USA: Foodvision.com launches its highly anticipated B2B site, www.Gate2plate.com
Foodvision.com has officially launched the first phase of Gate2plate.com, the first B2B e-commerce marketplace targeted to independent restaurant operators in North America. Gate2plate.com provides all the information an independent restaurant operator needs to effectively operate his/her business and allows the restaurateur to buy required goods, from pots and pans to groceries and equipment. With more than 450,000 independent restaurant operators in North America, Foodvision.com anticipates a significant increase in revenues from the development of Gate2plate.com. Sources of revenue include e-commerce, alliances with major manufacturers, private label e-commerce, private label distribution and contest marketing. Additionally, individual restaurant operators are able to take advantage of volume discounts when they register as a member through the site. "Foodvision.com anticipates revenues from Gate2plate.com of several million dollars in the very first year of operation," said Raj Kalra, President of Foodvision.com. "This is a very significant launch of a product that will help develop an online community with bulk purchasing power regardless of the size of the restaurant." According to Bloomberg's June 2000 issue, the food and agricultural industry ranks as twelfth in the B2B e-commerce, with revenue potentials of $22.5 billion in year 2000 and $211.1 billion in year 2004. The Company's strategy is to first develop traffic, then revenue, and most importantly profits. This will be accomplished by Gate2plate.com going through three development phases over a nine-month period. After this period, the site will provide full e-commerce fulfillment.
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