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Vivek Gadgil - Packats
Quick delivery from local store to customers by bicycle.
USA, New Jersey
Market: Public catering, Food industry, Services, Artificial Intelligence, Mobile applications
Stage of the project: Idea or something is already done
Date of last change: 11.12.2019
USA, New Jersey
Market: Public catering, Food industry, Services, Artificial Intelligence, Mobile applications
Stage of the project: Idea or something is already done
Date of last change: 11.12.2019
Idea
Online delivery service which delivers product from local store to customers enabled by bicycle.
Current Status
I have validated my idea by asking the local stores in journal square about there opinion and will they be willing to join our service. I am now looking for funding to build my MVP. So I can start and scale my services.
Market
Market segments-
Private company workers
Government workers
Age-
34-65 years old.
Job-
White-Collar Jobs.
Market Size-
$632 billion overall grocery market in 2018.
10% of US consumers shop online for groceries.
Online grocery market double from 2016 to 2018
Expected to grow $117 billion by 2023.
Private company workers
Government workers
Age-
34-65 years old.
Job-
White-Collar Jobs.
Market Size-
$632 billion overall grocery market in 2018.
10% of US consumers shop online for groceries.
Online grocery market double from 2016 to 2018
Expected to grow $117 billion by 2023.
Problem or Opportunity
Problems-
1. Small local stores don't deliver.
2. We have to stand in line before checkout.
3. We end up buying more things than we had on our list.
Opportunity-
1. There is no delivery service available which delivers products from local stores to customers.
2. Our competitors are focused on big stores but we are focused on small local stores.
1. Small local stores don't deliver.
2. We have to stand in line before checkout.
3. We end up buying more things than we had on our list.
Opportunity-
1. There is no delivery service available which delivers products from local stores to customers.
2. Our competitors are focused on big stores but we are focused on small local stores.
Solution (product or service)
The Packats solution-
An app which delivers products from local stores to customers enabled by bicycle.
1. Select the local store.
2. Order the products.
3. Get delivered.
An app which delivers products from local stores to customers enabled by bicycle.
1. Select the local store.
2. Order the products.
3. Get delivered.
Competitors
Competitors-
Instacart.
Shipt.
Postmates.
Instacart.
Shipt.
Postmates.
Advantages or differentiators
How we differ from our competitors?
Our competitors are focused on the big stores, but we here in packats are focused on the small local stores. So that is how we differ from our competitors.
How our startup can compete and win against our competitors?
The advantage we have here is that the small local stores are experienced in their area, and they know what the customer needs and according to that they have in-demand products, also the small local stores are near customers so we can deliver the products faster than our competitors and we are using bicycles to deliver products so the products are meant to be delivered faster.
Our competitors are focused on the big stores, but we here in packats are focused on the small local stores. So that is how we differ from our competitors.
How our startup can compete and win against our competitors?
The advantage we have here is that the small local stores are experienced in their area, and they know what the customer needs and according to that they have in-demand products, also the small local stores are near customers so we can deliver the products faster than our competitors and we are using bicycles to deliver products so the products are meant to be delivered faster.
Finance
Financials- Store subscription fee & Delivery fee.
Store subscription fee-
$200 & 20% per order.
Delivery fee-
20% per order.
Store subscription fee-
$200 & 20% per order.
Delivery fee-
20% per order.
Business model
Key Partners-
Local stores & Delivery people.
Channels-
Website & App
Revenue Streams-
Store Subscription fee & Delivery fee.
Key Activities-
Maintain app & website
Attract new customers and retain customers.
Customer Relationship-
Perfect FAQ's & customer service
Local stores & Delivery people.
Channels-
Website & App
Revenue Streams-
Store Subscription fee & Delivery fee.
Key Activities-
Maintain app & website
Attract new customers and retain customers.
Customer Relationship-
Perfect FAQ's & customer service
Money will be spent on
We would use our funds for-
Mobile App Development.
Payment of delivery people.
Patenting.
Mobile App Development.
Payment of delivery people.
Patenting.
Offer for investor
I am willing to offer 15 % of Packats shares for $100,000
Team or Management
Risks
Risk and reward go together. The only risk by far as we see in our startup is the financials. We think that charging 20% every time for both customers and local stores would be evil. So in the future, we are planning for a subscription for delivery where customers pay a subscription fee and gets product delivered for free. For the local stores, we will decrease the percentage for the store which has fewer orders and an increase for the stores which have more orders.
Incubation/Acceleration programs accomplishment
I have won a Summer entrepreneurship tech program 2019 in jersey city which was also featured in njtechweekly.
Here is the link-
https://njtechweekly.com/morrison-technologies-gives-back-to-community-via-summer-technology-entrepreneurship-program/
Here is the link-
https://njtechweekly.com/morrison-technologies-gives-back-to-community-via-summer-technology-entrepreneurship-program/
Won the competition and other awards
I have won a second place in the Summer tech entrepreneurship program in jersey city.
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