Kimbal Musk backs a restaurant chain that charges lower prices in poor neighborhoods

Kimbal Musk backs a restaurant chain that charges lower prices in poor neighborhoods
Kimbal Musk backs a restaurant chain that charges lower prices in poor neighborhoods

The CEO believes that Everytable, which is a public benefit corporation, can one day achieve the scale of huge food franchises like McDonald’s or Taco Bell, but with a focus on accessible nutrition.

In order to sell healthful foods for relatively low prices, Polk said that Everytable has to leverage software and data analytics at every turn. It tracks data about which meals it sold and where, obsessively, to be able to forecast demand and avoid wasting food.

Instead of housing a commercial kitchen at each location, Everytable sends prepared meals out from a central kitchen to its smaller storefronts. That allows the company to spend less on real estate, and more on ingredients and labor.

To keep track of how well they’re doing, Everytable restaurants each feature a digital mood-measuring kiosk. Customers are asked to tap a smiley or frowny face on a screen to give feedback on the spot.

Apart from Kimbal Musk, investors include social impact investors Acumen, Maria Shriver, TOMS Social Enterprise Fund, and Chipotle, among others. Its newly raised venture funds should help Everytable grow in and beyond Los Angeles, Polk said.

Acumen’s Markeze Bryant said: “Everything this company does is about delivering a product to the consumer on the most efficient basis. So even though it’s a food business with a social mission we see it as a tech company. There's a lot of innovation around ordering, forecasting, pricing and everything else it takes to deliver savings, and ultimately good health, to the customers.”

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