Perk Labs Announces New Custom Branded App

Rhea-AI Summary

Perk Labs Inc. (OTCQB: PKLBF) has signed a letter of intent with SoyTalk Dessert Inc. to develop a custom branded app that enhances restaurant customer engagement through ordering, payment, and loyalty features. This initiative addresses the high commission fees charged by third-party delivery services that have strained restaurant profit margins, especially during the pandemic. Perk aims to provide an economical solution for restaurants, allowing them to cultivate direct relationships with customers and regain control over their branding and communication.

Positive

• Signed a letter of intent with SoyTalk for a custom branded app, expanding service offerings.
• Targeting a significant software-as-a-service revenue opportunity through custom branded apps.
• Addresses high commission fees impacting restaurant profit margins.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / May 31, 2022 / Perk Labs Inc. (CSE:PERK)(OTCQB:PKLBF)(FKT:PKLB) ("Perk" or the "Company"), the digital franchise company helping businesses transition to the digital economy, today announced that it signed a letter of intent with SoyTalk Dessert Inc. ("SoyTalk") setting out the general terms and conditions on which Perk will build SoyTalk a custom branded app.

"We are more than thrilled to work with the great management at SoyTalk on building a powerful custom branded app for their establishment featuring ordering, payment and loyalty, that will help them directly connect with their customers," said Perk's Interim VP of Sales, Justin Strange. "We have many other restaurants in our pipeline that are really excited to partner with us and we are pleased to see such a high level of interest. During the COVID-19 pandemic, many restaurants were forced to depend on third-party delivery providers that are prohibitively expensive. Third-party delivery platforms were the only way for restaurants to engage effectively with customers during the pandemic and our custom branded app product is an economical and profitable way for restaurants to have the same level of engagement with customers without having to sacrifice 30% of every order."

"Restaurant profit margins have been under serious attack for quite some time now, so these heavy commission fees really place the restaurant owners in a difficult situation. Our product is designed to rescue restaurants from the dependency on the third party delivery apps that charge so much and help them bring in new and old customers without the expensive unsustainable fees. As well, our custom branded app does not distract customers by showing them the other many restaurant menus and promotions that are within the third-party apps and keeps them focused on the wonderful offerings of the restaurant with their own custom branded app. Third-party delivery apps encourage users to try many different restaurants, so they are not designed for loyalty to a specific restaurant or brand."

"Our custom branded app offering provides restaurants with a direct pipeline to their loyal customer base, a tremendous evolution for restaurants going forward. They will have the ability to take back control of their direct communication with customers, offering a better experience with more control of their exposure and branding. Our "Restaurant Rescue" program is designed to help restaurants disconnect from the addiction of third-party apps and regain strong and meaningful relationships with their customers. We are building our technology for the future of hospitality: affordable solutions for restaurants with no strings attached." added Mr. Strange.

Perk's custom branded apps are built on the Perk Hero platform and leverage its downloadable merchant app, merchant web portal, and powerful features such as mobile ordering, contactless payment, digital wallets and loyalty. The utility of custom branded apps is supported by a recent consumer data survey of U.S. restaurant customers who use some form of technology when ordering food found that 67% of respondents preferred using a restaurant's own app to websites or food delivery services.¹ Further, a recent State of the Industry Report from the National Restaurant Association states that: "many operators will devote their resources to online or app ordering, reservations, mobile payment, or delivery management, in addition to back-of-the-house technology."²

"We see custom branded apps as a significant immediate software-as-a-service revenue opportunity for Perk," said Perk CEO, Jonathan Hoyles. "I'm proud to see our sales and marketing team successfully deliver on signing up restaurants. We've invested considerable time and effort into our web-based Digital Dine-in product and custom branded app offering. Both products are valuable tools for restaurants to better serve their customers and streamline their business. Our sales and marketing team is now laser-focused on signing up customers and placing these valuable tools in the hands of restaurant owners."

About Perk Labs Inc.

Perk Labs Inc. (CSE: PERK) (OTCQB: PKLBF) (FKT: PKLB) is the owner of Perk Hero, the mobile commerce platform on a mission to empower business owners with the digital tools to provide their customers with experiences that are more engaging, convenient and rewarding. Perk Hero is growing through a unique community-driven digital franchise business that is available to entrepreneurs at an attractive start-up price.

For more information about Perk Labs, please visit www.perklabs.io. Visit Perk Hero at www.perkhero.com.

For more information on a Perk Franchise, visit www.perkfranchise.com.

For more information contact:

Jonathan Hoyles
CEO
Perk Labs Inc.
(833) 338-0299
investors@perklabs.io

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "may", "believe", "thinks", "expect", "exploring", "expand", "could", "anticipate", "intend", "estimate", "plan", "pursue", "potentially", "projected", "should", "will" and similar expressions, or are those, which, by their nature, refer to future events. These forward-looking statements, which involve risks and uncertainties, relate to, among other things, the discussion of the Company's business strategies and its expectations concerning future operations, the demand for custom branded apps, that we expect many restaurants in our pipeline to partner with us on a custom branded app, and that custom branded apps will be a significant immediate revenue opportunity for Perk. Although the Company considers these forward-looking statements to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties, and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions, or expectations upon which they are based will occur.

¹https://www.statista.com/statistics/1243722/share-of-us-consumers-that-prefer-a-restaurant-s-app-or-website-for-delivery/

²https://restaurant.org/research-and-media/media/press-releases/association-releases-2022-state-of-the-restaurant-industry-report/

SOURCE: Perk Labs Inc.

View source version on accesswire.com:
https://www.accesswire.com/703325/Perk-Labs-Announces-New-Custom-Branded-App

FAQ

What is the significance of Perk Labs signing with SoyTalk Dessert Inc.?

Perk Labs' partnership with SoyTalk demonstrates their commitment to providing solutions that reduce restaurant reliance on costly third-party delivery services.

How does the custom branded app benefit restaurants?

The custom branded app enables restaurants to engage directly with customers, reducing dependency on third-party apps and their high fees.

When was Perk Labs' partnership with SoyTalk announced?

The partnership was announced on May 31, 2022.

What is the stock symbol for Perk Labs?

The stock symbol for Perk Labs is PKLBF.

What features will the custom branded app include?

The app will feature ordering, payment, and loyalty functionalities, enhancing customer engagement for restaurants.