Swiggy Offers New Restaurant Partners One-Month Commission Waiver
- ByStartupStory | March 18, 2023
Swiggy has launched a new initiative that offers a one-month commission-free period for new restaurant partners, according to an announcement made on Friday. This move is aimed at attracting more restaurants to join the food and grocery delivery aggregator platform.
Swiggy has introduced a program called “Swiggy Launchpad” that provides a commission-free period to new restaurant partners, with the aim of encouraging them to see online delivery as an additional channel for growth. As per Swiggy’s announcement, restaurant partners can potentially save up to ₹20,000. This move is expected to attract more restaurants to the platform and help kickstart their growth.
Swiggy has stated that the purpose of the Swiggy Launchpad program is to inspire newly joined restaurants to view online delivery as an incremental channel to stimulate their growth. Swiggy further added that the initiative offers commissions and other benefits, which can help restaurant partners save up to INR 20,000. This saving can then be invested back into their business, which can lead to further growth.
Swiggy has highlighted that its Swiggy Launchpad initiative provides more than just a commission waiver to newly joined restaurants. The program also includes a dedicated growth manager, free ads on the Swiggy app, an expanded delivery radius, performance management apps, and the creation of high-quality menus. Additionally, the initiative offers business intelligence dashboards, which provide data and insights. Swiggy has mentioned that the online food delivery channel has become a reliable platform for new restaurants to gain consumer traction and growth. The statement also added that the 0% commission offer can serve as a great testing ground for these new restaurants, while also helping them save some capital.
Rohit Kapoor, the CEO of Food Marketplace at Swiggy, mentioned that the company is continuously exploring ways to encourage new food entrepreneurs to experience online food delivery. The introduction of 0% commissions for the first month of their operations is intended to boost the confidence of restaurants, cloud kitchens, and other food entrepreneurs in online food delivery. Kapoor expressed excitement at the prospect of welcoming many new partners. It is important to note that Swiggy reported a net loss of ₹3,628.9 crore for FY22, compared to a net loss of ₹1,616.9 crore in the previous fiscal year.
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