IBRC ~ iBrands Market Size & Potential:
Industry Trends
The Internet has fundamentally changed the way that consumers make decisions. Busy lifestyles, the growth of purchasing options and an increasing demand for convenience are driving more consumers to the web.
Today, the Internet is certainly the most valuable information resource there is, with over 800 million people using it everyday. When the Internet originally was developed 30 years ago, it was mainly used by governments, scientists, researchers and university teachers. Today, the Internet is used by people in all walks of life, from administrative assistants to CEO's and from blue collar workers to politicians. According to the Census Bureau of the Department of Commerce, third quarter 2009 e-commerce estimate increased 1.8 percent from the third quarter of 2008 while total retail sales decreased 7.5 percent (±0.4%) in the same period. This clearly shows the growing popularity and confidence of consumers utilizing the Internet.
Restaurant Online Ordering Market Size & Characteristics
Our market target for iMenu24/7 is restaurant owners and operators whether they are multi-national, Fortune 500 Companies or single, independently-owned restaurateurs. Our scalable technology makes iMenu24/7 affordable to all. Our geographic market target is the world. Our technical capabilities allow the company to market and service its products in the USA and Canada from our Atlanta data center. The North American market consists of some 1.1 million restaurant locations generating approximately $617 Billion annually in sales serving more than 78 Billion meal occasions annually. The National Restaurant Associations quotes that 58% of all restaurant patrons order food for off-premises consumption (take-out). That relates to some 45.2 Billion orders or $357 billion are take-out in the United States.
If one extrapolates a 1% market share as our goal for the North America market, this translates into a potential 452,000,000 orders (transactions) annually and, potentially, 10,000 restaurant customers. There is no assurance regarding the Company’s ability to achieve any projections regarding potential revenue or potential market penetration.
Currently in the United States, only 5% of restaurants have online ordering and most of those restaurants are chain affiliated in the pizza industry, such as Domino’s and Papa John’s.
iMenu24/7 has intuitive language capabilities. Thus, we are able to translate the language software for international use. Our strategy is to grow the company in the international markets through a licensing partnership program with companies or individuals who have expert knowledge and networking in the restaurant industry of their country. As an example, the European market has 27 countries with approximately $480 Billion in annual sales. Using similar consumer trends experienced in the USA, there are some 54.5 billion annual meal occasions in the European market. Assuming our licensing partners achieve a 1% market share goal, then the total transactions per year would be approximately 350,000,000.
The International Market for the Company represents approximately 41 countries consisting of Europe (27), Canada (1), South/Central America (4), Asia Pacific (7) and the Middle East (2).
Emerging markets, such as China and India, offer incredible opportunities for the company.
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