GoRecipes

by Patrick, Alvin, Jia Liang, Vishal, Martin, Wesley, Kim, Igor
(Singapore (Philippines, Germany, Sweden, Ukraine)

Company Description

GoRecipes is a food delivery website with a major difference. Instead of delivering fully prepared meals, GoRecipes delivers recipes with premium gourmet ingredients all pre-packed to the recipe specifications. This not only gives busy people the chance to try their hand at cooking, but also gives them a healthier and more affordable alternative that comes from cooking one’s own meals. We cater to both the working professionals’ busy daily schedule and special occasions such as birthdays, anniversaries and Valentine’s Day.

Product Description
GoRecipes has two primary platforms for distribution: a website and a mobile application. People can easily access our products when at home, and on-the-go with our mobile application. These platforms positions GoRecipes competitively in an increasingly connected world.
The recipes offered are simple, quick and easy to cook. Once again, this caters to the busy working professional who would like to enjoy a home cooked meal but does not have the time to go out and buy ingredients. GoRecipes will add more advanced recipes in the future to continually drive growth and diversify in the market.

Competitive Advantage

Convenience and quality are the key differentiating factors that set GoRecipes apart from others. Not only are the ingredients premium grade, they are pre-packed to recipe specific amounts and this packaged delivered. This saves on the long lead time of shopping for the right ingredients before actually cooking.
GoRecipes also makes deliveries daily. In a market where many food delivery companies deliver the next day, it is among the fastest turnaround times in the market right now. Orders have to be made before a cut-off time, however, in order to receive it in the same day window.

Investsment Highlights

• Recipe delivery is an emerging market with plenty of growth potential. Market research indicates a growing demand for home cooked meals, while the primary constraint has been time or lack thereof.
• Sales growth is expected to be 213% after first year of operation, and 193% in the second year onwards as we consolidate our assets and step up marketing to gain greater outreach.
• Maintain a gross profit margin of 45% for first five years of operation.