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An idea is only an opportunity when the consumer sees your product on the shelf, and they try it for the first time, getting your product on the consumer's plate.The biggest hurdle is getting them back the second time and beyond, the term being Repeat Purchase which is consumer loyalty or consumer preference.Unlike Homer, rivals focus on the consumer making the order, instead of the restaurant that cooks the food. Customers go to the company's web site or use its app, find an eatery, and place their order.
When you are contemplating a tasty new specialty food or beverage product to build a business around, you want to get to the feasibility of your idea—meaning how successful it might really be.
Feasibility is the first step in your food entrepreneurial journey because not all ideas are opportunities.
Price's answer was to create a centralized logistics system which takes orders from multiple, participating restaurants and then assigns them to Homer's own deliverers, who communicate with headquarters via an app; it also tracks their location and other information.
"We aggregate demand by sharing deliveries across different restaurants," he said.
"It's much more efficient to do this from the restaurant perspective." Perhaps most important is the company's staff of delivery people, who get a full roster of benefits.
Sample School Business Plan - Food Delivery Service Business Plan
To keep turnover at a level of less than 10 percent, employees receive a guaranteed salary starting at an hour, including tips, plus bonuses; average pay is around an hour.
Homer charges restaurants an undisclosed percentage of the total order, plus a flat-fee for each delivery.
Now, the company has around 200 employees, most of them delivery staffers making about 25,000 drop-offs a month.
The sooner you get from an idea to an idea that has been vetted as feasible, the sooner you get started, go back and try another idea, and of course, this process increases your chances for success. The one-pager as it is called forces the budding food entrepreneur to think clearly about the business idea and has a framework that forces you to put the essentials on one page.
The thinking behind this is if you can't get it to one page you will not be able to clearly articulate your opportunity to other stakeholders such as business associates, potential investors and banks, and retail buyers.