Market Research & Entry
The challenge
Storyous is a company that aims to reform gastronomy by using new technologies. Their business is growing wider every day. In order to their growth strategy, they wanted to reform POS systems in Turkish HoReCa sector. They got in touch with us in order to learn the status and the oppurtunities about Turkish market.
The solution
Plan: After having two weeks with meetings and mails on needs, questions and answers, the plan was prepared. The plan was consisted of 3 main chapters : market feasibility, market entry and budget and timeline.
Implementation : After a month, it was time for presenting the plan. Under the chapter one, we presented the economics facts and figures since 2000, legal regulations, big picture of HoReCa industry, players in the market and propensity towards Czech software. While preparing the report, we visited several restaurants and cafes on Istiklal Avenue, Taksim and on Kemankeş Street, Karaköy. We observed the systems, asked questions to the waiter/waitress and the owner how their system is providing their desires and needs. After these visitings, we act like entrepreneurs that planning to open a restaurant and asked for offers from the popular companies. Besides asking offers, we also asked their opinions on the features that Storyous is providing. As the regulation on POS systems and the machines in Turkey has been changing, we had meetings with authorities and learned more about the regulations in Turkey.
The Result
Regarding their expansion strategy, the company decided not to expand their business into Turkey in 2016.
About the Company
Storyous is a company that aims to reform gastronomy by using new technologies. They started developing their own cloud-based POS that links restaurants and customers more tightly. Today, they have around 1 190 clients and they have the second biggest share in the POS market in Czech Republic.
