Home Chef

Transcript

1. www.homechef.pk Your favourite foods on-demand from Karachi’s best home-chefs.
2. www.homechef.pk THE PROBLEM While Amina is a foodie who enjoys cooking, it is increasingly becoming a chore that means time taken away from family and other more pleasurable pursuits. In addition, she has to keep innovating her food prep so that her family doesn’t get bored, and that is getting harder and harder. For the Housewife For the HomeChef There is no platform dedicated to HomeChefs like Sukaina, one that understands their needs and helps them to understand the needs of their customers. There is no support system for Sukaina that could help her grow her business in a consistent and sustained way.
3. www.homechef.pk OUR ELEGANT SOLUTION HomeChef is a platform that solves both Amina’s and Sukaina’s problems! Through HomeChef, Amina can order different home-cooked meals that she is confident are hygienic and wholesome, and her family will recognize her excellence as a provider of delicious meals! Through HomeChef, Sukaina will have a steady income stream with access to marketing and operational support to build her brand that she could never activate herself.
4. www.homechef.pk MARKET POTENTIAL 220M 55M 6.6M 200k Pakistan’s Population Top 6 Cities Population Our target market based on SEC & access to smart phones Active users India had 105 players in the space over the last few years, with 58 still operational. In comparison, Pakistan has only 4 players that have more than US$500k in funding and are beyond a seed stage: (visualise in two bubbles - India & pak)
5. www.homechef.pk Business Validation Meals delivered Active HomeChefs on the platform Average Purchase Value (APV) 100k+ Total customers 1700+ PKR 951 18k+ a. Key assumptions validated, business de-risked and poised to SCALE. b. 4.3/5 Star Average customer rating on HomeChef orders (put visual) c. High Customer Retention rate (currently 32% with a 50% retention rate target)
6. www.homechef.pk Features Wide choice of dishes and Chefs FEATURES & FUNCTIONS Transparent & convenient ordering process Smooth UX for both Foodies & HomeChefs For the Foodie Access to hygienic & wholesome food on-demand Ability to build your own meal plan Visibility of ingredients & HomeChef For the HomeChef Reliable & consistent income stream Professional operational & marketing support Direct access to the end-user through the platform Functionality
7. www.homechef.pk For the Foodie BENEFITS For the HomeChef Reassurance – that the food she is ordering is “home-cooked” and hygienic. Trust – that HC will help her to grow her brand and her business, in a simple and collaborative way. Confidence – that the HC platform gives her a predictable source of revenue where she can focus on her product offerings, and not on operational challenges. Confidence – that she is in control of the different moving pieces of her life, and her “home responsibilities” are not being compromised on as she pursues her career and other avenues of self-development and growth.
8. www.homechef.pk THE COMPETITIVE LANDSCAPE HomeChef Foodpanda Cheetay Nabeinn Plate 101 National Pre Series A Post-Series A Food Variety Meal Plans 1000+ Chefs HomeChef Focused
9. www.homechef.pk THE HOMECHEF JOURNEY 2014 2018 2015 2016 2017 2019 2020 Nov Idea Feb Mar Initial investment toward research/testing idea Research started, chef Interviews, analog orders, 2 team members recruited Feb Sep Jan Seed Investment 1.0 HomeChef Test Site launched, sales started. App building started HomeChef MVP Launched HomeChef Office Rented Key Team Hiring - Abbas Akhtar (Co-Founder) Joined Seed Investment 1.1 Logistics App MPV launched (Prongo) HomeChef App Version 2 Feb Mar Mar Aug Oct HomeChef Chef Hub Version 1 Launched (Chef Meetup) Seed Investment 1.2 Logistics App - Rider App Launched HomeChef App Version 3 Logistics App Version 2 May May Aug Oct Dec HomeChef App Version 4 Seed Investment 1.3 Logistics App Version 3 Jul Oct Nov Jan 100k Deliveries
10. www.homechef.pk THE HOMECHEF BUSINESS MODEL TRANSACTION FEES Commision on every order 15-20% Listing fee/ Chef PKR 1k-5k Delivery fee 15-20% Marketing fee of promoting Chefs PKR 1k-5k =200K customers x $5.6x 52 $58.2M 1,600 x $130 = $208K a. Input ingredient supply - sell key ingredients (chicken, meat, vegetables, rice) to Chefs. As we will be buying in bulk, we would make approximately 20% on sale to Chefs. b. HomeChef TV Advertising Opportunity (youtube channel): Content and Chef pipeline are available. Advertising and branding opportunities with food suppliers (National food, Shaan, Rice brands, Soya Supreme, etc.) Foodie Revenue Target $208k HomeChef Revenue Target
11. www.homechef.pk WHAT MAKES HOMECHEF UNIQUE A non-discount driven business model with strong unit economics Robust analytics through an AI-enabled technology platform Subscription-based meal planning World-class chef on-boarding process PronGo, the logistics & delivery arm of HC
12. www.homechef.pk A STRONG FOUNDING TEAM Both Founders are experienced veterans in the entrepreneurial and tech space. Both founders have significant skin in the game, with a true ownership mentality! Uzair Abbas Uzair has 25 years of experience building and running business in UAE/PAK/US Abbas has deep expertise in building tech products (ex-Google/Apple team member) Of the US$600k invested so far, 70% of the investment has come from the founding team itself. Furthermore, one founder has not drawn any salary from the venture whilst the other founder has only drawn 50% of an already discounted salary.
13. www.homechef.pk INVESTMENT ROADMAP USE OF FUNDS Marketing / Growth 750 75.0% Team Building /Talent Acquisition 100 10.0% Infrastructure 150 15.0% TOTAL $1000K 100.0% 500K deliveries / month by Dec 2021 with Lahore and Islamabad launched Target of 100,000 foodies in 3 years. $600K raised in earlier rounds (Angel / Seed) Series ‘A’ Investment Round closed by March 2022 Utilisation of US$ 1M - Pre-Series A Funds ($200K already committed)
14. www.homechef.pk 8 COMPELLING REASONS to join us on our journey to become the leading HomeChef platform in Pakistan! Online food ordering habits are here to stay! HC has built a deep understanding of the space, with a non-discount-based model with strong unit economics! 1600 chefs, 15,000+ customers, 100k meals delivered in jan 2020 HC collects & mines valuable data with visualization that drives scaling! HC is poised for growth - 70% of new investment will be used for marketing! Stellar founding team with significant skin in the game! Prongo, the logistics & delivery arm of hc, with proprietary technology will be a key success factor! Huge and growing market size - us$150 billion globally. pakistan is a massive market - and still an open playing field! US$75 m revenue opportunity from pakistan in 3 years from food ordering alone + other revenue lines!
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