Feedplan with Win Feigle feature #24 of Together Talks
- KLS
- May 11, 2023
- 5 min read
Updated: 6 days ago
"Together Talks" feature # 24: Feedplan presented by KLS, freight company
Some background on Feedplan
Feedplan was created by Win Feigle. The company is a meal subscription plan from your favorite restaurants across the country. Win started the idea back in September 2021, after roughly 18 months of working on it, the app is ready to launch in Q2 of this year. Win runs the company, but is supported by a development team and an advisory panel that spans the tech, restaurant, and communications industries. The company is aiming to secure restaurants in the "fast-casual"space.
Meal Subscription Plan
Win came up with the idea due to his lifestyle. A former athlete, nutrition has always been important to him, but also accessibility. As he told us, "The other companies don't work for my schedule. On my long days there isn't time to prep, cook, eat, or clean up. You look at Hello Fresh, Blue Apron, etc those are very tiny meals, I'd need 2-3 to fill me up for one sitting plus all the work involved and they aren't cheap. Those aren't an answer for me, so it got me to thinking." We continued talking and he mentioned that the genesis dated back to his collegiate days being an athlete. "Think of our service as your college meal plan". He told us the goal is to remove the time and decision-making for meals. "Given my schedule, I'm eating out 3x a day, that is 3 decisions I have to make every single day. Why can't I just have access to a subscription model that gives me that flexibility and offers me savings."
That is how Feedplan was created and why Win is so confident it can work
Why Can it Work?
Win said us the simplest answer is it is in the data..."77% of Gen Z and 81% of Millennials answered they are interested in pre-paid subscriptions through restaurants. That means 80% of adults ages 18-40 have a demand for this service."
The numbers don't lie.
The app plans to target that specific demographic who eat out multiple times a week or are on the go. We asked Win, why has no one else done this or have they? "After 12 months of research I found Mealpal which is the most comparable. They are primarily in New York, but their structure is different. You can access prepaid meals through their app, but only for lunch, only M-F, and must request the meal 24 hours in advance, AND only at participating restaurants on that day." While it is an option for some as he explained it, certainly there is a lot of meat left on the bone. "Their service doesn't help me here in Colorado. You have to be very organized to remember to request your lunch the day prior and it is only what is offered. I thought there was a more customer-focused approach, hence Feedplan."
He also told us how unique it is compared to our current options which are mainly just 3rd party delivery services like Uber Eats, Doordash, etc. Once again the answer was in the numbers...
"Those types of services take 15% off the top of restaurants. Most restaurants operate on an 8-10% margin. It isn't feasible. What we are creating there is zero margins off the restaurant. It is a BRAND NEW revenue source for them. And restaurants will love it because they have the profit right away similar to a gift card."
We had to follow up logically, with alright "where does Feedplan make money"? Win told us the customers who download the app pay $5/month. From there they can sign up for any subscription they want. Everything is tracked in the app for them for the month. See below picture from their website for an example.
As he said, it is a college meal plan for adults. The best restaurants we want at our fingertips, discounted! Remove the worry of where will I eat tonight because you'll have pre-purchased meals from your favorite establishments, genius!
The most amazing part of our interview with Win was when he told us about the prototype for Feedplan and how it involved Qdoba.
"In the early days of the app, I was able to get the attention of Modern Restaurant Concepts CEO (parent group of Qdoba, Modern Market, and Lemonade Restaurant) by pointing out a glitch in their app that had allowed me to use their restaurants as a cheap meal-plan system for months, which led to the idea behind Feedplan. After discussions with them, they were interested in partnering and assisting in the launch of the Feedplan app, their VP of Marketing is now an Advisor."
AMAZING!!!
Changing Fast-Casual Experience
Ultimately what Feedplan will do is partner with restaurants across the country. Win advised us it is up to the restaurant to determine which locations will participate, which items are offered, and the meal plans/price points. He described it to us like this, "Let's imagine you currently go to somewhere like Chipotle and spend $15 for one meal. The goal of Feedplan would be to set you up with 4 meals for say $40, or 10 meals for $120, whatever they choose to be the pricing. But the beauty is you choose how many meals you want for the months and then those are yours. You can redeem them all at once, 2x a week, every Sunday, whatever works for you."
We asked Win where the struggles originated from? "Time management and being a solo founder. I have an amazing development team, but finding the right individuals to join the team on the non-development side has been a challenge." We also were curious as to the implementation for when it goes live, which restaurants (dying to know)? He told us that the goal for 2023 is to have 100 restaurant locations active on the app. We followed up by asking, how realistic do you feel that is and were shocked when he told us, "The waitlist is over 1,000 as of now" INCREDIBLE!
Win definitely came across as a highly intelligent and motivated person and one who does not skip steps. We were curious about what led him to this and were astounded to hear his story. He told us he has already started and SOLD 2 companies, but wait that isn't even the best part. Both were started for under $1,000 and he sold each for over $100,000.
Going to give you a second to digest that one...amazing.
He told us that put him through college but he always has had the entrepreneurial pursuit, yeah no kidding! But he told us this time it is different, he has skin in the game this time.
So we had to know given his previous business acumen why risk it all in a start-up? "The idea came to me because truthfully it pissed me off having to decide where to eat 3x per day. I saw a need for a service for myself and knew there are countless people out there in a similar situation who would utilize this service. It was a no-brainer for me." His passion and confidence never wavered in our chat either. We asked him if he has a favorite moment and once again it involved his athletic days, "It reminds me of training 9 months for that first game of the season and getting a win. So much work, effort, and sacrifice goes in but you understand what it takes to succeed. That is the mindset I have with my company as well."
In Closing
We are thrilled to have interviewed Win and learn about this incredible new start-up. We are beyond excited to keep tabs on Feedplan as the launch happens in mere months! KLS is grateful to feature Feedplan on today's edition of "Together Talks". Keep up to date on all the recent announcements from Feedplan with their social accounts listed below.
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