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Open business models in the food industry
Morelas, Alexandros; Athens University of Economics and Business, Department of Business Administration; Athens University of Economics and Business, Department of Marketing and Communication; Ioannidis, Antonios
In this thesis there was an attempt to compose a real business plan in regard to how a concept can become a functional company. In order to complete this business plan many management and economical tools have been used from all over the courses of the ΜΒΑ program. The model company (called ―EasyFood‖) will be a company which will develop a mobile application and also a site with the purpose of gaining market share in the food service industry. A brief summary will follow: EasyFood will be the first "food oriented" mobile application in Greece. It will focus on providing the best food service as regards the search for the best restaurants in town. EasyFood will be created with the aim of maximizing profits in the Information and communications technology (ICT) industry. The developers are going to go all the way to ensure that they will develop a mobile app that could be easily downloaded from the three mobile app stores (Google Play, Apple App Store and Windows Store) and used by all devices. Development of the mobile application and the website will initially require approximately a 12,000€ capital investment. EasyFood will try to join a business incubator in order to gain access to support services and mentoring towards accelerating the company‘s growth. There will be three basic layers in the app. The first level will have the most popular cuisines currently in town. In the next level the user can review all the restaurants that are serving the chosen cuisine. The restaurants will be categorized according to the users‘ rating. On the last layer, the user can choose a restaurant and hopefully rate it in the end. In order to endorse users to rate two ideas are suggested: a) positive encouragement and b) negative restraint. Special attention should be given to the application layout. Finally, the application should have a minimal ―philosophy‖ providing plenty of breathing room around elements. Concerning the potential of the mobile application market, a PwC research indicates from year 2014 to year 2015 an almost 20% increase in global spending for the development of new and innovative mobile applications, reaching about 35 billion US dollars in year 2015. Also, EasyFood‘s competitors like Foursquare and Yelp present a huge increase in the number of registered users. Examples of direct competitors are Tripadvisor, Foursquare and Yelp while possible indirect competitors could be ask4food.gr and fagito.com. The company‘s primary targeted market will be firstly the low class, aged 15-35 mobile users, and secondly the middle class, aged 15-35 mobile application users. The company projects a 30% growth per year for the first market segment (low class, aged 15-35) and a 20% growth per year for the second market segment (medium class, aged 15-35). EasyFood will try to capitalize on the huge demand of food mobile applications, as Google trends present. Its competitive edge consists of the fact that it will be the first mobile application that will try to answer to the most common question users have, that is where they could find a good restaurant to eat. As regards the marketing strategy, EasyFood will try to sell its product via all major app stores like Apple store, Google play and Windows store. The application will be a Freemium application with advertising and the promotion will be made mainly via the Facebook platform. The company will also focus on the share mechanisms and especially on the maintenance of an active viral loop. This viral loop could be sustained by introducing a point system that will encourage, in many different ways, the users to share and promote the application. Finally, special attention should be paid to the customer service, allowing users to easily contact the admins and provide feedback and support. EasyFood will use advertising as the main source of revenue. There will be 7 possible revenue streams. The first 4 will be the core revenue model and the last 3 will be supplementary. The potential core revenue streams could be: a) Place-Based Ads (PBAs), b) Promoted Places (PPs), c) Display Advertising, d) In app-purchases and the supplementary could be: a) Discount coupons, b) Merchant Claims & Data Deals and c) Events. The highest growth rate is estimated to come from the Display Advertising and the Promoted Places (PPs) revenue streams. All supplementary revenue streams are estimated to provide money after the fourth year of business operation. Finally, regarding the financial plan estimations, EasyFood will need at least 2 years of operation in order to present profits. It will be essential for the company to expand to new markets like Spain or Italy, after year 3, in order to increase its profitability and gain new users. For this reason the company will invest heavily after year 3, to advertising and promotion. EasyFood will be an innovative mobile application. It will try to take advantage of today‘s market gap as regards the food mobile applications. Taking into consideration that an increasing number of mobile users are looking for advice when it comes to choose a restaurant to eat at, the company could offer a competitive solution to this market need. The investment requires a small amount of startup capital while at the same time presents the ability to generate a great amount of revenue after the second year of operation. Therefore undoubtedly will be a great choice for someone to invest in the development and marketing of this mobile application.
Technology start-up business plan in tourism sector
Katrakis, Emmanouil; Kokolakis, Emmanouil; Athens University of Economics and Business, Department of Business Administration; Athens University of Economics and Business, Department of Marketing and Communication; Ioannidis, Antonios
a. Purpose of this business plan The digital revolution relentlessly promotes the transformation of Retail Enterprises. At the same time, the forerunners of active changes follow the consumer behavior that is in accordance with the digital consumer process which is already being felt in Electronic Commerce. In reshaping the Value Chain of business trade models lie the opportunities and prospects of future E-Commerce.The scope of the present Master’s Thesis is to create -in today’s turbulent business environment, rapid technological, informational and societal progress- a Start-Up and to depict a Techno-Economic preliminary study of such a business proposal. Underneath authors desire to study the field of Entrepreneurship lies a strong willingness and motivation to create a new venture. Therefore, in the first part of this Thesis is developed a method of analyzing important elements of launching a new business in a boosting industry such as the Tourism Sector. In the second part, authors’ idea is presented in detail, while examining if it could be transformed in a profitable business and play a key role in the Online Tourism Sector.b. Main highlights The empirical part of this Thesis focused on how to turn a project idea into a Business Plan. The research part included the examination of activity in the area of Travelers mainly based in Athens and Chania districts, but also in some selected European countries. Interviews were conducted to investigate the existing successful business strategies within this industry while this study also introduced some personal ideas of innovation. As a result, the study helped taking a thorough, careful and comprehensive look at the most important facets of hyper-personalized traveling experience and helped evaluate a new venture called ksenobatis. Moreover, the practical appliance of what is mentioned in chapters 4-7 is attempted via the presentation of a realistic–analytical Business Plan for this Start-Up. The background behind this selection was inspired by the rapid growth of personalized Travel Packages and a broad interest in traveling abroad by the two Co-Founders of ksenobatis, Manolis Katrakis and Manolis Kokolakis.The time window of the study is the period 2015-2016. Due to the fact that technical analyses for the economic impact of a new Start-Up business inside Tourism industry in Greece have not been conducted yet, the study uses estimates from international studies and bibliography. The adaptation scenario, assumes that adequate measures are being taken for financing ksenobatis. In conclusion in order to sustain a Start-Up, the optimal solution lies in effectively combining adaptation measures and financing strategies.c. Financial requirements The requirements of ksenobatis’ technical and physical infrastructure are quite basic. At the beginning, all that is needed is a website (www.ksenobatis.com) where users can easily and quickly make their preferences for Hyper-Personalized Travel Plans via interactive questionnaires that will collect the information described above. In addition, costs will arise in the making of the relevant mobile applications for iOS and Android platforms and of course for promotional activities, especially in the first steps of the operation. d. Statement of Purpose www.ksenobatis.com,a Start-Up business to be established during 2017, is a tool companythat offers hyper-personalized vacation packages inside the Tourism industry and is located in Athens, Greece.The company is seeking for its first investment in the amount of €49,000for the purpose of establishing its website and also to accomplish its first steps along the bureaucratic procedures for One Stop Shop that are valid in Greek environment.Funding is needed in time for the website and in place by January 9th 2017.Repayment of the loan and interest can begin promptly within 90 days of receipt and can be further secured by real estate, which is owned by the company and which has an assessed valuation of €50,000.ksenobatis’ goal is to grow steadily, becoming profitable by the second year of operations.

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