Bestfood Delicacies Presentation

Executive Summary

This research provides an opportunity analysis for the (BD) Company, a prospective food delivery firm. It is a food delivery and online ordering company that plans to operate in Australia’s five largest cities: Adelaide, Melbourne, Alice Springs, Canberra, and Brisbane. The company will offer a wide selection of goods, including drinks, snacks, frozen foods, fresh foods, and items for personal care. By balancing the intense competition in the food sector, the company hopes to become the leading supplier of reasonably priced, cutting-edge, and excellent food and beverage services and products. To do this, BD will successfully empower its employees to do their best work, the business will get involved in community development, and all its clients will be treated with respect and trust. Subscription fees, delivery costs, commissions, and sales of the company’s food products will generate revenue for the business. The primary online distribution channels for BD will be its main website and social media channels, including Facebook, Twitter, and Instagram. Customers will download the business’s app, accessible on iOS and Android, and then input all the necessary data, including their addresses and payment information. Following the clients’ selection and ordering of the food they wish to take, deliveries are made available within thirty minutes. The business will collaborate with more than 50 eateries in Australia and employ 100 drivers to deliver food to customers. BD will have a large workforce, including cooks, customer support representatives, vendor service agents, and drivers. These workers will need to be proficient in both time management and communication.

Unique Selling Proposition (USP)

Problem statement

The main problem that BESTFOOD DELICACIES (BD) business plan solves is the availability of quality, fast-delivered, and affordable food and snacks in Australia’s five largest cities: Adelaide, Melbourne, Alice Springs, Canberra, and Brisbane. The plan also aims at checking on the issue of online food distribution. In general, the plan aims to create a dependable business that will allow the company to provide customers with high-quality, delicious, and affordable food. BESTFOOD DELICACIES Company will ensure its uniqueness by enhancing the quality of its product and services. The company will ensure that the plan and strategies are well implemented by tailoring meal plans according to the customer’s dietary restrictions, tastes, and inclinations. BD Company will also offer faster delivery time than competitors because consumers value speed and efficiency; thus, ensuring quick delivery can be a significant selling point. Besides, the company will let consumers customize their meals with certain ingredients, toppings, and cooking methods. Customers will generally order dishes by selecting ingredients and garnishes, and the company prepares them exactly how the customer wants them to be prepared. This aspect will give the customers a sense of control over their meals and increase the likelihood of using BD Company’s platform. The speed of delivery, customer sense of control, and high-quality products and services will guarantee a happy customer and a reduction in cart abandonment, making customers return to the store.

Definition and innovativeness of the business plan

BESTFOOD DELICACIES’ business plan is well-defined and innovative in providing customers with delicious and healthy meals that are prepared according to customer needs through its unique approach to food preparation and online delivery in that the customers will order through their mobile phones and have their products delivered. The company seeks to create a unique, memorable experience that will keep customers returning for more. The fact that the business plan aims to multi-channels to ensure multiple sources of revenue is also innovative. For instance, BESTFOOD DELICACIES Company aims to offer services in Australia’s five largest cities: Adelaide, Melbourne, Alice Springs, Canberra, and Brisbane. The idea of customers having to choose the ingredients that they want in their product is also innovative. BESTFOOD DELICACIES Company will also be doing online deliveries, whereby the customers will order through various social media apps such as Twitter, Facebook, and Instagram, which is quite innovative. BESTFOOD DELICACIES company will also collaborate with different stakeholders.

Research on the problem statement

BESTFOOD DELICACIES company conducted various market research to understand the root of the problem, current market trends, and the competitive landscape. Surveys have also been conducted on the customers and the market to better understand the problem. According to Barak (2022), the food manufacturing business continues to face significant challenges and remains in a crisis mode to ensure that it is not affected by the current inflationary environment. For instance, in 2020, during the pandemic, the food industry businesses were significantly affected, and most businesses could not operate normally because of the lockdown and restrictions set by the government. According to Barak (2022), the food market is set to grow by 6.72% annually from 2022 to 2027. Cargo theft, supply chain pressures, increased customer demand, and inflation are the common problems and challenges the food business currently faces. One of the researches was on the platform consumer trend and restaurant-to-consumer rate in Australia. The results were as follows; for both restaurant-to-consumer and platform-to-consumer deliveries, the user penetration rate has risen. However, Australians exhibit a greater propensity to order from restaurants, as seen by the 12.9% penetration rate of platform delivery. By 2026, it is anticipated that the penetration rates will be 27.3% for restaurants and 17.4% for food delivery services (Gjorgievska, 2022).

Market trends of platform-to-consumer and restaurant-to-consumer delivery in Australia.

https://www.google.com/url?sa=i&url=https%3A%2F%2Ftakeatumble.com.au%2Finsights%2Flifestyle%2Ffood-delivery-statistics-australia%2F&psig=AOvVaw2rEMC14jL5MadgvFpYIcWM&ust=1680932743051000&source=images&cd=vfe&ved=0CBEQjRxqFwoTCPCLqOuTl_4CFQAAAAAdAAAAABAR

The PESTLE and SWOT analysis also aided in identifying opportunities such as exemplary customer support, which improves the services offered by the company (Benzaghta et al., 2021).

BESTFOOD Company’s method to overcome market issues compared to others

BESTFOOD DELICACIES Company aims to overcome these issues through the following ways;

• To overcome the cargo theft issue, BESTFOOD DELICACIES Company will ensure surveillance to minimize the probability of theft. The company will also utilize the usage of safety devices like trackers to detect any suspicious activities. The company will also observe employees and eliminate dishonest ones to reduce internal cargo theft.
• To overcome the issue of supply chain management, BESTFOOD DELICACIES company will use end-to-end management systems to develop supply chain resilience. Apart from that, BESTFOOD DELICACIES Company will also use artificial intelligence to observe trends in food demand and predict future trends.
• To overcome the customer demand problem, BESTFOOD DELICACIES Company will accelerate food production and employ enough employees to ensure that all customers are served their correct dishes on time.
• BESTFOOD DELICACIES company deals with inflation by conducting surveys and market tests to understand market trends. This will help the company to predict cases of inflation and get ready.

As mentioned above, BESTFOOD DELICACIES will innovate in solving food business problems by embracing technology and staying ahead of the different trends. This will help the company to operate efficiently and remain relevant.

The better method of achieving stated results than current or previous ones

BESTFOOD DELICACIES Company illustrates a better method of achieving stated results than current or previous ones by using online delivery services, ensuring that the customers are served according to their needs. Apart from that, the company will also use the online delivery system to predict and study patterns, which will help in supply chain management and inflation issues. The company will also provide detailed information on resources like marketing expenses, sales projections, and specific actions that can be taken to reach the desired results. The specific actions that BESTFOOD DELICACIES company has taken include opening five branches in Australia and expanding its distribution channels. The company will continuously track progress, making it possible to adjust to strategy as needed (Guinan et al., 2019). BESTFOOD DELICACIES company illustrates a better approach to achieving the desired results.

MARKET UNDERSTANDING

Target market

BESTFOOD DELICACIES (BD) Company will offer its services in five main towns in Australia: Adelaide, Melbourne, Alice Springs, Canberra, and Brisbane. This company’s target market will be males and females aged seven years and above. The clients can be residents and non-residents since the towns receiving services are popular and prone to tourists. The company aims to deliver its products to persons who can use a smartphone and access one due to the inline ordering channel. A company also understands its target market by looking at and considering customer needs and wants (Hubbard, 2019). For instance, BESTFOOD DELICACIES Company allows its customers to order products they need by selecting ingredients that make that order and making the order directly. Another way of understanding the target market is through market segmentation. BESTFOOD DELICACIES segmented the market to understand its target market’s demographics, psychographics, and behavior.

The Metrics of Success

Business managers track a business success metric to see if their business techniques work efficiently. There are several types of success metrics which include; general business metrics, the success of the customer metrics, marketing metrics, sales metrics, developer metrics, and human resource metrics (Anderson et al., 1994). BEST FOOD DELICACIES company defines metrics of success through the following points;

• For customer metrics, BESTFOOD DELICACIES values customer feedback and customer retention using their high-quality products and services.
• For marketing metrics, BEST FOOD DELICACIES company tracks the number of users that use the online delivery channels daily and monitors new users.
• BD Company ensures that the general business metrics are tracked by calculating the gross profit margins, productivity, and the number of clients during a specific time frame.
• BD Company ensures the success of sales metrics by tracking new customers, which shows how fast the company is growing, through finding leads, i.e., customers with all the characteristics of the target market, and calculating the conversion rate from a lead to a customer.
• For the success of developer metrics, BD company evaluates the time the online ordering channel works over a given period, the daily active users of the online channel, and the time a customer takes to get a response.
• The business campaigns are also tracked in that the effectiveness of the brand awareness campaign is evaluated among the target market.
• Lastly, BD company checks employee feedback, retention rate, and satisfaction.

Process for evaluating the impact on the target market

When evaluating the impact on the target market, BESTFOOD DELICACIES considers the factors such as the size and demographic make-up of the target market, the competition, the current trends in the market, and the organization’s objectives in terms of its marketing strategy. Customer feedback is also considered, and campaign results are also analyzed. All potential risks associated with the target market are also analyzed. Lastly, the strategy’s performance over time to determine whether it has the desired effect is also tracked. The process followed when evaluating the impact on the target market is as follows;

• Firstly, detailed market research is conducted to help identify the market size and competitive landscape and target customer base.
• The second step that BD Company followed when evaluating the impact on the target market was developing a business plan outlining the business strategies and objectives.
• Thirdly, BD company conducts a financial analysis to determine business feasibility and potential.
• A marketing strategy is then developed to aid in finding customers.
• Lastly, BD Company creates a portfolio to see that they meet the customers’ needs.

FEASIBILITY

Operational and Financial

The financial outlook for BD is favorable. Due to the cash foundation of operation, the starting cost will be reasonably low. Drivers will primarily distribute the merchandise to the clients during the labor-intensive service delivery procedure. The most significant point of differentiation with employees will be the company’s financial investment in them. The high level of service delivery will make up for the training expenses because the staff will be knowledgeable and skilled. The manager will be in charge of keeping an eye on the company’s financial health and putting together a monthly financial report.

The operational feasibility of BEST FOOD DELICACIES Company includes the following;

• BESTFOOD DELICACIES will provide top-quality products to customers. The company will also ensure that all products are properly inspected before delivery to ensure food safety and quality.
• BESTFOOD DELICACIES Company will strive to provide competitive product prices. The company will focus on cost-saving measures such as efficient production and cost-effective sourcing.
• The company will offer delivery services to customers who make a delivery order, ensuring that customers get their orders on time.
• BESTFOOD DELICACIES will ensure that customers receive high-quality services and that their needs, queries, and complaints are promptly addressed.
• Lastly, BESTFOOD DELICACIES will also develop new products that meet the changing needs of its customers.

Break-even analysis

It’s a financial calculation to determine the number of products or services you must sell to at least cover your production costs. According to the research by GoCardless (2022), break-even analysis aids in identifying the point at which a new product or service will become viable for your company. Investors also use it to identify the point at which they will recover their investment and begin to profit.

It is calculated by Break-Even Quantity = Fixed.

It is advisable to conduct a break-even analysis when creating a new business because if you change your organization, such as introducing a new sales channel and switching your distribution model, the costs can change significantly.

Break-even chart

https://www.business2community.com/marketing/the-power-of-break-even-analysis-0528638

The viability of BESTFOOD DELICACIES business model

The likelihood of a business’s long-term existence and capacity to generate profits over an extended period are critical indicators of its viability. BESTFOOD DELICACIES business has room for expansion since it will be well run and has a network of shareholders and stakeholders. BD company also has five branches which shows a high chance of survival. BD company also offers high-quality ingredients and excellent customer service, which will form the foundation of BESTFOOD DELICACIES’ value proposition. They also collaborate with a network of restaurant owners, food distributors, and chefs in the food industry. BESTFOOD DELICACIES can find the greatest ingredients, give clients various choices, and offer cheap rates, showing the potential to survive.

Potential scalability

BESTFOOD DELICACIES continues to offer high-quality goods and services and builds upon its current business strategy; hence it has the potential for expansion and operational sustainability.

Marketing plan (acquiring customers, stakeholders, and influencers, communication strategy, and distribution plan).

Acquiring Customers/Users: BD will mainly get its customers through online platforms like the company’s main website and social media platforms like Facebook, Twitter, and Instagram. Customers will download the company’s app, which will be available for iOS and Android, and then enter all the appropriate information, like their payment details and addresses. Stakeholders and influencers: BESTFOOD DELICACIES company has various stakeholders and will be advertised on different online platforms like Twitter and Facebook. A search engine will be utilized to ensure that the clients easily find the company and its products. Key stakeholders, such as influential individuals, have also been identified. The company will also develop relationships with local business owners to collaborate on joint promotions and events. Communications Strategy: A comprehensive content marketing strategy has also been developed to create and share informative and engaging content. The company also utilizes its website to inform customers of new products, events, and promotions and social media platforms to interact with customers, answer questions, and promote the business.

The Team

Staff experience

BD has a range of expertise, including drivers, customer service representatives, vendor service agents, and cooks. These workers are proficient in time management and communication. The crew comprises highly skilled, informed experts familiar with the business planning process and the specifics of the sector. The employees’ backgrounds are varied, and possess various abilities, including project management, financial analysis, and marketing strategy. Plenty of the essential knowledge and personnel are required to carry out the strategy. The appropriate personnel can handle all customer requests without error or delay.

References

Anderson, E. W., Fornell, C., & Lehmann, D. R. (1994). Customer Satisfaction, Market Share, and Profitability: Findings from Sweden. Journal of Marketing, 58(3), 53–66. https://doi.org/10.2307/1252310

Barak. (2022, October 27). What are the Problems in the Food Industry? How to Overcome Them? SavorEat. https://savoreat.com/what-are-the-problems-in-the-food-industry-how-to-overcome-them/

Benzaghta, M. A., Elwalda, A., Mousa, M. M., Erkan, I., & Rahman, M. (2021). SWOT analysis applications: An integrative literature review. Journal of Global Business Insights, 6(1), 55-73.

Gjorgievska, L. (2022, May 3). 20+ Gripping Food Delivery Statistics in Australia. Take a Tumble. https://takeatumble.com.au/insights/lifestyle/food-delivery-statistics-australia/

GoCardless. (2022, May). Break-Even Analysis | Definition, Calculation, Pros & Cons. Gocardless.com. https://gocardless.com/guides/posts/what-is-break-even analysis. :text=Put%20simply%2C%20break%2Deven%20analysis

Guinan, P. J., Parise, S., & Langowitz, N. (2019). Creating an innovative digital project team: Levers to enable digital transformation. Business Horizons, 62(6), 717-727.

Hubbard, L. (2019, February 19). Why Is Identifying the Target Market So Important to a Company? Chron. https://smallbusiness.chron.com/identifying-target-market-important-company-76792.html