FAASOS is an Indian “food on demand” company that was incorporated in 2011. It is one of the fasted growing Indian Fast Food chain dominating the “Wraps/Rolls” segment. FAASOS drew their inspiration of wraps from the traditional Indian “Kathi Rolls”.
Operating in 10 major cities in India, FAASOS takes customer orders via its mobile app and online. Currently it is the only vertically integrated food business in India that operates on all three stages of a food demand business: ordering, distribution and order fulfilment.
The idea was to have outlets at strategic locations across cities in India that could serve customers looking for quick and healthy eating-out options.
FASSOS receives 10,000 orders a day across India and has recorded a growth rate of 20-25 per cent month-on-month. Today, they are also famous for taking order via Social networking sites and their Sartorial marketing campaigns.
Vision: FASSOS main aim is to become the largest and best-in-class ‘Food on Demand’ business in the country.
Mission: When you ask “What’s for Dinner today?”, we give you the answer and deliver it to you in no time.
FAASOS raised Series A funding from Sequoia Capital in FY12. In the beginning of 2015, FAASOS raised $20 million Series B funding from Lightbox Ventures and Innoven Capital.
Today, one can order delicious Daily Specials from their App bit.ly/faasosapp in 10 cities of India: Gurgaon, Delhi, Bangalore, Pune, Mumbai, Chennai, Indore, Ahmedabad, Baroda and Hyderabad. Very soon they intend to be in every corner of the nation.
THEIR STRATEGY: SOCIAL MEDIA
FAASO’S always had a focus on tech. It was probably the first company in India to start taking orders on Twitter. They pioneered the “Tweet-to-order” mechanism. All you have to do is tweet your order and the order is delivered to your home, all you have to do is – be a registered customer FAASO’S maintains a call centre, takes orders on the web. FAASOS also introduced interesting twitter campaigns for special occasions like Navarattri, Rakhi and very recently Teacher’s Day.
They also came out with a dedicated app. The app has 800,000 downloads and they expect to hit a million downloads in a couple of weeks. “We are doing 12000+ orders a day, we sold 8 lac products last month alone,” says Jaydeep. More than 90% of the orders for FAASO’S come via the app and the company is likely to shut down the website soon.
One of the biggest developments from FAASO’S was the expansion in terms of offerings for different occasions (breakfast, lunch, dinner, snacks) and rolled out breakfast as a test project. The results encouraged them to take the project out full-fledged. FAASO’S started tying up with vendors providing local specialities and integrated the product in their offering. For instance, FAASO’S started having the best Biryani wallah on their platform for a user browsing via the FAASO’S app in Hyderabad or having the capability to deliver a Chettinad Dhosa for a person in Chennai.
“Think of our app as the homepage of a Netflix or Amazon, but for food. We can pop up a personalized menu for individuals which is customized with offerings from around them,” says Jaydeep. FAASO’S is developing their supply chain in a way that the offering can become a ‘personal kitchen on a mobile app’.
FAASO’S is operational in 10 cities and plans to open in 15 more cities. All current cities are up to speed on local sourcing as well as central sourcing. FAASO’S serves via 120+ locations across these 10 cities. As of now, Pune, Mumbai, Bangalore, Chennai and Ahmedabad contribute 80% of the orders. The company is on track to hit more than INR 120 crores in revenues this year.
They are currently working on building something totally different – a hyper local food on demand play where they control everything from ordering to food to delivery – a personal kitchen on our app. The advantage FAASO’S has that it has a strong offline supply chain and presence which has enabled them to generate revenues with bigger margins. With the likes of Ola getting into food delivery, more and more logistics companies getting funded, the food-tech segment is wide open and FAASO’S stands a good chance of having a strong say in the market.