Largo App

Abstract

This document evaluates the feasibility of LarGo app business proposal. LarGo is a mobile app focused on improving mobile payments at table-service restaurants. Largo’s goal is to improve the dinning experience for both diners and restaurant operators providing a much faster and easy payment solution. The business intent to make profit from the restaurant industry, which sales are forecasted to reach $800 billion in 2017 making it one of the biggest industries in the U.S. As of today, the full-table service industry, including single location restaurants and chains, generates over $200 billion in revenue. LarGo app is connected to the Point Of Sale system of the restaurant and allows diners to open and close their check whenever they want. Technologies like these provide restaurants a competitive advantage plus the possibility to grow sales by enhancing seat-turnover and customer satisfaction. Moreover, LarGo app serves as a customer relationship management tool. Restaurants will have the opportunity to gather customer information in order to deliver a more personalized service in the future. The estimated funds needed in order make this project real are projected to be $105.000, and the whole pre-launch plan will take 5 months. Upon that, our target is to lineup 1,000 restaurants by Year 4. According to different assumptions described in this document, if we are able to offer that amount of restaurants our revenue will reach $2.9 million.