[JSR] The Launching of a Student Created Start-Up Company; Munch!
Organizing deals with our partnered restaurants proved to be a varying process as some ,including the agreement with TJ’s Cafe Restaurant, were immediately approved and others ,including the partnership with Nekter’s Juice Bar, required agreement in processes spanning several weeks. Me and my partner often went to the restaurant in person to meet the owners and gauge the promotions to be sent, with aspects such as the approved deal and time of sending the discount being important parts of our discussions. Although we experienced much rejection from other restaurants that found no need for Munch, it was a fulfilling experience to work with those that did want the services. Additionally, such experiences were helpful in refining our process of approaching and pitching to customers.
Prior to launch, preparation was extensive. To gain funding, my co-founder and I participated in several business competitions for the opportunities to gain investment. We also worked on marketing campaigns, which included social media promotions, word-of-mouth advertising, and posting flyers. One significant aspect of our marketing includes our recent referral program, a raffle that gives a $100 prize to a winning customer who refers friends to our service. It was important to find these and other creative ways of advertising that were effective, as social media alone provided lesser engagement rates than hoped.
Munch underwent its launch on Monday, June 22nd, for TJ’s Cafe Restaurant. On that morning, a text advertising the restaurant’s daily special was sent to all subscribers, urging them to come in and redeem the deal. My cofounder and I remained in the restaurant for the majority of the day to see how many customers used our deal, and talked to the owner after closing to reflect on the experience. Similarly, we conducted our deal with Brea’s Yogurtland on June 26th, for 20% off the customer’s order, while observing who would redeem the deal.
After both days, we conducted interviews and used the statistics from each deal to find what was successful and unsuccessful about the experience. Launching a business was an intimidating step after many months of preparation, but it was a necessary and rewarding process that showed the progress Munch has made after much hard work.
with the Korea JoongAng Daily
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