Unfortunately, with the thousands of meals served you lose lakhs of rupees on a daily basis. A month goes by and then another. With the number of people ordering with you going up, you start losing more and more money. New players come in looking at your success and they follow the same cycle with little or no differentiation but more and more discounts. The cycle of losses just repeats itself. Once the cycle is repeated a few times, the vc community gets disillusioned too. Only if excel sheets had a provision to factor in harsh realities of life, so many businesses wouldnt have shut down, or started for that matter. In reality it takes a lot to get that 57 margin.
Meals Delivery business, my next
So, we have an exciting food aggregator or a food delivery business. The plan looks and feels gender fool proof. So you get enough seed capital too. Then you hit the resume market and realize that you first need to get to a critical mass of customers to make it a real business. To get to the critical mass you need to educate the customer of the advantages of ordering with you, which essentially means that you need to woo the customer. Then you realize - here wooing means giving out free lunches and sacrificing your bottom line for. They work like magic. Suddenly, tens of thousands people download your app overnight. The no of meals serverd follow that proverbial hockey stick model. Investors are happy too.
However the reality kicks in fast. I can tell you from book my experience that food business is a tough business to run and with out proper experience and infinite passion, who will get rammed and disillusioned in no time. A lot of food tech entrepreneurs run out of steam here. Now, a lot of food tech entrepreneurs are smarter. They know that their strength is not food and they dont want to get into it either. So they build a plan in which the food is outsourced and they are just providing the technology and logistics. Someone who knows there is a 57 gross margin and doesnt want to put in the effort of cooking, may like to part with 50 of that margin to the person who is cooking the food. He still has close to 30 gross margin and a business which is highly scalable and tech driven.
I was once told by an Income tax Commissioner that there is no food business in the traditional Indian businesses that has ever submitted a loss making Income tax Return. Now lets look at a food tech business plan. If you have a plan for an asset light food tech business, youll realize that there is no better business to get into. If you make something for. 33, invest other. 10 for other business expenses (without having to pay that high street rent) and margaret sell your product for.100, you book a gross margin. Thus, its the sexiest plan a budding summary entrepreneur who wants to prepare food and sell it can have, and the billion plus strong Indian population, will favor every excel sheet on the planet.
Many a times the focus to solve a real problem and run a real business is lost too, in the thin air. Although a lot has been said about encouraging and fostering the spirit of entrepreneurship, little thought has been given to creation of real businesses businesses that are useful for the customer and the society, businesses that make money, businesses that create wealth for the entrepreneur. While the principle of solving problems, creating value and making money has been adhered to, there has been a dearth of depth in kind of problems that people have chosen to solve. In cases where people have found the best of the problems to solve, the solutions are either logically flawed or make absolutely no business sense or have failed at effective execution. A case in point is the food tech business. Ask a traditional baniya and he will tell you that you can never lose money in the food business. Its just impossible to lose money in a business with gross margins as high 60-70. They can take care of all its overheads and your inefficiencies and mistakes (if any) and still leave a lot in your kitty as net profits. It is a common knowledge thing.
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Got food?21 foodBusiness Ideasyou can Startfrom Home. Feb 05, 2012 news Home » Business » India business. Sports and business news at The quint. Why i snapchatted my journey home. When Will we start Grieving The young lives.
Starting a food business. This section gives writers you all the advice you need to start a food business. Including catering businesses run from home and mobile. Excel sheets could be very well credited to have made the most important contribution to start up history. All start-ups start on an Excel sheet. The truth is, you build Excel sheets, much like you build castles in thin air. Everything looks beautiful, sexy and rewarding.
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How to Start a catering summary Business. Heres a comprehensive guide to help start your catering business. Even retrofitting your home kitchen to commercial. 10 home based small business ideas for women in India hi, start your home based catering business: 10 home based small business ideas for women in India. How to Start a catering Business From Home What i need to Start a catering Business; starting a catering business from home might. How to Start a catering Business? Scope of Catering Business in India i am 28 years old and I have to start a home catering business. How starting a catering Business How to Start a catering.
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How to get a home based Catering License in Indiana. Indiana State requirements to Start. So you're serious about starting your own catering business? There's a lot to think about There is an element of risk in starting any business. Starting a business. Kolkata - india (costs starts at inr 350 for seal, home; Data; India; Kolkata; Starting a business. Home sample business Plans food Click here to view the full Business Plan. Catering Business Plan.1 Start-up Summary. Fressen Catering will incur.
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