Startup Business Plan

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Sr No

City

% of Diabetics

1

Kolkata

11.7

2

Kashmir Valley

6.1

3

New Delhi

11.6

4

Mumbai

9.3

5

Chennai

13.5

6

Hyderabad

16.6

7

Bangalore

12.4

(http://www.ncbi.nlm.nih.gov/pmc/articles/PMC3920109/)

Considering that Mumbai has close to 10% of the diabetic population we are looking at potential market of about 6 million for our startup . Assuming that the middle class population is 19% (same as national average) then our target segment of diabetics works out to 1 million customers . Thus we are looking at a sizable and growing market for our start-up venture.

(iv) Technological Environment

India a leading destination for IT /ITES and outsourcing services, There is a large pool of trained persons , especially in IT and computer related services . Besides this there are numerous companies providing Cloud Based , pay as you use services which will reduce the capital expenditure for a startup venture like ours.

Besides this the present government has initiated a program for “Make in India” which is trying to attract global companies to use India as a manufacturing hub. This will give an indirect boost to services sector and all of these people will certainly be willing to avail the services of our startup venture iEatRight .

Most of the middle class population is tech savy and will be comfortable with subscribing and using our mobile & web based ordering , payment and lifestyle management system . This will free up their already scarce leisure time from planning and preparing meals to other productive and pleasurable activities in life.

Environmental

The city of Mumbai has strict environmental and zoning regulations . There are areas earmarked for Industries and offices, residential areas and mixed use townships. The government plans to set up separate food parks along hub and spoke fashion (http://timesofindia.indiatimes.com/city/mumbai/Mega-Food-Park-scheme-will-benefit-farmers-and-consumers-alike-says-government/articleshow/18266642.cms)

As we will be operating specially designated food park with common services for environmental management , it will be easier for us to comply with all environmental and pollution related laws.

Also our start-up will be operating in one of the priority sectors earmarked by the government and will also have easy access to raw materials and logistics for preparing and delivering meals .

Mission Statement

The mission statement of iEatRight will be as follows

The mission of iEatRight is to ensure wellness and health by providing customised meals delivered at the doorstep of our customers which are suited to dietary requirement of diabetics and customers requiring to manage their weight . We will also provide integrated health management services in times to come.

We plan to contribute to society by providing support and advice and spare kitchen to NGOs working for providing meals to poor and destitute children.

Our motto is no one should remains hungry (voluntarily or involuntarily) .

Vision

Our vision is to be the provider of choice for persons with special dietary needs in the Mumbai metropolitan area

Objectives

Short Term (First year of Operation)

- To incorporate iEatRight as a private limited company with Registered office in Mumbai

- To raise required long term and working capital funds for the venture

- To setup state of art kitchen capable of producing 500 meals per dayin a food park in Mumbai Metropolitan Area.

- To setup order management and payment infrastructure by using cloud computing platforms. This will be outsourced to one of the cloud services providers

- To partner with “Mumbai Dabawala” for logistics & delivery of meals to clients (http://mumbaidabbawala.in/partner-with-us/)

- To recruit and put in place inhouse team of nutritionists, dietitians and culinary experts to plan meals , track details of nutrition per meal etc and be ready for operation in next six months.

Long Term

Company Profile

The start-up is proposed to be started up by me as a Private Limited Company registered in Mumbai , Maharashtra. While the start-up can commence business either as a partnership or sole proprietorship , considering that long term objectives it is proposed to be registered as a private limited company.The minimum paid up capital at the time of incorporation of a private limited company is Rs 1,00,000/- and there is no upper limit on having the authorized capital and the paid up capital. This can be enhanced at any time by making payment for additional stamp duty and registration fee.()

The steps to be followed for commencement as a company are as follows

(http://trak.in/tags/business/2009/07/01/starting-business-in-india-simplified-process)

- Obtaining of Digital Signature :- At least one of the proposed directors of the company must have a digital signature . Hence the first step will be for the directors to apply for a digital signature. There are at present six vendors authorised to issue Class-II digital