Question 1

Restaurant:

Do you invest in restaurants?

Answer

inKind doesn't take any equity in your restaurant, we take food and beverage credit, which we sell to people in your local community.

Question 2

Restaurant:

What is a House Account?

Answer

A House Account is an amount of food and beverage credit that is redeemable at your business - it allows guests to prepay for multiple visits. When someone buys one, they are prompted to enter information about their dining preferences, so the next time they come in, you are notified with that information to give them a more personalized service.

Question 3

Restaurant:

What are pre-funded sales?

Answer

We can provide you with six months of House Accounts sales, upfront. You can use the money for new equipment, an expansion, a renovation project or just some working capital. We then sell the House Accounts over six months to pay ourselves back.

Question 4

Restaurant:

How long does it take to get pre-funded?

Answer

We require a few pieces of information prior to providing funds (such as access to your Facebook page). Once you get us these, we can fund within 24 hours.

Question 5

Restaurant:

What do you charge?

Answer

If we pre-fund your sales, we take a bulk amount of food and beverage credit and then sell to people in your local community to pay ourselves back. If we just provide our technology, we charge a monthly subscription fee, which we take as credit to your restaurant.

Question 6

Restaurant:

Can you fund my restaurant if it isn't open yet?

Answer

We can fund new restaurants once you are within 30 days of opening. In this pre-opening period we will market House Accounts to your friends and family who want to support you. We can start marketing to local people as soon as you are open and they can come and try you out.

Question 7

Restaurant:

What countries is inKind available in?

Answer

We currently work with restuarants in the US and Australia.

Question 8

Restaurant:

Do you integrate with our POS?

Answer

All you need to do is add a tender type to your POS for "inKind House Account" and you are all set.

Question 9

Restaurant:

How do we track credit used in-store?

Answer

The inKind Manager's App allows you to see all credit used, as well as credit remaining at the click of a button. You can also run reports detailing credit usage over a set period of time.

Question 10

Restaurant:

How long does the credit last?

Answer

The paid portion doesn't expire, the promotional portion expires in 3 years (so if someone buys a $500 House Account that gives $600 in credit, $500 of credit will never expire and $100 of credit will expire in 3 years).

Question 11

Restaurant:

How do you know when a House Account holder walks in?

Answer

We send you a small piece of technology called a beacon. Hide it near the front of your restaurant and when a House Account holder walks in, the beacon detects the inKind app on their phone and sends you a notification.

Question 12

Restaurant:

What information about a House Account holder do I get when they walk in?

Answer

We pull a picture from their social media accounts, or ask them to upload a selfie, so you know what they look like. You'll also see their name and last visits and then dining preferences such as their favorite cocktail, their ordering style (adventurous or stick to menu), and any allergies.

Question 13

Restaurant:

How do House Account holders help increase my revenue?

Answer

Through our app, we encourage House Account holders to refer their friends to your restuarant and suggest you as a venue for private events coming up.

Question 14

Restaurant:

How do you sell the credit?

Answer

We sell through a combination of social media posts, targeted emails and in-store (providing you with full color flyers to hand to guests, and training your staff to talk about House Accounts).

Question 15

Restaurant:

Are we responsible for selling the credit in-store?

Answer

We will work with you to sell House Accounts in-store - (i) providing your staff with flyers to hand to guests or leave on tables, (ii) tips on how to talk about House Accounts and (iii) the best moments to suggest one to a guest.

Question 16

Restaurant:

What happens if the credit is not sold in 6 months?

Answer

Each week we have a goal to ensure that by the end of 6 months, we have sold enough credit to cover the funds we provide you with. If we don't quite hit a week's target, we ask you to make up the difference.