Distant queues: Discovering O2O opportunities in queues

May 21, 2014 Innovation China · Next at the Shangri-La Hotel, Beijing, a gathering of investors and young entrepreneurs has been staged. In the morning of the Internet Special Project show, the entrepreneurs from Beijing I Control Technology Co., Ltd. to show their products-far line, and finally won the promotion. The following is a live speech transcript, without my confirmation: Distant queue founder, CEO Wang: Everyone judges good, everybody good, now to the meal point, everybody belly may be more hungry, want to go to the hot restaurant to eat, this time will encounter a problem, when we arrived at the restaurant door found a lot of people in line, took the number after still dare not go , how to do if you go through the number. At this time thought of such a queue artifact, in front of the phone to see the surrounding restaurant queues, and anywhere you can know that you queued information such a tool. I am the founder of the distant line, today to bring you a mobile phone line artifact, we want to do popular restaurant phone queuing platform. Our company was founded in 2012 in November, we have been in this field for nearly 1.5 of the time. Our philosophy is to create the ultimate product, mobile change Life ", our team mostly from Peking University, Tsinghua, several other people are my classmates and good friends." The market is very large, and we probably estimate that about 5 million people a day in the country waiting in line at the peak of the meal, this part of the restaurant is about 20% of the restaurant has such a demand. This part of the restaurant, although the number is not much, but their traffic is very large, accounting for more than 60% of the total traffic. Our products are through the cloud server will be the restaurant queue terminal and the customer's mobile phone through, the restaurant has a queuing machine, the customer mobile phone is a micro-letter public number, called Distant line. Now the restaurant terminal is a variety of forms, in our communication with the restaurant to find that they have a variety of terminal needs, the simplest is an Android tablet plus printer, and then launched a mini, fashion, classic, now we can apply a variety of queuing machines, we and hardware manufacturers in cooperation. The use of our products is the case, the first line can be taken, can be taken to the scene, can also be taken in advance on the machine, take the number does not worry about the number, because you can use mobile phone monitoring your number, you can also order in advance. Now we have cooperated with more than 20 well-known enterprises, such as Hallasan and these are our typical customers. We are in the country, in addition to Beijing, Tianjin, Shanghai, Shanxi, Inner Mongolia, Shenzhen have our customers, in Beijing we have absolute advantages, compared with our competitors in the market share is more than 50%, we are absolutely leading. Our development strategy is this way, the first step, first in the B-end enclosure, the terminal spread to more restaurants to collect more data on the restaurant, the second step, when there is a certain restaurant data can do some online expansion, so that the line of users queued up slowly to the online transfer, to form a line on such a habit of queuing, Eventually, when there is a certain number of B and C terminals, this time we form a O2O platform, we can from the queue to do a la carte transaction, through the O2O closed loop. As for our profit model, the future we want to do is the popular restaurant queuing platform, that is, first of all it has a label is a good restaurant ", then this platform has a very large advertising value, can help some restaurants do some brand promotion and promotion, so advertising is very important to us a profit model." Secondly, because we are to let the customer in front of the phone queue, we brought it to the restaurant door, we became the flow of the entrance, so traffic is also very important way. Of course, there are data, because we are a very large data platform for queueing transactions, so we have very valuable real-time restaurant transaction data. Our vision is to subvert the entire queuing industry, of course, we are not only to do catering, the future may have to do KTV, banks, do the industry's large queuing platform, large database, so that users queue up to think of our distant line. Our advantage is focused, early start, the market share is high, more importantly, our team execution is very strong.