Cramer: This Company’s Got No Competition

(Having trouble with the video? Click here!)

"Show me an industry where there's no meaningful competition, and I will show you a stock that's probably worth owning," Cramer said.

And as far as the Mad Money host can tell the website OpenTable has no real competition – at least not in any significant way.

OpenTable takes reservations over the Internet for more than 20,000 different restaurants across North America. And it's a free service for diners.

"There are other companies that do the same thing, but none of them have the scope and scale to be truly competitive right now," Cramer said. "And they probably won't for a long time to come."

Mad Money
Adam Jeffery | CNBC

The nearest competitor according to Cramer is probably the website Urban Spoon. However he says the metrics speak volumes.

"UrbanSpoon says they get 10 million unique visitors to their website every month—that's 10 million sets of eyeballs. During the same period OpenTable seats 10.9 million diners. They're not just in a different league, they're playing a different game," Cramer insisted.

Because OpenTable fills seats that might otherwise go empty, restaurants are willing – perhaps even grateful – to pay the associated fees.

Here's how it works:

"If a restaurant wants to use OpenTable's electronic reservation book system, they pay a one-time installation fee for hardware and training," Cramer explained. "They also pay a monthly subscription fee to use OpenTable's system, and then OpenTable also collects a fee for every customer who gets seated through that system."

That may sound like a lot of fees but, "It's worth it for the restaurants," Cramer insisted, "especially those that have trouble filling their seats." Unfilled seats translates into leftover food – one of the biggest sources of losses for the restaurant industry.

And OpenTable isn't just a domestic story, it's also viable for travelers heading overseas. "They service another 7,829 restaurants in the United Kingdom, Japan and Germany," Cramer explained.

Read More from Mad Money with Jim Cramer
Cramer: What Did Washington Do?
New Ways to generate Yield
Cramer: There's Still Opportunity in This Stock

All told, Cramer likes what he sees. And it appears other investors do too. Shares are up 25% ytd and 68% over the past 12 months.

"I like the metrics here," said Cramer. "I think they're going in the right direction."

We mentioned it above but it bears repeating, "Show me an industry where there's no meaningful competition, and I will show you a stock that's probably worth owning," Cramer said.

Call Cramer: 1-800-743-CNBC

Questions for Cramer?

Questions, comments, suggestions for the "Mad Money" website?