MunchMoney Offers Exclusive Food Perks for Your Employees
MunchMoney is a company that offers employers an employee benefit in the form of the MunchMoney app, a platform that provides said employees with exclusive deals and discounts at 45,000 restaurants nationwide. I caught up with Co-Founder and CEO Chris Kane to learn more about how the platform works, as well as the current state and scale of the company.
How did MunchMoney come to be?
MunchMoney was started out of frustration. A few years back, when I graduated from college, I began working in the finance industry in NY. Funny enough, the biggest adjustment for me from college-life to the working-world was what to eat for lunch. Soon, I couldn’t stand to eat any more turkey or bologna sandwiches, and so I began to go out to eat almost every day.
However, by the end of each month, I was horrified by my credit card statements. I began looking for ways to save money on my eating spend and couldn’t find anything that would actually affect my bottom line. Whether it was restaurant loyalty apps or the antiquated employee “perks” my company offered, nothing moved the needle.
With my entrepreneurial fires being kindled for several years by that point, I decided to build a solution. After identifying a market niche, a monetization strategy, and initial sketches of an MVP (amongst many other things) my co-founders and I began putting together the pieces to what MunchMoney is today.
For those who don't know, what is MunchMoney?
MunchMoney is the easiest and most cost-effective way for employers to reward their teams through food perks. Employees can easily save over $100 per month through access to exclusive large deals & discounts at 45,000 restaurants nationwide, via the MunchMoney app.
For $1 per employee per month, employers can give their employees a benefit that makes a tangible difference in their daily lives both in and out of the office. With food perks that you can't get anywhere else, MunchMoney deals are the best you can get for your money.
They all eat. The way to somebody's heart is through their stomach!
How does it work?
MunchMoney is an employee perk that companies can offer to their employees as a way to help them save over $100 per month on their eating spend. Once an employee receives access to the MunchMoney platform, they will see all the deals from the restaurants around them. To redeem a deal all a user has to do is go into the restaurant and order their food and then just show the redemption screen at the time of purchase.
For an employer, they have their own online portal where they can manage their account and the employees who have access to MunchMoney.
How big is the team? Any positions you're looking to hire for in the coming months?
We’re currently a team of 3 co-founders and a board of advisors that highly engaged with us.
We’ll be looking to hire for B2B sales roles in the coming months. Specifically for the greater NYC area.
What kind of success have you had?
We successfully launched MunchMoney in February 2019 with a 45,000 restaurant location network encompassing all major metropolitan areas and are onboarding new employers of varying sizes every week. We’re bringing on several marquee clients which will be announced soon.
Furthermore, we recently won Innovate Long Island’s Innovator of the Year award in our sector.
Where does the company go from here?
From here, it’s all about scaling up:
Growing our employee user-base in each city and adding further restaurant depth as we go.
Implementing new features and functionality.
Building our community
Hiring, building our team
Raising seed round
In addition, as Mr. Feeny of the 90s show Boy Meets World said “Do good”; we believe that integrating a “Do good” mission into the company is part of our corporate responsibility. MunchMoney’s mission is to help people get the most value on their food spend, and not just the employees of our clients. Through gov’t and other organizations, we will help lower-income folks get more for their money and have access to the food they often wouldn’t be able to afford. Provide a way for the homeless to have consistent meals outside a shelter. And to help change food stamps by giving people an additional, efficient option to receive aid.
Any final thoughts?
MunchMoney is available for $1 per employee per month for companies across all industries.
Learn more about MunchMoney at www.munchmoneyapp.com.
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