"Snakr" Startup Pitch Deck

Snacking Reimagined

LEAVE BEHIND DECK

TABLE OF CONTENTS

INTRODUCTION Meet the team Problem / Assumptions PRIMARY RESEARCH Surveys Interviews Experiments Observations SECONDARY RESEARCH Environment Scan Competitor Analysis Market Analysis DEVELOPMENT Insights Customer Personas Business Model Canvas Minimal Viable Product Our Vision What's Next CITATIONS

3 3 4 6 8 12 14 18 21 21 23 25 29 29 31 34 40 43 45 46

INTRODUCTION

01 NOMAN RAFIQUE

AKIVA BAKST

Founder

C0-Founder

Karachi, Pakistan

Colorado, United States

MEET THE TEAM

INTRODUCTION

02 PROBLEMS / ASSUMPTIONS We started with a common problem most college students face in regards to cafeteria food quality, accessibility and convenience that leads students to miss meals and binge on unhealthy snacks due to their convenience and affordability

01

College Students Miss Meals

Healthy Eating Is Inconvenient For Students College Students Are Broke

02

03

04

Healthy Food Tastes Bad

03

PRIMARY RESEARCH

PRIMARY RESEARCH

In order to validate our assumptions, we conducted 1 on 1 interviews, online surveys, experiments and observations. Our participants were students from Ringling College of Art & Design & New College of Florida ages ranging from 16-26 years.

02

79

Experiments

Surveys

23

Interviews

05 Observations

04

PRIMARY RESEARCH

SURVEYS

We sent out 5-min (9 questions) long online survey to students from Ringling College and New College of Florida. In 3 days, we received over 70 responses. Our main goal was to get a primary insight about students eating routine.

Prefer Not Say 3.8%

22 6.2%

24 3.7%

4 Meals 3.8% 1 Meal 17.7%

Male 27.8% Female 63.2%

Gender

2 Meals 50.5%

20 55.4%

21 29.8%

3 Meals 24.1%

Age

Meals / Day

8 8.9%

1 6.3%

Accessibility 3 6.3%

Affordability Convenience

$40-$50 19.5%

Time

7 20.2%

$70-$100 1.3%

$10-$20 21.7%

Cost 4 20.2%

6 12.7%

Money Picky Eating Energy to Cook Motivation

5 21.6%

Item 10 0

$30-$40 24.8% 25

50

$20-$30 29.9%

75

Scale of Healthy

Challenges on Eating

Food Cost

Diet 1-10

Healthy

Per Week

25

Nuts

20

Protein Bars Pop Corn

15

Cereal 10 Yogurt 5 Dark Chocolate 0

0

1

2

3

4

5

6

Cost Spent on Snacks

7

8

9

10

0

10

20

30

Types of Snack Items

40

50

05

PRIMARY RESEARCH

INTERVIEWS

We conducted 10 min 1 on 1 interviews to learn about students' eating habits, financial stability and frustrations (if any) regarding food on campus. In order to diversify the data, we interviewed students in every cafeteria on campus as well as students living off campus without a meal plan

Questions

Themes

1. Walk me through a typical day of eating.

2. Do you live on campus?

3. How many meals do you usually have?

4. Do you ever snack?

5. What do you usually snack on?

5. Any feedback regarding eating on/off campus?

6. How much do you spend on food/grocery?

7. Do you have a kitchen at your place?

8. Do you cook? What do you usually cook?

9. Do you have a car?

Missed meal Frequent snacking Busy routines Limited budget Lack of culinary skills Unpleasant cafeteria food Unhealthy - Moderately healthy diet Convenience priority

Participants Hammonds Syeda Fyruje Isabella Dennis Ananya Varma Malveka Mahna Manav Mody Khushbu Pohani

Outtakes Lydia Wolfahrt Jimin Han Esther Chang Oliver Mills Iris Xintong Alex Forstorm

Brickman Cafe Emily Cyr, Erin McGowen, Olivia Coucci Hayden Morin Mason Pocklington Andrew Kroll

Off campus Nickolas Romano Oliver Lin Jake De Gaetano Lyman Anderson Oskar Flores

06

PRIMARY RESEARCH

EXPERIMENTS

We used the data of how much our potential customers spend on snacks from interviews and surveys to determine how much they would be willing to pay for our product. However, this alone was not enough since there are other factors like shipping and handling that could affect the total subscription cost. Therefore, we conducted an experiment with two giveaways one for a full snack box and other for free delivery on snacks for a month. We also used Facebook Ads directed towards college students to see which gets the most leads.

EXPERIMENT RESULTS Free Delivery 35.4%

Free Snacks 64.6%

As we anticipated more than half of the participants preferred free snacks over free delivery but after conducting some more interviews and secondary research, we decided to include free delivery since it was more attractive to our target audience and people were more likely to pay a flate subscription fee without worrying about shipping and other added fees.

07

PRIMARY RESEARCH

OBSERVATIONS We wanted to test if people are actually willing to eat healthy and buy our products. In our survey, people reported that the reason why they don’t eat healthy is because of time, cost and convenience, We wanted to further validate that with a free snack booth, where people were given the chance to choose one free snack out of two categories

PARTICIPANT FEEDBACK

5

4

3

5 out of 8 participants in 20 min period opted for healthier snacks over bag of chips & chocolate. This provided us with the data that students are willing to eat healthy given it is convenient, within their budget and most importantly taste good to them.

2

1

0

Healthy

Unhealthy

“I can get lays and Hershey’s from outtakes any day”

“I have had peanut butter but never tried cashew butter”

“It just looks and sounds like something my mom would make”

08

SECONDARY RESEARCH

ENVIRONMENT SCAN

We scanned our industry to find out interesting trends and insights that would be helpful for our start up. We found out that due to the convenience of snacking, and millennials' busy routines, more and more adults are opting for snack over meals. Moreover, people associate snacking to their wellbeing and culture/family connectedness, This provided us with sufficient market for our start up

09

SECONDARY RESEARCH

COMPETITOR ANALYSIS

After validating the market needs for our product, it was time to see what others in the industry are doing when it comes to snack subscription boxes. We found out that even though subscription boxes are an emerging industry, most brands use third party snacks. We stood out in the aspect of artisan handmade snacks that does not rely on distributors.

VALUE PROPOSITION

TARGET AUDIENCE

COST STRUCTURE

DIRECT

INDIRECT

FUTURE

Munchbox

Hello Fresh

Rawsome

Chef prepared meals tailored to customer's diet for a weekly subscription

Personalized, healthy & gourmet subscription snack service

Millennials, Corporate offices & Young Professionals

Young Professionals, bluecollar singles

College students, single parents & young professionals

$20-$40 / month

$85 / week

$30 / month

subscription based healthy personalized snack service

SECONDARY RESEARCH

10

MARKET ANALYSIS

We conducted market analysis consisting of PESTEL, market trends and macro-economic forces that could potentially impact our start up. We found out that there are multiple opportunities in our industry despite it being a competitive field, however, there are some legal regulations that serves as a potential cost burden slowing down our start up. We decided to work on recyclable packaging in order to meet the industry trends and reduce excess waste production

P - FDA Licensing for food preparation and handling - Regulations on organic and GMO food - Regulations on food transportation safety

E - US Taxation policies on packaged food -High employment -Interest rates of third party payment getaway - Delivery & labor costs

S

T

E

L

- Health consciousness

- AR Integration for "try before you buy"

- Global warming / climate change

- Trends towards gourmet artisan and ethnic cuisine

- Increasing automation in subscription style business

- endangered food crops

- Product labeling and other requirements in Processed & Packaged Goods

- Waste production from packaging & unused goods

- Copyright, patents / Intellectual property law

- Carbon emission from package delivery

- Health and safety laws

- Convenience mindset with busy lifestyles

Artificial Intelligence integration (e.g Amazon Fresh w/ Alexa) - Third-party payment getaways - Bio degradable packaging - Food preservation techniques

KEY TRENDS Technology Online subscription Third party payment methods (e.g: PayPal) AR Integration for "try before you buy"

Regulatory Sustainable packaging laws Food preparation & handling licenses Minimum wage kitchen workers

Consumer Try before you buy Free delivery Free Trial More is less

Social Reward Uncertainty The unboxing experience Personalization Female engagement

MACRO ECONOMIC FORCES Global Geo-Political Conditions: The food industry in the US has very strict regulatory laws to ensure the health and safety of the citizens is in not in risk.

Therefore, new businesses have to meet the federal requirements and bear the legal costs involved

Economic Infrastructure: Food delivery businesses rely hugely on the crops/whole foods, delivery structure & cost and the e-commerce platform being used. The fluctuating oil prices serves as a threat to the food delivery industry and the upcoming 5G internet speed and constantly improving technology serves as great opportunities.

Commodities & other Resources The US economy is constantly rising resulting in new businesses rapidly emerging including subscription services, however this serves as a threat and competition to new businesses and start ups.

DEVELOPMENT

11 INSIGHTS

After validating our assumptions through primary and seconday research, we took a moment to synthesize all the data in order to design a product according our customers' need and market trends

Primary Research Frequent missed meals Common frustrations regarding cafeteria food e.g; taste, timing, variety Busy schedules of students Financial instability Common snacking patterns Willingness to eat healthy when convenient Flat fee > product + delivery

Secondary research Subscription boxes are trending Snacking is becoming more common compared to meals Snack subscription is a competitive industry but lacks personalization & originality FDA Licensing & Regulations Excessive waste production from packaging & unused items Health consciousness

Takeaways Priced at $29.99/mo with free deliver (included in the cost) Portable snack items Licensing & Regulations Further research needed in terms of culinary knowledge, hiring staff, rents etc Sustainable packaging ideas Online subscription eliminating the distributor

12

DEVELOPMENT

CUSTOMER PERSONAS

Once we had synthesized our primary & secondary research and had enough data about our potential customer segments, we built personas of customers who would subscribe to our products so we could tailor our products according to their needs.

DEVELOPMENT

13 BUSINESS MODEL CANVAS

We created BMCs throughout the research process and made changes according to our findings. Our BMC changed and became more specific over time as we validated further assumptions and collected more secondary research

KEY ACTIVITIES Partnering with local whole food/snack vendors Food Preparation Partnering with UberEars/Doordash?

KEY PARTNERS Local whole produce vendors Ringling College USPS

KEY RESOURCES Culinary Knowledge Design Skills Marketing Skills

COST STRUCTURE Research needed to determine

UNIQUE VALUE PROPOSITION Organic gourmet snacks delivered to your door

CUSTOMER RELATIONSHIPS Website App FAQs Online support

CHANNELS USPS Online Promotion Social Media Ads Marketing.

REVENUE STREAMS Research needed to determine

CUSTOMER SEGMENTS Millennials College students

KEY ACTIVITIES Partnering with local whole food / snack vendors Food Preparation Partnering with UberEars/DoorDash Catering to college events Food Distribution

KEY PARTNERS Farmer's market Whole Foods Publix Ringling College New College USFM DoorDash UberEats Postmates

KEY RESOURCES Culinary Knowledge Design Skills Marketing Skills Food Availability

COST STRUCTURE $19 worth of snacks in each box Shipping & handling expenses

UNIQUE VALUE PROPOSITION Organic Gourmet Convenience Affordability Health/wellness

CUSTOMER RELATIONSHIPS Website App FAQs 24/7 customer support Personalization Customization

CHANNELS DoorDash / UberEats / Postmates / USPS Online Promotion Social Media

REVENUE STREAMS $49 monthly membership

CUSTOMER SEGMENTS Millennials College students Snackers Health nuts

KEY ACTIVITIES Legal licensing & Certification Trade marketing & Marketing Campaign Partnering with local gourmet food / snack vendors / Ringling College & USPS Collecting Items from partners according to demand Storing them at a location Preparing food according to demand Monthly distribution

COST STRUCTURE $19 worth of snacks in each box Free shipping & handling expenses Legal licensing & certification fees Trade-marking & Marketing costs

KEY PARTNERS Farmer's market Whole Foods Publix Ringling College New College

KEY RESOURCES Culinary Knowledge Design Skills/Marketing Skills Food Availability Legal Resources

UNIQUE VALUE PROPOSITION Organic Gourmet Convenience Affordability Health/wellness

CUSTOMER RELATIONSHIPS Website App FAQs Business hours customer phone call support Personalization Customization

CUSTOMER SEGMENTS Millennials College students Snackers Health nuts

CHANNELS USPS Online Promotion Social Media (Snapchat/Instagram Ads Marketing.

REVENUE STREAMS $49 monthly membership Free shipping and handling (including in the subscription fee) No cancellation fee

KEY PARTNERS

KEY ACTIVITIES Legal licensing & Certification Trade marketing & Marketing Campaign Website & Launch App Partnering with local gourmet food / snack vendors, Ringling College, New College, USFM, & USPS Collecting Items from partners according to demand Storing them at a location Preparing food according to demand Monthly distribution to suscribers

Local whole produce vendors Ringling College New College USFM USPS Shopify

KEY RESOURCES

COST STRUCTURE $12 worth of snacks in each box Free shipping & handling expenses Legal licensing & certification fees Trade-marking & Marketing costs

Culinary Knowledge Design Skills/Marketing Skills Food/corpse availability Legal Resources E-commerce platform

UNIQUE VALUE PROPOSITION Organic Gourmet Convenience Affordability Health/wellness

CUSTOMER RELATIONSHIPS Website App FAQs Personalization Customization

CHANNELS USPS Online Promotion Social Media (Snapchat/Instagram Ads Marketing.

REVENUE STREAMS $29.99 monthly membership $10 shipping & handling No cancellation fee

CUSTOMER SEGMENTS Busy college students Young professionals Snackers Health nuts

KEY ACTIVITIES Legal licensing & Certification Marketing Campaign Website Launch Partnering with local gourmet food / snack vendors, Ringling College, New College & USPS Collecting Items from partners according to demand Storing them at a location Preparing food according to demand Monthly distribution to suscribers

COST STRUCTURE $10 worth of snacks in each box Free shipping & handling expenses Legal licensing & certification fees Trade-marking & Marketing costs

KEY PARTNERS Local whole produce vendors Ringling College New College USPS

KEY RESOURCES Culinary Knowledge Design Skills/Marketing Skills Food Availability Legal Resources E-commerce Platform (Shopify)

UNIQUE VALUE PROPOSITION Organic Gourmet Convenience Affordability Health/wellness Portability / comfort

CUSTOMER RELATIONSHIPS All-in-one Website Support via email FAQs Personalization Customization

CUSTOMER SEGMENTS Busy college students Ages 16-26 Students wanting to eat healthy Students looking for allergen friendly, customizable and healthy snack options College students' parent (future)

CHANNELS USPS Online Promotion Social Media (Snapchat/Instagram Ads Marketing

REVENUE STREAMS $29.99 all inclusive monthly membership Free shipping and handling (including in the subscription fee) No cancellation fee

DEVELOPMENT

14 MINIMAL VIABLE PRODUCT

For our MVP, we created a website with our product description, value proposition, subscription model and customer reviews. Our goals is to get leads from potential customers so that we can figure out the demand of each product and design & produce accordingly

SIGN UP

PREAPARATION

DELIVERY

Sign up online, choose what you like to munch on specify any allergies or dietary restrictions

We will prepare a custom box for you based on your selection

Get your Snakr box delivered to your door every month at no extra cost.

15

DEVELOPMENT

OUR VISION

We want to provide a gateway for college students to have access to healthier snack options without breaking the bank. Our objective is to not only help students be health conscious on what snacks they eat but also feel satiated, replenished, and energized afterwards.

01

CONVENIENCE

02

Marketing

QUALITY

02

AFFORDABILITY

What's Next?

15k

29k

1k

MARKETING

PRODUCTION

LEGAL

Further testing, social Media marketing, website hosting, ad campaign

Whole raw food, delivery, utilities, kitchenware, storage unit, rent

Licensing and trademarking

THANK YOU! We appreciate you viewing our project

CITATIONS Warner, J. (2009). Freshman 15: College Weight Gain Is Real. Retrieved 4 December 2019, from https://www.webmd.com/diet/news/20090728/freshman-15-college-weight-gain-is-real Panko, R. (2019). Subscription Box Services Statistics 2019: The Most Subscribed-to Brands | Clutch.co. Retrieved 4 December 2019, from https://clutch.co/logistics/resources/subscription-boxservice-statistics#BLUEAPRON Hess, A. (2018). New study finds that 36% of college students don’t have enough to eat. Retrieved 4 December 2019, from https://www.cnbc.com/2018/04/06/new-study-finds-that-36-percentof-college-students-dont-have-enough-to-eat.html Mclynn, K. (2017). Snack Foods Are Increasingly Consumed. Retrieved 4 December 2019, from https://www.npd.com/wps/portal/npd/us/news/press-releases/2017/snack-foods-areincreasingly-consumed-at-main-meals-and-gen-zs-and-millennials-will-drive-this-trend-over-the-next-decade/ A snacking nation: 94% of Americans snack daily. (2015). Retrieved 4 December 2019, from https://www.mintel.com/press-centre/food-and-drink/a-snacking-nation-94-of-americans-snack-daily Spritzler, F. (2019). Is Snacking Good or Bad for You?. Retrieved 4 December 2019, from https://www.healthline.com/nutrition/snacking-good-or-bad Nickalls, S. (2019). Consumers Worldwide Are Eating More Snacks Than Meals. Retrieved 4 December 2019, from https://www.adweek.com/brand-marketing/consumers-eat-more-snacks-thanmeals-according-to-new-mondelez-report/?utm_content=position_1&utm_source=postup&utm_medium=email&utm_campaign=BrandMarketing_Newsletter_191111123741&lyt_id=117400 Mondelēz International. (2019). The State of Snacking [Ebook]. Retrieved from https://www.stateofsnacking.com/ GRANT, M. and KENTON, W. (2019). Understanding Switching Costs. [online] Investopedia. Available at: https://www.investopedia.com/terms/s/switchingcosts.asp [Accessed 7 Dec. 2019].

Gu, M. (2019). Here's Why You Might Want to Reconsider Snack Subscription Boxes. [online] Spoon University. Available at: https://spoonuniversity.com/lifestyle/snack-here-why-you-mightwant-to-reconsider-snack-subscription-boxes [Accessed 7 Dec. 2019].

Barseghian, A. (2019). Council Post: What's Behind The Rise Of The Subscription Model?. [online] Forbes.com. Available at: https://www.forbes.com/sites/forbestechcouncil/2019/08/12/whatsbehind-the-rise-of-the-subscription-model/#2a0da0f935c3 [Accessed 7 Dec. 2019].

Fern Fort University. (2019). J&J Snack Foods Corp. PESTEL / PEST & Environment Analysis[Strategy]. [online] Available at: http://fernfortuniversity.com/term-papers/pestel/nyse4/699-j-j-snackfoods-corp-.php [Accessed 7 Dec. 2019].

Frue, K. (2017). PEST Analysis Example for the Food Industry. [online] PESTLE Analysis. Available at: https://pestleanalysis.com/pest-analysis-example-for-the-food-industry/ [Accessed 7 Dec. 2019].

Meyer, P. (2017). Whole Foods Market PESTEL/PESTLE Analysis & Recommendations - Panmore Institute. [online] Panmore Institute. Available at: http://panmore.com/whole-foods-marketpestel-pestle-analysis-recommendations [Accessed 7 Dec. 2019].