Business

Potential in Market

High demand of Asian cuisine gives vast market.

Total Available Market：
Over 1 million restaurants in the U.S.
Revenue: $659 Bn
Serviceable Available Market：
Over 40,000 Chinese restaurants in the U.S., even more of other Asian cuisines.
Revenue: $15.4 Bn
Serviceable Obtainable Market：
12,000 Chinese restaurants; 30% of SAM
Revenue: $120 M

Customer Acquisition

Ads in Chinese media and newspapers in the U.S. in publications, including The China Press, ChineseInLA, etc., and social media

Source: The China Press NY
Source: Chinese In LA

Individual pitches to Chinese and Asian restaurant owners

Source: Menu Sifu
Source: Chowbus
Source: Cloud Kitchens

Partnerships and sales with restaurant businesses, such as Menushifu (POS system), Chowbus (Chinese food delivery service), and CloudKitchens (ghost kitchen)

Source: Mitsula

Collaborations with large restaurant groups, such as Panda Restaurant Group, PF Chang’s, and Benihana

Source: Panda Express
Source: P.F. Chang's

Business Model

We profit from selling cooking robots and charging subscription fees.

MiFood Tech is developing intelligent cooking robots that fit the needs of Chinese restaurants in the U.S. We are researching and developing an automated cooking wok, including a turbo cooking wok and tossing cooking wok. Later, we plan to develop automatic chopping machines and dish-serving machines integrated with Internet of Things.

Software will also be developed to connect and program the intelligent hardware together and to manage orders from dine-in and take-out.

We will sell the automated kitchen solutions to Chinese restaurants in the U.S. According to customers’ needs and wants, we can customize our products to meet customer satisfaction. The price of an automated cooking robot will be between $6,000 to $12,000, based on the analysis of our competitors’ prices. The cost of manufacturing the robot is 35% of the sale price. The managing software is charged by subscription. We plan to charge $99 per month to our restaurant customers.

Source: Doordash
Source: Uber Eats

Why MiFood?

Restaurant Benefits

Using our machines, restaurants only needs staff to prep and place ingredients into our wok ingredient boxes and serve dishes onto plates. The savings from reduced cooks will be significant. Our next step is to develop robots to reduce labor for ingredient preparation and dish serving.

Here is an approximation of the savings in labor costs by using our intelligent woks. Restaurant owners can benefit from their investment in the first year and save more in the following years. More than 70% of labor can be replaced by robots. Cooks will have time to prep instead of standing in front of the wok. Only a few minimal steps need to be done by a cook.

Core Competence among competitors

We are the only Chinese restaurant automation solution provider in the U.S.

Compared to other companies in the market, we are dedicated to automation technologies for Chinese restaurants to address their challenges with labor and cooking standards. Besides using our built-in recipes, restaurants can easily program our robots from the graphical user interface to cook their signature dishes. Our system can save money for restaurants with reduced labor, training, and set-up standards which is essential for business growth. With less time spent on repetitive work, chefs can innovate new dishes and improve the quality of their cuisine.