AMBCC Restaurant Owners and Food Service Professionals1
Poradovatru pitch eng
1. *
Reinventing online food retail
*The joy of cooking
2. Quick summary
Product. Ingredient sets for fun and easy cooking of Investment need.
restaurant-class dishes at home RUB 4 mn( $125,000)
40% share in capital
Current state. Online shop poradovat.ru, $50,000 already subscribed
launched in June, with a 50-80% return rate and av.
ticket of RUB800 IRR 76% - 5 years, incl. exit, before taxes
Payback period 1 year
Growth. First year revenue goal: RUB16 mn
turnover, 2300 clients. Long-term goal: building Contacts.
a $50 mn turnover company. Irina Nazarova, founder
+7 926 232 2250
Promotion. Organizing weekend events for irina.nazarova@poradovat.ru
customers and media. Social networks, context ads,
flyers, partnership projects.
3. Product
We deliver sets of ingredients with all-inclusive
approach for cooking delicious and stylish
dishes at home.
Each set contains the right amount of each
ingredient - fresh and high-quality - and a step-
by-step recipe.
4. Idea
A small miracle made by you
Stylish dishes from gourmet magazines seemed like a
fairy tale – now you can get everything you need to
make them at home!
Our step-by-step recipes make cooking simple for
all.
Amuse yourself and your beloved
We reinvent cooking as a creative
entertainment and the best way to
cherish your family and friends
5. How it works
Choose a dish on our website
poradovat.ru
and get a complete set of ingredients
and a step-by-step recipe
same day
Delivery across Moscow and a pick-up point
are provided
6. Target audience
25-40 years
Income above $2,000 per family member
Couples (73% of current sales), groups of friends (17%),
single men (10%)
Businessmen, valuing style, simplicity, quality, and their
own time
Customers of premium supermarkets, cooking
magazines, farmers’ projects
Buyers of takeaway food in cafes and restaurants
7. Market and competition
• Shefmarket – direct competitor, market maker
Sales launched: July, 2012. Website launched: May 2012.
Mass market
• LavkaLavka – recipe sets (4)
Premium market
Organic and farmers’ products only
• Azbuka Vkusa – “Almost ready” (half-prepared meals)
• Белая дача, Фруктовая почта, Sen Soi
sets of vegetables for salads and soups, sold through supermarkets
• Cafes and restaurants
selling take-away food
8. Prospective market
Restaurant industry Audience of premium cooking magazines
40 2011, $bn in the largest Russian cities, 2012
30
30 Th.
20 1200
10 4.5 1000
0
800
Rosstat Russia Moscow
600
Av. ticket in cafes & restaurants, Moscow
400
13% 200
33% 500-1000
1000-1500 0
20% Gastronom Shkola Afisha Eda
1500-2000
gastronoma
31% 2000-3000
Intesco Research Group «National Readership Survey»
9. Growth perspective
Our target audience is over
Target revenue over $50 mn 1,000,000 people in the largest
Russian cities
Target audience 1,000,000 Moscow,St. Petersburg, Kazan, Ekaternburg,
Target market share 40% Novosibirsk, Krasnodar, N.Novgorod,
Volgograd, Samara, Ufa
Average orders per
4
customer per year
Average ticket, $ 30
Audience of cafes
Revenue, $ 48,000,000 Audience of and restaurants
premium cooking and buyers of
magazines takeaway food
10. Promotion
Contextual ads Social media ads and content
Flyers directly into
target companies
Weekend full day festival of home cooking: cooking classes from us and popular bloggers,
tasting, sale of our sets and kitchenware from our partners, kids’ entertainment, charity market of
home-cooked bakery
Promotion of the event through media (afisha.ru, bg.ru, the billage) and blogs
Partnership projects with bloggers, magazines, restaurants, farmers’ projects, fitness clubs
Sales through coupon services
Business magazines and websites
11. Advantages of the business model
as compared to…
… restaurant / cafe … food store
Cheap location for a production unit Higher margin
No expenses on interior design and No need in storage facilities
equipment, no costly kitchen equipment A much smaller assortment works well
No need in professional cooks, less (like in a restaurant)
expensive line team
12. Advantages of the business model
as compared to…
… another internet project
Monetization from day one
Service already sees demand and loyalty from customers
Blue unsaturated market – only one direct competitor
13. Current state*
42%
22.06
Launch of sales
55% gross margin
800
Clients returning within
RUB
1 month
83% Return rate from July
Average ticket
RUB 1050
into August In August
14. Key conclusions
• Confirmation of central hypothesis – high share of returning clients proves their satisfaction with
the product
• Pricing strategy is about right – dishes in lower price segment are even less popular. Higher price
segment can be explored
• Orders in weekend are more frequent than in workdays, thus a special offer for workdays is needed
• New dishes stimulate sales – menu needs weekly additions
• There is a differentiation between experienced cook-lovers and newcomers, they need different
offerings
• A choice of side dishes and other extensions to menu are needed
• A choice of accessories may grow the ticket
15. Forecasts. 5 years
Key assumptions
New clients growth: 10% y/y (high growth in year 2 due to the low base of year 1).
RUB year 1 2 3 4 5
Revenue 16,474,180 39,451,501 45,762,851 53,969,324 62,583,236
%growth 139% 16% 18% 16%
EBIT - 3,385 8,724,389 10,103,345 11,958,351 13,842,825
%margin 22% 22% 22% 22%
16. Investment
RUB USD RUB/USD
Investment 3,963,814 123,869 32.0
Operating costs (6 months) 2,163,814 67,619
payroll 1,108,814 34,650
promotion 575,000 17,969
rent 480,000 15,000
Equipment 600,000 18,750
Certification 200,000 6,250
Contingencies 1,000,000 31,250
NPV: $470,000 (discount rate 50%)
IRR: 76% 5 years, terminal value based on 5.0 EV/EBIT, before taxes
18. Principles
• We develop a new product, a new market and a new habit – we follow the
principles of the lean startup and agile development, testing our assumptions,
improving our product consistently and trying new ideas, measuring our success
by clients’ behavior and our key internal indicators.
• Our mission is to help people share their love and cherish their loved ones, apply
their creativeness and create comfort in their homes.
19. Founder
Irina Nazarova
24 years
Education: Computer science in MSU, Economics in
the New Economic School
Experience: J.P. Morgan Equity Research, J.P.
Morgan IB M&A, Wermuth Asset Management,
software engineer, studio photogrpher
Foodie
21. Your benefits
If you are used to eating in cafes
Create a truly homely atmosphere
Impress and cherish your beloved one: your home-
cooked dinner is the shortest way to his or her heart
Set up a creative party for your friends – best party is
always at your place with hot, stylish, fresh, and
delicious meals
Master graceful and easy cooking with us: our recipes
are straightforward, while the dishes you make are
always atop notch
22. Your benefits -2
If you cook
Extend your menu and venture new recipes
Save your time: no need to search for all
ingredients, including the rare ones
Say no to leftovers: buy only needed amount of
each ingredient
Enjoy the dinner prepared by your loved one
(who don’t usually cook)
23. Romantic night
The special dinner, prepared by yourself, is the best way to
express your feelings, gain sympathy and love
Impress and cherish your loved one by cooking a delicious
and graceful meal, just like a chef from the best Moscow
restaurant
Only at home, in private with your loved one, may you
both feel a truly welcoming and relaxing atmosphere
Our accessories – elegant candles, candlesticks, wine
glasses, serviettes – will add to the special atmosphere,
while the most of it will remain in your warmth, embodied
in the dishes and your attitude
24. Home party
Enjoy all the benefits of a home party: feel
relaxed, unwatched and unlimited in time,
watch photographs, play games and taste the
fresh, hot, stylish and delicious home-cooked
food.
Cook together following our step-by-step
recipe with a great fun!
Preparing the party has never been never
easier – with our all-inclusive sets
Follow the mood of our thematic sets and turn
the whole party into retro American, chic
Italian, or hot Mexican style
The best party is always at yours – friends will
remember!
25. Sales
RUB
RUB
+145%
7,000
500
6,000
400
5,000
300 4,000
+63% 3,000
200
2,000
100 1,000
0
0 18.6 25.6 2.7 9.7 16.7 23.7 30.7 6.8 13.8 20.8
Июнь
June Июль
July Август
August
Average daily revenue Weekly revenue
26. Internal measures
last 30 days average
Порций в заказе
Servings per order
Средний ticket
Average чек
Заказов per клиента
Orders на client
р.
3 1100
1000
2.5
900
2 800
700
1.5
600
1 500
23-Jun 7-Jul 21-Jul 4-Aug 18-Aug 23-Jun 7-Jul 21-Jul 4-Aug 18-Aug
27. Financial model
Key assumptions
Average ticket: growth from RUB800 to RUB1200 during a year due to
- Party sets (larger number of servings)
- Accessories
- Desserts, salads, soups, beverages
Daily traffic: growth to 80 tickets per day during a year on the back of promotion
- Cost of promotion per new client RUB500
After 12 months: 2400 orders per month, 1000 clients per month
Gross margin: 50% over ingredients and package cost
