17:25:13 EDT Sun 19 May 2024
Enter Symbol
or Name

Perk Labs Inc
Symbol PERK
Shares Issued 192,975,860
Close 2022-05-31 C$ 0.025
Market Cap C$ 4,824,397
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Perk Labs signs LOI with SoyTalk for custom app

2022-05-31 17:37 ET - News Release

Mr. Jonathan Hoyles reports


Perk Labs Inc. has signed a letter of intent with SoyTalk Dessert Inc. setting out the general terms and conditions on which Perk will build SoyTalk a custom-branded app.

"We are more than thrilled to work with the great management at SoyTalk on building a powerful custom-branded app for their establishment featuring ordering, payment and loyalty, that will help them directly connect with their customers," said Perk's interim vice-president of sales, Justin Strange. "We have many other restaurants in our pipeline that are really excited to partner with us and we are pleased to see such a high level of interest. During the COVID-19 pandemic, many restaurants were forced to depend on third party delivery providers that are prohibitively expensive. Third party delivery platforms were the only way for restaurants to engage effectively with customers during the pandemic and our custom-branded app product is an economical and profitable way for restaurants to have the same level of engagement with customers without having to sacrifice 30 per cent of every order.

"Restaurant profit margins have been under serious attack for quite some time now, so these heavy commission fees really place the restaurant owners in a difficult situation. Our product is designed to rescue restaurants from the dependency on the third party delivery apps that charge so much and help them bring in new and old customers without the expensive unsustainable fees. As well, our custom-branded app does not distract customers by showing them the other many restaurant menus and promotions that are within the third party apps and keeps them focused on the wonderful offerings of the restaurant with their own custom-branded app. Third party delivery apps encourage users to try many different restaurants, so they are not designed for loyalty to a specific restaurant or brand.

"Our custom-branded app offering provides restaurants with a direct pipeline to their loyal customer base, a tremendous evolution for restaurants going forward. They will have the ability to take back control of their direct communication with customers, offering a better experience with more control of their exposure and branding. Our 'Restaurant Rescue' program is designed to help restaurants disconnect from the addiction of third party apps and regain strong and meaningful relationships with their customers. We are building our technology for the future of hospitality: affordable solutions for restaurants with no strings attached," added Mr. Strange.

Perk's custom-branded apps are built on the Perk Hero platform and leverage its downloadable merchant app, merchant Web portal, and powerful features such as mobile ordering, contactless payment, digital wallets and loyalty. The utility of custom-branded apps is supported by a recent consumer data survey of U.S. restaurant customers who use some form of technology when ordering food found that 67 per cent of respondents preferred using a restaurant's own app to websites or food delivery services. Further, a recent State of the Industry report from the National Restaurant Association states that, "Many operators will devote their resources to online or app ordering, reservations, mobile payment, or delivery management, in addition to back-of-the-house technology."

"We see custom-branded apps as a significant immediate software-as-a-service revenue opportunity for Perk," said Perk chief executive officer Jonathan Hoyles. "I'm proud to see our sales and marketing team successfully deliver on signing up restaurants. We've invested considerable time and effort into our Web-based 'Digital Dine-in' product and custom-branded app offering. Both products are valuable tools for restaurants to better serve their customers and streamline their business. Our sales and marketing team is now laser-focused on signing up customers and placing these valuable tools in the hands of restaurant owners."

About Perk Labs Inc.

Perk Labs is the owner of Perk Hero, the mobile commerce platform on a mission to empower business owners with the digital tools to provide their customers with experiences that are more engaging, convenient and rewarding. Perk Hero is growing through a unique community-driven digital franchise business that is available to entrepreneurs at an attractive start-up price.

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