In 2023, the food service industry is projected to touch $997B in sales. If you've always wanted to break into the restaurant industry, this is the perfect time to capitalize on the opportunity.
But wait, isn’t building a business from scratch a huge financial burden?
The answer is yes. But we are not asking you to start a restaurant or build a restaurant tech product. What we are saying is, make the most of reseller partner programs — where you can make profits from the industry's rapid growth rate, without assuming the risks typically associated with entrepreneurship. Becoming a reseller partner is an attractive prospect for restaurant consultants, suppliers, POS companies, and anyone passionate about the industry.
As a reseller, you will generate a lucrative income stream, build a reputation by partnering with a trusted brand, and benefit from the knowledge and expertise of the company you partner with.
In this article, we'll delve into the benefits of reseller partner programs, and give you some valuable insights on how to navigate this growing market.
9 Benefits of Reseller Programs
1.Reselling helps you get into the market without trial and error
Whether you think of Microsoft, Oracle, or Hubspot, 57% of organizations rely on partners to acquire new customers. Strategic partnerships allow tech businesses to expand their reach around the world, improve marketing campaigns, and generate more qualified leads.
In the same way, as a reseller, you too can tap into a new industry even with limited prior knowledge and experience. There is already a market available and the company has its own ideal customer profile, so it will be easier for you to gauge the market.
2. Resellers have a competitive advantage
When you become a reseller partner, you unlock a host of benefits that help increase your revenue. One such perk is getting access to competitive pricing—which means you can afford to offer an attractive discount to your customers. If two companies offer a similar set of solutions, pricing often becomes the key deciding factor.
As a reseller in the restaurant tech industry, you can stay ahead of your competitors by offering lucrative pricing and onboarding a bigger number of customers. Restolabs White Label Program allows you to set your own pricing that’s aligned with your business strategy.
3. POS companies can scale higher by becoming a reseller
63% of customers prefer ordering online from the restaurant over ordering from a third-party source, so restaurants with a dedicated ordering system have an upper hand. But creating a mobile app or a food ordering system is a big investment that not all food joints may be ready for.
Keeping this in mind, POS providers these days are going a step ahead and offering an online ordering system integrated with the POS. If you offer POS services to restaurants, you can easily address your client’s pain points and meet your revenue KPIs by partnering with Restolabs.
4. Reseller partners are different from affiliate partners
While it’s common to confuse the two, reseller programs and affiliate programs are quite different from each other. Reseller partners are fully invested in the customer relationship from the beginning till the end. They buy the product at a discounted rate and sell it with a markup, often under their own brand name. Affiliates, on the other hand, are involved only at the beginning of the buyer’s journey. Their income comes from commissions.
In the restaurant tech industry or the B2B space in general, reselling is more popular. Only 18.6% of all affiliate marketers are working in B2B, and the rest are in B2C.
5. Upselling drives growth for reseller partners
Instead of shopping from multiple service providers, customers look for a one-stop solution to their problems. A HubSpot survey states that 72% of sales reps who upsell say that it increases revenue by 30%.
You can take advantage of this by upselling the product or service of the company whose reseller program you have joined. For instance, if you’re a developer, web designer, growth/marketing consultant, or a supplier in the restaurant business, you can add an online ordering system to your list of offerings. As you already have a relationship with the customer, you know their requirements, so pitching and onboarding would be less complicated.
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6. Reseller partner programs offer priority support
In today’s competitive market, great customer experience sets you apart from competitors. When you offer a positive customer service experience, 89% of customers are likely to return to you the next time.
Partnering with a company like Restolabs will give you and your customers access to 24X7 priority support. So anytime your team members or your customers get stuck with a problem, Restolabs will have your back and resolve the issue at once. As a reseller, you will be treated as an extension of the Restolabs in-house team, and you’ll be equipped with a full-proof system to grow your business independently.
7. Reseller partner programs generate a steady revenue
Whether you’re an individual reseller or running a company, you want to have a steady revenue stream. This is something you can achieve by joining a reseller partner program.
95% of Microsoft’s commercial revenue comes from its partners, with more than 7500 partners joining the ecosystem each month. It’s evident that when you become a partner of a company that’s selling a high-demand product, you will have access to a huge pool of potential customers. With each sale you make, you’ll earn a portion of the revenue, creating a consistent source of revenue that can help your business thrive over time.
8. Partnering with reputed companies can fast-track your career as a reseller
Are you aware that 70% of B2B buyers give importance to a company's reputation while doing business?
If you're just getting started as a reseller partner, you may not have the credibility that your ideal customers are looking for. Partnering with a reputed digital ordering system like Restolabs will help you establish trust and build authority as a reliable reseller in the restaurant tech industry. And when you build trust, 62% of your customers will stay loyal to your offerings.
9. Resellers can focus only on sales and distribution
Developing a SaaS product costs more than $80K — yes, that's a lot of money. But with reseller partner programs you don’t have to make a hefty investment. They allow you to focus only on selling and distributing the product, without fretting about the tedious development process or overheads.
If you already have an existing customer base and network, you can start selling the product instantly. And in case you’re starting out as a reseller, you can study the company’s present customer profiles to derive insights and plan your strategy accordingly.
Final Thoughts
Thanks to the profitability, scalability, and ease of management, restaurant tech reseller partner programs are all the rage these days. To take advantage of this opportunity, choose a program that aligns with your interests and goals. With careful evaluation, you will soon join the ranks of successful resellers and take your business to new heights. Don’t miss out — now is the time to dive in.
Ready to take the next step?
Restolabs believes in empowering resellers with the same tools and support systems we equip ourselves with so they can function as an extension of the in-house Restolabs unit.
✅Start selling immediately under your own brand name.
✅Set your own pricing for your customers.
✅Easy to scale and monetize.
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