Question 1

how do you see yourself competing with the truckbux app?

Accepted Answer

Hey Judah, Great question. They're on our radar and offer a similar product, for sure. Their business model seems to be focused on locations and orders via their app. Besides location and mobile ordering, we have built into our apps some unique features that allow foodtrucks to proactively market themselves to local users, and gives users more engaging features, making it 'stickier'. We've also built out catering and scheduling generation and management revenue streams, and we offer tiered me...

Question 2

Your financials seem to obscure development costs. What were you app development costs for 2018 and 2019?

Accepted Answer

Hi Marius, I appreciate that you're taking a deep dive into our financial operations. In our financials, you can see dev costs listed under Investing Activities in the Statement of Cashflows. The majority of investment into dev costs occurred in 2017 in the initial development of the platform. Investment into the software for improvements, new features, and maintenance was $20,878 in 2018 and $20,596 in 2019. These amounts are in line with what had been projected for these efforts. We're cont...

Question 3

Hi .. A couple of questions. (1) As you move into ordering will that result in you needing a customer support presence to deal with consumer problems. (2) Is your system built to be available & scalable to provide an uninterrupted service.

Accepted Answer

Hi Jem, Great questions. At this time, we do not foresee the need for customer support for mobile ordering. We continue to provide support for software issues. However, we don't function as a middle-man (like Uber, AirBnB, etc), but rather as a connector, a tool (like Gmail, Ebay, etc). The customer and the vendor are encouraged to communicate directly. We anticipate that some customers will direct their communications to us instead of the vendor and we will increase support for this as the n...

Question 4

2 questions 1) This page says you had $18,815 profit in 2019. This does not subtract the development cost. Isn't the development and maintenance cost ongoing? Should it should be part of expenses and it be -$2000? 2) The 2019 Revenue shows $115068 in catering revenue. Does tha...

Accepted Answer

Hey Marius, Sorry for the delayed response to your questions. Dev costs are under capital investments. The software is an asset. Maintenance and server costs are expenses. These are listed as 'Technology Expenses' in the 'Operating Expenses' section. They're considerably less than development costs for new and improved features. Our financial statements were compiled by a CPA to ensure all finances are categorized properly, both for this fundraise and for annual taxes and internal review. For...

Question 5

What is your projected ROI for investors should the app take off? Are you thinking shares in the company or some sort of other dividend for investors?

Accepted Answer

Hi Stancliff, When you invest in us, we're using a SAFE as the investment vehicle. This converts into equity as shares. There's no telling what the future value of your investment will be, in terms of ROI, but if you think about Uber, Airbnb, Grubhub and other similar marketplace platforms, the multiplier on an early-stage investment is considerable! Thank you for the question. PS- for more on SAFEs, Wefunder has a great FAQ page: https://help.wefunder.com/#/contracts (If that link isn't clic...

Where’s The Foodtruck

We are a marketing platform, connecting foodies and foodtrucks

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