YourChef LLC is a service company that provides chefs to customers on a monthly basis. It plans to launch a mobile app to connect customers and chefs digitally. The company aims to target students, bachelors, and others who cannot cook or do not want to cook takeout or mess food. It will provide employment for chefs and plans to hire them as employees. The business will be organized as a limited liability company to separate personal assets from business debts. It will require initial capital for app development, marketing, transportation, and chef salaries, and plans to earn revenue within 100 days of launching.
YourChef LLC is a service company that provides chefs to customers on a monthly basis. It plans to launch a mobile app to connect customers and chefs digitally. The company aims to target students, bachelors, and others who cannot cook or do not want to cook takeout or mess food. It will provide employment for chefs and plans to hire them as employees. The business will be organized as a limited liability company to separate personal assets from business debts. It will require initial capital for app development, marketing, transportation, and chef salaries, and plans to earn revenue within 100 days of launching.
YourChef LLC is a service company that provides chefs to customers on a monthly basis. It plans to launch a mobile app to connect customers and chefs digitally. The company aims to target students, bachelors, and others who cannot cook or do not want to cook takeout or mess food. It will provide employment for chefs and plans to hire them as employees. The business will be organized as a limited liability company to separate personal assets from business debts. It will require initial capital for app development, marketing, transportation, and chef salaries, and plans to earn revenue within 100 days of launching.
YourChef LLC is a service company that provides chefs to customers on a monthly basis. It plans to launch a mobile app to connect customers and chefs digitally. The company aims to target students, bachelors, and others who cannot cook or do not want to cook takeout or mess food. It will provide employment for chefs and plans to hire them as employees. The business will be organized as a limited liability company to separate personal assets from business debts. It will require initial capital for app development, marketing, transportation, and chef salaries, and plans to earn revenue within 100 days of launching.
Mahatma Gandhi Mission College of Engineering and Technology
Kamothe, Navi-Mumbai, Maharashtra 410209
YourChef LLC
Brief Report on “YourChef LLC”
Food Services and Good Services
Presented by: Laxmi R. Ramdasi TE Electrical [119EL3339B]
Presented to: Prof. Sridevi Nair
Date of Submission: 11/9/2020 Abstract:
YourChef LLC is mainly a service provider but innovative. As suggested in
the name, we provide chefs on monthly basis. But YourChef doesn’t stop there, we are digitized. A fully ease of access app set to launch. The Idea is to target a selective audience (consumer) such as students, bachelors or anyone who can not cook and finding for other options than take outs and mess food. This initiative will help in creating employment for number of people. As per the online survey conducted, the statistics are in favor to this start up.
Introduction to YourChef LLC.
This report is created in order to specify the form of business,
understanding of the financial aspects, marketing, targeted group of audience, manpower handling, Technological blueprints, legal entity and sources of information.
Legal entities:
The name itself suggest YourChef LLC is a limited liabilities company, these kinds of companies provide a more formalized legal structure. Here is a structure that separates your personal assets from your company’s debts. LLCs don’t have to have boards, hold annual meetings, or record minutes.
In an LLC, there is no limit to the number of members (as opposed to
“partners”) and ownership can be broken down into different classes which gives entrepreneurs some flexibility when it comes to raising equity financing. An LLC makes sense if your company is only at the stage in your development process. Form of business:
If customers could diagnose their own problems and come up with
workable solutions on their own, they would do so. The reason that they're turning to you and your firm is that they're stuck and need your help. Therefore, you must be able to bring something new to the table. Service Business are referred to as the activities that assist business yet does not deliver a tangible commodity or good. Most of the businesses today are inclined towards such specialized business services. India is growing extremely competitive and giving a tough competition to other countries when it comes to providing services. A large number of foreign country prefer India as their hosting partner for business services.
Manpower handling
This start up is solely based on services and apart from the information technology services, all the other services needs man power. Be in delivering goods, craftsmanship, moving and packing, gardening, security. The concept is providing chefs on monthly basis who will cook 2 meals a day for consumers. Hence, providing a lot of employment. The salary structure will be hybrid, base pay+ incentive. Hence ensuring their long term membership with LLC.
Financial aspects
YourChef is a Limited Liabilities company will be taking business loan from
Yes Bank under Innovative Start-up scheme. This scheme will benefit us as such, for first 90 days taking interest only and then the principal in reducing rate of interest. Breaking down the finance; we need capital for web and app development, marketing, transport of service providers (chefs) and salaries of the employs. The company, according to the business module and blueprints will start earning in/after first 100 days. And since it’s a LLC entity, business directors will be funding capital for the permanent commodities like App and web development, Marketing and vehicles of transport.
Technological Blueprints
The Application and web designing will have 2 way functioning, A1- market app and A2- service provider app. The A1 will be for consumers and A2 for chefs. From A1, Consumer will be able to hire chef, make payments, track and schedule timing and other partially important features. From A2, chefs will be able to accept client request, schedule timings, accept payment.
Targeted group of audience
All the people who do not know how to cook or can not cook because of work timing are the targeted audience. And along with it areas can also be targeted such as college and IT park areas, bachelor rental flats, apartments, societies. Marketing
70% marketing will be digital on the platforms like instagram, facebook and yotube. The rest 30% will be offline flyers and hoardings in the targeted areas.
Financial: https://www.yesbank.in/business-banking/loans/cash-backed-landing- program
Survey: Google forms Description
YourChef LLC is a service provider company which work from behind the application, So the application is our business forefront. This app will work as the mediator, building bridge between consumer to provider.
Roughly speaking, Consumer will hire a chef through the app for monthly basis. Chef will be working under YourChef LLC and will provide service to the consume. The salary structure will be hybrid, ensuring their monthly base salary+ incentive for the number of consumer they provide service to.
The app will also be the mediator between Chefs and company. Consumer will be allocated to chefs through the app. Also The payment for the services will be collected by app ensuring loyalties and monitored services from chefs.
This business module does not involve any commodities, hence lesser financial debts and faster returns to be expected.
Conclusion:
This report covers all the aspects and solidifies the module strategies and pros, on the other hand it also points out some cons but can be solved by analytically and logically. Kindly revert back for corrections if any.
