Once you take a look at Just Kitchen’s exceptional growth and genius business model, you’ll understand why this party’s just getting started.
And, how this small cap company could be one of the most explosive tech stories of 2022.
Step on into the ghost kitchen
It’s food delivery’s hottest trend. Ghost kitchens are food prep operations with no waiters, no dining room, and no parking lot – really, no public presence whatsoever. But they can be readily found on food delivery apps.
They are physical spaces for operators to create food for off-premises consumption. They can run on a royalty model. Ghost kitchens also prepare dishes for multiple restaurants and/or franchises.
Staff are given recipes and trained to create the meals that are delivered to the consumer, typically through a 3rd party like Uber Eats drivers.
This is great for restaurants who can now expand their deliveries to distant parts of a city, they save on delivery costs, and they save a boat load on renting and staffing new locales.
The customer can order on-demand. Everyone’s happy. Mega win/win!
While other “ghosters” are busy doing their thing, the brains behind Just Kitchen took this business model and amped it up to unbelievable proportions.
They call it their “hub and spoke” model and its pure genius.
What they do is have a central hub where food is semi-prepared and blast frozen. This is delivered to the spokes early in the morning where they do the final prep and heating.
This allows Just Kitchen’s clients to cover much more territory than normal and scale to new areas without the need for another locale. And they absolutely love it.
Not only can they cover more territory but because the spokes are efficient finishing kitchens, there capital cost and operating costs are substantially lower than a traditional ghost kitchen and the finished food can be completed and delivered to the customer far quicker resulting in a significantly better dining experience and better ratings.
But they don’t stop there. Just Kitchen has developed a proprietary data stack that helps clients better plan menus and anticipate demand.
This company has it all
Just Kitchen’s tech stack optimized ghost kitchens by:
Improving supply chain management, aids marketing and development of new brands
Providing predictive analytics through data aggregation from multiple sources
Leveraging data for agile business strategy development
GPOPlus is even disrupting GPOs?
This Las Vegas-based company is not your run-of-the-mill GPO. The company is wisely carving out a piece of this gargantuan GPO market by identifying underserved industries, segments, and markets then developing specific GPOs around them where there is little to no competition.
The love for this model by small business is flowing. That’s because GPOPlus has low minimum order quantities (MOQ) which enable small and mid-sized companies to participate with larger corporations. Finally a level playing field for the little guy!
This is not a company leading guys on scooters. This is a powerful business with massive profit potential and a very savvy leadership team. You definitely do not want to underestimate how quickly this company can move.
Right now the company is concentrating on the Asian market which is absolutely booming. Right now they are doing business in Hong Kong, Taiwan, and the Philippines. Soon they will be adding Japan, Singapore, and Malaysia.
In fact, food delivery in Asia grew an astounding 183% from 2019 to 2020…and has not slowed down!
The southeast Asia on-demand food delivery market is growing like wildfire.
There’s no question Asia is modernizing at a rapid pace. Frost & Sullivan estimated gross merchandise value (GMV) of $15.15 billion in 2021 for on-demand, doorstep food delivery services catapulting to $49.72 billion in 2030.
Now to-go orders can be placed right from TV…who’s hungry?
Television is filled with food commercials. Delicious food. Temping. Tantalizing. Now that food can be ordered with the click of a button.
This mega-convenience is due to the company’s JKOS technology integrated with the Android TV-compatible HAKOmini set top box device which is extremely popular in Asia.
This shrewd business move opens up Just Kitchen’s market potential big time.
How big? Over 20,000 HAKOmini units have been sold to date, with over 64% of owners being active daily users.
Holding 49% of the market, Android TV dominates viewing in Asia.
According to Strategy Analytics, over half of the world’s 1.1 billion televisions will be smart-enabled by 2026, while Rethink predicts that Android TV will have a 25% share of the smart TV and TV-connected devices market by 2026.
This represents inroads to a prospective market of 236 million of 905 million devices.
That’s how big…in fact the chart below shows how fast Just Kitchen is growing their business…it really is phenomenal.
This could be a bigger than big opportunity. Just Kitchen is in talks with convenience store giant 7-Eleven in Taiwan.
When you think of Taiwan, the first thought that comes to mind is not 7-Eleven. However, 7-Eleven has become such a national craze that it has become a stable part of many people’s lives.
In fact, Taiwan has more than 10,000 convenience stores, or one per approximately every 2,000 residents, the highest density in the world, according to industry statistics.
And 7-Eleven makes up more than half of those stores with at least 5,647 according to Statistica.
The business opportunity for Just Kitchen is very clear by the fact that Taiwanese customers choose convenience stores by a whopping 84%.
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Leading offline shopping channels used by Taiwanese consumers
Not only does this provide Just Kitchen a larger presence in Taiwan, but this deal has the real potential to generate significant revenues.
While there are no guarantees a deal will be signed if it were, it has the potential to be very significant to its business and could unlock similar deals in other Asian countries.
Keep your eyes on their PR for that one. It could be an absolute game-changer.
According to numbers from Simply Wall Street, Just Kitchen had about $20 million in cash assets exceeding its long and short-term obligations.
Now think to yourself, this company started doing business in Q3 of 2020. That’s quite a fast cash build. Simply Wall Street also reports the company has over 2 years of free cash flow.
Even better, Simply Wall Street shows Just Kitchen’s revenue is estimated to grow by 68.4% per year which better than the industry average of 18.7%.
Of course as a young business, nothing is ever guaranteed. But one has to be impressed at what Just Kitchen has accomplished to date and enthusiastic about their future.
Add to the mix an amazing management team and Just Kitchen is a company you definitely want to get on your radar right now.
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