Stage: Revenue generating
Number of employees: 1-5
Short URL: vator.co/edrinkit-generating-buzz-for-venues-patrons
eDrinkit.com features deals focusing on nightlife and social activities from bars, nightclubs, and restaurant. We ENABLE AFFORDABLE SOCIALIZATION by offering our customers discounts of 50-90% off drinks, VIP bottle service, cover charge, as well as other deals like limos, party buses and our signature eDrinkit tours.
eDrinkit offers daily deals specific to drink specials for two keys reasons. First, the unique business model, professional relationships, and keen understanding the founders have of the hospitality industry enable eDrinkit to reach key clientele via prominent promotions companies within each metropolis. Second, the huge margins found in liquor allow eDrinkit to offer spectacular drink specials, while ensuring participating merchants a cost free advertising solution. Not only is there no initial investment for merchants, but they also don’t have to worry about taking a financial loss on each deal purchased, as is the case with deals through other sites like Groupon.
One key element to eDrinkit’s business model revolves around the ability to secure drink deals with popular or exclusive establishments that no other group-buy website can get. Given the experience of the founders within the nightlife market and their understanding of clientele most posh venues expect, enables eDrinkit to gain the confidence of such venues that ‘who we market’ and ‘how we market’ will be within their desired demographic. By collaborating to create an offer that not only provides increased traffic, but creates instant revenue for businesses, eDrinkit can offer a 40-60% cut to participating venues and still realize a profit. The likelihood of customers purchasing more drinks (other than those promoted) is quite high, coupled with the high profit margin of mixed drinks/liquor translates into considerable revenue for participating businesses.
eDrinkit works closely with local promoters in each market through strong relationships and a vast network built within the industry across the nation, which provides an advantage none of our competitors can replicate. These relationships within the industry allow us to specifically target our offers to a particular demographic based on age, gender, style, location, etc. each business desires.