Photo - My Foodo
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My Foodo

Food Tech startup

UAE
Market: Food industry, Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 21.06.2021
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Idea

50 to 60% of Asian expats around the GCC depend on a Monthly meal package; a subscription often referred to as “MESS”. Mess is a food plan agreed with a restaurant, that offers customers daily meals with an affordable monthly fee. The top 3 problems they face in this process are 1.They have to eat in 1 restaurant every day (breakfast | Lunch | Dinner) 2.Menu is decided by the restaurant, No freedom to choose what they want to eat) 3.If the customer's Work location is different or far from the Home location then the customer has to travel back to another location to have their meal. we provide

Current Status

We tested the idea with a manual pilot for 6 months, acquired 270 monthly paying customers,50 restaurants, and made +AED 300k revenue.

Market

Asian Expats salary range of AED 2000 to AED 8000

TAM: $34.1B
SAM: $9.7B
SOM: $971M

Problem or Opportunity

50 to 60% of Asian expats around the GCC depend on a Monthly meal package; a subscription often referred to as “MESS”. Mess is a food plan agreed with a restaurant, that offers customers daily meals with an affordable monthly fee. The top 3 problems they face in this process are
1. They have to eat in 1 restaurant every day (breakfast | Lunch | Dinner) 2.Menu is decided by the restaurant, No freedom to choose what they want to eat) 3.If the customer's Work location is different or far from the Home location then the customer has to travel back to another location to have their meal. we provide the solution for all these problems.
TAM: $34.1B
SAM: $9.7B
SOM: $971M

Solution (product or service)

-Through a mobile app
-Monthly subscription with online payments
-Select Up to 5 favorite restaurants from our wide
range of restaurants under 1 mess
-Customize menu as per wish
-Free delivery or dine-in option in 2 locations (Home & Office)
-Customize the plan to include high-end and low-end
restaurants according to your budget
-Customer service

Competitors

1)Individual Traditional restaurants-
2)Make My Meal

Advantages or differentiators

Difference and advantage
*My foodo*
Select more than 1 restaurant under 1 mess - YES
Service in 2 location - YES
Menu customization option- YES
Budget-friendly- YES
Various cuisine Under 1 Mess -YES
Free Delivery- YES
Online Platform - YES
30 days service availability - YES

*Make My Meal*
Select more than 1 restaurant under 1 mess - NO
Service in 2 location - NO
Menu customization option- NO
Budget-friendly- NO
Various cuisine Under 1 Mess -NO
Free Delivery- YES
Online Platform - YES
30 days service availability - NO

*Traditional Individual restaurant*
Select more than 1 restaurant under 1 mess - NO
Service in 2 location - NO
Menu customization option- Limited
Budget-friendly- YES
Various cuisine Under 1 Mess -NO
Free Delivery- NO
Online Platform - NO
30 days service availability - YES

Finance

Traction - Average Subscription Price-AED 350
link to Traction-
https://docs.google.com/spreadsheets/d/1__vv5reQ8J-z1-e1g0CqtyntUIrvbnwB-eLeLbj7B2Y/edit?usp=sharing

5 years business forecast -
https://docs.google.com/spreadsheets/d/1LEinGpWWYumM8ieUI6U2ibpBl7lE0lsiT4CxJmIP3Ws/edit?usp=sharing

Business model

20% commission in total
15% from the restaurants
5% from customers

Money will be spent on

we would allocate the funds to three key areas: 1. hiring more developers to accelerate the development of the first version of our Mobile Application to launch the product. 2. Marketing and sales to conquer our initial target market and 3. for operational cost.

Offer for investor

I will say at the Meeting

Team or Management

Risks

It's an Untouched market on a big scale if big Online food aggregator that mainly focuses on 8% of the market. an online platforms like zomato and talabat's target customers and business model are different only risk would be if these companies enter our market there.

Incubation/Acceleration programs accomplishment

No, i have not attended or participated

Won the competition and other awards

no
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video