LUNCHBOX
Your Home Meal is just one Tap away
LUNCHBOX is a apps-based Lunch box delivery and return service provider which delivers hot lunches
from consumer’s home to people who are working in office, Business places or anywhere in Dhaka and
Chittagong at a minimum price. Here in this Assignment we will analysis the feasibility test and develop
business model of my business idea “LUNCHBOX”.
Feasibility analysis is the process of determining whether a business idea is viable or not. It’s a preliminary
evaluation to determine whether the idea is worth pursuing or not. First, we will conduct the
Industry/Target market feasibility analysis of Lunchbox.
Industry/Target Market/Team Feasibility Analysis
Industry/target market feasibility is an assessment of the appeal of the industry and the target market for
the product or service being proposed. There is distinct difference between farms industry and target
market. Lunchbox is under food delivery service and our target market is working people. To conduct the
industry/target market feasibility analysis for lunchbox we will use two component of Industry/target
market feasibility analysis:
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Industry Attractiveness: We will follow Top three Characteristics of attractiveness of industries
to determine whether the food delivery industry is attractive for not:
Are young rather that old: Lunchbox is app-based food box delivery service under food delivery
service industry. This industry has recently grown in Bangladesh. Before 10 year there were no
such service in big number so yes, this industry is young rather than old.
Are early rather than late in life cycle: Food delivery industry is very recently grown service. This
industry has many things to explore with time so yes, the industry of food service like Lunchbox
is early rather than late.
Are growing rather than shrinking: Day by day food delivery industry is vastly growing. More
people are getting related with this type of services. Availability of internet user is helping this
industry to grow fast.
Target Market Attractiveness: The challenge of target market is to find a market that large
enough and yet small enough to avoid attracting larger competitor. Lunchbox’s target market is
Working people in different office and business place in Dhaka Chittagong. We know Huge people
work in these two cities so yes, the market is large enough and as there is currently no such
competitor who deliver Lunchbox form home to office we believe the target market is attractive.
To get a In-dept analysis We will use Mullins seven Domains Model. It helps in understanding the
influence of 7 major factors or domains that are responsible for successful turnout of a Business.
Market Domain (Macro level: Market Attractiveness):
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How big the market is: According to “Business Inspection”, the market size of Bangladesh’s food
delivery industry is around BDT 30-50 million. City-dwelling people have been one of the factors
behind the success of such food delivery services. So yes, the market is big enough.
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Number of Consumers: According to “Business Inspection” from 2019, the food delivery
companies in Bangladesh used to deliver 25,000 orders daily at that time and everyday its
growing. So, we can understand, how big number consumers are related in this industry.
Trends: Recent growth of this industry is very high and persistent. Last five year, this industry has
sized double.
Market Domain (Micro Level: Target market attractiveness):
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Market segmentation: Our market segment is working people so working people is going to
benefited by our service. As working people rate in Dhaka Chittagong is high so it’s a good
segmentation.
Competitive advantage: This industry is basically delivering food form restaurant but as we are
planning delivering food from consumers own house which is unique and advantage for us.
Entry to other segment: As food delivery industry is a growing industry so there will be huge
chance to entry in other segments. We can make variation in target market.
Industry Domain (Macro level: Industry Attractiveness)
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Entry barrier: As this is a startup business, investment is a big barrier for Lunchbox. Beside
governments new policies in e-commerce will be a big barrier to entry in this market.
Competition: Currently there are no such delivery service like lunchbox so competition will be low
but as the service is new and people are used to order restaurant food instead home when they
are outside. So, this will be a big challenge to make people adjustable with such new service. Idea
theft in this industry is also a big competition.
Power of Buyer: Working people cost so much for Lunch in hotel, so if they have the opportunity
to get their own house-lunch in workplace for low cost they will able to afford it.
Industry Domain (Micro Level: Sustainable advantage):
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Duplicity: Duplicating in food delivery is very high. As the business idea is unique so duplicity
chance is very high and its so easy to duplicate this type of business.
Team Domain: Mission, aspirations, propensity for risk:
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Team Commitment: As we are students and want to fulfill the dream of our own business, we are
very committed to our business. We believe each other, trust, mutual respect will help us to grow.
Passion for the business: All my teammate is entrepreneur minded and developing own business
is our passion. We want to take risk to achieve something big.
Team Domain: ability to execute on critical success factors:
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Wrong Decision: The wrong decision that will cost me the most is give up trying after initial failure.
Startup business can face difficulties so If I give up on failure its over. So, I have to try my best and
never give up.
Beneficial Activities: The activities that will help me is keeping myself focused to the business.
Team Domain: Connectedness up, down and across value chain:
I will try to maintain a good balanced relationship with all my investors, supplier, customers, distributors
and competitors. Transparency in business is my main focused thing to maintain good relation.
Organizational Feasibility of LUNCHBOX
Organizational Feasibility analysis is conducted to determine whether a proposed business has sufficient
management expertise, organizational competence, and resource to successfully launch the business.
Here I will test the organizational feasibility of LUNCHBOX using VRIO framework:
VRIO Framework of LUNCHBOX
Feature/resources
Value
(is it
valuable)
Yes
Rarity
(is it rare)
Yes
Imitable
(is it
Imitable)
No
Organization
(are we
organized)
Yes
Box Return
Service
yes
Yes
No
yes
Fast delivery
yes
no
no
yes
QR code to
Recognize box
Yes
yes
yes
Yes
Technology
yes
yes
no
yes
Lunchbox Delivery
Service
Impact of
competitive
advantage
Temporary
competitive
advantage
Temporary
competitive
advantage
Competitive
Equality
Long Term
competitive
advantage
Temporary
competitive
advantage
Business Model of LUNCHBOX
Business Model is a very essential part for startup to grow. So, here we are developing a Business Model
canvas for LUNBOX:
Key Partners
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Delivery
Provider
IT
support
By-cycle
seller
Key activities
•
Lunchbox
Delivery
service
Value Proposition
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•
•
•
•
Key Resources
•
•
Technology
Customer
Relationship
Self-Home
Lunch
No more
outside
food
Hygienic
Health
Benefit
Save money
from
outside
food
Earning for
riders
•
•
•
•
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Delivery-Man fee
App Maintenance
Office Rent and Maintenance
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Working
people
outside
Home
Channels
•
•
Cost Structure
Customer
support
chat
Rating,
Feedback,
Review
system
Social
Media
Customer
segments
Mobile
App
Website
Revenue Streams
•
Delivery Charge
To get a detail view of the 9 building of LUNCHBOX lets describe it more:
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Value Proposition: We will provide value to consumers by providing them the opportunity to have
their Self-home lunch in workplace instead of outside unhygienic food. So, working people don’t
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have eat unhygienic outside food which will give them Health benefit and save their money.
Beside we will provide part time job with earning opportunities for riders.
Customer segment: We want to deliver this value/service to working people outside from home.
Everyday people have to go to office’s, business place’s or emergency places. This people are
forced to eat outside food form hotel/restaurant in lunch sometime dinner. So, targeting this
people we are introducing LUNCHBOX service. By using our service working people can eat their
own house food at work places.
Channel: we want to delivery our LUNCHBOX service by Mobile app and our website. Using the
app/website user can easily take our service just by selecting the pickup point and destination
point location on google map. Our nearest rider will take the ride of LUCHBOX.
Key Activities: Our key activity is to deliver Lunchbox form user Home to their workplace by our
riders who will use by cycle for short distance and motor cycle for long distance.
Revenue streams: For LUNCHBOX service we will charge people very low based on the distance.
Delivery charge will be our main revenue stream.
Customer Relationship: Our customers are always our main priority. We want to maintain a good
relationship with them by our customer support chat where we will answer/solve every
question/complain. Customers can give ratings and feedback of our service which we will review
by our review system. We will maintain our social media to maintain a warmth relation with
customers.
Cost Structure: Our main cost will be giving a percentage for each ride to our riders. We have to
give a maintenance cost of our App to developer to keep it updated with new features. Office rent
in every month and maintenances will be included in our cost structure.
Key resource: Technology is our main resource. LUCNBOX is an app-based service so app is our
item for the business. We will keep the app updated, innovative etc.
Key partners: Our main partner is our delivery provider riders who is the ultimate service provider
of LUCNBOX. Secondly, IT farm who will always give support on our app maintenances and lastly,
we will make a partnership will by-cycle provider who will give us cycle for our new riders.
Hope this all canvas model will help met to overcome challenges as a Startup “LUNCBOX”.
References: Bhattacharjee, 7th February, 2021, Food Delivery Industry of Bangladesh Making Strides
Through
Influx
of
Foreign
Capital,
Viewed
13
<https://businessinspection.com.bd/bangladesh-food-delivery-industry/>
October
2021,