How to Write a Meal Delivery Business Plan
The meal delivery industry was practically nonexistent just a few years ago. However, because of the recent lockdowns and other reasons, the meal delivery industry has been growing at an impressive pace over the last several years, which has driven the demand for meal delivery business plans, meal delivery business plan templates, and meal delivery pro forma financial projections.
The demand for meal delivery business plans is substantial for several compelling reasons. For instance, meal delivery enterprises offer customers a variety of healthy choices on a subscription basis. Due to the economies of scale, this operational model enables business proprietors to offer reduced-price meals. Furthermore, the convenience of daily meal deliveries is particularly enticing for busy parents and executives. Regardless of the underlying reasons fueling the heightened interest in meal delivery business plans, having a well-prepared business plan constitutes a savvy strategic move. In light of this, our meal delivery business plan specialist has devised valuable tips and strategies that aspiring business plan creators can employ when crafting their meal delivery business plans, utilizing business plan templates, and developing pro forma financial projections (10/23).
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Executive Summary for a Meal Delivery Business Plan or Template.
The executive summary section of the meal delivery plan should be initiated by furnishing crucial foundational information about the organization, including the company's name, address, and delivery service area. Once this groundwork is established, meal delivery business proprietors should clearly articulate one or two distinctive competitive advantages that set their organization apart. Sometimes, meal delivery enterprises may emphasize providing wholesome alternatives to fast-food establishments. Conversely, some meal delivery businesses offer a diverse array of meal plans for customers. Regardless of the distinguishing factor, it is imperative to delineate it within the executive summary segment explicitly.
Company Information and Location for a Meal Delivery Business Plan.
The company information and location section within the meal delivery business plan should reaffirm fundamental company details, encompassing location, meal plan selections, and payment structures. Furthermore, within this section, meal delivery business plan creators should furnish comprehensive insights regarding the company's delivery area. In certain instances, meal delivery businesses extend their services city-by-city. At the same time, in alternative strategic models, organizations confine deliveries to a specific radius determined by their company's locale. Regardless of the chosen structure, it is imperative to specify and document any exceptions to the delivery route, such as large orders. By providing thorough elucidations regarding the organization's location, business proprietors establish a robust business framework from which to operate.
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Popular Services/Products Offered by a Meal Delivery Company.
Meal delivery companies within the industry offer a range of similar services. These services are straightforward, involving meal preparation and delivery to customers. However, what sets competitors apart are the specific meals offered and their corresponding payment structures. Some meal delivery competitors provide customers with a healthy menu option, while others offer a diverse selection of meals. Furthermore, billing structures vary from one company to another. Our meal delivery business plan specialist has discovered that some organizations bill customers monthly, depending on the number of meals ordered, while others charge per meal delivered. Regardless of the meal types and billing methods, these details should be incorporated into the services and products section of the meal delivery business plan.
Marketing Section for a Meal Delivery Business Plan or Business Plan Template.
Owners of meal kit delivery businesses typically employ various marketing channels. Traditional or common marketing channels for this type of business often include using car magnets on their delivery vehicles, maintaining a website, and engaging in social media postings. However, what is sometimes overlooked in meal delivery advertising strategies is including promotional materials with the delivered products. Although delivery bags usually bear the company's name and logo, including a well-designed menu not only informs customers about all available products but also contributes to building brand recognition. This represents one of several innovative marketing strategies that should be integrated into a well-prepared meal kit delivery business plan.
Pro Forma Financial Projections for a Meal Delivery Company.
A meal delivery company's pro forma financial projections should be initiated by identifying the number of customers to be served daily or weekly. Subsequently, estimate the average sales price for each delivered meal, along with the associated variable costs, encompassing expenses such as fuel charges. Based on this framework, the meal delivery pro forma financial projection specialist should multiply the average sales price per delivered meal by the daily customer count and the result by one minus the variable costs. This formula yields the daily gross profit margin for the company. Once this step is completed, the business proprietor can multiply the gross profit margin for the meal delivery company by the number of days in the month, deducting various monthly fixed costs. The resulting difference represents the estimated net profits for the meal delivery company. While this structure may sound complex, the completed financial model serves multiple purposes, from identifying optimal price points to providing insights into which expenses require careful management.
Hopefully, these insightful tips and tricks for writing a business plan were helpful. If you need help with a business plan or financial projections, email or call us.
Author: Paul Borosky, Doctoral Candidate, MBA., Author
Owner of: Quality Business Plan and Quality Business Consultant.
Date: 10/7/2023