My Prep Meals: Original Business Concept and Business Model Canvas

This report presents an original business concept, 'My Prep Meals,' an innovative online healthy nutritional food service operating in the UK. The core of the report revolves around the Business Model Canvas, dissecting its nine key elements: key partners, key activities, key resources, value proposition, customer relationships, customer segments, channel...Read More

ORIGINAL BUSINESS
CONCEPT - “MY PREP
MEALS”

Table of Contents
INTRODUCTION...........................................................................................................................2
Business Model Canvas..........................................................................................................2
REFERENCES................................................................................................................................5
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INTRODUCTION
Original business concept of My prep meals is unique and innovation as the focus on firm
is to offer healthy nutritional food service online across UK. The focus of report is on business
canvas Model of My prep meals in order to gather brief information about 9 core elements of
business that is, key partners activities, resources, value proposition, customer relationships,
customer segments, channels, cost structure and revenue streams. Thus, the model will help in
developing critical aspect of very business activities of My prep meal which is followed by
organisation to serve consumer satisfaction.
Business Model Canvas
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Key Partners
 Key partners of food
business plays an
important role as the
individuals are the core
asset to successful
managing of business.
 Key partners of My prep
meal comprise, DOD for
delivery across UK.
 Apart from this there are
suppliers for kitchen raw
material and Food
Suppliers. Social media influencer
for marketing and creating
awareness.
Key Activities
 Managing customer relationship.
 Launching Commercials
 Timely delivery
 Development of Application and website
 Enabling nutritional advise to consumers.
Value Proposition
 The firm aims at serving
nutrition with the vision
which is We fuel your
journey.
 Customized nutritional food
services with timely home
delivery system.
Services of My Prep Meals are:
 Healthy nutrition food
service which comprise
lunch, breakfast, beverages,
dinner and snacks.
 Nutrition plans according
consumer needs.
 Timely to time delivery
which excluded Highlands
and islands.
 Offering nutrition advice to
customers one to one with
Nutritionist
 Analysis of consumes needs
via loyalty program.
Thus value preposition helps the
organisation in attain goals and for
customization of services.
However, it is source which helps
in determining that needs of buyers
are satisfied according to their
requirement (Ojasalo and Ojasalo,
2015). Hence, it can be said that
value preposition helps My prep
meals in developing brand by
Customer Relationships
For effective customer relationship My preps has
implemented use of following:
 Partnership with social Media which helps
in targeting major population at single
platform.
 Loyalty programs, and rewards to regular
buyers is another strategy used by firm to
promote services and maintain effective
relationship with buyers.
 To gain trust of consumers, the business
allows 11 to 1 appointment to buyers from
Nutritionist.
 Geographical expansion
 Personalised meal to every buyer.
Customer Segments
Adults of Holborn
 Women and Men
 Age will be 18 to 45
 Health conscious
 Online buyers
 Price sensitive adults.
Holborn Office workers
 Consumers will be
segmented according to
price sensitivity.
 Women and Men
 Online buyers
 People who prefer
meals in office by
ordering them from
online platform.
Key Resources
 Kitchen equipments
 Funds
 Health professional that is Nutritionist and
chefs : Human Resource
 Delivery Staff: Human Resource
 Brand Name is an intellectual patent which
is My prep Meals.
It is important for the company to ensure adequate
availability of resources in order to manage
successful business operations.
Channels
Channels are the best source of reaching segmented
consumers and is the best plan which offers
attraction to buyers.
The channels will be integrated with the helps of
corporations and partnership.
Mobile application of My prep meals and its online
website is the best channels which helps the firm in
maintaining cost efficiency of functions
Collaboration with health professional like
Nutritionist helps in integrating with consumers
regularly.
My Prep will imp-lent use of social marketing for
spreading awareness about its food services and
delivery system
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designing services according to the
needs to consumers.
Cost Structure
Cost structure plays an important role in minimizing cost errors and maximizing profits. However, every cost
structure of my prep meals comprise:
 Salary of health professional that is Nutritionist.
 Marketing and promotion
 Regular development of website and application
 Food Inventory
 Accounting system
 Kitchen Rentals
 Packaging Cost
 Delivery Expenses
Revenue Streams
It is related to revenue generation scheme where the firm offers discounts and schemes to customers.
For this My Prep meal offers advance subscription for the 6 days minimum where the customer are
asked to pay in advance for delivery. In this scheme, the company offers 6 day continuous food
services to buyers. Schemes like this by company established convenience to customers.
The firm advertises about discounts on social media in order to attract buyers which will help in
generating revenue (Meertens and et.al., 2012).
My prep will also implement the use of Yield management in which the focus of firm will be on
making changes in prices according to demand of buyers.
In addition, the food pricing will be done on item required by customers in one particular meal.
Thus, it can be said that revenue streams will be planned by firm according to current paying ability
of potential customers.
4

REFERENCES
Books and Journals
Meertens, L.O., and et.al., 2012, March. Mapping the business model canvas to ArchiMate. In Proceedings of the 27th annual ACM symposium on applied computing (pp. 1694-1701).
Ojasalo, K. and Ojasalo, J., 2015. Adapting business model thinking to service logic: an empirical study on developing a service design tool. THE NORDIC SCHOOL. 309.
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