This Startup Is Upping The Game For Fast Food

Restaurants have notoriously high employee turnover that was exacerbated by the global COVID-19 pandemic. 

After governments across the United States forced dining establishments to close their doors, many restaurant workers moved on to new careers, leaving their former employers scrambling to fill positions when they were permitted to reopen. 

Employment in food service and bars is down by 653,000 compared to February 2020 before the first cases of coronavirus began to appear in the U.S., according to the U.S. Bureau of Labor Statistics. 

Restaurant patrons are frustrated by the poor service they’re receiving these days, and restaurants blame the shortage of workers. 

And as life increasingly returns to post-pandemic normal, Americans are pressed for time and don’t have time to wait for slow food service. 

But a Baton Rouge, Louisiana-based company is working to solve that problem. 

Founded by Frederic Speed Bancroft, Speedy Eats believes convenience is second only to providing customizable fresh, high-quality meals. It has combined automated technology with underused real estate to create the ultimate drive-thru, walk-up and delivery experience with its standalone kitchens. 

The kitchens carry multiple types of entrees that can be served either hot or cold in individual, airtight containers and cooked in a convection oven. The units can be installed in high-traffic spaces like airports and train stations as well as untapped real estate such as empty parking lot spaces.

Building A Prototype

The company used the initial $500,000 it raised to build and test its full-scale working prototype. It also recently signed a letter of intent with drone delivery companies Valqari and Dronedek and has established commercial partnerships with DoorDash and Waitr.

Speedy Eats kitchens combine quality, convenience and a strong customer experience while minimizing overhead and streamlining operations. The kitchens will be able to integrate with third-party delivery companies and can learn traffic patterns to anticipate when and how much food needs to be ready. 

The company says its product will be positioned to capitalize on several markets, including the quick-service restaurant market, valued at $296.55 billion in 2021, and the global food delivery business, worth $126 billion in 2021, as well as theme parks, airports, train and bus stations and parking lots. 

Speedy Eats will manufacture and sell the units to operators for about $120,000 each and license the software as a monthly subscription. The company estimates each unit can provide a one-year rate of return for its franchisees. 

Speedy Eats is seeking to raise $1.07 million on the crowdfunding platform StartEngine. The minimum investment is $250.

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Image: Courtesy of StartEngine