Startup Business Idea # 8 Specialized Food Shop: Ensuring ‘Ghar Ka Khana’ Is Available For All
It’s commonly said that happiness is homemade, and cooking with love provides food for the soul. But, it’s also true that a lot of people are living away from home, where they are deprived of the joy of getting a home-cooked meal. In such cases, they retort to either spending large sums of money ordering food from restaurants or eat unhealthy meals from roadside stalls.
In this article, we will talk about a million-dollar idea that fills a huge gap in the food industry. The idea is building a business by delivering homemade food to people working away from their houses.
The Market Potential
A study published by the Hindu Business Line showed that over 80% of young urban Indians live away from their family. From these individuals, the number one reason for living away is either a job or education. Speaking demographically, small towns of India have a lot of talent and highly trained individuals but lack job opportunities. In search of jobs, they often venture to a cosmopolitan city, away from their families. Another scenario is the need for education, as small towns often don’t provide quality education options.
Another relevant trend that is on the rise if the need for healthy food. A study conducted by the Indian Express showed that more Indians are choosing organic and healthy foods, instead of the traditional fried food. Due to this, even huge food delivery services like Zomato and Swiggy are focusing on offering healthy food options.
While these urban towns give ample education and work opportunities to individuals, getting healthy food has always been a bane, primarily due to two reasons. To further understand, let’s divide the individuals between above and below the poverty line.
When it comes to below poverty line individuals living away from home, the cost of living is extremely overwhelming. In such times, most people aren’t able to fund a filling meal every day. For example, vada pav is known as the staple food of Maharashtra. More than half of the people survive on two vada pavs for lunch or dinner. On the other hand, above poverty line individuals are often faced with the challenge of cut-throat competition; hence, stress levels are off the charts. In such situations, they choose easy to eat meals like finger foods that are extremely unhealthy.
Regardless of the cost, the importance of homemade food cannot be stressed upon enough. Not only is it healthier food at a low cost, but the feeling of eating food cooked with love cannot be compared to anything else. This is where the gap in the food industry comes into play, which gives rise to a million-dollar idea.
Entrepreneurship in India is on the rise, with the incredible talent in India bringing in added revenue and providing more job opportunities. However, are the women of the country part of this trend? Partly, yes. But, there’s still immense scope for improvement. A study showed that of the 58.5 million entrepreneurs in India, only 14% of them are women. However, another study by McKinsey Global Institute showed that the GDP of India could rise by 16-160% by 20125 if more women participated equally with men in the economy. The projections show that this could add a whopping $2.9 trillion to the country’s economy.
However, among the many responsibilities that fall upon the woman of the family, they often don’t find time to leave their houses and pursue jobs. In such cases, opportunities that help them find a balance between making money and handling their household are a boon. Which is exactly what Mom’s Specialised Food Stop is all about. The idea is to fulfill a gap in the market wherein a prominent part of the population is deprived of healthy food, and another part of the population has the talent to make healthy food. By creating a platform where people looking for home-cooked food will get the opportunity to connect with women entrepreneurs who can supply healthy food cooked with love. After all, the secret ingredient to a happy and healthy meal is always ‘love!’
Consumers, Earning and investment input-