Their partners include some of the most popular fast food outlets, cafes, and restaurants in Dhaka
Businesses, particularly fast food outlets, cafes and restaurants, are all vulnerable to the problem of off-peak hours.
During these hours, they have to incur all fixed costs, but have very few customers to help share the burden.
A local startup called Froogle has decided to help these businesses thrive even during their off peak hours, by helping them connect with hungry customers who can visit these places at allocated times, and cash in on reasonable discounts by redeeming coupons provided by Froogle’s partners.
Moreover, customer demand is shared among competing businesses during peak hours.
“Being a member of Froogle does not require some kind of special subscription to a specific credit card company or telecom operator. All you need is a Facebook account to register for free, and you can start using our services,” said Faisal Zahir, founder and CEO of Froogle.
The company is currently being run by four employees in total including, the CEO.
Froogle’s current business model is based on serving the needs of both their customers and partners, and this has brought about a win-win situation for all parties involved.
Their partners include some of the most popular fast food outlets, cafes, and restaurants in Dhaka, including MadChef, Shawarma House, Glazed, Dos Locos.
Froogle also have certain quality standards that restaurants must meet in order to secure a partnership with them. Hygiene and quality of service must be very high, in line with international standards.
This devotion to quality serves a greater economic good as well, as high quality product and service providers are always at the risk of going out of business, due to the higher overhead costs necessary for maintaining quality.
Froogle do not limit their services to food companies. They have also formed a partnership with Blockbuster Cinemas, to provide movie tickets at a discount during off-peak hours. Since a major portion of Froogle’s customer base is comprised of school, college and university students, they actually posses the flexibility to visit these places during off-peak hours and avail the discounts.
The company’s future plans include forming partnerships with airlines companies and hotels, so that they too can offer exclusive discounts to customers during the off-season.
Froogle’s interface is user friendly and free, including for their partners. Partners are given free rein on customizing their coupons, setting the colour, discount percentage, and number of coupons they are willing to offer.
The website also purposefully excluded a review system, to prevent misuse of their services. Reviews on social media sites can sometimes be dishonest or misguided.
As of now, Froogle’s services are completely free for both customers and partners, but future monetizing plans include charging a small fee from partners per coupon.
They also plan to expand into a full-fledged online e-commerce store, and strive to be considered as the most trustworthy online marketplace of the country.
The company does not have a mobile app as yet, but are banking on the simplicity of their website to get customers to use their services without any hassle.
The company has already served over 3,000 customers in the span of three months, and is rapidly gaining popularity among youngsters.