Posted by Willy Franzen on June 24, 2011. Jobs updated daily.
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It’s funny how you hear about something for the first time, and soon after it seems to keep coming up over and over again. That’s how I feel about Savored. They’re based in New York, NY, and they were formerly known as VillageVines. They’re yet another deals site, but they’re standing out from a lot of the other “me toos” because of their creative approach–it’s OpenTable meets Groupon. Here’s how it works: You pay $10 for a reservation at one of Savored’s partner restaurants at a time they’re offering, and you get 30% automatically taken off your bill. That’s it. The focus isn’t so much on getting new customers into restaurants as much as it is on getting people to go to restaurants at times when business is typically slow. You can cancel the reservation up until two hours before, and you get a refund if your total savings are less than the $10 you paid for the reservation.
A lot of people are down on the whole deal site phenomenon, but I think it will continue to be a strong market. Coupons and promotions have been around forever, and this is just the next stage. Offering discounts instead of spending money on marketing and advertising makes sense, and there are plenty of businesses with high fixed costs and low marginal costs that can benefit from filling in slow periods with lower margin customers. This is what Savored is all about. They just relaunched with the new name this week while also expanding into some new markets, but it seems that they already have a pretty killer lineup of restaurants participating. The business is built entirely on the $10 reservation fee, which makes it really easy on the restaurants. They just give you the discount, charge you as they normally would, and that’s that. If you like what Savored is doing, head over to their Jobs page. Right now they are hiring Sales Managers and Operations Managers. Despite the Manager titles, they don’t mention any experience requirements, so it’s definitely worth applying.
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