Assignment task:
Please provide a fully typed written report of Business plan for Elder eats catering service by referring the uploaded image of lean canvas below. The attached lean canvas is of the Elder eats that is the catering service to retirement homes offering restaurant style dining experience. The lean canvas has all the details in it. Please answer based on that.
Problem Analysis - What are the problems you are trying to solve via your new business, product, or service? Essentially, why does your company exist?
Solution - What is your business - name, category, description.
Describe your product/service in detail, focusing on the customer benefits. Answer the "why should I spend my hard-earned dollars on what you are selling?" What customer needs do you plan to satisfy? Should be directly connected to each problem you stated previously. How are the "problems" your opportunity? If relevant, articulate how your business also solves a social or environmental problem.
Customer segments - Who are your customers? (Target market, including size and demographics, interest, psychographics). Suggest 2-3 main customer groups.
Unique value proposition - What makes your product/service unique? Your philosophy and/or purpose. Be sure to validate your statements, back up your words with something tangible or concrete in this area.
A Clear and Compelling Message - explain what you do, how you are different, and why you are worth investing in. What is your promise to consumers? Zero in on the heart of your service and highlight what stands out about product you provide.
Unfair advantage - This is similar to your competitive advantage. Your Differentiator - how do you stand out from competitors? What puts you ahead of the pack? Why should consumers have confidence in your service above others? Again, validate or back up your claims.
Revenue streams - How will you provide a sustainable revenue stream? How will you price your products/services? Revenue model, lifetime value, gross margin. What monetary sources will fuel your company? How will you generate income? Highlight other sources of revenue.
Cost structure - ( please provide values in dollar) What are your expenses (fixed costs and variable costs)? How much will you take for income How many units (of product or service) will you need to sell to break even in one month? Customer acquisition costs, distribution costs, hosting, people, and related expenses. What will it cost to launch and maintain your business? Consider each stage of your start-up from creating a website and acquiring users, to hiring employees and producing goods, to marketing products and delivery to the end user.
Key metrics - What are your main goals and objectives? How will you know when you have met them? What are the key activities that you can or will measure? How will you track consumer engagement, excitement, and usage of your product?
Channels - What is your "pathway to customers"? How will you interact with consumers, inform them of your developments and services? Print ads, social media platforms, promotional events, or even word of mouth-consider the most effective ways to reach users. Utilize your knowledge from marketing. You should provide a comprehensive overview of your marketing plans.
Competition and Research - Additional Information:
Although specifically not part of the canvas block, any solid business plan will identify the competition and provide some evidence of research of your proposal. Using research, data, and explanations, provide some discussion points or evidence to support your ideas.