In The News: New Restaurant in Westdale Offering Subscription Service for Food
Food based subscription services are nothing new, but a new restaurant in Hamilton is now trying out the model, offering discounted food prices on burgers and pizza.
People can subscribe to grocery delivery services and streaming services, and now Hamiltonians have the option to subscribe to a restaurant called Matamak, located in the Westdale area.
Brent McKnight from McMaster University says there’s a lot of potential for this niche business given it’s proximity to a school.
But it comes down to the volume of customers and reoccurring revenue streams.
“When you have really low prices, that means you have to make up your profit and margins which would be small on each individual sale by selling a lot more of a particular item,” McKnight said.
He says it’s important for this business to hone in on community building to make people feel part of club and feel more inclined to use their membership more regularly.
Read the full article published in CHCH News.
Brent McKnight
Associate Professor, Strategic Management
Director, Integrated Business and Humanities
Dr. McKnight studies how firms and organizations address complex societal problems. Currently this interest has led to him to undertake research in the areas of responsible investing at the retail advisory, the role of firms in community resilience and adaptation to climate change induced natural disasters, and how non-profits and firms can improve integration outcomes for refugee newcomers. He is also studying non-profit and main-street retailer responses to COVID . Throughout his work, Dr. McKnight is driven by a fascination both with how firms bounce back from substantial adversity and in the increasingly important role that firms play in building community-level resilience across a range of shocks and disturbances. In Dr. McKnight’s research, resilience plays an important role in conceptualizing a firm’s pursuit of sustainability; resilience taps into the essence of what it is to be sustainable over long timelines.
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