Acquisition project | Recipe Cup
Elevator Pitch
Are you yearning for unique culinary experiences that evoke the warmth of your childhood or the flavors of your home culture? Do you long for the comfort of home-cooked meals delivered right to your doorstep? Or perhaps you find it challenging to source those signature ingredients for creating restaurant-quality dishes at home? If you answered YES, you’re certainly not alone!
Allow me to introduce Recipe Cup—a groundbreaking app designed to connect you with talented home chefs, cloud kitchens, and restaurants, delivering exquisite homemade delights directly to you. With Recipe Cup, you can explore a vibrant array of recipes, order freshly prepared dishes, and delve into detailed chef profiles and user reviews. The platform offers personalized culinary recommendations, ensuring a rich and authentic dining experience that not only satisfies your cravings but also empowers budding chefs.
Understand your Product
About
Recipe Cup is a startup that provides a D2C marketplace for food sellers and buyers to be connected in a variety of ways. Recipe Cup platform will enable home chefs, cloud kitchens and restaurants to generate alternative revenue streams that aims to monetize their existing dishes using state-of-the-art delivery, while enabling them to sell their on-demand meal kits, signature ingredients, recipes & virtual private chef services. Recipe Cup will establish a new customization method for customers that will allow them to have their meal kits and food orders custom designed & tailored according to their health and wellness needs.
Mission
Recipe Cup aims to empower home chefs by providing them with the support needed to establish their own brands by connecting food enthusiasts with talented home cooks, facilitating the discovery and enjoyment of homemade culinary delights and unique ingredients. Their vision is to become the premier platform for homemade food delivery, cultivating a vibrant community of food lovers and enabling home chefs to showcase their culinary passions on a global scale.
Product selection framework
Criteria | Description |
|---|---|
Internet First Product | No |
Direct & Indirect Competitors | goHomely, Zomatoeveryday, Homefoodi, Cookpad, Chefkart |
PMF Reached | Yes |
Brag Worthiness | Recipe Cup stands out as a truly remarkable platform, equally benefiting both sellers (by helping home chefs scale)and customers(by offering them a healthy signature home cooked meal) making Recipe Cup a brag-worthy choice. |
Activity statistics | Recipe Cup has successfully sourced over 26,000 food curators, home chefs, cloud kitchens and restaurants that are actively being onboarded for launch. 500+ Downloads and 4+Ratings across App store and Google Play store |
Awareness | Medium-Low |
Understanding Core Value Proposition
What does your product do?
- Meal Scheduling/Preorder: Plan your dining in advance for a seamless and convenient experience, allowing you to enjoy home-cooked goodness at your preferred times.
- On-Demand Orders: Satisfy your cravings instantly with quick and fresh homemade meals available for order at any time.
- Ingredients Ordering: Access a dedicated section within the app to easily order signature ingredients, empowering you to recreate your favorite dishes at home.
- Outsourced Delivery Network: Rely on our efficient and reliable delivery service, expertly managed by trusted partners, to ensure your meals arrive promptly and in perfect condition.
What problem does the product solve?
The online food delivery industry is experiencing unprecedented growth, projected to reach $164 billion by 2024. Consumers are increasingly turning to food delivery apps for convenient access to their favorite meals, particularly those who crave the comfort of home-cooked food or seek healthy yet delicious options.
For food enthusiasts living away from home, Recipe cup offers a solution that bridges the gap between convenience and quality. Ultimately, our goal is to enhance the dining experience for customers, allowing them to enjoy satisfying meals without compromising on taste, time, or budget. Recipe Cup will establish a new customization method for customers that will allow them to have their meal kits and food orders custom designed & tailored according to their health and wellness needs.
Recipe cup will also enable home chefs, cloud kitchens and restaurants to generate alternative revenue streams that aims to monetize their existing dishes using state-of-the-art delivery, while enabling them to sell their on-demand meal kits, signature ingredients, recipes & virtual private chef services.
Understanding the Users
We carried out primary research involving over 30+ users from various segments and demographics. This research helped us identify the real pain points and core needs of users.
Some of the Key Results identified:
Full Survey Link:https://docs.google.com/forms/d/1JD1Ga-Sg350sgc3v21bBOdyCDs2cwHawjnqHkvJ1Kqo/edit#responses
Understanding your ICP
ICP Research
Based on discussions made in the office and with friends, we jot down the demographics, interests, and problems faced by our ICPs
Criteria | ICP 1(Young Professionals) | ICP 2 (Students) | ICP 3 (Middle aged Working Professionals) | ICP 4 (Retired couples) |
|---|---|---|---|---|
Name | Abhay Kumar | Swetha Singh | Gautham Shah | Radha Menon |
Age | 28 | 17 | 40 | 60 |
Gender | Male | Female | Male | Female |
Marital Status | Unmarried | Unmarried | Married | Married |
Employment Status | Employed | Unemployed | Employed | Retired |
Income | 10L-20L per annum | 0-2L per annum | 35L-45L per annum | 5L-15L per annum |
Profession | Software Engineer | Student, Intern | Sales Manager | Retired Teacher |
Location | Mumbai | Chennai | Bengaluru | Kochi |
Moved to a new city | Yes | Yes | No | No |
Living condition | In individual rented apartment | Shared Room/PG | Own Independent House | Own Ancestral house |
Diet Preference | Veg & Non Veg | Veg & Non Veg | Veg & Non Veg | Veg |
Important Meal of the Day | Dinner | Lunch | Dinner | Breakfast |
Diet Arrangement | Eat Outside & Office meal | Eat Outside & Mess meals | Self cooking, Home-cooked meal by family | Self Cooking |
Average amount spent per meal | 100-200 | 0-100 | >200 | 100-200 |
Frequency of ordering food online | 2-3 time a week | Weekends | Weekends | Monthly |
Meal Preference | Indian & Fast food | Indian, Fast food &Other cuisines | Healthy options, Depends on occasion. | Healthy options |
Top priority while ordering meals | Taste, Price & Delivery time | Ease of Ordering (App/Website Usability),Taste ,Price | Quality of Food, Taste, Hygiene and Safety, Availability of Dietary Preferences (e.g., vegan, gluten-free) | Quality of Food, Taste, Hygiene and Safety,Ease of Ordering (App/Website Usability) |
Preferred Subscription Plan if required for a meal | Weekly (Excluding Weekend) | Daily | Weekends | Daily |
Needs/Goals | Convenient Meal Solutions, Authentic and Flavorful Meal, Affordability & Taste, Time-Saving | Affordability, Fresh and Hot Meals, Variety & Taste | Convenient Grocery Solutions Convenient Meal Options Nutritious Options Quality Family Time | Convenient Grocery Solutions Convenient Meal Options Nutritious Options |
Pain Point | Limited time for cooking or grocery shopping. Finds it challenging to prepare diverse, flavorful meals | Lack of cooking skills. Frustrated and Bored with repetitive, and bland food from mess. | Limited time for grocery shopping No time to prepare lunch for kids in the mornings as both Gautham and wife are working . Struggle to find healthy meal options for their family Need for quick and nutritious breakfast and lunch solutions Desire to spend quality time with their kids without the hassle of meal preparation | Difficulty in cooking daily due to age-related issues Challenge in finding nutritious, home-cooked meals. Need for easily digestible and diet-specific meals Preference for freshly cooked meals over packaged or frozen options. |
Frequently used apps | Social - Whatsapp, Instagram, Twitter Shopping - Amazon, Flipkart, Myntra Food & Grocery - Swiggy, Zomato, Zepto, Blinkit Payment - Google Pay, PhonePay Business Apps - Slack Networking - Linkedin Music - Jio Saavn, Spotify, Reading & Answering- Inshorts Reddit, Quora, etc. | Social - Whatsapp, Snapchat, Instagram, Discord Shopping - Myntra, Amazon, Flipkart, Nyka, Ajio Food & Grocery - Swiggy, Zomato, Amazon Fresh Payment - Google Pay, Music - Jio Saavn, Sound cloud Spotify, etc. Reading & Answering- Inshorts & Reddit etc. | Social - Whatsapp, Instagram, Facebook, Twitter Shopping - Amazon, Flipkart, , Food & Grocery- Swiggy, Zomato ,Bigbasket Payment - Google Pay, Phonepay, CRED Business Apps - Slack, Networking - Linkedin, Music - Youtube Music, Spotify, Reading & Answering- Reddit, Quora, etc. | Social - Whatsapp, Facebook, Shopping-Amazon, Flipkart Food & Grocery-Bigbasket Payment-Google Pay |
Content Preference | Connect with influencers in travel, fashion, comedy, and lifestyle. Stay updated on job-related information from LinkedIn and Twitter. | Watch the latest TV shows, movies, etc. Follow beauty, lifestyle and social influencers. | Follow thought leaders and Politicians across business, news, and media. Write industry-related content on LinkedIn and Twitter | Follow thought leaders and Politicians across news, and media. |
Hobbies | Playing computer games, watching content online, going gym, traveling, and hanging out with friends. | Dancing, watching content online, and socializing with friends. | Spending Time with kids and family, Socializing with friends. | Going for a walk, Work in the farmland. |
Spending habits | Shopping, dining, drinking, smoking, learning new skills, and transportation. | Shopping, eating / drinking out. | Shopping, eating, drinking, smoking, upskilling, Going gym | Shopping, Eating, Health memberships. |
ICP Prioritization
Criteria | ICP 1 | ICP 2 | ICP 3 | ICP 4 |
|---|---|---|---|---|
User Persona | Young Working Professionals moved out of home for work. | Students and Interns staying away from Family. | Middle aged working couples with kids having a busy schedule. | Retired couples finding difficulty in cooking and looking for nutritious healthy food. |
Adoption Curve | High, They are actively looking out for a solution. They are aware of the currently available solutions in the market and are willing to try a product if it shows results. | High, They are not actively looking out for a New Bragworthy App. They are more aware of the currently available solutions in the market. Will not need education and a strong push to try products. | Medium, They are actively looking for a solution mostly looking for offline options like hiring a cook. They are not aware of the latest available solutions in the market. They are willing to try a product if results are guaranteed. | LOW-They are not actively looking out for an online solution. They are not aware of the currently available solutions in the market. Will need education on the product to make them try it. |
Appetite to Pay | High -They have a stable /proper income and also shows high willingness if the outcome is promising. | Low - They do not have a fixed or stable income even though they are willing to pay | High - They have a highly stable and good appetite to pay but are only willing to pay if there are promising results. | Medium- They have a considerable income but willing to pay only if proper awareness and results are guaranteed. |
Frequency of Use Case | High | Medium | Medium | Low |
Distribution Potential | High | High | Medium | Low |
TAM | High | High | Medium | Medium |
Primary & Secondary ICP Decision Criteria
The prioritization based on the following:
- Ease of Adoption
- Target early adopters.
- High-Frequency Usage
- Focus on users with high usage frequency.
- Appetite to Pay
- Ensure willingness and ability to pay.
- Sizable TAM
- Target a large and growing Total Addressable Market.
- Distribution Potential
- Favor ease of distribution.
Selected ICPs
The primary ICPs are ICP 1 and ICP 2, both expected to be early adopters who will likely experience significant improvements in their culinary habits. Their positive experiences are anticipated to generate word-of-mouth recommendations that will help drive product scaling. These ICPs demonstrate considerable usage frequency, with ICP 1 exhibiting a strong willingness to pay, suggesting a large and growing Total Addressable Market (TAM) along with high distribution potential. In contrast, the secondary ICPs, ICP 3 and ICP 4, remain valuable but have not been prioritized as primary ICPs.
Understand Market
Factors | Swiggy Daily | Zomato everyday | Cookr | Recipe Cup |
|---|---|---|---|---|
What is the core problem being solved by them? | Swiggy Daily primarily targets consumers seeking healthy, home-cooked meals at an affordable price point. | Zomato targets targets a new service offering of home-style meals made by home chefs | They are helping chefs share their passion for cooking and provide delicious, homemade meals to customers . | Recipe Cup empowers home chefs to build their brands by connecting them with food enthusiasts, fostering a community for homemade culinary delights. |
What are the products/features/services being offered? | Home meals Classification in BLD Building connection with home chefs and their story Search recommendations Delivery Network | Home meals Meal scheduling/preorder Classification in BLD Building connection with home chefs and their story Search recommendations Delivery Network Multilingual Support | Home meals Meal scheduling/preorder Meal Subscriptions Classification in BLD(In snacks too) Ingredients ordering Search recommendations Third party Delivery Network | Home meals Meal scheduling/preorder Meal Subscriptions Ingredients ordering Outsourced party Delivery Network |
Potential Competitive Strategies for Recipe Cup
- Innovation & Differentiation through Technology
- Delivery Efficiency
- Menu Varieties
- Customer Engagement and Trust
- Cultural and Global Fusion with Signature Ingredients
- Personalized Meal Recommendations
- Health and Wellness Focus (Diet-Specific Meal Plans, Nutrition Tracking)
- Subscription Services with Benefits
- Community Engagement with Home Chefs via Instagram and YouTube
- Leverage Technology for Food Origin and Quality Assurance
- Partnership with Local Chefs and Home Cooks
Now it’s time for some math, Lets calculate the size of market.
TAM and SAM Calculation
In this calculation We are primarily targeting Tier-1 and Tier-2 areas in India, focusing on tech-savvy consumers.
1.Estimate the Number of Potential Customers
Population of India: Approximately 1.4 billion.
Population: About 20% of the population lives in Tier-1 and Tier-2 areas, which is approximately 280 million.
Percentage of Tier-1 and Tier-2 Residents Ordering Food Delivery: Estimated at 10-20%.
We will be using 15% for this estimation:
Potential Customers = 280 million x 0.15 = 42 million potential customers.
2.Determine Average Order Value (AOV)
Average Order Value: Estimated at ₹200 .
3.Estimate Order Frequency
Order Frequency: Assume an average of 3 orders per month.
3 orders/month x 12 months = 36 orders/year.
4.Calculate the market size in Tier-1 and Tier-2 areas
Using the formula:
Market size in Tier-1 and Tier-2 areas= Number of Potential Customers * Average Order Value * order frequency
= 42 million potential customers x ₹200 average order value x 36 orders/year
= 42,000,000 x 200 x 36 = ₹302,400,000,000 (or approximately 302 Billion).
Acquisition Channels/Strategies
Channel Name | Cost | Flexibility | Effort | Impact | Lead Time | Scale |
|---|---|---|---|---|---|---|
Google Ads | High | Low | Medium | Medium | Low | High |
Referral Program | Medium | High | High | Medium | Medium | Medium |
Product Integration | Low | Medium | High | Medium | Medium | Medium |
Content Marketing | Low | Medium | Medium | V High | Medium | V High 1 |
SEO | High | High | High | High | High | Medium |
Facebook and Instagram ads | Medium | High | High | V High | Low | High 4 |
Influencer Marketing | High | Medium | Medium | V High | Medium | V High 2 |
App store Optimization | Low | High | Low | High | Low | High 3 |
Prioritizing Channels
Based on the above prioritization framework ,We are narrowing it down to 2 channels.
1.Collaborate with social media influencers in the food and health niche to leverage their audience.
- Rationale: Our target customers frequently engage with social media, making it an effective channel for outreach.
- Execution: Run targeted paid ads on platforms like Instagram, Facebook, focusing on addressing the unique needs of our audience.
2. Organic Growth
- Strategy: Enhance app visibility on the App Store and create engaging content across social media platforms.
- Rationale: By sharing educational and entertaining posts, articles, and videos, we can attract and retain users without significant costs.
- Execution: Focus on strategies for app store optimization and maintain regular content updates to build a loyal community.
This prioritization balances cost, effort, and lead time while aiming for high impact and scalability.
Organic Growth
How to engage and encourage users to share the content for organic growth ?
User Testimonials: Highlight success stories from users who have experienced positive changes in their health and lifestyle with Recipe Cup. For instance, share stories of busy professionals who found hassle-free meal planning or elderly couples who maintained a nutritious diet.
Chef’s Recipes: Feature advice and tips from home chefs on improving cooking skills and healthy recipe options. This can be done through blog posts, videos, or social media posts. For example, create a video demonstrating how to prepare a dish using signature ingredients and highlighting the nutritional benefits
Cuisine and Dish Suggestions: Share enticing suggestions for various cuisines and dishes to encourage users to explore new flavors and try Recipe Cup products.
Interactive Content: Develop engaging interactive content like challenges that encourage user participation. For instance, create a quiz to test users' culinary knowledge or a cooking challenge that promotes creativity in the kitchen and encouraging them to share in Social media in exchange of some Platform currency.
Limited-Time Offers: Promote exclusive discounts or limited-time offers on Recipe Cup subscriptions to incentivize sharing. For example, offer a 20% discount for new users or a free month for users who refer friends.
By producing and sharing this high-quality, relevant content, we can boost brand awareness, drive website traffic, and generate leads for Recipe Cup.
Search Intent (Pull) ->SEO
Criteria | Search Question | No of searches | Time for response | Potential No of conversions/Sign ups |
|---|---|---|---|---|
Use case | Home-cooked affordable meal options | 10K- 12K | High | 100-200 |
Home cooked food delivery app | 10k-12K | High | 100-200 | |
Brand Name | Recipe cup | 0-10 | - | - |
Use case Topic | Nutritious food | 13K | Low | 0-100 |
Affordable healthy food options | 8K-10K | Low | 0-100 | |
Competitor | Cookr | 1K-10K | Low | 0-50 |
Swiggy Daily | 100-1K | Low | 0-50 |
Buying Intent (Push) -> Content Loops
To enhance our app's visibility and drive user acquisition, we will leverage content loops through platforms like YouTube and Instagram. In this model, we act as content creators while these platforms serve as distributors. Our goal is to create engaging content that resonates with our audience, encouraging users to share it within their networks.
Additionally, we will extend our content strategy to platforms like Quora and Reddit, where users can answer questions and provide valuable insights related to our app. By enabling users to contribute content, we establish a distribution channel driven by user-generated content, further amplifying our reach and fostering community engagement.
Product Integration
We can examine user statistics based on interactions with the users by identifying Reddit and Quora as the apps that our users are most engaged with, according to the ICP. Focusing on Integrating with these app in the initiate stage can bring more user engagement.
Criteria | ICP-1(Young Professionals) | ICP-2(Student) | ICP-3(Middle aged working Professional) | ICP-4 |
|---|---|---|---|---|
Average Frequency of interaction | 1-2 times a day | 0-1 time a day | 2-3 times a week | Once in a while |
Importance of the interactions | They seek suggestion, second opinion, read content, follow groups rigorously through this channels for anything and everything. | They use this channels to read content ,to get a gist of how other people responds | They use this channel to read content related to business, real estates ,Daily news etc. | Due to limited awareness of the platform ,Less usage. |
Values of the interactions | High | High | Medium-High | Low |
Referral Program/Partner Program
Referral Decision Criteria
1.Identify the right users and and when to ask for referral. For instance. Once the user has attained the Aha moment, if the user provides a 4 or 5 rating then Share option will be enabled.
2.Make sure the user can track their referral Progress. Overcommunicate about the rewards and also set milestones which encourages the user to come back to the platform.For instance Brag about the rewards earned by another member using the platform.
3.Provide user with Platform currency that enables user to spend money in the same platform itself like membership allowances etc.
4.Here WhatsApp is being used as the the primary mode of referral.
Thankyou!
Deepika GX-21
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