Groceryscan

John LindsayLaura Richardson

Maria Elena PedrazaNicholas Hettel

The Idea

• You get home from the grocery store only to find that you have forgotten an item because it was not on your list. This can be both time-consuming and frustrating. Groceryscan allows you to easily inventory your current food items and allows you to update your list when you are out of something with a click of a button.

The Business Model

• Our purpose is to provide a fully integrated home grocery inventory system that allows the user to customize a personal grocery list and track an inventory of items at home that can be accessed anywhere at any time.

• Primary revenue stream: We charge a monthly user subscription fee and rental fee for UPC scanners.

The Customer• Our target customers include working

women, housewives and mother’s whose daily life can be benefited from not having to spend valuable time manually creating a grocery list, making multiple trips to the grocery store due to forgotten items or to keep a current inventory up.

The Competition• They offer digitized pen and paper method

with pre-compiled lists

We offer• Customized grocery list creation• Immediate and accurate access to inventory

of items at home• Ability to create list based on usage and

recipe integration

The Message

• “Simplify your life! Save valuable time and money by managing your grocery inventory electronically at home, and avoiding unnecessary trips to the grocery store by using an electronic grocery list with Groceryscan. A solution to your food organization needs at home!”

The Sales Approach

• Our main advertisement to reach our customers will be done through search engine hits, online magazines like “wwork.com”, “WorkingOf.com”, on popular food websites like “Food Network”, and in publications like “Working Mothers”, “Woman’s Day”,

The Inner Workings

• Groceryscan will be an online only business. We will be available 24 hours a day 7 days a week. Access to our site requires an internet connection. We require a web hosting company to maintain our site and a small staff to handle customer issues and questions. We also require a supplier company for the Barcode scanners.

The Management Team

• John —IT and production expertise• Maria Elena and Laura—marketing expertise• Nick, along with our accountant-- financial

expertise• Network with professional associations such

as National Grocer’s Association • Accountant, insurance agent, lawyer on

retainer

The Money ForecastStart Up Costs - $500,000• Web Design and Hosting - $25,000 - $30,000• UPC Database License - $50,000 initial• Barcode Scanners – 2,000 * $200 = $400,000

Annual Expenses $100,000Database Updates and Web maintenance - $10,000$5,000 insurance$40,000 advertising

$180,000 first year Revenue – 30,000 * $6

The Next Steps• Decide on web hosting company

• Begin design of web site

• Choose supplier of UPC scanner

• Have at least 50,000 subscribers by end of Year 2

• Create additional revenue stream by utilizing grocery store advertising and preferred supplier packages.