Although Americans dined out more than one billion times every week and spent a record $780 Billion in restaurants in 2016, restaurants faced significant challenges in attracting consumer visits.
Most restaurants run with an average utilization below 50%, which causes a huge failure rate in the restaurant industry. Imagine the number of seats in U.S. restaurants and the fact that they’re not occupied; it’s like running an airline with 50% of its seats empty, on every flight.
While 2017 is not promising to be any better and competition is getting even tougher, there is a new way for restaurant operators to capture more consumers.
TangoTab is a socially conscious marketplace that connects diners with restaurants’ empty seats. It creates dual benefits of improving restaurant performance and solving hunger.
In other words, just like Uber connects people who need a ride with individuals with cars or Airbnb connects those with empty rooms with folks who need a place to sleep, TangoTab connects restaurants with empty seats with diners who want to eat.
Every time a consumer uses the TangoTab app at a partner restaurant, TangoTab provides the cost of a meal to a local food charity following their motto: When You Eat, They Eat.
Since its inception in 2013, TangoTab has fed more than 1.7MM people in the Dallas area and is now spreading around the country.
Hunger is a massive issue in the US, where 1 in 4 children don’t know where their next meal is coming from. What’s amazing is that the consumer reaction creates incredible loyalty to the brands participating. Millennials and Mothers have been the largest user groups of TangoTab, since they strongly like to support restaurants that are cause driven.
In addition to filling seats and helping the hungry, TangoTab collects consumer and restaurant generated data that is then correlated to produce valuable and actionable knowledge. These predictive data models enable dynamic and automated Yield Management and help restaurants take real-time actions to improve profitability.
Using the TangoTab solutions, restaurants can take full control of attracting consumers when they need them most.