was recollecting the conversation that I had, I realized we had subscribed to a Chats Subscription Service at Rs 450 per month without even realizing it, and that too for the last 1.5 years. Each time we visit, we spend between Rs 220-230 depending on what we eat. So, basically, we are paying much more for my Chats Subscription, which we use just twice a month, than for Netflix / Spotify / YouTube, which we use every day. I may have subscribed to other similar subscription services that I am yet to realize.
His customer acquisition cost is pretty much zero, and he has a higher customer satisfaction and retention rate than many big corporates. I am sure this is true for most local businesses! People are willing to pay for a subscription service when they see value. Business lesson from your local entrepreneur for all global entrepreneurs.
If you are going to talk about scalability, he runs 6 chat carts in surrounding areas and has a centralized kitchen for preparation of all the chats for quality control and consistency in taste. He has employed more than 10 people and is open from 2:30pm to 11:00pm.
On a lighter note, his annual profits are higher than Koo App. (Koo spent Rs 202 Cr to earn Rs 14 lakh in FY22)
What local vendor subscription service have you subscribed to without even realizing like me?
Category:Business
Written by Prasad B Y
Foodie, Coffee Lover & Techie