Speedy Eats

Automated Quick-Service Kitchens

Speedy Eats

Automated Quick-Service Kitchens

Baton Rouge, LA
Food & Beverage
Manufacturing
Speedy Eats has developed an automated, standalone kitchen to serve high-quality meals for walk-up, drive-thru, and delivery. Our units will allow food service operators to increase their cash flow and profitability while delivering a seamless and convenient customer experience. We believe our innovative food and beverage tech will be the first fully automated drive-thru kitchen designed to be placed in a parking lot, opening up a whole new category of food service opportunities. Speedy Eats is pre-revenue and we have a working prototype in our lab.

$278,926

raised
151
Investors
$21M
Valuation
$2.06
Price per Share
$249.26
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
27
Days Left

$278,926

raised
151
Investors
$21M
Valuation
$2.06
Price per Share
$249.26
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
27
Days Left

Rewards

Get rewarded for investing more into Speedy Eats:

$249+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$500+
Investment
Tier 1 | $500+
Invest $500+ and receive 1% bonus shares + first 5 meals free. ($75 value)
$1,000+
Investment
Tier 2 | $1,000+
Invest $1000+ and receive 2% bonus shares + first 10 meals free ($150 value).
$2,500+
Investment
Tier 3 | $2,500+
Invest $2,500+ and receive 3% bonus shares + first 25 meals free ($275 value).
$5,000+
Investment
Tier 4 | $5,000+
Invest $5,000+ and receive 4% bonus shares + first 50 meals free ($750 value) + personal call from CEO + $2500 off the first unit if the investor decides to become an operator.
$10,000+
Investment
Tier 5 | $10,000+
Invest $10,000+ and receive 5% bonus shares + first 100 meals free ($1500 value), personal video conference call from CEO + $7500 off the first unit if investor decides to become an operator.
$20,000+
Investment
Tier 6 | $20,000+
Invest $20,000+ and receive 7% bonus shares + first 200 meals free ($3000 value) + personal video call with CEO.

Reasons to Invest

Our product will be perfectly positioned to capitalize on various markets, including the quick service restaurant (QSR) market (valued at $296.55B in 2021); the global food delivery business (worth $126B in 2021), as well as theme parks, airports, train/bus stations, and parking lots, which we believe can add up to a combined market cap of nearly $5.8B.
The Speedy Eats automated kitchen will combine quality, convenience, and strong customer experience while minimizing overhead, streamlining operations, and setting up in untapped, high-trafficked areas such as parking lots.
Our automated kitchens will be able to integrate with third-party delivery companies and will be able to learn traffic patterns in order to anticipate when and how much food needs to be ready.

Automated Food Service & Delivery for Today's On-the-Go Customers

Speedy Eats automated kitchens offer full meals available 24/7 via walk-up, drive-up, and delivery, offering a unique combination of quality, convenience, and superior customer experience. 


Using advanced technology and smart software, we’re able to anticipate and prioritize customer demands while drastically reducing the labor and overhead costs associated with traditional food service offerings. Our units can operate both indoors and outdoors in high foot traffic areas, as well as capitalize on untapped real estate such as parking lot spaces. Unit operators can choose the menus they’d like to stock, and each unit contains all the necessary equipment to cook and serve whatever the franchisee would like to sell. 



We’re ready to seize the enormous potential to make convenient, high-quality food easily available to communities everywhere.

The Problem


Food Service is Limited by High Overhead Costs and Labor Requirements

The food service industry is a challenging one, known for its high overhead costs, low profit margins, and demanding customer service. Restaurants and kiosks are both highly limited in their location, labor needs, and turnaround times. 


Restaurants have a notoriously low rate of return, combined with high upfront costs, constant employee turnover, wage pressures, and supply chain difficulties—all of which have been exacerbated by the COVID-19 pandemic. Kiosks, on the other hand, are limited by low-quality options, limited income generation, and a lack of smart technology, leaving many of these suppliers way behind the times. All the while, Americans are more time-strapped than ever before, looking for easy, nutritious, convenient meals at affordable prices. 



It’s no surprise that we’re now witnessing a rise in mobile ordering and delivery services, more advanced use of tech and AI, and an increase in cashless transactions. 

The Solution


Automated Kitchens Designed for Convenience

Speedy Eats kitchens combine the powers of prime real estate and automated tech to offer a new and improved food service business model. Units can be placed in a variety of high traffic locations, including parking lots, transport centers, and event venues. 



Each kitchen has a warming system and fridge, and is designed to carry multiple types of entrees served either hot or cold, along with side items and beverages. Food is stored in individual, airtight enclosures and cooked in a convection oven, with expiration dates closely monitored. Our units are able to pre-cook entrees in advance of peak hours, allowing customers to grab their orders extremely quickly while improving sales throughput and maximizing sales potential



Our automated kitchens can integrate with third-party delivery companies through API systems such as Doordash, enabling users to place delivery orders from our locations through third-party apps and opening us up to greater digital traffic. Through our software, each unit is able to learn traffic patterns in order to anticipate when and how much food needs to be ready. By leveraging excess capacity and automating service, our units reduce labor costs and overhead while maximizing margins and paving the way for rapid expansion


Speedy Eats will manufacture and sell the units to operators for around $120K each, while also licensing the software as a monthly SaaS subscription. By our current estimates, we believe that each unit can provide a one-year rate of return for our franchisees.

The Market


Tapping Into Multi-Billion-Dollar Markets

The quick service restaurant (QSR) market was valued at $100B in 2021*, while the food delivery business is worth $94B (source). Speedy Eats is perfectly positioned to capitalize on both, and our units can be placed in strategic locations so that delivery drivers don’t even need to get out of their vehicles.

*Total market value based on internal research when paired with additional statistics (sourcesourcesource)


*Total market value based on internal research when paired with additional statistics (sourcesourcesource)

**(source)


There are also huge opportunities for our automated kitchens at theme parks, airports, train & bus stations, and parking lots, which add up to a combined market cap of nearly $5.8B.* By focusing on quality, convenience, and customer preferences, we’ll be able to succeed in various markets.

*Based on internal research conducted by SpeedEats.


Our current competitors exist in the form of kiosks, vending machines, and brick-and-mortar restaurants. Kiosks and restaurants are designed for indoor, low-traffic use, relying on inefficient operations, high labor costs, rent, and other critical overhead, creating strict limitations in terms of location and operating hours. While vending machines offer convenience, they’re severely limited in quality and choice of options. 



Speedy Eats combines the best of both worlds with our low-maintenance, smart-software model that offers a wide variety of hot and cold menu options. Our units can be installed in small, high-traffic spaces as well as untapped real estate such as empty parking lot spaces and can operate around-the-clock, connecting us with a much larger customer base.

Our Traction


Full-scale Working Prototype Ready for Customer Testing

We’ve successfully built and tested our full-scale working prototype using our initial $500K raise. We recently signed an LOI with the drone delivery companies, Valqari and DroneDek, and have established commercial partnerships with Doordash and Waitr. We’re now in the process of developing a custom software platform in order to leverage data and improve the customer experience. 



We will be building our second-generation unit over the next six to eight months and then moving to test that unit in the field. During this time we will gather customer feedback, including testing of drone delivery capabilities in our lab. From there, we’ll focus on perfecting the design and moving into the manufacturing phase. Our aim is to have 100 units sold and operational by mid-2023.

Why Invest


Seizing the Untapped Potential in Automated Food Tech

We believe in the huge and untapped potential of automated food technology. Starting with our first prototype that was built in a living room, we’ve spent the last six years developing our Speedy Eats kitchens into the best they can be. We’re eager to serve the community with our automated kitchens, and we’ve had the courage and audacity to keep pushing ahead in the face of ongoing obstacles. 


Speedy Eats is proud to have created a truly innovative, high-utility product that will benefit business owners and customers alike across a multitude of uses and applications. We’re now ready to refine, launch, and scale our kitchens to serve communities everywhere.


Offering Summary


Company

:

Bancroft Automated Restaurant Systems, Inc.

Corporate Address

:

7117 Florida Blvd, Baton Rouge, LA 70806

Offering Minimum

:

$9,999.24

Offering Maximum

:

$1,069,992.84

Minimum Investment Amount

(per investor)

:

$249.26











Terms


Offering Type

:

Equity

Security Name

:

Non-Voting Common Stock

Minimum Number of Shares Offered

:

4,854

Maximum Number of Shares Offered

:

519,414

Price per Share

:

$2.06

Pre-Money Valuation

:

$20,979,787.78











*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

No Voting Rights of Securities Sold in this Offering

Non-Voting Common Stock. Each Subscriber will be issued Non-Voting Common Stock of the Company. Except as otherwise required by law, holders of shares of Non-Voting Common Stock shall have no right to consent to or vote on any matter presented to the stockholders of the Company for their action or consideration (and shall not be included in determining the number of shares voting or entitled to vote on a given matter).

Investment Incentives and Bonuses*

Time-Based

Friends and Family Early Birds

Invest within the first 72 hours and receive 35% bonus shares.

Super Early Bird Bonus

Invest within the first week and receive 25% bonus shares.

Early Bird Bonus

Invest within the first month and receive 15% bonus shares.

Amount-Based

Tier 1 | $500 +

Invest $500+ and receive 1% bonus shares + first 5 meals free. ($75 value)  

Tier 2 | $1,000+

Invest $1000+ and receive 2% bonus shares + first 10 meals free ($150 value)

Tier 3 | $2,500

Invest $2,500+ and receive 3% bonus shares + first 25 meals free ($275 value)

Tier 4 | $5,000

Invest $5,000+ and receive 4% bonus shares + first 50 meals free ($750 value) + personal call from CEO + $2500 off the first unit if the investor decides to become an operator. 

Tier 5 | $10,000+

Invest $10,000+ and receive 5% bonus shares + first 100 meals free ($1500 value), personal video conference call from CEO + $7500 off the first unit if the investor decides to become an operator.

Tier 6 | $20,000+

Invest $20,000+ and receive 7% bonus shares + first 200 meals free ($3000 value) + personal video call with CEO. 

*All perks occur when the offering is completed.

The 10% StartEngine Owners' Bonus

Bancroft Automated Restaurant Systems, Inc will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Non-Voting Common Stock at $2.06 / share, you will receive 110 shares of Non-Voting Common Stock, meaning you'll own 110 shares for $206. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investor's eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments. Salary payments made to one’s self, a friend or relative.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$203,888.00 USD
$153,084.00 USD
Cash And Cash Equivalents
$64,308.00 USD
$226.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$0.00 USD
$0.00 USD
Long Term Debt
$0.00 USD
$0.00 USD
Revenues And Sales
$0.00 USD
$0.00 USD
Costs Of Goods Sold
$0.00 USD
$0.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$211,913.00 USD
-$57,959.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

New pizza dough testing with our VP of Product Development

1 day ago

We at Speedy Eats are constantly focusing on improving our products to obtain maximum customer satisfaction. This week, we tested our new Pizza crusts from Rich's Foods with our VP of Product development, Chef Jay Ducote. Learn more about Jay here. Jay has been working with Speedy Eats to conduct different tests to improve the blend and process of Speedy Eats products. 

We have tested thousands of pizzas on our way to perfection. Recently we tested three different types of dough: Raised edge, Artisanal Blend, and Thin Crust.

These three crusts will be the available in our second-generation Speedy Eats Pizza unit in Baton Rouge. 


You can become a part of Speedy Eats by investing in our current raise. Please help us achieve our goal.

Thank you all for those who have invested in Speedy Eats—happy Fourth to everyone.

Speedy Eats partners with Middleby Corporation

3 days ago

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From left to right: Mark Brewer, Director of National Accounts at the Boelter Companies; Tom Kunkel, Vice President at L2F; Speed Bancroft, CEO at Speedy Eats; Adam Enamorado, COO at Speedy Eats; Shawn M. Lange, President of Lab2Fab at Middleby; James K. Pool III, Chief Technology and Operations Officer at The Middleby Corporation, Sanjay Maharjan; Chief Mechanical Engineer at Speedy Eats

On June 7th, Speedy Eats Team visited the Middleby Innovative Kitchen for discussion on possible partnership and facility tour on cutting edge technologies. 

Middleby Corporation is a leading solution provider in commercial kitchens worldwide. Engineering the most advanced innovation for all commercial kitchen needs and offering expansive beverage portfolio. Middleby is one of the largest kitchen equipment manufacturer with multiple co-brands under its name.

From left to right: Mark Brewer, Director of National Accounts at the Boelter Companies;  Shawn M. Lange, President of Lab2Fab at Middleby; ; Adam Enamorado, COO at Speedy Eats; Speed Bancroft, CEO at Speedy Eats.
Speedy Eats currently uses Middleby's conveyer oven (TurboChef ovens) to cook its entrées and sides. Speedy Eats has partnered with Middleby so that Speedy Eats can integrate the ovens for the belt speed, temperature, and air speed  controls giving Speedy Eats power to offer different types of food with different cook time in the same unit. Speedy Eats is also planning with Middleby supporting as a manufacturer and a support to Speedy Eats Operations.

Read post by Speed Bancroft here.



Our Community Joins In! | Insider Investment Notice

9 days ago

We're excited to see our community come in and invest in Speedy Eats!

Our Insiders have invested a total of $132,006 into the offering!

We hope you join in as well! Invest in Speedy Eats!

Please refer to the Company’s offering materials for further information and refer to the Company’s Risk Factors.

Join us to our first Q&A webinar

12 days ago

We would like to invite everyone to our first Q&A webinar where our CEO, Speed Bancroft will be taking questions from the audience. Join us this week and bring your questions. Anyone can register here.

The very first Speedy Eats Q&A webinar

17 days ago

Greetings Everyone,

Thank you for all the love and support. We have raised $273k in our Start Engine campaign. We will now be hosting our very first webinar where you will get a chance to ask our CEO, Frederic Speed Bancroft, any questions you might have about our company or Speedy Eats Automated Restaurants. We invite you to join us in this webinar and have your questions ready. Please register ahead using this link. 

Speedy Eats partners with Picnic for custom topping solutions

22 days ago

Speedy Eats is proud to announce that we will be working with Picnic to offer custom topping systems to our Speedy Eats units. Focused on pizzas, Picnic system can allow up to 9 toppings and with Speedy Eats three types of crust, the system will be able to offer a total of 121,000 different pizza combinations. 


Partnering with Picnic allows Speedy Eats to integrate the award-winning Picnic Pizza Station technology into its kitchens to enhance production, improve customer experience, and offer fresh-made custom pizzas. Installing the automated pizza assembly makeline enables Speedy Eats operators to customize Speedy Eats pizzas with fresh ingredients made to order exactly how the customers want.

"At Picnic, we are passionate about helping restaurant operators succeed," said Clayton Wood, CEO of Picnic. "Speedy Eats is an excellent example of new models of kitchen operations where automation adds to the value of the overall guest experience. We're excited to help Speedy Eats realize its vision of automating the pizza making process and providing fresh, custom-made pizza to all its customers."

The Picnic Pizza Station is autonomous and completely customizable for each order – after loading the dough, the Picnic station takes care of applying the sauce, cheese, fresh-cut pepperoni, and additional toppings. The finished pizzas are then loaded into the kitchen's ovens for cooking. Each hour, the Picnic station can assemble up to 100 pizzas.

Operators who wish to operate a Speedy Eats unit with pizza can offer custom toppings with a small monthly fee from Picnic. Operators can still offer Speedy Eats pizza with five pre-topped pizza configurations in fast-paced, high-traffic areas.

The picnic pizza topping system can easily be installed in Speedy Eats units between the Fridge and the oven without extreme modification. Moreover, the integration with the Picnic topping system and Speedy Eats unit can be pre-programmed; hence a quick update will allow operators to start serving custom toppings to their customers.

Read the original announcement here.

Speedy Eats partners with DroneDek; a smart mailbox system

23 days ago

Speedy Eats is honored to partner with DRONEDEK Corporation! With this integration Speedy Eats has the opportunity to develop a seamless delivery, direct to consumers homes/offices via drone or autonomous delivery vehicles.

DroneDek is a "smart mailbox" company that provides a means of delivery for automated systems via drone or automated land vehicles. DroneDek completes the last mile with their smart, secured receptacle technology. Additionally, Speedy Eats can deliver food via drone or autonomous delivery vehicles. Our Speedy Eats units have a built-in interface for drones or autonomous delivery vehicles to pick up food and beverages.


Read the original announcement post here

*The final availability of the drone delivery will depend on FAA approval and hence is not the main mode of delivery for Speedy Eats. 

Speedy Eats crosses the $200K mark on its Start Engine raise.

24 days ago

Speedy Eats has OFFICIALLY crossed the $200k benchmark on our Start Engine crowdfunding campaign.

Thank you for all the support.

If you like investing in growing companies, then Speedy Eats should be in your portfolio. We’ve partnering with some of the leading player in the automated toppings, drone delivery, 3rd party delivery, hardware maintenance, self-pour systems, in the industry.

Please support our company so we can continue moving forward. Thank you!

Speedy Eats Revenue Sources

about 1 month ago

Speedy Eats pushes to help consumers get fresh and good food, fast. The "Fresh, Never frozen" slogan goes a long way in retaining consumers and driving a healthy life. We also provide an opportunity for entrepreneurs to start a business with a low startup cost and a high return on investment. 

With all the giving, learn how Speedy Eats earns its revenue with our CEO, Speed Bancroft.


Our Community Joins In! | Insider Investment Notice

about 1 month ago

We're excited to see our community come in and invest in Speedy Eats!  

Our Insiders have invested a total of $28,502 into the offering!

We hope you join in as well! Invest in Speedy Eats. Be a part of the innovation.

Please refer to the Company’s offering materials for further information and refer to the Company’s Risk Factors.

Speedy Eats Operator Economics

about 1 month ago

We at Speedy Eats are constantly trying to educate investors and potential investors on how the company operates. Speedy Eats CEO, Speed Bancroft, explains how operators generate revenue using Speed eats automated restaurant.


Speedy Eats Business Model

about 1 month ago

Learn all about Speedy Eats Business model, and how we support our operators. Speedy Eats CEO, Speed Bancroft, talks about the details of the business, and the operations in his YouTube videos. 

Speedy Eats gets featured in WBRZ news

about 1 month ago

Speedy Eats gets featured in WBRZ news. Watch the Original post. “Speedy Eats is going to change everything. The reason is, the industry is going to evolve no matter what happens. Automation, AI, it’s integration, it’s occurring every day and all of the big entities out there are exploring more intelligent applications of automation," C.O.O of Speedy Eats, Adam Enamorado 

Fresh Fridge

about 2 months ago

Check out our Fresh Fridge rendering.

 The complete design is still in the works. We have applied for a patent on the Fresh Fridge on how it manages the inventory by automatically dispensing expired products to a receptacle. The Fresh Fridge can be used to serve Salad, Cold-cut subs, Wraps, Chicken salads, Shushi and many more. The refrigerator on the fresh fridge can be replaced with a freezing unit to serve Ice-creams as well. Our units can handle both take-away and delivery through major delivery companies like Door dash, UberEATS, Grub hub, Wair, and Postmates.

Speedy Eats Demonstration Video

about 2 months ago

Our CEO Speed Bancroft explains the operations of our Speedy Eats units.


Speedy Eats raises over $135k in a week

about 2 months ago

              We launched our Start Engine fundraising campaign a week ago, and we have already raised over $135k. You can still invest in Speedy Eats and get a 15% bonus share for a limited time. 

Thank you to all the investors for supporting us reach our goal.

 You can watch a demonstration of Speedy Eats unit by Speed Bancroft here. Speed has also created a Q&A video that can be found here


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