Hire Private Chefs, Book Restaurants, And Catering Companies For Food On Table: Essay.

Features of the App

Innovation and creativity are the key aspect for a business to run in a market. In today’s world where technology is growing faster and rapidly every business are into digital market. Considering the need of consumers, we have come with a business plan and trying to put it into the market which is called Food on Table. Food on Table is a company when a general consumers could go in and hire their own private chef to cook for them. We are here trying to connect general customer to chefs, catering business, restaurant to organize food in a private function. In this era, people are still looking for various catering companies and chef through various website, advertisement for hours with very few options available. We are trying top change that and provide options to choose through our apps and website for customers. This app will create jobs and opportunities to independent hospitalities workers.

Many applications and platforms are created online day by day. People prefer and stick towards online things because it is easier, compatible and can be accessed through any devices or any places. People are fond of having parties and entertainment. They want the best chefs as well as best and healthy food items. As well as people love going out to restaurants as well as to perform different occasions and celebrations. We came to know that it is hard to hire private chefs as well as catering company for any private function easily with in a same application. Thus, in this report, we are going to talk about app that we going to build. The app is kind of online ordering system that includes various features. Some of the features of this application are listed below: 

Hire Chefs

This app will allow you to search the chefs nearby and view the qualifications as well as overall performance of his/her. People can have various options to choose chefs for their special events and can hire them according to their wish.

Book Restaurant

On special occasions like birthday, weeding parties, anniversaries and so on, people have option to book a restaurant of their choice. They can see the overall rating and reviews of the restaurant too.

Hire Catering Company

People can have big events where they need to hire catering company because of huge number of people. That is the best option to call for them to help. The app can load various catering companies, so the people have option to choose best between them.

Supply of Good and Food Items

When a chef is going to attend can function or small events, he/she can make a list of their supplies and goods they need to cook there. This app allows to order the supplies fresh from the market. Thus, it will be easier to get the items easily and don’t have to rush to the market.

Globalization and technology improvements have created the flat earth hypothesis, which states that every firm has an equal chance to grow and succeed by competing with one another with an innovative and distinctive strategy. The most crucial component of starting a new firm is developing a competitive strategy, which may be accomplished by researching market circumstances and identifying target clients (Porter, 1997). The road of penetration into a new market with a set of strict plans and an assessment of current rivals is the most important ingredient for any firm to succeed. The marketing mix is a marketing strategy that specifies how product, pricing, location, and promotion are all carefully planned (Smith et al., 1992). Hire Chef is an innovative form of business which has not been practiced in recent years and gives an edge for its uniqueness. The Competitive strategy can be analyzed in the light of marketing mix with the accurate positioning of Product, Price, Place and Positioning.

Competitive Strategy

Product: Hire Chef is an online platform business that is accentuated with closed relationship between the customers and services. It’s a one stop solution in hiring chefs for personal use of restaurants, party, and functions. This is also concerned with the booking of hotels and dines in tables that are becoming one of the necessities in recent times with the onset of digitalization.

Price: Hire Chef price is one of the most significant things that has to be diversified in order to accommodate new entrants into the market. The price will vary depending on the service that the client hires; for example, if the customer wants to hire a chef, he may see the specifics of his payment and speak with him directly and Hire Chef will charge a tiny amount for its services. In the event of hotel bookings, the proportion collected from the consumers will be extremely low because the hotel will collaborate and pay a percentage of the booking to Hire Chef, allowing for a low price for the services.

Place: Hire Chef is a digital initiative and is concerned with online platform. This will be based for the online customers with a selection of targeted customers who can be in need of the services. For example, student’s accommodation who can hire a chef, the corporate houses who do organize parties and gives contract. This is a business that capsules holistic market, and the booking can be done online.

Promotion: The social platforms is the biggest place for the promotion of the business including physical advertisements on super stores, accommodations, corporate houses, hotels etc. The promotion will be in form of digital ads on social pages that has the most access like Facebook, Instagram etc.

There are four basic components that need to be evaluated to form competitive marketing position and are of uttermost importance because the branding of the product and services are secondary as there are key components that should be clearly perceived by the customers, such as (Hauser, 1988).

Differentiation of product/service: Hire Chef is a unique and original concept since it offers services that are often used in everyday life. The rise of the working class and improved economic conditions has transformed customers' perceptions of one-stop shopping for all their requirements, whether it's food, groceries, or clothing. People don't want to cook after a long day at work and checking the status of a restaurant table and booking ahead of time to prevent waiting has become the new normal, which is where Hire Chef stands apart.

Value Proposition to customers: The most important question that any firm should assess and verify is why they should choose you and what are the qualities or components that attract clients (Payne et al., 2017). Hire Chef's services and novel concept are what make customers feel at ease after a long day.

Brand Promise: This is the trust that a customer builds on the product and services.

Singularity Concept:  The one thing that is only found in this business other than any other which is called a distinctive characteristic.  

Product

We are well placed to take on the available market in South Australia and other main Australian cities, and we are confident that we can achieve our goal of generating sufficient income / profits within the first six months of operations, as well as expand the company and our customer base outside South Australia. To estimate the cash flow forecast for this project, it is important to outline the cash balance for the first month, on this stage it will be the budget that the company has to start the plan. It is estimated that an online business can start with $5,000 to $10,000 budget including all fixed and variable costs (Card Connect, n.d.).

Below is the number of user projection for HIRECHEF based on location of our business and the products that we’ll be offering.

• First Fiscal Year-: 10000
• Second Year-: 20000
• Third Year-: 50000

This forecast is focused on what is currently available in the market and the assumption that there will be no significant economic downturn and that no major competitor will provide the same additional services as we do in the same place. The fees to register your business name with ASIC are:

• $37 for 1 year
• $87 for 3 years (Australian Securities and Investment Commission, n.d.)

This is the estimate cost to build the website for the company. This built will help to stand out from the competition and run the business smoothly. This built fills the entire requirement for the business:

 Domain name - $44.25

 Website design - $3000

Maintenance ((50x12) x 3) - $1800 (Webalive, 2021)

Telstra website builder and assistance - $80 a month - includes listing products for sale Includes 5 email addresses (Telstra Business Website Services, n.d.).

Telstra NBN unlimited data $90 for 6 months, $100 per month thereafter. Telstra office phone plan - $55 per month. MYOB - accounting software - free for 3 months with Telstra (Telstra Small Business, n.d.). 

The cost to advertise on Facebook depends on budget. Then Facebook will try to get as many results as possible for that budget. Company can spend according to the budget $20 a week or $20000 a week. Some types of advanced ads require a minimum amount of spend to work. Notification is sent while creating it. There are two ways to define cost:

• Overall amount spent
• Cost of each result you get (Meta for business, n.d)

• Investing Ourselves

We are funding business with our cash, and it should focus on increasing the user and proceed for future development of the company

• Taking loans: Asking any friends and family is smart business approach as they will want you to be successful and also, they are unlikely to demand ridiculous interest rates or a structured payment plan
• Finding an angel investor

The benefit of funding your business via angel investment is that the investor will always bring more than just money to the table. Angel investors are business experts with the knowledge and contacts necessary to scale your business growth

• Crowd Funding

There are different models of fundraising: donation-based, rewards-based, loan-based, or equity investment-based. It is also a smart marketing strategy, has you had access to the wider public and can, therefore, promote your business too (Card Connect, n.d.).

The estimation for this business to be lucrative is two to three years. That said, Food on Table could become lucrative immediately or take three years or longer to make money. 

References

Advertising Printing Australia. (2016, January 15). How to Make Your Flyer Distribution Campaign More Effective. https://www.advertisingprinting.com.au/how-to-make-your-flyer-distribution-campaign-more-effective/Australian Government Business, (2021, June 23). Social media for business.

https://business.gov.au/online/social-media-for-business#benefits-of-social-media-for-business Australian Securities and Investment Commission. ( n.d.). Business name fees and payment options. https://asic.gov.au/for business/payments-fees-and-invoices/payment-options/business-name-fees-and-payment-options/Card Connect, (n.d.). Ecommerce startup costs.

https://cardconnect.com/launchpointe/running-a-business/ecommerce-startup-costs Card Connect, (n.d.). How to start a business.

https://cardconnect.com/launchpointe/running-a-business/how-to-start-a-business Hauser, J. R. (1988). Note—Competitive price and positioning strategies. Marketing Science, 7(1), 76-91.

Margot Whitney, 2019. 5 Reasons You Should Be Advertising on Facebook. Word Stream.

https://www.wordstream.com/blog/ws/2015/10/14/advertising-on-facebook

Meta for business,(n.d.). Meta Business Help Centre.https://www.facebook.com/business/help/201828586525529?id=62933804410621 Murray Newlands. (2017). 10 Social-Media Marketing Strategies for CompaniesEntrepreneur.

https://www.entrepreneur.com/article/293321 Payne, A., Frow, P., & Eggert, A. (2017). The customer value proposition: evolution, development, and application in marketing. Journal of the Academy of Marketing Science, 45(4), 467-489.

Piercy, N., & Giles, W. (1989). Making SWOT analysis work. Marketing Intelligence & Planning.

Porter, M. E. (1997). Competitive strategy. Measuring business excellence.

Smith, K. G., Grimm, C. M., & Gannon, M. J. (1992). Dynamics of competitive strategy. Sage Publications, Inc.

Telstra Business Website Services.(n.d.).

https://telstradigitalmarketing.com.au/websites/#plan-comparison  Telstra Small Business.( n.d.).  

https://www.telstra.com.au/small-business

Webalive. (2021, June 1). How much does a website cost in Australia?

https://www.webalive.com.au/website-cost/#%3A~%3Atext%3DFinally%2C%20here%20is%20a%20rough%2CEcommerce%20site%3A%20%246000%20to%20%2415%2C000