The global online food delivery services market is expected to reach $ 192.16 billion in 2025, up from $ 126.91 billion in 2021, according to Research and Markets. Companies like DoorDash, Uber Eats, and GrubHub are big, fast-growing companies.
Still, knowing which service serves which restaurant or whether the restaurant had its own delivery service was nearly impossible until FoodBoss, an all-in-one online food and alcohol delivery search engine that includes data from food service companies. The company is the brainchild of Michael DiBenedetto and Liam Hession.
“I entered consulting after business school and like a lot of consultants do; there are late nights and you order food while you are working in an office, ”says DiBenedetto, co-founder and CEO of FoodBoss. While trying to order food, he and his colleagues began to wonder which restaurant was working with which food delivery service. DiBenedetto thought there must be a service like Kayak (the Travel Finder Aggregator) for food delivery, but none existed at the time.
DiBenedetto believed that the idea of developing a food delivery search engine was a simple but compelling foundation for a business. He left the consulting world in 2015 to start working on the food delivery service aggregation app in 2015 and officially founded Chicago-based FoodBoss in 2016 when he connected with his co -Founder and now CTO, Hession to help build the technology behind the app.
The company started early when developing the FoodBoss app and DiBenedetto began to build relationships with the food industry to accept its service. “One thing I will always say is that there is a search engine in every industry except food delivery. There will be companies that want to work with us and gain users. And there are other companies that you might take a little longer to negotiate with, but we are in constant negotiations with all the companies. And we are looking to explore all opportunities to add them ”, says DiBenedetto
One of the challenges he faced was the fact that food delivery is already a low-margin business. Adding new fees to FoodBoss would be a tough sell. “It’s hard to really make a profit, isn’t it?” So you either have to increase the fees for consumers or increase the fees for the restaurants themselves, or the third option I always say is to find a good way to keep the cost of marketing low, ”says DiBenedetto.
Because FoodBoss provides highly trained researchers, restaurants could justify the service by reducing their marketing costs. “Consumers who come to our site are much more likely to complete an order than if that user came from a Google, Instagram, Facebook or Pinterest. We always say that we are partners with restaurants and third-party companies and competitors over other digital advertising channels these companies might work with, ”says DiBenedetto.
As the company began to gain acceptance, DiBenedetto managed to attract private investors, including former McDonald’s CEO Don Thompson of Cleveland Avenue, the Chicago-based venture capital and accelerator fund that invests in food. , beverages and tech companies. “When he arrived it really solidified what we were trying to do because he has the experience, knowledge and background to understand the value of occupants,” says DiBenedetto.
While it’s still early days for the food delivery app industry, FoodBoss is growing nearly 30% month over month, according to DiBenedetto. “We are doing it by traditional means. We advertise on Google, Facebook, Instagram, even offline channels, direct mail, things like that. And one thing our great CMO Jori Ford is able to tell consumers is that we have the full picture. We have multiple delivery companies, as well as direct dining options all in one place, where you can see everything in a concise manner rather than having to travel to multiple locations at once. In addition, according to DiBenedetto, the app drives 30,000 to 40,000 consumers per month to their partners and the average order is also on the rise.
DiBenedetto grew up in the northern suburbs of Chicago in a family made up of several generations of entrepreneurs. “My great-grandfather came directly from Italy and started a business. And then my grandfather also started his own business. And then my dad started his own business. My brother started his own business. It’s definitely in the family. I guess there is ‘something in the water’ is the right expression, ”says DiBenedetto. He graduated from the University of Miami and then got his MBA from DePaul University. He started working as a consultant in a health consulting firm upon graduating from college.
DiBenedetto sees a lot of greenfields for the business to grow. The app recently added alcohol delivery to its research service, providing opportunities to increase its revenue through partnerships with alcohol groups, as well as expand into other categories.
“There are opportunities that we have based on our patents, which we can extend to grocery delivery and pickup. But at the same time, you really want to be diligent, focus on delivering and collecting food, and then expand it accordingly, ”concludes DiBenedetto.