THE PRODUCT : BUSINESS PROFILE- Data loss

What is Thrive?

All - in - one Restaurant ordering suite for ordering, pick-up and delivery with in-build marketing.

For Users - Not yet another food delivery platform, but is it?

Industry : Food Commerce, F&B, SaaS.

Employees : 11-50

Founded in : 2020

Funding : Series A, $250M - 18th April 2023 (3rd Round)

Investors : Jubiliant Foods (35%), Coco-Cola (15%)

Founders : Dhruv Dewan, Karan Chechani, Krishi Fagwani

Lifecycle : Early Stage / Scaling

Geography : India, Mumbai

AOV : 800-900 INR

What Is Thrive solving for?

Thrive focuses on supporting restaurant partners in achieving sustainable growth through fair trade practices. It provides a one-stop solution, offering software-as-a-service with features such as order management, POS, seamless third-party delivery integration, and built-in marketing tools for increased visibility and discovery.

Core Value Proposition?

We're giving you control of your business. Oh and we'll only charge a 3% commission. (B2B)
We're not just another food ordering app, 'thrive' with foodies like you. (B2C)

Product Insights

B2B :

1. Saas
2. CRM Solution for restaurants - customer data (base), raw material usage, unit economics
3. Loyal Customers Data - Engage, Offer, Retain
4. Low & Fair commission - 3% commission (Thrive) vs 25-30% commission (aggregators like Swiggy / Zomato)
5. 3P Delivery Integration
6. Built in tools for marketing

B2C

1. Not just another food ordering app, 'thrive' with foodies like you.
2. Community engagements, reccomendations, curation of best places to eat
3. Discounts like no other app - 'Thrive Promise' lowest price guaranteed
4. Pre Order, Real-Time order
5. Curate a list of favourite places to order
6. Restaurant loyalty program

THE USER :

B2B : All the Restaurant partners

B2C:

ICP Framework

ICP Prioritisation Framework

Prioritisation Reasoning:

Based on the framework prioritising considering very high value, low CAC and high ease of adoption; choosing the below

• ICP-1: Working Professional
• • Great use-case. Proven results with respect to competitor app usage (Swiggy & Zomato) Biggest part of TAM. Appetite to pay. Hence, CAC also won’t be too high.
  • Very High word of mouth referral

• ICP-2 College Student
• • • Assumption: Since this is an acquisition project, assuming that the monetisation for this use-case is already established & so is the offered pricing; hence not considering discount in CAC.
    • 85% Student discount → appetite to pay.
    • Habit forming phase → may lead to potentially higher LTV when ICP graduates & continues using.
    • Very High word of mouth referral
• ICP - 4 : Executive - Should be a work in progress and could be considered as an exception since the AOV is higher and once they get hooked, the referral in the circle can create a channel like no other.

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THE MARKET

Total Addressable Market (TAM):
The TAM for food delivery in India = potential market if all smartphone users who order food exclusively through our product (Assumption - no competition + order daily)

TAM = Smartphone users in India × Avg. order value × 365 = 700 × INR 100 × 365 ≈ INR  25  Trillion

Serviceable Available Market (SAM):
The SAM is limited by factors such as geography, income groups, and order frequency. Assuming delivery only in major metros to the urban population:

SAM = Urban population (metros) × Avg. order value × 12 =78million × INR 100 × 12 ≈ INR 93.5 Billion

Serviceable Obtainable Market (SOM):
Considering fierce competition and aiming for a 5% market share as a late entrant but with added benefits of low commision and fair trade :

SOM = 5% × SAM = 5% × INR 93.5 Billion ≈ INR 4.6 Billion (4,600 CR in INR)

CHANNEL SELECTION AND EXPERIMENT :

Thrive : PMF stage!

Focussing on designing experiments which are cost-effective, accessible to users, feedback-driven, resulting in faster user acquisition.

Campaigns to drive acquisition basis experiments :

Campaign 1: Referral Program (for Restaurants partners)

Objective: Drive new restaurant sign-ups on Thrive through a referral program.

1. Campaign Name: Thrive Together
2. Duration: 4 Weeks
3. Key Components:
4. • Referral Incentive: Offer participating restaurants a 15% discount (for a month) on transaction fees for every referred restaurant that signs up and completes their first order.
     Free Onboarding
     Gateway Payment Fee waived off for First Month
   • Promotional Materials: Create visually appealing promotional materials (social media posts, email templates) for participating restaurants to share with their network.
5. Implementation Steps:
6. • Week 1-2: Reach out to existing restaurant partners, introduce the referral program, and provide them with promotional materials.
   • Week 2-3: Launch the campaign on social media, emphasizing the benefits for both existing and referred restaurants.
   • Week 3-4: Monitor referral sign-ups and track the effectiveness of the program.
   • Throughout: Gather feedback from participating restaurants on their experience and suggestions for improvement.
7. Metrics for Success:
8. • Number of new restaurant sign-ups through referrals.
   • Percentage increase in referral-driven orders.
   • Feedback from participating restaurants on program effectiveness.
9. Cost Estimates:
10. • Minimal costs for designing promotional materials.
    • Transaction fee discounts as the primary incentive.

Campaign 2: Pop-Up Event Collaboration (Users FOR the APP)

Objective: Increase Thrive's brand visibility and acquire new users through on-the-ground interactions at local events.

1. Campaign Name: Thrive Pop-Up Delights
2. Duration: 2 Pop-Up Events over 2 Months
3. Key Components:
4. • Exclusive Event Deals: Offer attendees special discounts or promotions for signing up on Thrive during the event.
   • Engagement Activities: Create interactive elements at the Thrive booth, such as a sustainable dining quiz or a photo booth. Do it with select Partner Restaurants to create more impact and synergy of "thriving together"
   • Pre-Event Promotion: Utilize social media (Instagram, Facebook etc) and local event listings to promote Thrive's presence at the upcoming event.
5. Implementation Steps:
6. • Pre-Event: Identify suitable local events (Lil Flea, Farmer's Market, India Cocktail Week), secure booth spaces, and design exclusive event deals.
   • During Event: Set up an engaging Thrive booth with promotional materials, interactive activities, and sign-up opportunities.
   • Post-Event: Follow up with event attendees through email or app notifications, thanking them for participation and offering post-event promotions.
7. Metrics for Success:
8. • Number of sign-ups during each event.
   • Social media engagement related to the event.
   • Feedback from attendees on Thrive's presence and offerings.
9. Cost Estimates:
10. • Booth setup costs (rent, materials) for each event.
    • Exclusive event deals as incentives.

Campaign 3: Exclusive Early Access

Objective: Create a sense of exclusivity and encourage early sign-ups.

1. Campaign Name: "ThriveFirst Access"
2. Duration: 2 Weeks
3. Key Components:
4. • Waiting List Promotion: Encourage users to join the waiting list for exclusive early access.
   • Limited-Time Offering: Offer the first 500 users exclusive promotions or discounts.
   • Early Access Communication: Personalized emails and app notifications to notify users of their exclusive status.
5. Implementation Steps:
6. • Pre-Launch: Promote the waiting list on Thrive's website, app, and social media.
   • Launch: Notify early access users of their exclusive benefits and offer promotions.
   • Post-Launch: Gather feedback from early access users on their experience.
7. Metrics for Success:
8. • Number of users joining the waiting list.
   • Percentage of users converting from waiting list to early access.
   • User feedback on the perceived exclusivity and benefits.
9. Cost Estimates:
10. • Minimal costs for designing waiting list promotions.
    • Promotional discounts as incentives.

Campaign 4: Localized SEO Optimization

Objective: To enhance Thrive's local search visibility to attract users actively seeking food options.

1. Campaign Name: ThriveLocal Search Boost
2. Duration: Ongoing for at least the first year - tweak basis feedback for sub-products
3. Key Components:
4. • Keyword Optimization: Optimize website and app content for local search keywords.
   • Location-Specific Landing Pages: Create landing pages tailored to specific regions.
   • Review Encouragement: Prompt users to leave reviews mentioning local sustainability efforts.
5. Implementation Steps:
6. • Keyword Research: Identify local search terms related to sustainable dining.
   • Website Optimization: Update content and meta tags with localized keywords.
   • Review Campaign: Encourage users to leave reviews highlighting Thrive's commitment to sustainability.
7. Metrics for Success:
8. • Improvement in search rankings for local keywords. (food delivery, local restaurants, discount)
   • Increase in website traffic from local searches.
   • User feedback on the relevance of localized content.
9. Cost Estimates:
10. • Potential costs for SEO services or tools.
    • Minimal costs for encouraging reviews.

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