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TheFoodExchange.com is an online B2B marketplace and wholesale ordering platform for the foodservice industry. We connect buyers and sellers and provide hyper relevant technology solutions to optimize the purchasing and order management process. Buyers (restaurants, caterers, and retailers) can manage their shopping lists, place orders with the click of a button, and comparison wholesale shop. Suppliers (distributors, manufacturers, and farms) can manage their inventory, communicate with customers, facilitate sales, and market their company and products.
Michael Polier, the founder & CEO, was compelled to create The Food Exchange because he worked in kitchens and was in charge of doing the purchasing. He was given a clipboard and would take inventory and then place orders by phone and fax at the end of the night - the majority of the time he would leave a message on an answering machine hoping that it would be delivered the next day, on time, and correctly. More often than not there would be questions, problems, substitutions, and things would change... and the chef would freak out. This was in the late 90's and early 2000's and he wished then that there was a website that helped foodservice professionals streamline and optimize this process. He couldn't believe that there wasn't a website that did what my clipboard was doing... The idea was born.
The foodservice industry is on the cusp of a technology revolution much like the travel industry of the early 2000’s and will surpass $850 billion in sales by 2020 ($300 billion wholesale costs) AND, by the way, does anyone still use a travel agent? The opportunity is clear: 1) Capitalize on this wholesale market by providing a subscription based platform and marketplace where wholesalers and food buyers can do business easily and efficiently. 2) Aggregate and connect as much of the industry as possible to drive ad sales and affiliate income. 3) Collect and monetize data.
We launched the BETA version of the site 6 months ago, we have over fifty thousand products in our marketplace, and we are signing up new users every day!