Business Model and Plan Report

Executive Summary:

This report is divided into two parts i.e. the existing business venture (Mr Yum) and the proposed business idea (At your EASE). Mr Yum is a foodtech business that offers interactive menus digitally in Melbourne, Australia. Participating restaurants will place their menus online with curated photos of dishes next to each list, helping confused diners to fully appreciate what they’re having and prevent making bad decision. In the meantime, Mr. Yum is encouraging the restaurant business to create a digital link with its clients and to sell online. The proposed business idea is based on the concept of cloud kitchen i.e. “At your EASE”. It is mainly a restaurant kitchen that only receives order details with online booking mechanisms and does not offer fine dining-in services. The aim of the business plan is to examine and assess the potential and prospective competitiveness and productivity of emerging technological advancement within the Food Industry, of the latest business venture. Evaluation approaches include the business canvas model, cost effectiveness and financial feasibility. “At your EASE” will have system for online delivery and app for online booking, or can take orders through the use of the multiple channels for food delivery. As the key source of revenue for this internet restaurants are through the numerous platforms for food ordering, such as homes, offices, etc., it is important to have a point of Sales program that allows orders from numerous perspectives. This will save the trouble of constantly incorporating and measuring transactions at the end of each day from various affirmative action plans. The Business Canvas model consists of 9 elements for defining, visualizing, analyzing and modifying business models that embody a common language. This illustrates the reasoning for how a company produces, new market and value network. The business canvas model of “At your EASE” illustrates the visual depiction of the newly proposed venture.

PART 1:

Business Model Critical Analysis

• Mr Yum

Introduction

Mr Yum offers automated menu services for restaurants. It creates an online platform for clients to check the QR code and have the menu options with photos, ingredients details, etc. in different languages (Black, 2019). It also helps users to search menu listings centered on eating preferences. Mr. Yum was formed by Kim Teo and Kerry Osborn in Collingwood, Australia in 2018. Pitchblack is offering $1.5 million in total funding. Mr. Yum’s rivals are Compeat (Austin), APICBASE, Acewill, Appetas, etc. (Black, 2019).

Mr. Yum is a foodtech business that offers interactive menus digitally. Participating restaurants will place their menus online with curated photos of dishes next to each list, helping confused diners to fully appreciate what they’re having and prevent making bad decision. In the meantime, Mr. Yum is encouraging the restaurant business to create a digital link with its clients and to sell online.

Major product/service benefits, features and/or experience

Mr. Yum offers stunning mobile offerings and request & payment options at the finest cafes, bars and restaurants. Mr. Yum is supplying consumers with a food service system. It provides smartphone picture meals for Melbourne’s restaurants & cafes (Palmer-Derrien, 2019). Mr. Yum is a web-based interactive menu featuring images of each meal, details of ingredients, food templates and menu adaptations into five various languages. Excellent illustration: mryum.com/proudmary it really is an on-site, web-based mobile purchasing and paying platform.

Control, track, optimise.

In Mr Yum, it is all in timely manner. Monitor purchases and moving patterns. Update menu options, accessibility, advertising and photographs immediately. Optimize the menu to boost transformation and average spending (Mr Yum, n.d)

• Monitor orders and engage with clients
• Have access to quick selling and forecast monitoring
• Display and view consumer data and buying behavior
• Immediately update items on the menu, accessibility, marketing and pictures
• Build specials, deal and coupons on the go.
• Package Dinner-Food requests to eliminate kitchen registrations

Mr Yum, a Melbourne-based technology start-up, works to control your aspirations and alleviate dissatisfaction. Mr Yum has created a free app that enables diners to view images of dishes before ordering them. To use a smartphone camera to enter the Code on the display at competing sites, diners can browse the digital edition of the particular restaurant on Mr Yum’s official portal (Palmer-Derrien, 2019).

Critical analyses of the chosen venture’s business model and value propositions

Mr. Yum is seeking Australian cafes and restaurants who choose not to pay an extra fee for Uber Eats and Deliveroo. Mr. Yum has introduced a brand-new delivery registry that informs you which cafes, restaurants and bars are all within 5 km radius of your house. With the exception of his rivals, Mr. Yum has no delivery drivers. Rather, it provides places to choose how to distribute directly, hire third-party drivers, and pick-up exclusively. Mr Yum wants to be positioned as just an easy-to – access and user-friendly online site (Mr Yum, n.d).

Ethical considerations

No, there is no such ethical issues that Mr Yum might have to address because it is an online business which make it more stable and freer from any misconduct or unethical considerations. Mr Yum is working as a digital foodtech business that involve very less complications as it just helps food lovers to make their food orders in much good way and manner. Generally speaking, food and ethics are very closely linked in our daily activities. The principles and traditions of both food and ethics are vast, so it is important to be specific about what ‘food ethics’ means. Food ethics is a diverse discipline which offers ethical analysis and feedback on human behavior in food production, distribution, processing and distribution.

In addition, the protection of an ethical supply chain typically leads to higher supply and labor costs and higher consumer prices. The growing customer understanding of and requirement for ethical sourcing, however, increases the need for manufacturers to recognize sourcing ethics. Today ‘s ethical processing is where the protection of food was 15 years ago. Consumers want to ensure that their food is grown and stored in a way that satisfies their own environmental and social expectations.

PART 2

Introduction

The Restaurant Game is difficult, challenging and highly satisfying, but it is critical to maintain that your competitiveness is maximized and sustained (Dickerson and Hassanien, 2018). Establishing and sustaining a restaurant in today’s day and age is as costly as it is, with all kinds of obligations, personnel problems, costs and extra charges, and, on top of that, humans are experiencing a huge and significant growth in the restaurant industry, which challenges the commercial feasibility of established restaurants. There is a tremendous growth of the food industry all over the world that suits well with the busy society (Maimaiti, Zhao, Jia, Ru and Zhu, 2018). That’s no surprise that there’s a significant shift going up every day for individuals ordering food delivered to their home, workplace or event (Darmon and Warde, 2019). It is not easy way to ensure a consistent front of the house staff, and the expenses of maintaining the front of the house continue to go up more than the operating margins. Energy, gas, electricity, flowers, furniture, kitchen utensils, crockery, kitchenware, washing dishes, detergents, servicing costs for bathrooms, sweeping, runners, etc. are all necessary requirement for operationalizing a business.

In this competitive world, assume catering your menu to current and new online visitors who dine without the operating costs of a restaurant and the costs of fixed production staff in the comfort of home, hotel space, or at gatherings (Razumeyko, 2020). Moreover, also assume understanding and monitoring the expenses down to the last percent and not getting the nasty expensive surprises that come with the everyday running of a cafe or restaurant all too much. Operating from a cloud kitchen helps you to focus on managing your expenditures and absorb your resources and money without fixed costs so that you can just concentrate on delivering the foods you like. Cloud kitchens instantly seem to be the only reasonable thing to do to handle high rents and decreased margins with the introduction of cloud technology, which enables online ordering. The new trend that has rapidly developed itself within the restaurant business as a powerful restaurant design is the cloud kitchen or the online kitchen (Choudhary, 2019). Cloud Kitchens seems like a better way to enter the restaurant business, with fierce competition in the restaurant sector, high rents, and increasing costs (WATKINS, 2020). We can guarantee you that the cloud kitchen pattern is here to remain with the technological revolution reaching the restaurant business, and that several bends from that now can only develop. There is vast research conducted that shows that cloud kitchens have captured just 13 percent of the overall market size. It illustrates the tremendous potential this dread to think-format carries.

The proposed business idea is named as “At your EASE” for the people of Australia. It is a cloud kitchen which mainly a restaurant kitchen that only receives order details with online booking mechanisms and does not offer fine dining-in services. It is like dark kitchens, ghost kitchens, virtual restaurants, and satellite kitchens. Mainly, “At your EASE” are configured on the basic model of cloud restaurant. “At your EASE” will have system for online delivery and app for online booking, or can take orders through the use of the multiple channels for food delivery. As the key source of revenue for this internet restaurants are through the numerous platforms for food ordering, such as homes, offices, etc., it is important to have a point of Sales program that allows orders from numerous perspectives. This will save the trouble of constantly incorporating and measuring transactions at the end of each day from various affirmative action plans.

“At your EASE” recognize the difficulties that businesses face in working with complex telecommunications companies. Because this is at the point of purchase, when enforcing or even knowing the payment, we know it can be a stressful, time-consuming and expensive operation. At we specialize in developing relationships with our customers, connections that last. Our extremely competent application development experts are committed to making sure that our service is properly provided, handled and managed to the standards required thus presenting you with the greatest increase in value. “At your EASE” has built our connectivity packages through convenience, careful management and protection, integrating best-of-breed software with a dedication to delivering 360-degree solutions and services. We also recognise that the effective collaborations should be versatile and we will be delighted to adapt your whole application development solution to your needs.

The company brand is seen as a high-quality service in Australia and comprises of being exclusive totally unique. The mission statement for “At your EASE” is new technology to fulfil people food cravings. The targets “At your EASE” wish to accomplish consist of:

• Using new state-of-the-art technology
• Creating value / meals of high quality
• Giving outstanding customer support
• Generate a major customer following the
• Be compatible with Melbourne’s most famous restaurants

• Technology focused

Both large and small companies need effective and safe IT that can be reached out and about. “At your EASE” offers selection and trust. We have partnered with a range of professionals to achieve the right service solutions, all supported by 24/7 support and security procedures that you can depend on.

• Support and Safety management

“At your EASE” by concentrating on preventative maintenance and system testing, decreases the security risks. Our managed service is customized to your needs and can evolve with emerging technologies and events that are important to food lovers.

• Mobility solutions

Mobiles with the highest coverage in Australia. From iPhone to Android. “At your EASE” covered everything. So, each device will be supported by us and our team of mobile experts will get you into the right device and prepare quickly. Whatever your choice for cellular applications.

Business Model Canvas

The fundamental relations between the nine components of the canvas model and the value proportion of the business, the customer part that the company utilizes, are deeply associated with the business canvas model’s and revenue generated (Joyce and Paquin, 2016). Thus, according to Tokarski, Tokarski and Wójcik (2017), the networks used by the company to make a bid among customers are often legitimately associated with square fragments of customers and the relationship squares of customers. Then again, the critical exercises that the business attempts will also fulfil the requirements of the customer and increase customer contacts in order to generate valid revenue according to the revenue streams (Hermawan, Salamin and Putra, 2018). Following is the Business Model Canvas of the proposed “At your EASE”.

1. Customer Segments

• Located at Melbourne, Australia
• Mid to high socio-economic market
• For all age group people resided in Melbourne, Australia.

2. Value Proposition

The aim of sustaining daily food intake and fulfilling their interests is to meet the target consumer needs.

3. Customer Relationships

A devoted assistance service is the client partnership between “At your EASE” and the target market.

4. Channels

“At your EASE” enables digital networks to source all resources and offers a service exclusively to all consumers.

5. Key Activities

Supplying high-quality food through distribution channel, presenting all customers with great and easy service

6. Key Resources

• Our ingredients
• Computer software
• Kitchen equipment

7. Key Partners

Our ingredient vendors and technical assistance are key collaborators.

8. Cost Structure

Product Cost:

• Kitchen equipment cost
• Ingredients, processing suppliers

Service Cost:

• Waiters, Chefs
• Staff wages,

9. Revenue Structure

The structure of revenue is the structure of production. The processing structure is when a corporation manufactures and offers the product or service to consumers who value it and account for it.

Financial projections

• Startup costs: The estimated startup cost is $18,750 and equipment/ capital cost is $6000 as resented in Appendix 1.
• Project Profit and Loss statement: the projected Profit and Loss Statement is presented in the Appendix 2.