A year into trading, we caught up with TangoTab to see how successful their buy-one give-one meal deal model has been.
There are many businesses that offer restaurant deals to hungry bargain hunters. However, TangoTab stands out in this crowded market because of its social focus. Specifically, for every coupon used by a TangoTab user the company will feed a homeless person. The company has formed partnerships with a number of restaurants and has seen business go from strength to strength since starting out in April last year. This is proven through the amount of meals they have been able to donate recently. Vice President of the company, Mike Yonker, says: ‘During the month of August we will be donating our 100,000th meal since the beginning of January.’ They have expanded their remit: ‘Our user base has grown substantially beyond our original base in Dallas, Chicago, New York and LA, we have expanded to Fort Worth and Oklahoma City’. The company has also seen an increased level of interest since Springwise first featured them back in July. ‘We have been getting customer and other press and media emails referencing the great article and video that you posted on TangoTab. It’s been a great catalyst for more interest.’ Cannily, they have also been encouraging their users to share the initiative on their social networks – this not only promotes the company, but increases the number of people being fed on a regular basis. Their tagline is ‘If you can feed a child, your network can feed a village’. Further moving with the times the company are soon to launch an Android app alongside a Facebook app to allow their diners to register for discounts on the go. Matt feels that the key to success has been simple: ‘We are solving a real business problem at restaurants while helping consumers and an important local cause. It’s a win-win-win.’ However, the main challenge the company has come up against is meeting consumer demand. As Mike puts it: ‘Developing expansion plans to keep up with the interest we are hearing from around the country.’ As a result, Mike has found that a flexible approach has served him best in meeting this demand. ‘It’s important to stay nimble and adapt to what each market requires.’ TangoTab plans to move their initiative into new cities in the coming months, and is preparing to make an announcement to this effect in the near future. In the mean time, they continue to increase the number of deals they can offer to the public and as a result can donate more meals to the homeless. TangoTab provide a good example of the success that can be reaped from a simple business model executed effectively. You can read more about the TangoTab here or visit the TangoTab website here.
3rd October 2012