PayTable

Overview:

The PayTable is a restaurant interface idea that will allow restaurants to cut down on customer wait times, and allow customers to a more interactive and friendly restaurant experience. We are currently living in the era of touch screens and handhelds, and several restaurants have experimented with similar technologies, including in-hand credit card swipes for waitresses, interactive menus, etc. The PayTable, however will incorporate all of the above and much more.

The Idea:

The PayTable is a restaurant OS that would allow customers to take the restaurant experience into their own hands, simply taking self-service to another level. Customers will be able to sit down at their tables and use the touch screen to place their orders exactly how they would like them, once they finish their orders they simply press submit, and are prompted with a pay screen, The customer then pays for the meal using cash or credit by inserting it directly into the machine (i.e. an ATM, or Drink Machine) this immediate pay prompt will cut down on walks-offs. After payment the order is then processed and sent to the kitchen where the meal is prepared, and brought to the table by the waitress. The PayTable will also prompt costumers to submit reviews or requests. If a customer submits a bad review a message is immediately transmitted to the office where the manager is alerted, and will pay the table a personal visit to tend to the problem (i.e. alert button in which you find in a bowling alley). Optional features of the PayTable would allow customers to download an app that would allow them to make reservations, check wait times, or if they prefer a specific table at a specific restaurant check its availability.

Target Market:

PayTable OS:
The target market would be franchises, and occasional middle level restaurants. These restaurants will be the ones that are looking to differentiate themselves from their competitors on the terms of excellent service. Also this product would fit well with the strategy of a restaurants faced with the dilemma of more demand than store capacity.

PayTable App:

The target market for the application would simply be the restaurants customers or any other smartphone user that doesn’t have 50 minutes to wait for a seat at a restaurant.

Competitors
The competitors for the PayTable would be your traditional credit card swipe companies, as well as the digital menu maker companies.

Financials
Most of the cost incurred to make this machine would be the development of the interface, and the construction of the card swipe and money taker. However, this idea can be easily monetized by actually selling the machines to the individual restaurants, as well as leased. Money can also be made by offering occasional upgrades to the operating system that make the machine and interface more adaptable as we progress into the future.