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They also do a fair bit of takeaway food delivery, which is a growing market.
https://pedalme.co.uk/our-service/
But they only do it until 8pm and not on the weekend? Can that even be called a competing service to the likes of uber eats/deliveroo and if it does is that cheapest end of the delivery market where money can be made as an investor with a "premium service"?I don't think there is any money in food delivery to the end customer long term for them, people just don't order enough food in one go to utilize the bikes so a courier with a bag will win every time. They can pad out the hours with it to keep bikes on the road but that's about it. It's why the competition has already explored and stopped using these.
Clockwise-
But they only do it until 8pm and not on the weekend? Can that even be called a competing service to the likes of uber eats/deliveroo and if it does is that cheapest end of the delivery market where money can be made as an investor with a "premium service"?
I expect they are doing lunches! And maybe corporate catering stuff. It's probably a higher margin end of the market than evening takeaways, etc.
They are not competing against Deliveroo or Uber, they are working for restaurants who are managing their own deliveries. PedalMe is getting paid its cargo rates for doing it so they are making as good a margin on that as on any of their other business.
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You see a fair few Pret bikes around during the day delivering sandwich platters that would probably be too big to fit in a normal bike bag. Plus they're cold so you can do multiple drops.
frank9755
aggi
Found out a bit more about it.
They are not so worried about rain / bad weather. They have essentially plastic bags that they use to keep the cargo dry, and they work ok. And they have an advantage in rain vs motor transport as the roads get snarled up.
They are doing quite a lot of work for pubs and restaurants which should build up into December.
They also do a fair bit of takeaway food delivery, which is a growing market.
I think the valuation is a bit high, but I do like it.