TableXchange.com lets you sell restaurant reservations .
September 22, 2007
TableXChange is exactly what the name implies - a website that helps people secure hard to get reservations at some of the most exclusive restaurants. Want to impress by taking a date to Il Mulino’s to sample the divine Italian food of Chefs Fernando and Gino Masci but didn’t think to book ahead? If you’re lucky then you can buy someone’s existing reservation - the price for a secured reservation for two this Friday at 8pm is $35 bucks. Not too outrageous when you consider that’s the cost of three jars of Pomodoro Pasta Sauce through Il Mulino’s website.
Business Model:
Sellers can list as many reservations as they wish on TableXChange. There is a $40 cap on the amount that they can charge reservation ‘buyers’. How does TableXChange make money? Simple, for every reservation ’sold’ TableXChange makes 12% of the agreed price. If the reservation does not sell, no harm no foul, it was free to list and the failed ’seller’ does not owe TableXChange any cash at all. So, sell a reservation for $30, then TableXChange takes a $3.60 cut. You get $26.40 - not bad since you didn’t actually pay anything for the reservation - just five minutes on the telephone. Even at AT&T rates - that’s still a pretty good deal
Entry Filed under: Internet Startup. .
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