Business Idea

Introduction – Business Idea

The traditional way of eating is to cook at home, go to a restaurant or order takeout. Today’s young people in many cities are increasingly dependent on takeout or convenience food, which will lead to many health problems. According to research, “Eating fast food can have irreversible effects. These risks include obesity, insulin resistance, type 2 diabetes, and various cardiovascular diseases.” (Cavka et al., 2016). In addition, according to statistics, “On average, Canadian households spend more than a quarter (26.9%) of their food budget on meals and snacks purchased from restaurants” (Polsky & Garriguet, 2021). This eating habit will make more and more young people in the future. People lose a life skill – cooking. And make people ignore the importance of having dinner at home with family. The Homecook app breaks with tradition and gives people a new option: Hire a professional chef to cook at home. The Homecook app is a platform that recommends nearby chefs based on their location. It allows chefs to connect directly with consumers, which undoubtedly provides new solutions for catering.

Homecook App helps you find chefs of different styles, such as Chinese food, Japanese food, Korean food, Western food, etc. Users can collect or share recipes of various cuisines on the platform. In some important festivals, users can also customize services through private to create a perfect queue. The home cook service teaches you cooking skills and saves you time. Buying ingredients, cleaning the kitchen, and cooking food, all can be done through the Homecook app service. The most important point is that you can not only enjoy the service, but you can also earn money by providing the service. The platform helps people who love cooking solve the difficult problems of income generation and employment.

The consumer needs

The target group of the Homecook App is young people who live in Canada and do not know how to cook. For example, international students studying in Canada, young people living alone who do not have time to cook, and small families without housewives. According to the data survey, as of last year, ” Canada hosts nearly 622,000 international students” (El-Assal, 2022). “The number of people living alone in Canada more than doubled, from 1.7 million in 1981 to 4 million in 2016” (Galbraith et al., 2019). “Nearly 60% of 18- to 25-year-olds are unable to cook five simple dishes while away from home.” (Rayner, J. 2011). Therefore, the Homecook app has a very large target group in Canada.

With the continuous improvement of living standards, modern people pay more attention to health issues. Homecook app can bring healthy food to young people. Also according to a study by a psychology professor, “the benefits of buying time for happiness are similar to having more money” (University of British Columbia, 2017). The Homecook app can effectively help people save time and let them enjoy life better.

Viability of business

The restaurant industry has suffered tremendously in recent years due to the covid-19 outbreak. According to statistics, “Ontario lost more than 110,000 lodging and food service jobs. (Copolino, 2021). Homecook App in this key Moment can help unemployed chefs start a business and make money at zero cost. Canada is a diverse country, where young people with different cultures and backgrounds from all over the world are gathered here. Users can collect or analyze their Traditional cooking methods. It’s a heritage. “Heritage cooking means embracing and highlighting a culture through food. They’re historic, family recipes that have been passed down from generation to generation.”(Cannon, K. 2021). Homecook apps can help these people come to realize the inheritance of food and let more people experience the food and culture of different countries.

“78% of Canadians agree that taste is the most important factor when buying food, but they are also trying to eat better with 67% making changes to live healthier.” (CISION, 2021). Homecook App has very low operating costs. It is only necessary to maintain the normal operation of the platform. A large number of food lovers in Canada help companies to obtain profits and generate income. As people’s requirements for food are getting higher and higher, the expenditure on food is also increasing. This innovative business concept will attract more investors. Homecook app is a platform with rich functions. In the early stage, it focused on providing chef services. As the number of customers grows, the platform can focus on the development of by-products, such as selling ingredients or advertising. The company is expected to expand rapidly in Canada in a short period of time

Conclusion

The restaurant industry is usually high risk, but the Homecook app can provide professional, flexible, and high-quality service. It can attract local young people and provide a new lifestyle for the day. This highly innovative business concept can be successful and attract the attention of investors. And the plan can be easily realized and executed.

References:

Cannon, K. (2021, January 21). What is heritage cooking? and why is it a 2021 food trend?

SheKnows. Retrieved June 2, 2022, from https://www.sheknows.com/food-and-recipes/articles/2392967/heritage-cooking-trend/

Cavka, A., Jukic, I., Ali, M., Goslawski, M., Bian, J.-T., Wang, E., Drenjancevic, I., &

Phillips, S. A. (2016, April). Short-term high salt intake reduces brachial artery and microvascular function in the absence of changes in blood pressure. Journal of hypertension. Retrieved April 30, 2022, from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6711169/

Coppolino , A. (2021, June 5). Employees are leaving food service jobs just as things

reopen | CBC News. CBCnews. Retrieved April 30, 2022, from https://www.cbc.ca/news/canada/kitchener-waterloo/food-service-jobs-pandemic-reopening-andrew-coppolino-1.6053376

CISION. (2021, February 4). Despite COVID, Canadians are willing to spend more to get more –

Premiumization a growing trend says BrandSpark Shopper Study. BrandSpark International. Retrieved June 2, 2022, from https://www.newswire.ca/news-releases/despite-covid-canadians-are-willing-to-spend-more-to-get-more-premiumization-a-growing-trend-says-brandspark-shopper-study-896759528.html

Galbraith, N., Truong, J., & Tang, J. (2019, March 6). This study uses the census of

population and the 2017 general social survey on family to examine the characteristics of the population living alone in Canada. the demographic, socioeconomic and housing characteristics of persons who live alone are examined, as well as their conjugal history, family relationships, and well-being indicators. Living alone in Canada. Retrieved May 2, 2022, from https://www150.statcan.gc.ca/n1/pub/75-006-x/2019001/article/00003-eng.htm

Polsky, J. Y., & Garriguet, D. (2021, August 18). Eating away from home in Canada: Impact on

dietary intake. Retrieved June 2, 2022, from https://www150.statcan.gc.ca/n1/pub/82-003-x/2021008/article/00003-eng.htm

University of British Columbia. (2017, July 24). Using money to buy time linked to

increased happiness. ScienceDaily. Retrieved April 30, 2022, from https://www.sciencedaily.com/releases/2017/07/170724161258.htm

Rayner, J. (2011, October 18). Teenage cooks: A minority? The Guardian. Retrieved

May 2, 2022, from https://www.theguardian.com/lifeandstyle/wordofmout

h/2011/oct/18/teenage-cooks-minority#:~:text=According%20to%20new%20research%20sponsored,to%20cook%20five%20simple%20dishes.

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