Opportunity execution project

OPPORTUNITY EXECUTION PROJECT

By-

Rachit Mehta, Varun Khandelwal, Harshad Shah, Neha Nanda, Mihir Mehta

Startup idea: Online grocery store(India)

 Our startup idea is E-Z grocery (e-tailer for Groceries ). Groceries form a major chunk of sales in retail markets and these are unorganized mom and pop shops run by family members in India. And now with the growth in working urban couples, internet friendly shoppers, rising disposable incomes and rising ecommerce reliability, times are changing. There are quite a few benefits of shopping online for groceries. Working/Busy customers can save time in terms of commuting, waiting in long queues at billing counter.

Executive Summary With the busy lives that most of us lead these days,

anything that saves time is a boon. e-z grocery is a fantastic and extremely convenient way

to shop groceries. We provide a free home delivery service which saves you on wasting your precious time in traffic snarls, browsing through the product lines, payment queues .

Imagine all the things you could do with all the time saved, like spending quality time with the kids, or perhaps even catching the movie you have been meaning to see.

We also have a huge variety of products line up which a normal brick-mortar grocery wouldn't house.

We are very customer obsessed and believe in providing the best service.

Personal Story

We (Harshad, Rachit, Neha, Varun and Mihir), obviously want to become entrepreneurs and it is this quest that brought all of us together through this technology entrepreneurship course.

We are young and talented bunch of people who really want to make difference in people's lives. Our team is a nice blend of experience, fresh blood, tech savvy and domain experts

Marketing

1.Website first2.Social Media marketing3.Local search engine optimization4.Blog writing and marketing5.Weekly newsletter6.Geo targets7.Chain marketing offers

Sales Analysis

Partners and Allies

The partners of our enterprise would be the people would help us to transport the goods from the source to our storage. This would be logistic companies. Logistic companies will help us procure and deliver our goods. Suppliers like farmers and companies that manufacture grocery products would be partners. Even local bakeries and dairies would be useful partnerships

Partners

However our approach initially would be to approach the middlemen. We would like to eliminate some middlemen while working with a few so as to eliminate cost. Yet eventually the goal would be to reduce the middlemen to give the cost advantage to the consumer.

Distribution

Our initial distribution would be through partners. This could be various companies or people who are already into delivering one thing or the other(like private mail companies). However, most convenient and cost effective method would be to do it directly by us. Firms that handle logistics would be very useful partners in this as well.

Costs

The cost would have to bear is that of building a reliable website that would be easy to use and intuitive. This would require building a good team of designers. The team would build websites and applications. Transportation would be a regular cost which can only become more cost effective with biggers sales. We would like to reduce costs by eliminating the middleman as far as possible. This would reduce the distribution of margins making the end product cheaper while increasing our and our partners’ profit margins on any product.

Revenue Model

The revenue would be through different modes of payment that we would like to offer our costumers. Options like prepaid, postpaid, and cash on delivery would be good options. We would like to encourage our customers to use the prepaid option by offering incentives like coupons or discounts. Prepaid would give us capital with which we can procure larger quantities of goods. This would give us the power to negotiate and get better deals on certain goods. The other payment modes would be convenient to the user and would contribute to overall experience of shopping with us.

Risks

The consumer not buying certain goods would be a risk if it is stocked up in inventory. We would have to carefully estimate what the consumer would like to buy and to advertise and promote slowly moving goods. The risk is bigger with perishables.

Quality- Bad experience in terms of quality of goods or the quality of delivery can ruin the over feel of the whole experience. Training suppliers and distributors would be a key to improving quality and regular monitoring of these to maintain the quality will take care of the risk

Funding

Initially, this venture will be self-funded with individual contributions from each of the founders and funding from Angel Investors’ will also be sought.

Based on the growth we achieve and our future plans, funding from venture capitalists will be sought.

What We Did?

Value Preposition of Online store Market Volume analysis Market sentiment(Investor Sentiment

about the idea) Customer Survey High fidelity prototype Present rivals and their analysis

Test And Survey

Customer Feedback SurveyWe asked more than 30 people what problems they face while doing grocery shopping and what according to them can make the whole system more efficient.

Website UsabilityWe made a website for the online store and asked

customers to use it and give us feedback about what parts are

to be improved Competitor Survey

We also visited all the local grocery stores and online grocery websites to understand how they work and where do they fall short.

.

Series1

0% 5% 10% 15% 20% 25% 30% 35% 40% 45%

Wont use online groceries

Other

More products offered

Faster Turnaround time

My house in the delivery radius

My grocery offering those services

Tengible incentives(freebies,discounts)

Better web design that would make it easier to buy

Lower Fee

What Changes will convince you to order groceries online

High Fidelity Prototype

http://www.freewebstore.org/EZGrocery

THANK YOU