Business Simulation

Business Simulation

Syndicate 7Rishabh Chowdhry

Raghav GuptaSid ThaparNeer Singh

Shaurya ChaudhryVansh SharmaMohak Kohli Nehul Patidar

Introduction

• We are a start up which is trying to enter the food industry with our concept of serving desserts from a mobile business platform.

• Our brand Sweet Drive is headed by our team of 8 people who are all part of various verticals of this business, viz: Marketing, Finance, Research and Development and Human Resource

Opportunity

• India is known for its love for sweets and our desserts and appreciated across the globe.

• Similarly, we Indians love desserts from our overseas friends, but we’ve never found a place where we can get both and have both of them taste equally good.

• This gave us an opportunity to start a business which focuses primarily on desserts, bringing together the Indian and western flavors, on a mobile platform

Opportunity

• Another opportunity we would emphasis on is the availability of desserts in convenient places.

• A lot of times people have cravings for specific kind of foods, like waffles, ice creams. Pancakes,etc. but they are forced to travel long distances to suffice their cravings

Solution

• Our concept of dessert on wheels plans to solve these problem

• With our Truck located specific locations and various food carts spread across, we plan to solve the problem on inconvenient cravings

I feel like having a waffle

GET YOUR WAFFLES !

Solution

• To further understand this, we conducted a sale of waffles in our campus to see how people react to it and determine wheter or not they show any interest

• We received an overwhelming response! We asked the students as to why they were interested in our item?

• Majority of the responses stated that they were mostly attracted because waffles are not something that could find conveniently and with convenience available people bought them like hot cakes, literally.

The Market

• We conducted a survey to analyze and interpret our target market. We took a sample group of 30 people with age varying from 15-25

• We found the following

57%23%

20%

OccupationStudent Working Professionals Student/Working

From the pie chart we can conclude that, 57% of the total people survey were students followed by working professionals and working students. Putting the students in majority, we analyzed that our business will be more focused on the young crowd

• From the above pie chart we can conclude that, 57% people who were survey have already the experience of a food truck. This is a good sign for us because it shows that we are entering into a booming business.

Have you ever purchased from a food truck before?

57%

43%

Purchased From A Food TruckYes No

How often do you have a dessert?

• From the above graph, we can interpret that only 3 people out of 30 never indulge in desserts while the majority lies with once a month.

• However the remaining people are more frequent which is again an advantage for us

Never Once or more in a month

Once a day Once in 2-3 days Once in a week0

1

2

3

4

5

6

7

8

9

How often do you have a dessert?

Freq

uenc

y

What would you prefer more? Waffles or ice creams?

From the chart, we can interpret that the preference of people between waffles and ice creams are basically the same. So serving either one on our carts will yield a positive result.

33%

33%

33%

Preference of PeopleIce cream Waffle Both

How much would you trust a dessert cart in terms of quality and cleanliness maintained? Rate on a scale of 1 – 5

• Based on the above data, we can interpret that people still are not convinced with the idea of eating from a mobile food stand based on its quality cleanliness, so it becomes imperative for us to focus on these to aspects.

1 2 3 4 50

2

4

6

8

10

12

Quality And Cleanliness(Rating)

Rating

Freq

uenc

y

On the scale of 1-5 , rate the idea of a mobile dessert bar

• From the above data we can interpret that a majority of the people are interested in the idea of a mobile dessert truck and cart. Paving the way for our business.

1 2 3 4 50

2

4

6

8

10

12

Idea of mobile dessert(Rating)

Rating

Freq

uenc

y

Management Team

• Marketing- Rishabh Chowdhry, Raghav Gupta, Neer Singh, Vansh Sharma• Finance- Nehul Patidar , Sid Thapar • HR- Mohak Kohli• R&D- Shaurya Chaudhary

• Our main marketing strategy is an effort to spread awareness about our brand with the use of food carts which we will place at various different locations to promote our brand and to demonstrate our services.

• The food cart will act as a mobile advertising platform with attractive hoarding to catch the attention of the customer.

Marketing Plan

Since the truck can be placed in only one or two places, our carts will help our customers in reaching us in more than a specified location.

Pain Areas

• Cash management problem

• Order Processing

•Legal issues

•Shortage of equipment and ingredients

•Throwing waste and garbage

Solutions

• Hire Consultant for legal issues

• Cash counter

• Co-ordiantion between the team members

• Keeping Dustbins around cart/truck

Finance Strategy

Penetration pricing is a pricing strategy where the price of a product is initially set low to rapidly reach a wide fraction of the market and initiate word of mouth. The strategy works on the expectation that customers will switch to the new brand because of the lower price.

• BREAKING DOWN 'Penetration Pricing'

• Penetration pricing can be a successful marketing strategy when applied correctly. It can often increase both market share and sales volume. Additionally, the high sales volume can also lead to lower production costs and higher inventory turnover, both of which are positive for any firm with fixed overhead.

• Price skimming is a pricing strategy in which a marketer sets a relatively high price for a product or service at first, then lowers the price over time. It is a temporal version of price discrimination/yield management.

Price skimming

2PM

6PM

Cost

• 150 lt freezers 5000 * 4 = 20000

• 500 lt freezer 15000 *4 = 60000

• Waffle maker 3000 *2 = 6000

• Ice cream machine 150000

• Truck traveller (Force traveller 4020) rs 400000

Promotional Strategy

• We started using “1+1” strategy at the end, to boost our sales.• Initially we provide the customers with a free topping(Maple Syrup).• Giving monetary discounts to first 10 customers.• Tie up with mobikwik and paytm for cashback offers.

How to submit application?

1. Application should be submitted to the State Authority/Regional Office of Food Safety and Standards of India, within fifteen days from the date of submission of application online.

2. Print out of Online Application Form is mandatory as part of the application submitted. The application will not be accepted and processed without the Online Application Form.

3. Fees and supportive documents required to be submitted as part of the application.

Licensing or Registration of Food Business Operators (FBOs) is an important activity under FSSAI; this not only envisages integrating the individual licensing activities of various divisions of FSSAI under a single Licensing System, at Central or State.The Registration of the food vendors has started since April 2014 in various cities across India. The food vendors can go with valid documents to nearby General Resource Centres of their cities and do the registration.

How to Apply for License/Registration

• How to Apply for License/Registration

• For License: FBO’s are required to have a valid personal e-mail ID and Mobile Number which should be kept active.

• For Registration: FBO’s are required to have a valid personal e-mail ID OR Mobile Number• The name of the FBO should be spelt correctly in the application as it appears in the License.• On successful submission of application, the system will generate a unique Reference Id for

the application.• Take a print out of the “Acknowledgment” and “Online Application Form” and attach the

Demand Draft for the fee (if payment mode is Demand Draft) and supported documents required as part of the application and submit the application to your State Authority or Regional Office of Food Safety and Standards Authority of India, within 15 days from the date of submission of application online.

• The Fees for Registration Rs 100

Step 1 Registration

Documents for Registration

Documents Req. for State license

Documents Req. for Central license

License fees

Digital Approach

• Do’s and Don’t’s1. Need not cover every social media

2. Covering handles instead of logos

3. Social post not just about you

Getting your name out

• Review websites

• Food bloggers

• Press plan

Awareness

• Giveaways

• Contests

• Word of Mouth

• Stage Events.

Conclusion

• Our marketing strategy was successful in capturing the customers in college.

• Our finance plan also helped us in generating and cutting down our costs

• The proper research we conducted was helpful in knowing the market demand and taste & preferences of the customers

THANK YOU