May 29, 2014
Dining in New York City can be a hassle if not properly planned or there isn’t a willingness to wait for food. Resy, a reservation app set to launch in June, wants to solve this problem.
I know what you’re thinking; Isn’t there an app for that?
According to cofounder Gary Vaynerchuk, the difference is the product. “At some level, how this space all plays out is who’s creating the best product for the end consumer,” he explained in a recent interview with Eater.
In this space, companies like OpenTable and Yelp have created apps with the intention of making the dining experience enjoyable for users. Ben Leventhal and Vaynerchuk see Resy as an app that not only lets you book a reservation at a restaurant, but also gives you the option of having the best seat in the house at their preferred time. It’s reservations on-demand. Resy will be all about “flipping the model” of existing reservation systems.
“What we do is we partner with restaurants that we think are amazing and we give them the vehicle to put their premium seats and reservations on Resy and customers pick those up,” said Leventhal.
Restaurants will be able to charge customers for the convenience of booking premium tables, while earning extra cash.
“We’re flipping the model. This is something that we hear from restaurants all the time: Why should I be paying all this money for a reservation service if I can fill these tables myself? We’re flipping the model, and so the restaurants will never be paying us to book tables. We do a revenue share with the restaurant and it depends on which restaurant it is, but they’ll be generating revenue, increments of revenue, from these reservations,” said Leventhal.
The idea that planning in advance for dinner at the city’s best restaurants is an inconvenience that continues to be the driving force behind Resy. The difference is that users feel like a friend of the chef who gets the best table the moment they walk in.
Resy is set to launch in New York in June. The company plans to expand in September into more restaurants in New York and to other cities.
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