In all actuality, at the present time, uWink is indeed just a restaurant company with less-than-impressive quarterly numbers. However, it is not strictly in the foodservice industry that uWink intends to make its mark. The company has conceptualized and begun development of an interactive restaurant dynamic that could change the way people dine out.
The company plans to begin selling and licensing its proprietary point of sale (POS) software, as well as implement it in uWink restaurants. Using a table-top touchscreen interface, patrons can order food and drinks, and pay by credit or debit cards swiped right at the table. In addition, uWink’s software includes 70 single and multi-player games that can be likened to popular touchscreen sensations such as Megatouch. Access to digital content like video and music is also part of the uWink system.
The software has been undergoing market testing in the company’s prototype restaurant facilities, located in Woodland Hills and Hollywood, California. It is believed that the system will increase customer traffic and open up potential revenue streams, as well as heighten service speed and order accuracy.
The only trouble for uWink is that, at present, it has yet to successfully complete its software for licensing, and is depending on the realization of that goal in order to stay afloat. However, it seems important to mention that the company’s CEO is none other than Nolan Bushnell, founder of Atari, Inc., and the famous Chuck E. Cheese’s restaurants. If nothing else, uWink is lucky to have such a formidable executive at the helm.
Despite undesirable quarterly results, including declines in sales and heavy operating losses, uWink has no current debt, and around $3.2 million in cash on its balance sheet. While the third uWink restaurant is slated to open this September, the company does not plan to open additional stores, but rather to focus wholly on its software and licensing operations. It seems the survival of this company is contingent upon how it fares in the software industry over the next twelve months.
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